March was the worst month for gold imports because of a strike by jewellers over the imposition of an excise duty.
Gold is seen as a preferred asset for all types of investors, even central banks.
In the second half of April, the discount on gold came down to $3 an ounce.
Only three or four tonnes is estimated to have been mobilised under the scheme.
This could change the way diamonds are traded.
Now, government is also contracting imports.
Recent recovery in the white metal was reflected in a falling gold to silver price ratio.
The Bill to amend the Bureau of Indian Standards Act has been passed.
Duty changes in the Budget make refining unviable.
The GIFT City management is in talks with Hong Kong, London, and Singapore arbitration centres
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards.
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
The scheme is yet to take off.
Silver prices have fallen by eight per cent in 2015 to Rs 34,290 a kg.
Gold import in the December quarter is estimated to come down.
The Bureau of Indian Standards has certified 33 hallmarking centres in the country to act as collection and purity testing centres for the gold monetisation scheme.
Veterans recall they haven't seen gold falling for 3 years in a row.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
The price of gold in India seems to have bottomed out.
Import is returning to the normal prevailing three years ago
