The World Gold Council, declared that the rise in gold import duty in the Union Budget may lead to additional smuggling of gold, especially during periods of high demand such as the festival season. For full story, click here
India’s doubling of import duty will have little impact on the domestic gold market. For full story, click here
State-run MMTC Ltd, the country’s leading importer of gold, today announced that it will import 150 tonnes of the yellow metal during the 2009-10 fiscal. MMTC chairman and managing director Sanjiv Batra stated: We will import 150 tonnes of gold this fiscal. For full story, click here
India, which did not import gold in last two months, is expected to import 30 tonnes in April as demand for the precious metals have risen following dip in the prices. For full story, click here
By Kishori Krishnan Exclusive To Gold Investing News With friends like these, who needs enemies? Silver and gold have a new best friend amongst their midst – Ben Bernanke. His pronouncement has engineered one of the last decade’s most dramatic turnarounds, with gold price leaping nearly 60 bucks and silver joining in the melee with a [...]
India might be the biggest importer of gold, but it has not shipped in the precious metal in February as demand has decline due to record high prices. For full story, click here
Gold imports in India declined 27 % in October from a year earlier reversing a 2 month surge as volatile prices and fall of the local currency hit demand. Suresh Hundia, president of the Bombay Bullion Association, said: Imports in the world’s largest gold consumer fell to 44 tonnes in October from 60 tonnes in [...]
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