Silver imports rose even faster, surging 157% to $411 million during the month. | Photo Credit: Edgar Su Days after sharply raising import duties on gold, silver and platinum and capping duty-free gold imports for use in jewellery exports, the Centre on Friday tightened import norms for select categories of silver bars by moving…
Customs officials said the gold was being smuggled into India as contraband and was seized under Section 110 of the Customs Act, 1962. Customs officials at the Indira Gandhi International Airport here have seized 115 smuggled gold bars weighing 3.5 kg from an American national of Indian origin, who allegedly concealed the contraband in a…
Gems and Jewellery exports declined by 9 per cent in April to $2.45 billion (Rs 20,952 crore) due to the ripple effect of ongoing geopolitical tensions in West Asia, which has led to the trade taking a cautious approach in the near term. Imports declined by 10 per cent to $2.03 billion last month. Export…
Gold and silver prices witnessed a sharp decline in the national capital on Friday amid a stronger US dollar and heavy profit-booking by investors. | Photo Credit: iStockphoto Silver prices plunged by Rs 21,600 to Rs 2.75 lakh per kg while gold dropped by Rs 3,200 to Rs 1.62 lakh per 10 grams in the…
Madurai-based Thangamayil Jewellery Ltd doubled its net profit to ₹142 crore for the fourth quarter ended March 2026, as against ₹39 crore in the corresponding quarter last year. Revenue more than doubled to ₹2,839 crore (₹1,380 crore). Gold jewellery sales went up by 105 per cent to ₹2,503 crore in Q4FY26. Non gold (Silver, Diamonds,…
Other precious metals, including silver, platinum and palladium, also declined sharply. Gold dropped 2% on Friday as surging Treasury yields and a stronger U.S. dollar dulled its appeal, with higher oil prices and persistent tensions in the Middle East reinforcing expectations of higher interest rates. Spot gold was down 2.2% at $4,546.45 per ounce by…
Gold prices down in India | Photo Credit: K K Mustafah Gold prices in India saw decrease today across all cities. The price for 8 grams of 24-carat gold also dropped in all cities compared to yesterday. Below is a detailed breakdown of gold prices in key cities. Gold rates in India: Gold prices in…
Gold prices fell sharply on Thursday and extended losses into Friday, pressured by a stronger US dollar, rising Treasury yields, and diminishing expectations of Federal Reserve rate cuts following hotter-than-expected inflation data. Spot gold settled near $4,650 per ounce on Thursday, down about 0.8 per cent on the day, and weakened further toward $4,610 on…
Gold discounts in India jumped to a record this week as a sharp import duty hike slowed demand and triggered investor selling, while investment demand kept Chinese premiums firm. Dealers in India quoted discounts of up to $207 an ounce over official domestic prices this week, inclusive of 15 per cent import and 3 per…
Stack of gold bars. | Photo Credit: DigitalVision A day after the Finance Ministry increased import duty on gold to 15 per cent from 6 per cent to discourage inflows, the Directorate General of Foreign Trade (DGFT) has tightened the regulatory framework for duty-free gold imports used by the gems and jewellery sector as inputs…
