Bullion

  • Gold prices drop to near one-month low; demand sluggish September 12, 2013

    Mumbai: Gold prices in India fell to their lowest in nearly one month on Thursday, tracking overseas markets, but spot demand was subdued as jewellers hugged the sidelines hoping for prices to drop further. At 1345 IST, the benchmark October contract on the Multi Commodity Exchange (MCX) was 1.36 per cent...
  • RBI says not considering converting idle gold into bullion August 31, 2013

    Mumbai: The Reserve Bank of India said on Saturday it was not considering converting India's idle gold into bullion according to a statement. Reuters had reported that the central bank was planning to ask banks to buy household gold and divert it to precious metal refiners in an effort to reduce...
  • No proposal to convert idle gold into bullion: RBI August 31, 2013

    The Reserve Bank of India on Saturday said it is not contemplating any proposal to buy idle gold and convert it into bullion. "The RBI clarifies that no such proposal is under its consideration at this juncture," the apex bank said in a statement. There have been media reports that the...
  • Gold skids below Rs 27k level on global cues June 26, 2013

    New Delhi: Gold prices on Wednesday plunged to one-month low by losing Rs 620 to Rs 26,680 per 10 grams on hectic selling by stockists, triggered by a steep fall in the precious metal's prices overseas. The current fall in the yellow metal prices placed it to a level last...
  • 'Govt may take more steps to curb gold import' June 3, 2013

    New Delhi: The Finance Ministry on Monday said the government could take more steps to reduce gold imports, which may include banning sale of the yellow metal by banks. "More steps will have to be taken to reduce gold imports. Export import policy on gold will have to be reviewed....
  • Gold falls to three-week lows on stronger dollar May 15, 2013

    London: Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a two-year trough of $1.321.35 an ounce hit in mid-April, its...
  • Gold climbs as a rebound in prices fails to curb investor appetite April 29, 2013

    Singapore: Gold ticked up on Monday, holding near its highest level in more than a week, as a rebound in prices from a 2-year trough failed to curb investor appetite for the precious metal. Spot gold had risen $1.15 an ounce to $1,463.65 by 0025 GMT, having posted its biggest...
  • Government slashes tariff value of gold, silver April 16, 2013

    New Delhi: The government on Tuesday slashed the tariff value of gold and silver to USD 499 per 10 grams and USD 890 per kg, respectively, taking into account weak global prices of the precious metals. Tariff value is the base price on which the customs duty is determined to prevent...
  • Drop in gold prices: Why is the yellow metal losing its sheen? April 15, 2013

    Gold prices have slipped in the past six months and the near-term outlook is bearish. Why is the yellow metal losing its sheen and is it time to dump the metal from your portfolio? ...
  • Sensex gains 115; gold, silver hit multi-year low April 15, 2013

    Mumbai: The market ended on a strong note on Monday after inflation data hit a fresh 40-month low at 5.96 per cent. Core inflation data was also below 4 per cent. Banking stocks closed with smart gains on hopes of a rate cut by the central bank on May 3. The...
  • India's gold buying seen reviving in April March 21, 2013

    Mumbai: Physical buyers shied away from the gold market as prices hovered above $1,600 an ounce, waiting for the boost from the Cyprus crisis to fade and pull prices lower. Demand from India, the world's biggest gold consumer, languished before next week's Holi festival, a period considered inauspicious for gold...
  • Budget 2013: India keeps gold import duty steady February 28, 2013

    New Delhi: India held its gold import duty unchanged in Thursday's budget, defying industry expectations that the world's biggest bullion buyer would increase rates to curb demand and rein in a record current account deficit. The government could still raise the duty if imports do not ease in response to...
  • India likely to curb gold imports: MMTC source February 18, 2013

    New Delhi: India, the world's biggest gold importer, is likely to take more steps to curb purchases of bullion, a senior official with India's second-biggest gold importer, state-run MMTC Ltd, told reporters on Monday. India's passion for gold, seen by many as a hedge against persistently high inflation, has led...
  • Gold prices hit an all-time high of Rs 32,950 November 27, 2012

    New Delhi: Gold prices on Monday set a fresh all-time high of Rs 32,950 per 10 grams in Delhi on persisting demand from stockists and jewellers amid continuing weakness in rupee, dampening retail shopping in ongoing wedding season. Gold of 99.9 and 99.5 per cent purity added Rs 100 each to...
  • Gold import may drop by 40 pc in next 4 months: BBA August 21, 2012

    Mumbai: The import of gold is likely to decline by 40 per cent in the last four months of the year to about 200 tonnes due to fall in demand for the yellow metal amid high prices and poor monsoon, Bombay Bullion Association said on Tuesday. "Import of the precious metal...
  • Gold prices hit yet another peak at Rs 30,420 June 13, 2012

    New Delhi: Gold prices touched all-time high of Rs 30,420 per 10 grams in the bullion market in Delhi on Wednesday on the back of rising demand for the wedding season amid strong cues from the global markets. Gold spurted by Rs 270 to surpass its previous record of Rs 30,400...
  • Gold sets new record at Rs 29,750 May 4, 2012

    New Delhi: Gold prices rose by Rs 55 to touch fresh all-time high of Rs 29,750 per 10 grams in the bullion market on Friday on sustained buying from stockists and investors even though the metal declined in global markets. Silver, on the other hand, remained under selling pressure and declined...
  • Enough stocks to meet gold demand post stir: traders April 7, 2012

    Mumbai: Gold imports are unlikely to rise immediately as the spurt in demand on account of 21-day stir by bullion traders will be met by existing stocks, Bombay Bullion Association on Friday said. "Jewellery manufacturing was completely stopped during the 21-day strike. Therefore, there is an inventory of 5-10 tonnes...
  • Bullion strike enters 10th day over duty hike March 26, 2012

    New Delhi: Bullion and jewellery markets remained closed for tenth straight today in various parts of the country to protest imposition of excise duty on unbranded jewellery and doubling of import duty on gold. Thousands of jewellers and their workers came out in the walled city area to demand withdrawal of...
  • Pressure tactics won't work: FM to bullion dealers March 19, 2012

    New Delhi: Finance Minister Pranab Mukherjee on Sunday bluntly told bullion dealers, who have gone on strike against the levies on gold, that their pressure tactics "will simply not not work". Mukherjee in his budget proposals has doubled the basic customs duty on standard...
  • Gold extends its golden run; silver also shines August 20, 2011

    Mumbai: Gold prices maintained their spectacular surge and reached fresh highs at the domestic bullion market on Saturday on investment-driven buying fuelled by the ongoing bullish trend in international market. Silver also galloped to revisit its three-month high on hectic speculative activity on the back rising industrial demand. Standard gold...
  • Gold hits an all-time high of Rs 28,150/ 10 gm August 19, 2011

    New Delhi: Gold climbed to an all-time high of Rs 28,150 per 10 grams in the national capital on Friday, posting its biggest-ever single day gain of Rs 1,310 amid frantic buying triggered by robust demand in global markets. The trading sentiment at home was bolstered by gold's ascent to a...
  • Gold bounces as Asian stocks dive August 5, 2011

    Singapore: Gold edged up on Friday as investors used bullion to shelter from the storm engulfing financial markets on concerns that the United States may be facing another recession and Europe's debt crisis is spreading to some of its largest economies. Gold fell as much as $40 an ounce from a...
  • Global stocks rise; gold hits another high November 25, 2009

    London: World stocks rose while gold hit another record high and the dollar weakened on Wednesday after Federal Reserve minutes expressed confidence in the durability of the US economic recovery. Federal Reserve officials raised their growth estimate for 2010, helping to offset Tuesday's data showing the US grew at...
  • India buys half of IMF's gold for sale; who's next? November 4, 2009

    Mumbai/Washington: The International Monetary Fund has sold 200 tonnes of gold to the Reserve Bank of India for $6.7 billion, quietly executing half of a long-planned bullion sale that has threatened to slow gold's ascent. The sale, which surprised traders who expected China to be the leading buyer, will relieve...
  • Gold jumps more than 2 per cent on bargain hunting October 20, 2008

    Singapore: Gold jumped more than 2 per cent on bargain hunting on Monday. Experts say that this could be due to a 9-per cent fall in prices last week, a recovery in crude oil prices and a weaker dollar against the euro. The combination seems to have given investors enough reasons...
  • Gold prices climb Rs 1,000 per 10 gm in a day September 18, 2008

    New Delhi: Gold prices soared on Wednesday, registering the highest one-day climb in 26 years. The United States of America Government's bailout of American International Group, Inc. (AIG) has created further panic amongst equity investors and many have pulled money out of equities and into safe-haven assets. Gold prices shot up by...
  • Glittering Gold: Prices slip, imports on the roll August 20, 2008

    Mumbai Price of gold plunged to below $800 per ounce level for the first time in 8 months. These falling prices are luring buyers. India, the world's biggest buyer of bullion, may increase its gold imports for the first time in nearly 12 months. The first half of 2008 saw...
  • Gold rush worldwide, govts run for precious metal March 15, 2008

    New York: It's a commodity that's been coveted throughout the ages — in jewellery, art and of course on the silver screen. The Oscar itself is plated with gold. But when it comes to serious amounts of gold, even the fabulously wealthy can't hold a candle to the world's richest governments,...
  • Festival bonanza: Gold prices ease out September 29, 2006

    New Delhi: Both the precious metals, silver and gold, declined on the bullion market today on lack of buying support amid new stocks arrivals to meet the seasonal demand, and closed with losses. While gold was quoted slightly lower, prices of silver plunged on lack of buying amid new stocks arrival...