Total export of gold, silver and coins in the month of June 2014 stood at 3.9 billion Swiss franc
Gold demand in rural India is expected to be lower this year with weak monsoon affecting household savings, according to the World Gold Council (WGC).
At nine-month high, current prices attractive; consumers want to cash in before a correction
Indian jewellers such as Gitanjali Gems, Malabar Gold and Kalyan Jewellers have opened stores abroad to limit the slump in sales.
Gold demand in India -- one of most avid purchasers -- is interwoven with culture, tradition, the desire for beauty and the desire for financial protection.
Shanghai Gold Exchange plans to open a centre at GIFT City, in partnership with BSE or NSE
Historically, tensions in West Asian regions have provided support to gold prices.
Based on the estimate, a courier bringing in 1 kg of gold currently worth around $40,000 at world prices could earn $470 if not caught.
Amid concerns of bullion trade being used for routing of black money, Switzerland's gold exports to India have risen further and is fast approaching Rs 1-trillion mark for the entire 2014.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
The price is at a 4-year low, stabilising around Rs 25,000/10gm.
With gold prices touching their all-time high on Wednesday, jewellery majors were taking measures to attract more consumers. These included more category launches, lower-weight jewellery and store expansion, among others.
A sharp decline in sales and prospects of a grim future have resulted in a fall in jewellery stocks.
The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
Amidst concerns of liquidity crunch due to weak sentiments in stock markets across the globe, investors have started winding up their positions in commodities such as gold, silver and nickel. Investors are selling off their positions in commodities market globally because of the liquidity crisis owing to weak stock market trends internationally, analysts said.
The bullish outlook for gold is seen as a trigger for silver to perform better going ahead.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
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.
Passengers entering India will now have to declare Indian currency exceeding Rs 25,000 and LCD, LED or Plasma televisions.
Indian economy has good fundamentals and sizeable foreign reserves, RBI Governor Raghuram rajan said.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
'After Rajan is back in India, our resident dons are almost down. I won't say that they are out. So, now the obvious question is about Dawood, and the present government, I think, is more than willing to address that issue.' 'I think the political system made this kind of people; the corporate world made this kind of people. I have mentioned in my book that even the banks were using these outlaws to get their money back.'
Launching a scathing attack on Prime Minister Narendra Modi, Opposition parties on Wednesday alleged that selective leak of information on demonetisation of 500 and 1000 rupee notes to 'friends of BJP' and demanded making public the names of those who had bought gold and foreign exchange of over Rs 1 crore since April.
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