Chinese stocks plummeted 9 per cent on Monday
Veterans recall they haven't seen gold falling for 3 years in a row.
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.
Imports in July 2012 were 65 tonnes, said a bullion analyst.
At ATMs, as a step to avoid getting Rs 2,000 notes, people are withdrawing Rs 1,900 in Rs 100 notes and then putting another request for the balance Rs 600, so that they remain within the limit of Rs 2,500 per day of withdrawal.
Import in the first nine months of the current calendar year fell 20 per cent to 525 tonnes from 658 tonnes in the year-ago period.
Move comes after agencies unearth several cases of misuse of the 80:20 scheme.
In China, premiums fell to about $1.50 an ounce on Friday from $2-$3 an ounce.
The fair market value of an immovable property will be higher from the acquisition cost.
Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
For India to monetise gold, it is not the institutional depositor that policymakers must target but the average retail depositor.
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Currently, there is no standard method for arriving at the value of gold accepted as collateral and valuation is arbitrary and opaque.
India must take urgent measures like issuing sovereign guaranteed bonds and exempting FIIs from short term capital gains tax to stem the rupee's slide, India Inc said.
The iconinc Zaveri Bazaar in south Mumbai does business of around Rs 3 trillion a year.
The 30 share Sensex ended up 183 points at 27,470 and the 50-share Nifty gained 44 points to close at 8,295.
Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
On the face of it, there could be a bump up in tax filings, but its impact on tax collections is not that straightforward
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