Andhra Pradesh has also identified other potential mining sites, including Ramagiri, Javvakula and Chigurukunta Bisnatam. Andhra Pradesh will emerge as the largest supplier of gold to the country in a few years, an official said on Thursday, citing estimated reserves of 50 tonnes at Jonnagiri village in Kurnool district alone. Addressing a press conference, Mukesh…
Gold imports in India, the world’s second-biggest gold consumer after China, are driven by the jewellery industry demand. | Photo Credit: AJAY VERMA India’s gold imports have reduced about 70 per cent to 25-30 tonnes after customs duty on the yellow metal was more than doubled to 15 per cent, an official said on Thursday….
See also: | Photo Credit: scanrail Gold rose more than 1% on Thursday, recouping losses from the previous session, as a drop in oil prices following a US-Iran interim agreement dampened inflation expectations and supported bullion. Spot gold was up 1.4% at $4,316.42 per ounce, as of 0242 GMT, after declining 1.7% on Wednesday. U.S….
Silver prices on Wednesday fell by ₹959 to ₹2,49,146 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for July delivery declined by ₹959, or 0.38 per cent, to ₹2,49,146 per kg in a business turnover of 673 lots. Analysts said a sell-off by participants mainly weighed on silver prices….
Gold prices on Wednesday dropped ₹561 to ₹1,52,530 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange, yellow metal contracts for August delivery traded lower by ₹561, or 0.37 per cent, at ₹1,52,530 per 10 grams in a business turnover of 613 lots. Analysts attributed the fall…
Gold gained for a fifth consecutive session on Wednesday as optimism over a U.S.-Iran peace agreement eased expectations of U.S. interest rate hikes, while investors awaited further details on the deal and the Federal Reserve’s policy meeting. Spot gold was up 0.3% at $4,341.12 per ounce, as of 0230 GMT, trading near a one-week high…
India’s gems and jewellery exports declined 2.49% year-on-year in May due to high gold prices and supply constraints, according to GJEPC. | Photo Credit: – India’s gems and jewellery exports declined by 2.49 per cent year-on-year in May to USD 2,047.89 million (Rs 19,573.96 crores) following high gold prices and supply constraints, the Gem and…
About 89 per cent of global central banks that participated in a survey conducted by the World Gold Council believe gold reserves will increase over the next 12 months | Photo Credit: scanrail Given the growing global uncertainty, central banks of most countries plan to accumulate more gold as part of reserves in the next…
See also: | Photo Credit: scanrail Gold prices firmed on Tuesday after an interim US–Iran deal to end the war in the Persian Gulf eased bets of a US rate hike, with investors awaiting details on the agreement and the Federal Reserve’s policy meeting. Spot gold was up 0.8% at $4,341.39 per ounce at 0851…
The outflows were the highest as of date this year and followed exits to the tune of $2.71 million in the week ending June 5. | Photo Credit: istock.com Investors chose to encash $4 for every dollar invested in physically-backed gold exchange-traded funds (ETFs) last week, as investments continued to witness net negative inflows for…
