The World Gold Council (WGC) has proposed an initiative to build a physically-backed shared infrastructure to advance the growth of digital gold. WGC through a white paper has proposed the concept of ‘Gold as a Service’, a platform owned and operated by the World Gold Council and built as shared infrastructure that any market participant…
Exporters of gold and silver jewellery will now get higher refunds under the Drawback Rules. Finance Ministry has notified a quarterly review of All India Rates of Duty Drawback for gold jewellery and silver jewellery/articles. Accordingly, new rate under tariff item 711301 (pertaining to articles of jewellery and parts, made of gold) will be ₹773.17…
Gold prices increased in the domestic market despite the weak trend in global markets as the rupee continued to depreciate against the dollar. The yellow metal prices were up by ₹420 on Friday to ₹1,51,479 per 10 g against ₹1,51,059 on Thursday. In fact, the precious metal opened weak by ₹395 at ₹1,50,664 but gained…
Gold prices fell ₹462 to ₹1.51 lakh per 10 grams in futures trade on Friday, tracking weak global trends amid a stronger US dollar and rising crude oil rates. On the Multi Commodity Exchange, the yellow metal for June delivery declined ₹462, or 0.3 per cent, to ₹1,51,299 per 10 grams in a business turnover…
Silver prices plunged ₹2,577 to ₹2.38 lakh per kilogram in the national capital on Friday, tracking weak trends and subdued demand by investors. On the Multi Commodity Exchange, the white metal for May delivery depreciated by ₹2,577, or 1.07 per cent, to ₹2,38,936 per kg. Analysts said silver prices fell in line with losses in…
See also: | Photo Credit: scanrail Gold prices fell on Friday and were on track for a weekly drop, as elevated oil prices fuelled fears of inflation and higher-for-longer interest rates amid stalled U.S.-Iran peace talks. Spot gold was down 0.7% at $4,661.33 per ounce, as of 0426 GMT. The metal is down 3.5% so…
China and India have primarily ensured that net investments in physically-backed gold exchange-traded funds (ETFs) are positive, though 68 per cent of investors have exited as of April 17, data from the World Gold Council (WGC) showed. China has been the top source of investments in gold ETFs, making up $9.04 billion, followed by India…
Analysts said a sell-off by participants mainly weighed on silver prices. Silver prices on Thursday fell by ₹4,205 to ₹2,44,159 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for the May delivery declined ₹4,205, or 1.69 per cent, to ₹2,44,159 per kg in a business turnover of 1,281 lots….
Gold and silver fell in early Friday trade, with spot gold down 0.23 per cent to $4,721.50 per ounce and silver declining 2.39 per cent to $76.03 per ounce, as a partial easing of US-Iran tensions reduced immediate safe-haven premiums even as crude oil held firm above $90. Gaurav Garg, research analyst at Lemonn Markets,…
Gold fell in choppy trade on Thursday as elevated oil prices fuelled fears of inflation and prolonged high interest rates, while investors looked for clarity on stalled peace talks between the US and Iran. Spot gold was down 0.7% at $4,705.09 per ounce, as of 0215 GMT. US gold futures for June delivery fell 0.6%…
