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RBI tightens norms for lending against gold jewellery

Seeking to keep demand of gold under check, the Reserve Bank of India has tightened norms for loans against pledge of gold jewellery....
Source : Times Of India |
Category : Business

India Gold imports fall sharply by 66% in 2013 14 smuggling soars

may be recalled that in 2013 China surpassed India to become the largest consumer of gold apart from being the largest producer of gold. As per government data, India imported 1013.92 tons of gold in 2012-13, and 11..: India's gold imports have fallen sharply in 2013-14 sharply by 66.1% to 670.41 tons following the increase in import duty to 10% for gold bars and jewellery to 15%, as per government...
Source : Commodity Online |
Category : Commodities

India Gold prices may drop to Rs 25000 on Rupee strength easing import curbs

Global markets witness continued weaknes in gold on US dollar strengh, improved outlook on US economy and easing of import restrictions on gold in India.India gold prices weakened considerably last week as Reserve Bank of India (RBI) eased restrictions on gold imports and Rupee strength added to the bearishnes in the yellow metal. At spot market gold bullion prices fell from Rs 28800 levels to Rs 28100...
Source : Commodity Online |
Category : Commodities

Gold loses sheen this quarter: 10 facts

India is the biggest consumer of gold. However, a drastic increase in the current account deficit – an amount in foreign currency India owes to the world – has led to the introduction of restrictions on import of gold. This has dragged down the total demand for gold in the quarter to September 2013, according to a report by the World Gold Council (WGC).1. Consumer demand for gold in India fell 32%...
Source : Yahoo Finance |
Category : Personal Finance

India cannot afford to invest in gold import: KC Chakrabarty

"Gold was an asset 2,000 years ago, when India was rich and contributing 30 per cent to world GDP. Our current account deficit is negative and how can we invest in importing gold: India cannot afford it," a release by IIM Bangalore quoting Chakrabarty said.Speaking at a panel discussion on Gold and its status in India - at IIMB, he said gold intoxication is prevalent only to India, and society as a...
Source : The Economic Times |
Category : Business

Saina, Kashyap reach India GP Gold pre-quarters (Second lead)

advanced to the pre-quarterfinals of the $120,000 India Grand Prix Gold badminton tournament after...
Source : Webindia123 |
Category : Headlines

Remembering the victims of the Kansas Jewish center shootings

A doctor and his singer grandson and a therapist for blind babies were killed by the gunman, said to be an avowed racist. None of the victims was Jewish.Reat Underwood auditions last month for Theatre in the Park in Overland Park, Kan. Reat, 14, along with his grandfather, was gunned down Sunday outside the Jewish Community Center in Overland Park.OVERLAND PARK, Kan. — Standing at the lectern, Mindy...
Source : Los Angeles Times |
Category : Headlines

Saina enters final of India GP Gold

India entered the womens singles final of the $120,000 India Grand Prix Gold at the Babu Banarasi Das Indoor Stadium...
Source : Webindia123 |
Category : Headlines

China becomes world's largest gold consumer

China has bet India and become world's top gold consumer.China has purchased 798 tonnes of the precious metal so far this year, compared to 715 tonnes that India bought, the latest World Gold Council report has revealed.According to CNN, the group recently lowered its 2013 forecast for India's gold consumption by 10 percent to 900 tonnes.Albert Cheng, the World Gold Council's Far East Managing Director,...
Source : News Track India |
Category : Business | City : Washington

2013: How much Gold did India smuggle in?

World Gold Council believes that import restrictions on gold by the India government would continue well into the end of Q1, 2014 and even beyond.There are varying reports and stats available when it comes to smuggling in of gold in India. The most authentic of them comes from World Gold Council as per widely held opinion and the most conservative of them comes from India government.While some market...
Source : Commodity Online |
Category : Commodities
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