Rajesh Bhayani

All stories by Rajesh Bhayani

Gold import lowest in 10 years, March saw huge plunge

Gold import lowest in 10 years, March saw huge plunge

Rediff.com4 days ago

The month of March could be worst in many years, with imports estimated only around 18 tonnes amid the coronavirus pandemic and the nationwide lockdown, said an industry player. The import in March 2019 was 72.5 tonnes, according to the GFMS data.

Coronavirus: Essential goods market faces labour shortage

Coronavirus: Essential goods market faces labour shortage

Rediff.com24 Mar 2020

Nilesh Veera, director of APMC said, complained that availability of workers is a big problem. They have asked the government to provide enough sanitizers, masks, etc, for worker safety, to call them back. There has been no reply.

Gold takes a beating, falls by Rs 3000 in a week

Gold takes a beating, falls by Rs 3000 in a week

Rediff.com14 Mar 2020

Gold price in Mumbai's physical market on Friday fell 31.1 per cent or Rs 1,351 to close at Rs 41,848 per 10 gramme. Friday's fall in per cent terms is worst after November 2015 and, in absolute terms, the worst after August 2013. Silver prices fell Rs 2,255 to close 5 per cent lower at Rs 43,085 per kg on Friday.

After 5 months RBI buys gold, now holds 625 tonnes

After 5 months RBI buys gold, now holds 625 tonnes

Rediff.com18 Jan 2020

The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.

Gold is still the 3rd-most popular investment choice

Gold is still the 3rd-most popular investment choice

Rediff.com19 Nov 2019

A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.

'Things are not that bad in India'

'Things are not that bad in India'

Rediff.com18 Nov 2019

'India can afford more debt at this juncture.' 'India's fiscal deficit is still manageable.'

Jewellers report fall in gold demand in September quarter

Jewellers report fall in gold demand in September quarter

Rediff.com2 Nov 2019

The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.

Gem and jewellery sector fails to shine in H1

Gem and jewellery sector fails to shine in H1

Rediff.com11 Oct 2019

The industry alleges the government has been apathetic, despite their pleas for quick action. However, H2 may be different as The US-China trade war had opened a window for Indian exporters to ship more to America.

Jewellers may miss Diwali sparkle this year

Jewellers may miss Diwali sparkle this year

Rediff.com10 Oct 2019

As gold prices turn prohibitive, traders fear a drop of as much as 50% in sales over the previous season.

Demand for gold, imports nosedive to 3-year low

Demand for gold, imports nosedive to 3-year low

Rediff.com28 Sep 2019

This is good news for the central government at a time when crude oil prices are rising.

Prices of precious metals continue to rise

Prices of precious metals continue to rise

Rediff.com5 Sep 2019

The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.

RBI gets windfall from rising gold prices

RBI gets windfall from rising gold prices

Rediff.com10 Aug 2019

The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling.

Gold may hit Rs 40,000 per 10 gm by the end of 2019

Gold may hit Rs 40,000 per 10 gm by the end of 2019

Rediff.com8 Aug 2019

Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.

Why gold smuggling is likely to see a sharp rise

Why gold smuggling is likely to see a sharp rise

Rediff.com10 Jul 2019

Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.

Tax sops in Budget to make GIFT City a global financial hub

Tax sops in Budget to make GIFT City a global financial hub

Rediff.com8 Jul 2019

Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.

Gold enters long-term bull market, but...

Gold enters long-term bull market, but...

Rediff.com26 Jun 2019

A substantial fluctuation is likely because for a long period gold has moved in a narrow range of $ 50-60 and at higher levels short positions were built.

Impure Indian gold jewellery? Not anymore!

Impure Indian gold jewellery? Not anymore!

Rediff.com21 Jun 2019

If hallmarking data are anything to go by, the proportion of spurious jewellery in the country might have shrunk significantly in the past five years.

2 reasons why India's umbrella makers are happy

2 reasons why India's umbrella makers are happy

Rediff.com12 Jun 2019

First, the industry is hoping for brisk business, as, according to projections there will be normal monsoon. Secondly, it is relieved at the fall in import of cheap umbrellas from China which had dented the domestic market for several years.

Why onions are likely to get costlier

Why onions are likely to get costlier

Rediff.com7 Jun 2019

The fear of price rise gained momentum after reports surfaced that the NAFED procured 50,000 tonnes of onion this season.

How NITI Aayog plans to tackle farm distress

How NITI Aayog plans to tackle farm distress

Rediff.com27 May 2019

NITI Aayog has been working on an action plan to relieve rural distress and energise the agricultural sector

Sebi finally notifies rules for MFs to enter commodity space

Sebi finally notifies rules for MFs to enter commodity space

Rediff.com22 May 2019

Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.

In a first, Maharashtra proposes single-window registration of land titles

In a first, Maharashtra proposes single-window registration of land titles

Rediff.com21 May 2019

State's move is seen as a pilot for a national rollout of online land title records. Maharashtra plans to start the system in Mumbai.

Are we heading for a global economic crisis?

Are we heading for a global economic crisis?

Rediff.com18 Apr 2019

What do the fluctuating gold-silver price ratio portend?

Now eggs and potatoes on BSE, NSE's trading menus

Now eggs and potatoes on BSE, NSE's trading menus

Rediff.com17 Apr 2019

While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.

In about 7 years, digital gold accounts cross 80 million

In about 7 years, digital gold accounts cross 80 million

Rediff.com11 Apr 2019

Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.

Gold cheaper by Rs 2,000 over past 5 weeks

Gold cheaper by Rs 2,000 over past 5 weeks

Rediff.com1 Apr 2019

A strengthening rupee following a sharp surge in the inflow of foreign money from investors and "illegal imports" were among some of the reasons for the fall.

RBI may soon become world's 10th largest holder of gold

RBI may soon become world's 10th largest holder of gold

Rediff.com12 Mar 2019

Indian central bank may soon edge out its counterpart in the Netherlands from the top-10 list, as latter's holding has largely remained unchanged.

Why gold prices fell by over 5% in just 15 days

Why gold prices fell by over 5% in just 15 days

Rediff.com8 Mar 2019

Reversal is because of strengthening rupee, subdued demand, and lack of reasons for bulls to continue positions and speculation of reduction in import duty.

Another Chinese invasion, albeit with a difference

Another Chinese invasion, albeit with a difference

Rediff.com30 Jan 2019

Shanghai Gold Exchange plans to open a centre at GIFT City, in partnership with BSE or NSE

Mumbai Police arm issues fresh notices to 300 NSEL brokers

Mumbai Police arm issues fresh notices to 300 NSEL brokers

Rediff.com24 Jan 2019

Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".

Despite govt's diktat, gold round-tipping is still flourishing

Despite govt's diktat, gold round-tipping is still flourishing

Rediff.com2 Jan 2019

Round-tipping creates the opportunity for exporters to source funds at a much cheaper cost, which they divert to some other business.

India readies plan to sell only 'clean' diamonds worldwide

India readies plan to sell only 'clean' diamonds worldwide

Rediff.com14 Nov 2018

All stakeholders in the diamond industry chain from mines to retailers have to follow a system of warranty under which they have to individually declare in the invoices they issue that what they have sold are not conflict diamonds.

Why it makes sense to invest in silver now

Why it makes sense to invest in silver now

Rediff.com31 Oct 2018

The bullish outlook for gold is seen as a trigger for silver to perform better going ahead.

300 NSEL brokers face heat from Mumbai police

300 NSEL brokers face heat from Mumbai police

Rediff.com1 Oct 2018

Sebi filed a criminal complaint against the brokers with the economic offences wing, which on Friday registered a case under the Forward Contract Regulation Act 1952.

Gold demand may fall in flood-hit Kerala

Gold demand may fall in flood-hit Kerala

Rediff.com28 Aug 2018

'Expenditure on gold jewellery in Kerala is the highest in the country.' 'But the robust demand has been affected by the floods.'

All you want to know about dabba trading in bitcoins

All you want to know about dabba trading in bitcoins

Rediff.com6 Aug 2018

Since trading in virtual currencies is not illegal, they traded in cash or through barter in some instances.

After 9 years, RBI once again adds gold to forex reserves

After 9 years, RBI once again adds gold to forex reserves

Rediff.com3 Aug 2018

In April and May, there were additions by RBI of 600 kg and 900 kg. RBI's total gold holding is now 561.9 tonnes.

India's latest farm woe: Where to store the agri products?

India's latest farm woe: Where to store the agri products?

Rediff.com24 Jul 2018

If more commodities which have seen a sharp rise in MSP are to be procured, such as pulses, oilseed and cereals, there could be a storage problem. Also, if state-owned Cotton Corporation of India joins in, this problem will aggravate.

Futures trading in petrol, diesel may get Sebi nod

Futures trading in petrol, diesel may get Sebi nod

Rediff.com29 May 2018

Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading

RBI adds 2.5 tonnes of gold to forex reserves in Q4

RBI adds 2.5 tonnes of gold to forex reserves in Q4

Rediff.com11 May 2018

India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.

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