The report also highlights a sharp rise in the value of gold reserves due to higher global prices and rupee depreciation. India’s overall foreign exchange reserves remained strong at $691.11 billion, reinforcing the central bank’s stable reserve position. | Photo Credit: ANGELIKA WARMUTH Sources in the Finance Ministry on Wednesday denied media reports claiming that…
India has tightened restrictions on silver imports by adding grain and powder forms to the list of restricted categories and mandating prior valid import authorisation, as the world’s biggest consumer of the metal tries to rein in shipments and ease pressure on the rupee. Imports of silver in the form of grains, powder, other forms…
See also: | Photo Credit: scanrail Gold rose more than 1% on Tuesday, buoyed by lower US Treasury yields, while weaker oil prices eased fears of higher inflation and elevated interest rates. Spot gold rose 1% to $4,525.72 per ounce by 0900 GMT. US gold futures for August delivery gained 1.1% to $4,556. Oil prices…
Silver prices climbed by Rs 5,054 to Rs 2.71 lakh per kilogram in futures trade on Tuesday, tracking strong gains in overseas markets as investors assessed developments in West Asia and awaited key US economic data. On the Multi Commodity Exchange, the white metal appreciated by Rs 5,054, or 1.9 per cent, to Rs 2,71,217…
Gold prices climbed nearly 1 per cent to Rs 1.60 lakh per 10 grams in futures trade on Tuesday amid renewed geopolitical uncertainty surrounding the US-Iran conflict. On the Multi Commodity Exchange, the yellow metal contract for August climbed by Rs 1,313, or 0.82 per cent, to Rs 1,60,554 per 10 grams in a business…
Gold prices retreated by ₹2,500 to ₹1.60 lakh per 10 grams in the national capital on Monday, tracking losses in global markets as renewed military exchanges between the US and Iran spiked crude oil rates. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity depreciated by ₹2,500, 1.53 per…
Gold prices on Monday dropped ₹1,084 to ₹1,59,827 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by ₹1,084, or 0.67 per cent, at ₹1,59,827 per 10 grams in a business turnover of 992 lots. Analysts attributed the fall…
Silver prices rose 0.19 per cent to ₹2.67 lakh per kg in the futures trade on Monday amid the West Asia crisis. On the Multi Commodity Exchange, the white metal for July delivery increased by ₹502, or 0.19 per cent, to ₹2,67,500 per kilogram in a business turnover of 590 lots. Fresh positions built up…
Augmont, one of India’s leading digital gold platforms, has launched an AI-powered gold purity evaluation machine at its Poonamallee gold loan branch in suburban Chennai, Tamil Nadu. Powered by advanced robotic and AI-led assessment technology, the machine enables customers to instantly evaluate the purity of their gold ornaments in a transparent, non-invasive, and hassle-free manner,…
Multi Commodity Exchange of India, the country’s largest commodity derivatives exchange, has launched futures trading in ‘Silver 100’ on Monday. Currently, the exchange has Silver Futures contracts on 30kg, 5kg, 1kg contracts and in Options, it trades in 5kg, 30kg monthly contracts. All the contracts are well received by the industry and trades with good…
