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Gold edged ‌lower on Wednesday after strong US inflation data dampened ​speculation of near-term interest rate cuts, with investors ⁠also focused on an upcoming meeting between U.S. President Donald Trump and Chinese counterpart Xi Jinping. Spot gold was down 0.4% to $4,694.59 per ounce ‌at 0946 GMT, retreating from a three-week high hit in the…

Gold rates rise across India on May 13 | Photo Credit: SIVARAM V Gold prices in India have seen an upward trend today, May 13, with an increase seen across all major cities. The price of both 22-carat and 24-carat gold has risen compared with the previous session. This report provides a detailed, city-by-city breakdown…

Stack of gold bars. | Photo Credit: brightstars The significant increase in the import duty on gold from 6 per cent to 15 per cent may lead to an increase in imports from Dubai through the free trade agreement route, think tank GTRI said on Wednesday. It said that the duty hike also sharply changes…

The government recently increased gold import duty to 10% from 5% and agriculture cess to 5% from 1%. | Photo Credit: istock.com Pointing out that hiking import duties has historically failed to meaningfully curb gold imports, Gem and Jewellery Export Promotion Council (GJEPC) on Wednesday said the government’s latest move may only push up domestic…

India imports nearly 700–800 tonnes of gold annually, resulting in significant foreign exchange outflows and pressure on the current account deficit | Photo Credit: K_MURALI_KUMAR Malabar Gold & Diamonds has submitted a comprehensive proposal to the Government recommending strategic enhancements to the Gold Monetisation Scheme (GMS). The jeweller appealed for responsible gold consumption and the…

The move aims to curb rising imports of precious metals amid strong investment demand, record inflows into gold ETFs and pressure on India’s forex reserves. | Photo Credit: iStockphoto Two days after the Prime Minister’s appeal to postpone buying of gold for a year, the Finance Ministry late on Wednesday raised the import duty on…

The move comes amid rising gold demand, record inflows into gold ETFs, and pressure on the rupee. Industry experts warned that the higher tariffs could dampen demand and trigger a revival in gold smuggling, which had eased after tariff cuts in 2024 India has ​raised import tariffs on gold and silver to 15% from 6%,…

Jewellery stocks declined for the second day on Tuesday, with Thangamayil Jewellery tumbling over 8 per cent, after Prime Minister Narendra Modi called for postponing the purchase of gold for one year to save foreign exchange amid the West Asia crisis. Shares of Thangamayil Jewellery plummeted 8.32 per cent, Senco Gold plunged 6.39 per cent,…

CaratLane, a jewellery brand from the Tata Group has announced the launch of its new manufacturing facility in Chennai, marking   Located at the SIDCO industrial estate, the 32,000 sq ft facility spread across four floors is expected to double CaratLane’s overall production capacity. The facility will generate approximately 100 new specialised jobs, the company said in a media release.   ,“This new manufacturing facility in Chennai represents a strategic investment in strengthening our supply chain and scaling operations to meet…

As Prime Minister Narendra Modi has appealed for austerity measures in view of the tensions in West Asia, India’s rising gold imports are drawing attention. Emphasising that the Centre is trying to shield people from the adverse impact of the conflict in West Asia, Modi on Sunday called for judicious use of fuel, postponement of…