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Gold sales down by 50 pc on Dhanteras day

Gold sales on Dhanteras -- the first day of the five-day Diwali festival -- are down by about 50 per cent despite lower price as sluggishGold prices are ruling at Rs 31,400 per 10 grams in the national capital, lower than Rs 32,485 on the last Dhanteras."There is a drastic fall in gold demand due to weak economy and inflation," All-India Gems and Jewellery Federation Chairman Haresh Soni said on F...
Source : Business Today |
Category : Business | City : New Delhi

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

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

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

Why gold is a better investment than diamonds

India, simply put, is infatuated with gold and diamonds. Diamonds are thought to have been first recognised and mined in India around 6000 years ago as precious gemstones, and, needless to say, we have a long standing history with the radiant mineral.As far as gold is concerned, let's just say that it would be difficult to decide whether India's love affair is higher with cricket or gold. Gold, as...
Source : Ndtv |
Category : Others

Gold jewellery exports nearly halve in August

worker examines gold earrings inside a gold jewellery factory in New Delhi August 13, 2013.(Reuters) - Exports of gold jewellery from India nearly halved in August to $561 million, a leading industry body said on Tuesday, although they picked up from July, when the Reserve Bank of India (RBI) tied imports by the world's biggest bullion buyer to its overseas shipments.The amount of gold jewellery India...
Source : Reuters India |
Category : Others

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

India may not ease Gold import restrictions soon

India's gold imports fell significantly after the Union Government raised customs duty on gold in phases to 10% and jewellery import duty to 15%. Apart from this a new regulation which came into effect a few months ag..India may retain gold import restrictions till March 2014 even as there is improvement with respect to current account deficit (CAD).India's gold imports fell significantly after the...
Source : Commodity Online |
Category : Commodities