Globally, gold climbed 0.7 per cent to $1,161.85 an ounce in Singapore.
'Initially, Gift City was just another real estate project, but all that changed with Modi moving to New Delhi,' notes Tamal Bandyopadhyay.
Fallen Libyan dictator Muammar Gaddafi may have emptied the country's estimated gold reserves worth $10 billion and will use it to buy protection and wage a guerrilla war, the nation's former chief banker has said.
Gold surged Rs 400 to Rs 28,940 per 10 grams on Tuesday on brisk buying by stockists and jewelers for the ongoing marriage season amid a firming global trend.
Gold declined by Rs 190 to Rs 31,950 per 10 grams in the bullion market in New Delhi on Monday, while silver lost Rs 800 to Rs 60,400 per kg on subdued demand at higher levels.
Gold demand in India is expected to be robust in 2014, likely leading to a further jump in smuggling if curbs on bullion imports remain, the World Gold Council (WGC) said.
The rupee has been witnessing an unprecedented plunge in its value as it dropped to an all-time intra-day low of 68.75.
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
Silver, however, recovered by Rs 250 to Rs 36,000 per kg.
Gold, silver shine in Diwali trade on jewellers buying
Silver also jumped by Rs 1,000 to Rs 57,000 per kg on strong global cues.
With every year, Anil Kapoor looks younger, smarter, dapper.
Silver settled at Rs 37,280 per kg after firming up by Rs 230.
Prime Minister's Economic Advisory Council Chairman C Rangarajan dashes bullion firms' duty cut hopes.
Globally, in Singapore, gold traded a tad higher at USD 1,182.22 an ounce, from $1,182.01 on Thursday.
Globally, gold climbed $12.10, or 1 per cent, to $1,220.40 an ounce.
Gold prices fell back after a brief overnight rebound on the first trading day of 2015 at the domestic bullion market due to reduced stockists offtake as well as lack of local buying interest.
Gold climbed to an all-time high of Rs 28,150 per 10 grams in the national capital on Friday, posting its biggest-ever single day gain of Rs 1,310 amid frantic buying triggered by robust demand in global markets.
Gold rises on firm demand, global buoyancy
PAN may also be required for cash payment of Rs 100,000 or more as life insurance premium, amid concerns that insurgents may be parking funds in high-value insurance policies.
Gold prices on Wednesday jumped to all-time high of Rs 30,420 per 10 grams in the bullion market here on the back of soaring demand ahead of the wedding season amid firming trends in global markets.
Official imports into India shrank almost 90 per cent in the six months to November
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.
Turnover stood at Rs. 73.50 lakh crore in the year-ago period, the commodity markets regulator FMC said.
Be ready to mandatorily flash your PAN card, for any purchase of jewellery worth Rs 5 lakh (Rs 500,000) or more from Friday -- a move that would help the tax department keep an eye on such high value transactions.
India, desperate to trim a gaping current account deficit, took a slew of measures last year to curb demand for bullion
Around 200 brokers are said to be involved in the scam; they have been summoned for questioning. Major brokerages questioned by the EoW so far include Anand Rathi, Motilal Oswal, India Infoline and Geojit Comtrade.
Silver also dropped by Rs 550 to Rs 40,350 per kg.
Gold schemes are offering attractive returns to investors.
Spot gold was substantially higher at USD 1,117.40 an ounce in early European trade.
Trading sentiment turned extremely bullish as gold and silver soared to a record levels in 31 years in global markets as inflation in China accelerated underscoring the challenge that central bankers worldwide face in combating rising prices.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
While gold surged Rs 200 to Rs 21,420 per 10 gm on rising seasonal demand, silver rose by Rs 1,250 to Rs 54,450 per kg on heavy buying by stockists and industrial units, amid firm global cues.
Surpassing all previous levels, gold hit a new high by rising Rs 200 to Rs 21,270 per 10 grams on the bullion market on Wednesday on aggressive buying by stockists
Gold prices gained marginally, in an otherwise listless and cautious trading on the bullion market in Mumbai on Saturday owing to stray buying support.
Silver met with resistance and fell by Rs 200 to Rs 36,000 per kg.
Silver staged a comeback by rising Rs 300 to Rs 36,800 per kg,
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Silver followed suit and dropped by Rs 325 to Rs 37,100 per kg.
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