Page 46 - Gold

Gold price dips Rs 10 to Rs 69,700, silver falls Rs 100 to Rs 82,400

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 63,890

Indian gold industry forms new body to foster consumer, govt confidence

The Indian gold industry on Tuesday announced the formation of the Indian Association for Gold Excellence and Standards (IAGES), a self-regulatory organisation (SRO) supported by the World Gold Council. The organisation aims to remove the trust deficit and enhance transparency within the sector. The framework for IAGES will be independently governed and professionally managed. It will be released soon, after which memberships will be announced. The organisation is expected to become operational by December this year or January 2025, WGC Regional CEO, India, Sachin Jain told PTI. IAGES will be formed by national industry associations, including the Indian Bullion and Jewellers Association (IBJA), All India Gems and Jewellery Council of India (GJC) and Gem and Jewellery Export Promotion Council (GJEPC). "IAGES, created by the Indian gold industry, represents the coming together of various stakeholders in the sector. It aims to increase consumer and government confidence by enhancing

Gold price slips Rs 10 to Rs 70,570, silver climbs Rs 100 to Rs 85,800

The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 64,690

Paris Olympics 2024: Gold, Sensex dazzle since Tokyo 2021 games, CLSA says

Gold prices, CLSA said, have risen from $1,806 per ounce (oz) since Tokyo Olympics 2020 began on July 23, 2021 to $2,387/oz at the start of Paris Olympics 2024 on July 26

Gold price slips Rs 10 to Rs 70,570, silver declines Rs 100 to Rs 85,400

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 64,690

Gold price climbs Rs 10 to Rs 70,700, silver rises Rs 100 to Rs 87,300

The price of 22-carat gold rose Rs 10, with the yellow metal trading at Rs 64,810

Gold price outlook turning constructive on hopes of rate cut: Sharekhan

Gold prices likely to be volatile and choppy ahead of the key US macroeconomic releases, says analyst at the brokerage firm.

Gold price climbs Rs 10 to Rs 70,370, silver rises Rs 100 to Rs 87,200

The price of 22-carat gold rose Rs 10, with the yellow metal trading at Rs 64,510

How to trade Gold ahead of US Fed outcome today? Check key levels here

Gold trading strategy today, July 31: Unless the US Fed is outrightly dovish, Gold is expected to fall in the coming days. Support for MCX October Gold contract is at Rs 67,600/Rs 66,200

Gold price climbs Rs 10 to Rs 69,830, silver rises Rs 100 to Rs 86,600

The price of 22-carat gold rose Rs 10, with the yellow metal trading at Rs 64,010

Gold price slips Rs 10 to Rs 68,940, silver declines Rs 100 to Rs 84,400

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 63,190

Customs, DRI seize 847 kg of gold worth Rs 544 cr at airports in Q1: FM

Customs and DRI officers have seized 847 kg of gold worth Rs 544 crore at various airports in the three months of the current fiscal till June, Finance Minister Nirmala Sitharaman said on Tuesday. In a written reply to a question in the Rajya Sabha, Sitharaman gave details of gold seizure cases at airports and seaports by Customs field formations and Directorate of Revenue Intelligence (DRI) from FY 2021-22 to FY 2024-25. In FY25, up to June 2024, 847.43 kg of gold was seized in 1,282 cases. The value of seized gold is Rs 543.61 crore. In the 2023-24 fiscal, there were 5,962 cases of seizure at airports with 3,714 kg of gold worth Rs 2,081 crore getting seized. In 2022-23, seizure of 2,776 kg of gold worth Rs 1,382 crore was made. In 2021-22, about 1,240 kg of gold worth Rs 572 crore was seized at the airports. The minister said Customs field formations are regularly sensitised to newer methods of smuggling. "On detection of gold smuggling cases, action is taken in accordance wi

Gold price climbs Rs 10 to Rs 69,170, silver rises Rs 100 to Rs 85,100

The price of 22-carat gold rose Rs 10, with the yellow metal trading at Rs 63,410

Gold tumbles Rs 950, silver dips Rs 4,500 on weak demand from jewellers

Gold prices tumbled by Rs 950 to Rs 71,050 per 10 grams in the local market here on Monday due to weak demand from jewellers. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity closed at Rs 72,000 per 10 grams in the previous session on Saturday. Gold of 99.5 per cent purity also plunged Rs 1,650 to Rs 70,700 per 10 grams. On Saturday, it closed at Rs 72,350 per 10 grams. Silver also declined Rs 4,500 to Rs 84,500 per kg on decreased offtake by coin makers and industrial units. This marks the biggest single-day fall in silver prices in 2024. It ended at Rs 89,000 per kg in the previous session. Traders said reduced demand from jewellers as well as retail buyers led to the fall in gold prices. "Last week, Finance Minister Nirmala Sitharaman in the Budget announced a customs duty cut from 15 per cent to 6 per cent, weighing on the domestic front. "Post the cut in import duty, gold premiums in India jumped to their highest level in a decade,"

Why is China turning its back to gold jewellery? Chris Wood explains

In dollar terms, gold prices hit $2,331/oz at the end of H1-CY24, according to WGC data, rising 12.1 per cent during this period

Gold price slips Rs 10 to Rs 68,990, silver declines Rs 100 to Rs 84,400

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 63,240

Don't let tax rate hikes disrupt wealth creation through equity funds

International, gold and silver funds and ETFs will be taxed more favourably from next year

After paints, Aditya Birla group forays into Rs 6.7 trn jewellery retail

Group aims for brand to be among top three national players in five years

Investors hold on to gold ETFs even as prices slump after custom duty cut

Adjusted for fall in NAV, AUM of gold ETFs remain unaffected

Cut in gold import duty will curb smuggling, boost jewellery exports: Goyal

The announcement in the Budget to cut import duty on gold will help boost domestic manufacturing and promote jewellery exports, Commerce and Industry Minister Piyush Goyal said on Tuesday. He also said that the decision for the removal of angel tax will further strengthen the startup ecosystem in the country. "The gold import duty cut to 6 per cent will promote the manufacturing of gold and silver jewellery. It will also contain smuggling," Goyal told PTI. He added that the gold prices are high and the marriage season is coming and this move would help the people. Presenting the Union Budget 2024-25 on Tuesday, Finance Minister Nirmala Sitharaman said that to enhance domestic value addition in gold and precious metal jewellery in the country, the government has proposed to reduce customs duties on gold and silver to 6 per cent and that on platinum to 6.4 per cent. Giving a big relief to startups, the government on Tuesday announced the removal of angel tax for all classes of inves