Page 7 - Gold

Gold price climbs ₹10 to ₹1,62,340; silver down ₹100, trading at ₹2,99,900

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,48,810

Best of BS Opinion: Time to treat gold as a structural factor in economy

Today's BS Opinion wrap looks at gold imports and forex pressures, judicial infrastructure gaps, financing the Viksit Bharat dream, coal gasification, and Japan's wartime history

Gold imports need structural solutions, not knee-jerk restrictions

India is one of the biggest consumers of gold in the world, and most of it is imported. A variety of social, cultural, economic and religious factors drive demand

India caps gold imports under Advance Authorisation scheme at 100 kg

A day after significantly increasing the import duty on precious metals, the government on Thursday imposed a limit of 100 kg on gold imports under the Advance Authorisation scheme, which allows jewellery exporters to import raw or input materials at zero duty. The government has tighetend conditons for the issuance and monitoring of advance authorisation for import of gold. Earlier, there was no limit on gold imports under the scheme. The Advance Authorisation scheme allows the duty-free import of inputs that are incorporated into an export product. In addition to any inputs, packaging material, fuel, oil, and catalyst that are consumed or utilised in the process of production of export product, are also allowed. "AA for import of gold shall be issued, subject to a maximum remissible quantity of 100 kilograms," the DGFT said in a public notice. It added that in case of application for Advance Authorisation by a first-time applicant, a mandatory physical inspection of the applicant

Gold price climbs ₹10 to ₹1,62,010; silver up ₹100, trades at ₹3,10,100

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,48,510

Govt hikes tariff on precious metals to shield foreign exchange reserves

Gold, silver duties more than double to 15%, & 15.4% for platinum

Gold loses its sheen on import duty hike, jewellery stores feel the pinch

Prime Minister Narendra Modi on Sunday appealed to Indians to reduce their gold purchases for a year in a move to encourage foreign exchange savings amid the crisis in West Asia

After run-up in precious metals, what steps should investors take?

Rebalance away from gold and silver and towards equity and debt

Can a 15% gold duty fix India's trade deficit? The math is not simple

India may need a steep fall in gold imports to ease its trade deficit, but high prices, investment demand and smuggling risks complicate the duty hike's impact

Gold imports from Dubai may increase after import duty hike: GTRI

The significant increase in the import duty on gold from 6 per cent to 15 per cent may lead to an increase in imports from Dubai through the free trade agreement route, think tank GTRI said on Wednesday. It said that the duty hike also sharply changes the economics of precious metal imports routed through the United Arab Emirates under the India-UAE Comprehensive Economic Partnership Agreement (CEPA). India had allowed imports of gold from Dubai at tariffs one percentage point below the normal Most-Favoured-Nation (MFN) rate through a Tariff Rate Quota (TRQ) system. The quota began at 120 tonnes annually in 2022 and is set to rise to 200 tonnes by 2027, nearly one-fourth of India's yearly gold imports. "With the new MFN tariff structure taking effective duties to 15 per cent, gold imported under the UAE quota would enter at 14 per cent. The widening tariff gap could encourage greater routing of global bullion through Dubai, even though the UAE is not a miner of gold or silver," the

Gold import duty hike to hurt jewellery trade, spur grey market: GJC

The gems and jewellery industry is likely to face challenging times ahead following the hike in gold import duty to 15 per cent, from 4 per cent earlier, a move that could spur the grey market, the All India Gems and Jewellery Council (GJC) said on Wednesday. "Business is now going to become difficult on the back of the Prime Minister's austerity measures and following the import duty hike in bullion. What the industry fears is that this will give rise to grey market... smuggling is likely to grow, setting up a parallel economy in the country," GJC chairman Rajesh Rokde told PTI. Explaining the duty hike, Rokde said, now the import duty that includes Customs Duty, GST and Agricultural Cess will make gold costlier by around Rs 27,000 per 10 grams from the earlier Rs 13,500/10 gm. He said the GJC has called an all-associations meeting of the industry in Mumbai on Wednesday to mull over the recent policy decisions and decide on further action. Meanwhile, jewellery retailer Senco Gold

Hindustan Zinc, Vedanta rally up to 6% on huge volumes; here's why

The government today increased the import duty on gold and silver from 6 per cent to 15 per cent; analysts see this as a positive move for Hindustan Zinc.

Gold price climbs ₹10 to ₹1,53,990; silver up ₹100, trades at ₹2,90,100

The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,41,160

Govt raises import tariffs on gold, silver to 15% to curb imports

The higher duties could ‌dampen demand in the world's second-largest consumer of precious metals, although they may help narrow India's trade deficit and support the rupee

NSE's Electronic Gold Receipts: What needs to be checked before investing

Costs, liquidity, and the mechanism for conversion to physical gold are aspects you must understand before taking the plunge

Why PM Modi wants Indians to save fuel, skip buying gold and avoid foreign trips | West Asia war

Prime Minister Narendra Modi urged citizens to help conserve foreign exchange reserves by reducing the consumption of imported fuel through the use of public transport and electric vehicles

Watch: PM Modi’s appeal to Indians | WFH | Avoid buying gold | Carpool | West Asia war | Oil crisis

Prime Minister Narendra Modi on Sunday appealed to citizens to collectively adopt some resolutions to help the country cut down on its energy consumption to save foreign exchange

Modi's gold warning sparks big question: Is India facing economic stress?

Gold Buying Could Hurt the Rupee: Why Modi Issued an Unusual Appeal to Indians

Jewellery stocks: Senco, Kalyan, Titan, Sky Gold slip up to 12%; here's why

Shares of jewellery companies witnessed selling pressure on Monday after PM Modi urged citizens to abjure from purchasing gold and gold jewellery for the next one year.

Explained: Why PM Modi is asking Indians not to buy gold for a year

PM Modi's Gold Warning Explained: How Buying Jewellery Could Hurt the Rupee