'It has always been viewed as a hedge against inflation.'
The government has refuted rumours of a monetisation scheme for gold held by temple trusts and religious institutions, clarifying that such claims are false and misleading.
'Even last year, when India bought gold, the physical quantity was much less than the previous years.'
Police in Chhattisgarh's Mahasamund district seized 7.5 kilograms of gold worth Rs 9.17 crore from a car. The occupants of the car could not provide satisfactory answers about the gold's origin or produce relevant documentation.
Rapid growth in personal gold loans has raised concerns over borrower leverage, large-ticket exposure and volatility in gold prices, points out Swaminathan J, Deputy Governor, Reserve Bank of India.
A school teacher in Beed district, Maharashtra, was robbed of a gold chain worth Rs 1.05 lakh by two men on a motorcycle, police said.
A jeweller in Beed district was allegedly assaulted and robbed of Rs 3 lakh by fraudsters who promised to sell him gold biscuits smuggled from Dubai. Two suspects were arrested after their motorcycle crashed during their escape, while others remain at large.
Customs officials at Delhi airport seized 115 smuggled gold bars weighing 3.5 kg from an American national of Indian origin, who allegedly concealed the contraband in a specially designed belt.
Leading Indian jewellery bodies, including the All India Gem & Jewellery Domestic Council (GJC) and Malabar Gold & Diamonds, have expressed support for Prime Minister Narendra Modi's appeal to reduce gold imports and are advocating for enhancements to the Gold Monetisation Scheme (GMS) to unlock India's vast idle gold reserves.
Despite a sharp increase in import duties on gold and silver to 15 per cent, the precious metals are trading at significant discounts in the domestic market, with gold seeing discounts of up to $200 an ounce and silver up to $6 an ounce.
A gold jewellery firm in Bengaluru was allegedly cheated of Rs 3 crore by three men posing as wholesale buyers who decamped with ornaments.
'What exactly is on the prime minister's mind, we do not know. But it feels like the government wants the country to be prepared for unseen challenges ahead.'
Jammu and Kashmir Chief Minister Omar Abdullah congratulated 14-year-old boxer Mohammad Yasser from Rajouri on winning a gold medal at the Asian U-15 Boxing Championship in Tashkent, Uzbekistan.
Jannat Zubair Rehmani's feed is proof that subtle is overrated. With her film, Glory on OTT, and her fashion game shining just as bright, Jannat is fully in her metallic era serving gold, silver and everything in between like it's second nature.
With duties at 15%, GST at 3%, and making charges running as high as 20% -- the gap between a smart purchase and a careless one can easily be Rs 30,000 to Rs 50,000 on every Rs 1 lakh invested. And most of that gap is entirely avoidable. Ramalingam Kalirajan explains the math.
Thane Crime Branch arrests two women for allegedly stealing gold ornaments from citizens, solving nine cases and recovering jewellery worth Rs 37.19 lakh.
Revenue intelligence and customs officers are set to intensify surveillance and increase vigilance on international borders to combat potential gold smuggling following a significant increase in customs duty on gold.
A jewellery trader in Thane was allegedly cheated of Rs 14 lakh by six individuals who promised to sell him gold at a discounted price but failed to deliver.
India has capped gold imports under the Advance Authorisation scheme at 100 kg, a day after significantly increasing import duties on precious metals. This move aims to tighten conditions for duty-free gold imports by jewellery exporters and curb non-essential imports amidst a ballooning import bill.
Railways' Sonam Uttam Maskar won gold in the women's 10m air rifle event at the Kumar Surendra Singh Memorial Shooting Championship, with Elavenil Valarivan taking silver. Tilottama Sen, Sanvi R.P. also secured titles in junior and youth categories respectively.
A jewellery shop in Karnataka was robbed in the early hours of Saturday, with thieves making off with gold and silver worth over Rs 40 lakh.
The Indian government has increased import duties on gold and silver from 6 per cent to 15 per cent to curb inbound shipments of precious metals amid a rising import bill due to the West Asia crisis.
The Customs department seized gold worth Rs 3.15 crore from two passengers at Mumbai airport, including a finance professional smuggling gold due to US-Iran conflict concerns.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
The gems and jewellery industry anticipates challenging times following the government's decision to increase gold import duty to 15 per cent, a move that exporters warn could fuel the grey market and heighten smuggling risks.
Indian wushu player Aparna won a gold medal in the women's 52kg category at the 11th Sanda World Cup in Macau, defeating Vietnam's Thi Phuong Nga Ngo in the final.
The Indian women's recurve team, consisting of Deepika Kumari, Ankita Bhakat, and Kumkum Mohod, secured a dramatic shoot-off victory against China to win the gold medal at the Archery World Cup Stage 2 in Shanghai.
Army shooter Ganga Singh won gold in the men's 50m rifle 3-positions at the 24th Kumar Surendra Singh Memorial Shooting Championship. Haryana's Kamaljeet Choudhary and Surbhi Rao secured the 10m air pistol mixed team title.
Olympian Anish Bhanwala won gold in the men's 25m rapid fire pistol event at the 24th Kumar Surendra Singh Memorial Shooting Championship. Suraj Sharma won silver and Vijayveer Sidhu took bronze.
Jewellers in Lucknow protest Prime Minister Modi's appeal to defer gold purchases for a year amid the West Asia crisis, fearing significant business losses and economic hardship for those involved in the trade.
Madhya Pradesh's Nupur Kumrawat won the 50m rifle prone women's event at the 24th Kumar Surendra Singh Memorial Shooting Championship. Tamil Nadu's MA Akschadha Aiswarya secured the junior and youth women's titles.
The Indian trio of Deepika Kumari, Ankita Bhakat, and Kumkum Mohod secured the women's recurve team gold medal at the Archery World Cup Stage 2 in Shanghai, defeating China in a tense shoot-off. India finished the campaign with two medals, including a bronze in the men's individual compound section.
A home tutor in Delhi has been arrested for allegedly stealing gold and diamond jewellery from a house in Paschim Vihar. Police recovered the stolen items from her residence after an e-FIR was filed and CCTV footage was analysed.
A jeweller was robbed of gold jewellery, cash, and his scooter at gunpoint in east Delhi's Preet Vihar, police said on Monday. The incident occurred on Sunday night when the victim was returning home from his jewellery shop.
Rajasthan's Anjali Shekhawat won gold in the women's 10m air pistol event at the 24th Kumar Surendra Singh Memorial Shooting Championship. Haryana's Kanak Budhwar secured silver, and Punjab's Agam Ranjit Kaur Grewal took bronze. Haryana also dominated the team event.
The Indian women's recurve team, consisting of Deepika Kumari, Ankita Bhakat, and Kumkum Mohod, secured a gold medal at the Archery World Cup Stage 2 in Shanghai, defeating China in a tense shoot-off. This victory marks India's first World Cup women's team gold since 2021 and follows a stunning semi-final win against South Korea.
Congress leader Rahul Gandhi has criticised Prime Minister Narendra Modi's call for citizens to make economic sacrifices in response to the West Asia conflict, calling it 'evidence of failure'. Gandhi accused Modi of shifting responsibility onto the public and being incapable of running the country.
Rudrankksh Patil of Maharashtra won the gold medal in the men's 10m air rifle event at the Kumar Surendra Singh Memorial Shooting Championship, overcoming a challenge from Haryana's Rohit Kanyan.
Police in Gurugram have arrested four individuals involved in an interstate gold coin fraud, recovering a substantial amount of cash and gold. The alleged mastermind, Solanki Prabhubhai Gulshanbhai, has a long history of fraud and is accused of targeting high-profile individuals.
Vanshika Chaudhary and Chirag Sharma secured gold in the 10m air pistol mixed team event at the ISSF Junior World Cup in Cairo, boosting India's gold medal count to five. India leads the medal table with a total of 14 medals.
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