All stories by Rajesh Bhayani
Gold rises to lifetime high even as profit-taking loomsRediff.com30 Jul 2020
Any shift in investor sentiment may result in speculators fleeing the gold market, driving its price down sharply, quickly. One significant risk for gold is a near-term reversal in the dollar, which recently fell to a two-year low.
As demand shrinks, gold import likely to fall to 17-year lowRediff.com21 Jul 2020
Those interested in investing in gold have shifted to instruments, such as sovereign gold bonds and gold ETFs. Many others are, in fact, selling gold or using it as collateral to generate short-term liquidity.
At Rs 52,195/kg silver turns most expensive since Sep 2013Rediff.com17 Jul 2020
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
Sovereign gold bond sale in May highest since launchRediff.com28 May 2020
The government has sold SGBs worth Rs 1,990 crore in April and May alone.
Silver likely to outperform goldRediff.com22 May 2020
Silver has been quoting at a premium in India since mid-March because of huge scarcity.
Why govt is keen to buy your goldRediff.com21 May 2020
It plans to use it as collateral, along with forex reserves, to print currency.
Gold up 1.7% in Mumbai as north India opens jewellery storesRediff.com19 May 2020
Gold and silver became costlier in the country following the international price rise over the expectations of negative interest rates in the US, the rising trade tensions between the US and China and the weakening of the rupee.
Akshaya Tritiya was never so dull for jewellersRediff.com27 Apr 2020
Industry estimates over 30 tonnes of gold were sold on Akshaya Tritiya this time.
Gold import lowest in 10 years, March saw huge plungeRediff.com1 Apr 2020
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 shortageRediff.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 weekRediff.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 tonnesRediff.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 choiceRediff.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'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 quarterRediff.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 H1Rediff.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 yearRediff.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 lowRediff.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 riseRediff.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 pricesRediff.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 2019Rediff.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 riseRediff.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 hubRediff.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...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!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 happyRediff.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 costlierRediff.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 distressRediff.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 spaceRediff.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 titlesRediff.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?Rediff.com18 Apr 2019
What do the fluctuating gold-silver price ratio portend?
Now eggs and potatoes on BSE, NSE's trading menusRediff.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 millionRediff.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 weeksRediff.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 goldRediff.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 daysRediff.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 differenceRediff.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 brokersRediff.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 flourishingRediff.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 worldwideRediff.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.