Indians love affair with gold will never end. Despite a lull, there is heavy demand in the market.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
Last year on Dhanteras, the precious metal stood at Rs 31,400 per 10 grams.
RBI has permitted Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank to import gold.
Among the most valuable sources for gold mining production data, besides reports from mining companies themselves, are the Raw Materials Group in Solna, Sweden; Canada's Metals Economics Group in Halifax, Nova Scotia; and Intierra Resource Intelligence, based in Perth, Australia.
Gold exchange-traded funds (ETFs) have further lost favour among Indian investors.
However, silver coins gained Rs 500 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
A large number of successful IPOs ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, rose by nearly Rs 6 lakh crore during the year to Rs 106.23 lakh crore
Gold ($1,895 an ounce) superseded platinum ($1,872 an ounce) for the first time on September 5, 2011, due to rising investment demand of the yellow metal as a hedge against the global economic uncertainty.
Marketmen said the persistent fall in gold prices to increased selling by selling after the Reserve Bank eased curbs on import of the yellow metal, allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
Deposit certificates will also be exempt from capital gains tax.
'Gold could return 10% to 12% in the next two-three years.'
How should investors go about investing in gold and silver? Here are some simple rules.
Sri Lanka, Thailand and Singapore are the latest hotspots as authorities crack down on travellers from Dubai.
Buying had been muted in the past few weeks.
What are the tax implications of investing in gold bonds issued by the State Bank of India? Is there any tax liability associated with investing in gold? Read on to find out.
This statue, which is 28-foot tall including the pedestal, was made using the ancient lost-wax technique of metal casting that was used for making the famed Chola bronzes, sources said.
old tumbled by Rs 250 to over six-week low of Rs 26,150 at the bullion market today.
In 2013, the world gold exports were $283 billion approximately.
The duty, which is charged at the rate of 10 per cent, is payable in currency of the nation where the gold was bought.
Silver managed to recover some grounds.
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.
Gold is one of the world's most sought after metals.
Heard of Kesard Onji Dina? Which literally translates into 'One day in the mud'.
Silver also edged higher by Rs 100 to Rs 36,100 per kg.
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Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Experts advise investors to buy at lower levels in the next few months and sell at the higher end of their range in the second half, reports Rajesh Bhayani.
Here is all you need to know about hallmarking of gold.
Silver also found buying support and gained Rs 150 to Rs 37,350 per kg.
Global appetite for gold fell 21 per cent in the third quarter as outflows from physical bullion funds and the drop in buying from India offset firmer jewellery, coin and bar sales, a quarterly report from the WGC showed on Thursday.
Gold prices fell further at the local bullion market on Saturday due to reduced off-take by stockists as well as lack of local buying support at the existing levels.
Traders said sluggish demand due to ongoing 'Sharads', an inauspicious fortnight in Hindu mythology to make fresh purchases, mainly kept the precious metals lower.
Globally, gold lost 0.4 per cent to $1,274.19 an ounce in Singapore.
Experts attributed the inflows to sudden rally in gold prices, mainly due to uneasy trade negotiations between the US and China and lower than expected global GDP growth.
Report says gold being exported by persons of Indian origin and routed through Dubai
The country's gold jewellery exports climbed in August from the previous month on improving US demand.
In a high interest rate regime when all banks are offering loans at a lofty price, rates for loans against gold continues to be cheaper.
