Silver Jewellery Export

Here's how to trade Silver on November 08; Check resistance, support here

The Fed cutting rates despite citing strong growth will put the focus back on inflation. The US bonds are quite volatile. Yields are likely to spike again on growth expectations and deficit concerns

India-UAE CEPA: New Delhi to flag concerns over silver import rules

New Delhi has been particularly concerned about the value-addition norms pertaining to these imports and will seek their view on the rules of origins while exporting these items

Outsized 50-bps Fed rate cut positive for Silver; check trading strategy

Spot silver was extremely volatile in the wake of the US Fed cutting rates by 50-bps at its FOMC meeting concluded on September 18.

Govt slashes down drawback rates on exports of gold, silver jewellery

The government has reduced the drawback rates on exports of gold and silver jewellery by more than half to adjust for the significant cut in import duties on these precious metals in the Budget. A notification regarding this was issued by the Department of Revenue. On the export of gold jewellery, the drawback rate has been brought down to Rs 335.5 from Rs 704.1 per gram of net gold content in the article. The rate of silver jewellery and articles of silver have been cut to Rs 4,468 per kilogram of net gold content in an article. The Duty Drawback Scheme refunds import duties and internal taxes, which are paid while importing goods, which are, in turn, used for manufacturing products for exports. In the Budget, the import duty on gold and silver to 6 per cent from 15 per cent. Through this notification, "duty drawback on gold and silver jewellery was reduced as the duty on gold and silver lowered in the budget", Federation of Indian Export Organisations Director General Ajay Sahai

New wastage norms for gold, silver jewellery exports on hold till August 31

The new norms for permissible wastage amount for gold, silver and platinum content in jewellery exports will now be in abeyance till August 31, 2024, according to DGFT. The decision was taken on the request of Gems and Jewellery Export Promotion Council (GJEPC), DGFT said in a public notice. In May, the norms were put on hold till July this year. After GJEPC's request, the hold period was extended by one more month till August. This was done after the industry raised concerns over the government's revised norms related to the permissible amount of wastage and standard input output with regard to the export of gold and silver jewellery. The public notice dated May 27 is kept in "abeyance till August 31, 2024 for reassessment of permissible wastages and SIONs as per request of GJEPC," Directorate General of Foreign Trade (DGFT) said. For the interim period, wastage norms as existed prior to the issuance of the May 27 notice stand restored. On May 27, DGFT issued a public notice ..

India's duty cut stops concessionary silver, platinum imports from UAE

After the reduction, there is no incentive to bring silver or platinum into India

Gold price rises Rs 10 to Rs 72,160, silver slips Rs 100 to Rs 89,900

In Delhi, Bengaluru, and Chennai, the price of ten grams of 22-carat gold stood at Rs 66,310, Rs 66,160, and Rs 66,670, respectively

Gold price rally could cut India's demand to four-year low, says WGC

Domestic prices of gold hit a record high this month of 73,958 rupees ($885.72) per 10 grams. They have risen more than 13% in 2024 after rising more than 10% in 2023

Gold slips Rs 10, silver declines Rs 100, yellow metal trading at Rs 66,700

In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 61,140

Silver imports likely to pick up pace after falling over 63% in 2023

High prices and previous year's base weighed on the precious metal

Banks ask RBI to frame policy for silver loans similar to gold metal loans

Under the current Gold Monetisation Scheme, 2015, banks can give gold loans to jewellery exporters or domestic makers. The loan, equivalent to the value of gold borrowed, needs to be repaid in rupees

Jewellery exports dip 5.4% in Oct over trade war, Hong Kong protests

The exports stood at Rs 26,010.87 crore in October 2018, according to data given by the Gems and Jewellery Export Promotion Council (GJEPC)

Silver jewellery exports fall 88% in FY19, industry seeks policy support

Export of silver jewellery has fallen as much as 88 per cent so far this financial year, shows data compiled by the apex industry body, the Gems and Jewellery Export Promotion Council (GJEPC). The cumulative export figure for April-August, first five months of 2018-19, was $239 million (Rs 16.3 billion), compared to $2,008.2 mn (Rs 129.4 bn) in the corresponding period last year. However, during this period, overall gems and jewellery export rose, by 7.3 per cent in rupee terms to Rs 1,131 bn and nearly 1.9 per cent in dollar terms to $16.7 bn.Indian export of silver jewellery and artifacts was a record high of a little above $4 bn in 2016-17, taking major market share from Thailand. That has since reversed -- silver jewellery exporters from Thailand have made their articles more attractive with contemporary and modern designs. While Indian exporters continued to offer the same style of ornaments, failing to move in line with consumer demand.Pramod Agrawal, chairman of GJEPC, said ...