Page 38 - Gold

Unrefined gold imports rise to a record high in 2017, up 80% to 213 tonnes

India's import of unrefined gold (dore) rose in 2017 by 80 per cent from the previous year to 213 tonnes, the highest ever, estimates GFMS Thomson Reuters, It estimates total gold import in 2017 at 855 tonnes or 67 per cent higher than a year before. Of the 2013 tonnes of dore import, 22 per cent is estimated to have come from America and 19 per cent from Ghana and other African countries.Dore import began six years earlier, after a rise in the import duty on gold. Half the new capacities were built in states which announced excise tax exemptions -- Uttarakhand and Himachal, for instance. GFMS data shows a large part of the total dore import in 2017 happened three to four months ahead of implementation of the Goods and Services Tax (GST), which was expected to take away state-specific excise exemptions. July onwards, duty benefits to all refineries from the domestic area were equal. Rajesh Khosla, chairman emeritus at MMTC-PAMPS, the country's largest refiner (set up by government ...

Gold slips below Rs 30,000-mark on weak global cues

Sovereign followed suit and declined by Rs 100 to Rs 24,400 per piece of eight grams

Wedding season pushes gold prices up to Rs 30,520 per 10 grams

Silver, however, fell further by Rs 200 to Rs 40,000 per kg due to reduced offtake by industrial units and coin makers

Gold dips to Rs 30,450 on global cues, weak demand; silver slides by Rs 200

Globally, gold fell 0.21 per cent to $1,287.90 an ounce and silver by 0.35 per cent to $17.01 an ounce

Hallmarking gold jewellery might be made mandatory from January

Under the proposed rules hallmark will also mention the carat of gold used the jewellery, Paswan said.

Gold climbs ahead of US Fed Reserve meet, pick for Janet Yellen replacement

Fed Governor Jerome Powell is widely tipped to take over from incumbent Janet Yellen at the head of the U.S. central bank next year

An eventful year for gold

Despite note ban and the implementation of GST, gold still managed to register higher demand over previous year

Gold, silver glitter on global cues

Globally, gold rose erasing all of the previous week's losses

After Rs 50,000 no-PAN relief, gold sales may revive during Diwali

India is the world's largest gold consumer

Gold edges higher on bargain hunting after correction

Spot gold was up 0.3 per cent at $1,277.82 an ounce at 1005 GMT

Govt plans new schemes to add shine to gold savings

Decisions on gold would be in accordance with this, said people familiar with policymaking

Gold retakes Rs 31,000 level on demand push, soars Rs 650 per 10 grams

But silver fell sharply by Rs 350 to Rs 41,500 per kg, mainly due to softening demand by industrial units

Gold plunges Rs 500 on global cues, muted demand

Globally, gold price fell 0.03% to $1,331 an ounce in Singapore

Gold imports in August surge on duty-free buying from South Korea

India imposes a 10 percent import duty on gold

Higher prices, less discounts keep gold's demand subdued

Dealers were offering a discount of up to $6 an ounce this week

Bearish operators tightening grip over gold futures

With rising prices & falling volumes of the metal, US Fed, ECB expected to provide clarity on Friday

Gold to remain bullish on safe haven buying

Hit 2-month high on Friday, with an appreciating dollar and geopolitical tension

MCX gets Sebi nod to launch gold options in September

The Securities and Exchange Board of India has approved the options contract

Gold hits two-month high, demand falls 3% due to GST

Gold price hit the highest in two months on weak dollar following investors' renewed safe haven buying interest erupted out of geo-political tensions between North Korea and the United States.Standard gold in the popular Zaveri Bazaar here jumped by 0.5 per cent or Rs 140 to close at Rs 29210 per 10 grams on Friday making, thereby, 2.5 per cent gain during the week. Rising gold prices have driven buyers out of the physical markets who preferred to "wait and watch" before placing new orders.Gold prices in India followed broadly global markets with its price was up by 0.7 per cent at $1286.07 an oz in London, the metal's highest level since June 8 as investors sought safe haven refuge in the yellow metal amid "war of words" and "threat of attack" between North Korea and the United States. Spot gold price rose 1.3 per cent on Thursday, the biggest daily gain since mid - May. For delivery in December, the US gold futures climbed by 1 per cent to $1291.80 an oz."Geo-political tensions ...

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