The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
India celebrated Dhanteras, the biggest gold buying festival, followed by Diwali, when scarcity of the yellow metal and high prices pushed consumers to buy silver and diamond jewellery.
Though the agency did not include former Sebi chief CB Bhave and ex-member KM Abraham in the case, it recommended departmental action against the two.
However, Deloitte, the latter entity, says regulations don't mandate it to go beyond a basic examination of the books of accounts.
The exchange also asked traders to square off their trading positions in three contracts -- gold February 2015, kapas March 2015 and kapas April 2015.
Shares of Multi Commodity Exchange of India (have tanked over 11% to Rs 428 on back of heavy volumes on the bourses.
75 companies can dole out Rs 1.1 trillion from the 'extra cash' to shareholders.
Gold looks cheap compared to the stock markets that are highly overbought at the moment.
The board of directors at its meeting held on October 22, approved the said appointments, the exchange said in a regulatory filing on Wednesday.
Indians are no more rushing to buy bullion after this week's sharp sell-off
Bids for the issue, which opens on January 23 and closes on January 25, can be made for a minimum of 18 shares and in multiples of 18 thereafter.
The shares - close to 30% of the total holding - are expected to list on rival National Stock Exchange on or around February 3.
Deloitte, MCX's is learnt to have objected to PwC pointing out several irregularities in the exchange's expenditure, donations, etc, in its audit report.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
MCX said it has no exposure to crisis-hit NSEL, which has to settle dues worth Rs 5,600 crore to investors after it suspended trading.
Bullion traders said a weakening trend in global markets, as the dollar's strength eroded demand, mainly put pressure on the precious metal.
Eight FDI proposals worth Rs 1,311.54 crore (Rs 13.11 billion), including that of Norwegian telecom firm Telenor, have been cleared by the government on the basis of FIPB approvals.
Board to ask National Securities Depository to unfreeze 5% of FTIL's stake.
Sentiments remained bearish as gold fell to 16-week low in the overseas markets as positive US economic data backed the case for the Federal Reserve to keep on reducing monetary stimulus which has dimmed the metal's appeal.
A combination of fewer listings and falling 'average daily traded value' contributed to the drag in Q3.
Shah came under scanner last year, when his group company NSEL faced a payment crisis and nearly 18,000 investors allegedly lost millions in late July.
Petrol and diesel are among the 90-plus commodities that have been approved by the government for derivatives trading
In the last three financial years and in the current financial year till November 15, SFIO was asked to investigate 167 cases.
The licence of MCX-SX is coming up for renewal before Sebi later this month.
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Gold prices on Tuesday rose by Rs 227 to Rs 28,418 per 10 gm in futures trade, largely on speculative positions created by participants amid a firming trend at the spot market.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
A dedicated physical gold exchange could lead to standard gold pricing in India.
Tinesh Bhasin explains the pros and cons of trading in gold 'options', which were introduced in India this Dhanteras
Consumer sentiment seen better than last year's
Dhanteras is considered auspicious for investment and buying gold.
Making a weak opening, shares of FTIL further tanked 45 per cent to Rs 105.5 -- its fresh 52-week low on the BSE.
In a severe indictment, commodity market regulator FMC has said Jignesh Shah and his firm FTIL are not 'fit and proper' to run any exchange in the country and charged him of being the "highest beneficiary" in the NSEL scam.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
This measure will ensure that the price of a scrip cannot move upward or downward beyond a limit set for the day.
With equity and commodity exchanges allowed to enter each other's areas from October, brokerages are pump-priming their businesses to allow their clients seamless trading in commodities and equities.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
Special audit report conducted by the PricewaterhouseCoopers on Multi Commodity Exchange has met with another opposition. Earlier FTIL, the promoter of MCX had opposed its contents and now Venkat Chary who is FTIL's non-executive chairman has sent a notice to PwC. PwC report submitted to the FMC in last April mentioned the names of Key Management Personnel of MCX and the name of Venkat Chary was mentioned in that list. Chary was Chairman, MCX, during that period. Chary who had in past also served as Chairman of FMC objected to the PwC mentioning his name as the key management personal of MCX. He wrote to the audit firm saying that he was FMC-nominated Non-executive Independent Director and Chairman on the Board of Directors of MCX till July 13 when he resigned following revised FMC guidelines which laid down 70 years as the maximum age for Chairman/Director. Chary sighted provisions of Companies act and Section 2(51) of the Companies Act, which defines " key managerial personnel" in relation to a company include CEO or MD, whole time director, CFO, company secretary and other officer as prescribed. "As non-executive independent director and Chairman nominated/approved by the FMC, I did not fall within any of the above categories," said Chary and hence blamed PWC for not showing due diligence in your special Report to the FMC. Chary has sent a notice to PWC asking it to take immediate steps to rectify this error. Since PwC Report was placed in the public domain, "it has caused serious damages to my reputation as a practising Advocate of the Bombay High Court." Chary has asked PWC if remedial action are not taken he will report the case to the Institute of Chartered Accountants of India for professional misconduct under the Chartered Accountants Act, 1949, by showing gross negligence in the in professional duties. Chary has said, "I also intend to resort to the civil and criminal courts for damages/action against PWC." When contacted PwC spokesperson said that, "Our work has been executed to the expected professional standards and we stand by the content of our report submitted to the Forward Markets Commission". Chary is not the first to oppose PWC, FTIL it self had said the report was prepared without giving them chance to respond and have not accepted contents. Recently, Riddhi Soddhi Bullion, had sent a legal notice for mentioning its name as 'indulging in wash trades on MCX.' The leading bullion trader had claimed damages in their defamation suit.
The FMC had warned MCX that it would not renew contracts, allow new contracts and eventually take away the licence to run the bourse if the commodity exchange does not comply with regulatory norms.
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