Gold In India

Festive hopes fade for India's gold industry after surge in price

Consumers are opting for lighter, more affordable jewellery to stay within budget

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 industry seeks One Nation, One Rate policy, beginning from East India

The gold jewellery industry is advocating a 'One Nation, One Rate' policy, starting with a unified rate for Eastern India from August, an official said. All stakeholders have shown interest in the idea of a unified gold rate across the country, said Samar Kr De, President of the Swarna Silpa Bachao Committee. "We will begin with a single rate for Bengal and eastern India from August and have onboarded bullion sellers for this initiative," De said. Saiyam Mehra, Chairman of the All India Gem and Jewellery Domestic Council (GJC), said, "The idea is to create a level playing field for all stakeholders and prevent undercutting." De said that they aim to extend the 'One Gold Rate' policy nationwide within the next six months and are in discussions with large national jewellery retail chains. He also noted that the recent 9 per cent duty cut was unexpected by the industry. Union Finance Minister Nirmala Sitharaman in her budget proposals slashed import duties on gold and silver from 15

Gold Strategy: Buy dips; resistance at Rs 75,400, support at Rs 73,000

Spot gold surged to a fresh record high of $2465 on July 16 as traders continued to pile into the metal on Fed rate cut bets.

Gold price rises Rs 10 to Rs 73,320, silver climbs Rs 100 to Rs 86,600

The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 73,160

Gold, silver prices unchanged; precious metal trading at Rs 63,380/kg

The price of 22-carat gold remained stable, with the yellow metal selling at Rs 58,100

Gold's allure to dim in India due to lower rural income, says report

Gold consumption surged to 800 tons last year as the easing of virus-related restrictions unleashed demand. The jump in demand and rising imports forced the government to raise the import tax on gold

India's demand for gold rises 43% in June qtr as economy recovers: WGC

As the economy recovers from the coronavirus damage, India's gold demand for the June quarter increases by 43% compared to the corresponding quarter last year, says a report by World Gold Council.

Gold jewellery demand in India likely to dip in H2: World Gold Council

At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent

Gold selling at Rs 52,470 for 10 gm, silver trading at Rs 70,000 per kg

The price of 10 grams of 24 carat gold on Tuesday is trading at Rs. 52,470 and 10 grams of 22 carat gold is selling at Rs. 48,100. Silver is trading at Rs. 70,000 per kg

RBI buys record gold this year: At 700 tonnes, reserves up 27% in 2 years

The central bank's gold reserves stood at 705.6 tonnes as on June 30. The gold reserves were at 558.1 tonnes in the beginning of 2018

Gold price today at Rs 45,280 per 10 gm, silver trending at Rs 63,300 a kg

In New Delhi, gold price stands at Rs 49,600 per 10 gm (24 carat)

India's gold demand up 37% YoY in March qtr; global demand dips 23%: WGC

The next phase of gold demand - in the second half of 2021 - will not be driven by fear, but by economic growth, WGC said

Mandatory gold hallmarking to be implemented from June 1, says govt

Gold hallmarking is a purity certification of the precious metal and is voluntary in nature at present

India's gold demand hits 25-yr low in 2020 amid lockdowns, high prices: WGC

Easing of lockdown restrictions, festive period and the ensuing wedding season, however, revived demand hope and drew in jewellery demand worth 137.3 tonnes in the December 2020 quarter

International gold price flirting with all-time high seen nine years ago

US-China friction has weakened the dollar index, while disappointing US Jobless claims data has also pushed gold prices higher

No dearth of gold demand, but more trust and awareness needed: WGC survey

Gold is the third-most popular investment choice, with 46% of all global retail investors choosing gold products - next only to saving accounts (78%) and life insurance (54%)

Black hole in the economy

the fact that the estimates of the size of the black economy in India varied from 7 per cent to 120 per cent of GDP is a matter of surprise - and some concern

Analysts fear massive pull back in gold after sharp rally past five months

The current rally in the yellow metal is without real demand from Indians

India shifts to gold discount but Akshaya Tritya seen reigniting demand

In the local market, gold was trading at 30,405 rupees per 10 grams, after hitting a 15-month high of 30,839 rupees last month