Representative image Gold reached record-breaking levels in September, buoyed by a bumper US interest rate cut, fears of rising geopolitical conflict, and an import tax cut in India that has galvanised local demand. India, the world’s second largest consumer of gold jewellery, cut the import tax on gold in July to six percent from 15…
Representative image New Delhi: Gold and Silver prices are on an upward trajectory backed by firm demand, and the steam seems to remain till the end of this festival season. In the current financial year, gold and silver prices have appreciated by nearly 10 and 24 per cent, respectively. “From Indian perspective, with the customs…
Representative Image Monthly instalment schemes floated by jewellers are keeping the gold demand alive for the retailers, with the amount received by them from consumers continuing to grow in corpus when overall gold demand remains weak. Market leader Tata-owned Tanishq has disclosed that monthly deposit at its stores has gone up by 10% year-on-year (yoy)…
Representative image New Delhi: Gold prices are witnessing a strong resurgence in both international and domestic markets, with increased jewellery buying and investment activities expected to persist, according to the latest report from the World Gold Council. Rural demand, in particular, is showing signs of recovery. With an improved monsoon season and higher crop sowing…
Representative image On Friday, the World Gold Council (WGC) said that the rural purchase of gold this festive season will provide fresh momentum to gold demand in the country. WGC has earlier revised the demand for gold this year to 850 tonnes from 750 tonnes. “Rural consumption demand has been showing signs of improvement and…
Kolkata: Gold came under pressure in India Thursday morning, but reversed the trend in the afternoon after international prices rose by $18 a troy ounce as the market felt the impact of the first interest rate cut by the US Federal Reserve in more than four years. Prices moved up to Rs 73,450 per 10…
Representative image Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of super-sized reduction in U.S. interest rates next week, while palladium has gained over 15% so far this week. Spot gold was up hitting a record 0.3% at $2,567.23 per ounce by 0703 GMT, after high of $2,570.21…
Representative Image Domestic gold prices have risen by 10 per cent on a year-to-date basis on the back of the strength in global gold prices, which have surged by 18 per cent year-to-date, driven by robust central bank purchases, heightened geopolitical risks, and growing expectations of a monetary policy pivot from the US Federal Reserve,…
Mumbai: The overall gem and jewellery exports witnessed a 23.28 per cent year-on-year decline in July to USD 1,665.4 million on account of dampening of consumer demand following global unrest, Gem and Jewellery Export Promotion Council (GJEPC) has said. According to data released by GJEPC — the apex body for the gems and jewellery industry…
Consumers are rushing to buy gold, some even placing advance orders, on fears that prices may start rallying again after a recent decline, said jewellers and trade executives. Prices of the yellow metal fell after a customs duty cut in the budget but have since rebounded amid a rush of buyers in the world’s second-largest…
