Gold

  • June trade deficit touches 11-month high at $11.76 billion July 16, 2014

    New Delhi: The June trade deficit touched 11-month high to $ 11.76 billion against $ 11.23 billion (MoM) and $ 11.28 billion (Y-o-Y). Though the imports dipped slightly to $ 38.24 billion against $ 39.23 billion on a month on month basis, it grew 8.3 per cent on a year...
  • Gold jewellery import dips 80 pc from Thailand in 2013-14 July 11, 2014

    New Delhi: Amid concerns over the certificate of origin issue, import of gold jewellery from Thailand has dipped by 80.7 per cent to Rs 100.46 crore (351 kg) in 2013-14, Parliament was informed on Friday. "Since 2011-12, import of gold jewellery from Thailand has come down," Commerce and Industry Minister...
  • Despite no Budget sops, gold zooms on buying; silver also up July 10, 2014

    Mumbai: Gold rose sharply and reclaimed the key Rs 28,000 per 10 grams mark at the bullion market on Thursday on emergence of frantic buying by stockists and speculators amid strong global sentiment. Silver too surged and closed above the Rs 46,000 per kg level on the back of heavy industrial...
  • India may cut gold import duty at Budget: Industry official July 9, 2014

    Mumbai: India is likely to cut its gold import duty to 6 per cent from a record 10 per cent in Thursday's Budget, leading to a rise in imports in the second half, a senior official at the country's biggest gold trade group said on Wednesday. Higher overseas purchases by the...
  • Gold swaps to cut imports, ease payment pressure July 4, 2014

    Mumbai: A plan by the Reserve Bank of India (RBI) to swap old gold in its vaults for purer metal abroad that it could pledge or sell would have the added benefits of reducing gold imports and easing pressure on the balance of payments. The RBI would sell relatively impure gold...
  • Budget 2014 should help NBFC sector serve Indians better: Muthoot Finance July 3, 2014

    Muthoot Finance is the largest gold financing company in India in terms of loan portfolio, according to the 2010 update to the IMaCS Research & Analytics Industry Reports, Gold Loans Market in India, 2009. With the Narendra Modi government ready to present its first Union Budget on July 10, 2014,...
  • US cuts more Thailand aid, considers moving exercises June 25, 2014

    Washington: The United States said it has suspended more assistance to Thailand in response to a military coup and was considering moving a major regional exercise out of the kingdom. Washington has blocked $4.7 million in security-related aid to Thailand, which accounts for roughly half of its $10.5 million in annual...
  • 5.8 kg of gold seized from Indo-Bangla border; one held June 19, 2014

    Kolkata: BSF troops on Thursday seized over 5 kgs of gold, including 27 biscuits made of the yellow metal, when the cache was being smuggled across West Bengal's border with Bangladesh. Officials said that a Border Security Force patrol early on Thursday morning apprehended a person from Amudia border post...
  • Kerala: Gold rods, sheets seized from air passenger June 19, 2014

    Kochi: Nearly 700 grams of gold allegedly smuggled in different forms were seized by customs personnel from a passenger who arrived at the airport from Sharjah on Thursday. The passenger had kept concealed two six-inches long gold rods and four gold sheets, totally weighing 699.5 grams and valued at about Rs...
  • Delhi: Man held with 50 gold biscuits at IGIA June 13, 2014

    New Delhi: A passenger has been apprehended by CISF at the Indira Gandhi International Airport (IGIA) for allegedly smuggling in 50 gold biscuits from Dubai. The incident happened on Thursday morning when a Kerala-based person identified as Ashref K arrived from Dubai. Central Industrial Security Force officials intercepted him on suspicion...
  • Kerala: Gold worth about Rs 36 lakh seized from three passengers June 12, 2014

    Kozhikode: About 1.092 kg of gold valued at approximately Rs 36 lakh has been seized from three passengers who arrived in different flights at nearby Karipur International Airport, customs officials said. They said that 234 grams of gold was seized from a woman passenger who arrived by a Dubai-Calicut Emirates flight...
  • TMC MP's gold chain snatched in front of Banga Bhawan June 9, 2014

    New Delhi: Two motorcycle-borne men snatched the gold chain of Trinamool Congress MP Renuka Sinha outside Banga Bhawan on Sunday, police said. Sinha sustained bruises on her neck in the incident. The incident took place at around 9 PM when the MP from Cooch Behar constituency of West Bengal was...
  • 14 gold coins recovered from a digging site at Basodi village in Baran June 6, 2014

    At least 14 gold coins were recovered from a digging site at Basodi village in Baran district, about 82 kilometres from Kota, police said on Friday. One Rampratap Meena of Basodi village found a brass pot dug deep in the land, containing at least 14 gold coins when digging work of...
  • Government cuts import tariff value on gold, silver June 2, 2014

    New Delhi: Government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally. In the second fortnight of May, tariff value on imported gold stood at $424 per 10 grams and silver at...
  • Gold edges up on stray buying; silver rebounds May 30, 2014

    Gold prices gained marginally at the domestic bullion marketin New Delhi on Friday due to mild retail buying support. Silver rebounded sharply after fourth straight session slump on the back of renewed industrial demand. Standard gold (99.5 purity) looked up by Rs 5 to settle at Rs 26,980 per 10 grams from...
  • Gold worth Rs 24 lakh seized from passenger May 30, 2014

    Chennai: Gold valuing Rs 24 lakh was seized today from a passenger who arrived at the airport here from Dubai, airport sources said. Officials of Air Intelligence Unit of Customs recovered silver-coated gold rings weighing 770 gm from Muhamad Musammil Basha, a native of Tiruchirappally, they said. He was found carrying them...
  • Gold worth Rs 25 lakh hidden in man's rectum recovered May 28, 2014

    Kozhikode: Eight hundred grams of gold, worth Rs 25 lakh, concealed in the rectum of a male passenger who arrived here from Dubai, was recovered today by Customs officials at the International Airport here. The man, identified as Asharf from Malappuram, arrived here from Dubai by an Air India flight and...
  • Gold tumbles by Rs 800 as RBI eases import curbs May 22, 2014

    New Delhi: Gold prices tumbled by Rs 800 to hit nine-month low of Rs 28,550 per ten grams in the national capital on Thursday after the Reserve Bank eased import norms. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices. Silver in range-bound movements...
  • Gold tumbles by Rs 800 as RBI eases import curbs May 22, 2014

    Gold prices tumbled by Rs 800 to hit nine-month low of Rs 28,550 per ten grams in the national capital on Thursday after the Reserve Bank eased import norms. Besides, sluggish demand and subdued global cues also weighed on the precious metal prices. Silver in range-bound movements fell by Rs 50...
  • 25 kg gold worth Rs 6.5 cr seized at Mumbai airport; 2 held May 11, 2014

    Mumbai: The Airport Intelligence Unit (AIU) of Mumbai Airport on Sunday arrested two passengers, in two different operations, on their arrival from Dubai and seized over 25 kg gold worth Rs 6.5 crore. This is the highest seizure of smuggled gold from the airport in a day, claimed Milind Lanjewar,...
  • Gold jewellery exports climb, set to keep rising April 30, 2014

    Gold jewellery exports from India rose for a second straight month in March as raw material supply improved after the RBI allowed more banks to import bullion, with industry officials saying the upward trend looks set to continue. Struggling with a ballooning trade deficit, India last year imposed a record duty...
  • SC panel report hints at gold pilferage in Padmanabhaswamy temple April 19, 2014

    New Delhi: Sri Ananthapadmanabha Swamy Temple in Thiruvananthapuram which has gold worth over Rs 1 lakh crore is in the news again. The Supreme Court appointed Amicus Curie and former Solicitor General of India Gopal Subramanian has made some startling revelations in his report to the Apex court. According his...
  • 1.68 crore cash, gold seized on poll day April 18, 2014

    Raids at different places in Jharkhand on Thursday led to seizure of about Rs 1.68 crore cash, gold and silver on poll day. The seizure was made at Hazaribagh, Ranchi, Koderma, Ramgarh, Bokaro and Dhanbad, according to a release issued by the Election Commission. A total of 9.98 gram gold and 18...
  • 125 years of Charlie Chaplin: These are 10, full length Chaplin movies on YouTube you need to watch to celebrate his genius April 16, 2014

    They foiled plots and cracked Nazi codes, but Britain's spies were unable to solve the mystery of Charlie Chaplin's birth. Although the entertainer is celebrated as one of London's most famous sons, declassified files reveal that Britain's MI5 domestic intelligence service found no records to back up Chaplin's claim that...
  • Gold, silver imports dip 40 per cent to $33.46 billion in 2013-14 April 11, 2014

    Gold and silver imports declined 40 per cent to $33.46 billion in 2013-14 mainly due to restrictions imposed by the government on inbound shipments of the precious metal to narrow the current account deficit. Imports of gold and silver in 2012-13 stood at $55.79 billion. In March, the imports of the...
  • 'Golden man' Bappi Lahiri's wife owns more gold April 10, 2014

    Kolkata: Known for always sporting flashy gold chains, veteran Bollywood musician Bappi Lahiri's wife owns more jewellery than her husband and he owns moveable and immoveable assets worth nearly Rs 12 crores besides five cars including BMW and Audi. According to Bapi's affidavit filed with the Election Commission, he owns 754...
  • Kochi: Over Rs 50 lakh worth gold seized from air passengers April 8, 2014

    Gold weighing 1.7397 kg totally and valued at Rs 50.93 lakh was seized and three passengers, including a Singapore citizen, were arrested by customs officials at the airport in Kochi on Tuesday for allegedly attempting to smuggle the precious metal in different forms. While two of the passengers arrived from Singapore,...
  • NRI arrested with gold valued at Rs 1.46 crore at Indo-Nepal border April 4, 2014

    An NRI has been arrested after gold valued at Rs 1.46 crore was allegedly recovered from his possession in Sonauli area on the Indo-Nepal border. Dipak Bajaj (43), who is based in London, was arrested last night during a routine check and over four kg of gold was recovered from him,...
  • Nifty ends above 6700; SBI loses 2 pc, pharma outperforms April 3, 2014

    Mumbai: Equity benchmarks retreated from record highs on Thursday with the Nifty snapping 10-day winning streak on account of profit booking in banks, oil & gas and capital goods stocks. The market fell as much as 0.8 percent intraday but it managed to trim losses in late trade. The Sensex...
  • Customs seizes gold from passenger's rectum at Goa airport April 1, 2014

    Panaji: The customs department arrested a passenger from Chennai on Tuesday, for allegedly trying to smuggle gold into the country by hiding it in his rectum. The person, whose identity has not been disclosed, was arrested at the newly built Goa airport terminal, after he arrived on an Air India flight...