We Wish to Build Globally Relevant SKY Gold: Akash Talesara
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A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
A Surging Rupee Tripled Gold’s Global Loss in India as Silver Broke Down
Macro Snapshot: The Reserve Bank of India changed the domestic arithmetic before trading opened on 12 October. On 10 October it announced a special window to meet the entire daily dollar requirement of Indian Oil, Bharat Petroleum and Hindustan Petroleum directly from its reserves, taking a large block of import demand out of the spot market. The central bank also tightened rupee derivative rules, imposing a 20% Foreign Exchange Risk Reserve on eligible contracts above $2 million and barring the
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Gold Smuggling Arrests Jump 750% YoY in India
Mumbai, 14th April: While cases of gold smuggling in India have jumped 265% from 40 in 2012-13 to 146 in 2013-14, the number of people arrested has shot up by 750%, from 30 in 2012-13 to 255 in 2013-14, data from the Directorate of Revenue Intelligence shows, according to a report published in Mineweb. “Gold imports through the legal channel have
Rough Market Thrives with Double Digit Growth
Antwerp: Figures on the trade in Antwerp in the first six months of the year demonstrate the city is back on track of the pre-pandemic upturn seen in the first few months of 2020, outperforming 2019 figures on rough trade with double digit growth. Polished trade, still suffering from the lack of trade shows and the effects of the pandemic in India, shows
Rs. 792 Cr Raised as SBI Sells Shares of Defaulters
Mumbai: A consortium of India’s banks led by the country’s largest lender, State Bank of India (SBI), has realised Rs 792.11 crore after selling shares handed over to it by the Enforcement Directorate (ED), following confiscation to assets of fugitive businessmen Vijay Mallya, Nirav Modi and Mehul Choksi, according to media reports. Mehul Choksi The ED said that till date
G&J Exports Record Staggering 8.46% Growth in Q1
Studded Gold Jewellery Exports record a growth of 69.87% Cut and Polished diamond exports register a growth of 26.45% Mumbai: India’s gems and jewellery (G&J) exports is back to the pre-covid levels. The overall gross exports of G&J witnessed a growth of 8.46% to Rs. 67265.66 Crore (3% to US$ 9.18 billion) during April – June 2021 as compared to Rs. 62018.48 Crore
WGC and GJEPC Enter into Strategic Partnership
Mumbai: The World Gold Council (WGC) and India’s Gem and Jewellery Export Promotion Council (GJEPC) have signed an agreement to promote gold jewellery in India in 2021. Under the terms of the agreement, both partners will jointly fund a multi-media marketing campaign that would aim to increase awareness, relevance and adoption of gold jewellery amongst Indian consumers, especially millennials and gen
