The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 65,740
Silver at $30.12 was down over 2 per cent at the time of MCX closing as the corresponding MCX July contract at Rs 90305 was down 2.91 per cent on the day
To unveil"Rasamayi" brand in the existing Kalamandir store in Visakhapatnam
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 76,200
High prices and previous year's base weighed on the precious metal
In a notification issued on Monday, India's Ministry of Finance also hiked the import duty on spent catalysts containing precious metals to 14.35 per cent from 10.1 per cent
The price of 22-carat gold also dipped Rs 100, with the yellow metal selling at Rs 54,950
The price of 22-carat gold also fell Rs 150 with the yellow metal selling at Rs 54,950
GIVA Jewellery has raised Rs 200 crore from investors, including Premji Invest to expand its business. The Bengaluru-based company, which mainly deals in fine silver jewellery, has raised this amount in Series B funding led by Premji Invest. The round also saw participation from existing investors Aditya Birla Ventures, Alteria Capital and A91 Partners, GIVA said in a statement. This will help the company innovate further and expand its product categories and offerings. "This investment will empower GIVA to expand its omnichannel presence with more offline stores and consolidate its position as the go-to platform for minimalistic jewellery and affordable gifting options," the statement said. Founded in 2019, GIVA deals in authentic 925 fine silver jewellery and recently made a foray into 14K and 18K gold and lab-grown diamond jewellery. Premji Invest primarily supports philanthropic initiatives of Azim Premji Foundation.
A small price correction is seen where demand is expected to return
After underperforming for 2 yrs, silver has risen in line with benchmark indices but one should limit exposure to it to 5-10 per cent of portfolio
Industrial recovery, higher demand from new age technologies could propel a turnaround
The price of gold vary for different regions based on certain parameters such as the excise duty, making charges and the state taxes
Gold jewellery sales plunge on unaffordable high bullion price
Affordability is just part of the story. The metal is easy on the skin, comes with classy designs that can't be created in gold and is as just as good a style statement, if not better
This year is expected to be a better one, feels the silver trade on the global trend. The World Silver Survey 2017, issued by the US-based Silver Institute, said 2016 saw a nine per cent fall in demand for silver coin and medals fabrication, from a record high in 2015, to 123.2 million ounces (Moz). Total physical demand fell by 11 per cent to 1,027.8 Moz, with weaker offtake for jewellery, silverware and retail (by individuals) investment. Silver jewellery fabrication declined nine per cent to 207 Moz from the record of 228.3 Moz in 2015. The fall was led by China and India, where jewellery offtake was weaker due to higher prices and a build-up of stocks. Monal Thakkar, director, Amrapali Group, said: "2016 wasn't a good year for India. Silver import halved. However, 2017 has given a very good pull. Import this year might again be higher."Alexander Cameron, manager at GFMS Thomson Reuters for precious metals demand in Asia, told this newspaper: "Jewellery fabrication demand is ..