With the real estate sector witnessing robust demand, realtors are doling out freebies and offering a slew of attractive schemes to lure potential customers this festival season. "Developers are providing Amazon vouchers that go up to Rs 1 lakh, iPads, and flexible payment plans that propel customer excitement," said Angad Bedi, managing director at real estate company BCD Group. Bedi said customers have a mindset to go for a change during the festival season, and developers see it as an opportunity to combine it with long-term and practical offers that drive buyers to close in on a deal during this period.
India Bullion and Jewellers Association said, self-certification of coins by refineries contravenes the basic purpose of a certifying agency.
Finance Minister must be hoping that Indians get over gold-addiction.
A WGC survey says that there is no dearth of gold demand, but there is lack of trust among prospective gold buyers, not only in India but globally.
While players like Paytm, MobiKwik, and PhonePe allow you to buy gold for Rs 1, Amazon Pay has kept the minimum amount at Rs 5. Digital gold is essentially an avenue for investing in physical gold.
Retail investment demand for gold bars and coins as well as central bank purchases pushed the global gold demand by 28 per cent to 1,181.5 tonnes in the September quarter, according to the World Gold Council report. The total global demand stood at 921.9 tonnes during the July-September quarter of 2021, the World Gold Council's 'Gold Demand Trends Q3 2022' showed on Tuesday. Investment was down 47 per cent year-on-year as gold backed Exchange Traded Fund (ETF) investors responded to a challenging combination of higher interest rates and a strong US dollar with significant outflows of 227 tonnes.
Ninety coins in the denomination of Rs 5 and Rs 10 and ornaments like chains, nose rings, earrings, bangles, anklets, wrist bands and watches were found from the stomach of the 26-year-old.
This may free up resources for productive or lending purposes.
Stocks to watch: Videocon, Blue Star, Hitachi, MIRC Electronics, BPL, Whirlpool, Gitanjali, Titan Group
Gold schemes are offering attractive returns to investors.
For easy and wide access, the government plans to market the bond through post offices and various brokers.
About 42 people, including 14 tamers and 16 spectators, were injured in the second major event of the Pongal 2024 Jallikattu season at Palamedu in Madurai on Tuesday, January 16, 2024.
The Reserve Bank of India on Monday moved on Monday to tighten gold imports again in an attempt to rein-in a record high current account deficit by taming demand for the yellow metal.
The Delhi State Consumer Disputes Redressal Commission's decision to fine mobile phone firm Vodafone Rs 50 lakh (Rs 5 million) for offering prizes of gold coins and a Maruti SX4 as part of a promotional scheme is something all marketers in the country would do well to pay attention to.
Of the 1,000 surveyed by IIM-A, only five were aware about the government-sponsored gold schemes
The Finance Ministry has sought comments from stakeholders.
Gold and silver imports declined 80.55 per cent to $1.05 billion in November after a slew of measures taken by the government to curb inbound shipments of the metal, aimed at narrowing the current account deficit.
After recording significant decline in September, gold and silver imports jumped by 62.5 per cent to $1.3 billion in October this year.
The Commerce and Industry Ministry is pitching for easing of the gold import restrictions to boost gems and jewellery exports
Gold, silver and other precious metals along with imported mobile phones, certain cancer drugs and medical devices are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2024-25.
'Modiji's team has consented to his appearance at the wedding. But it can't be more than a fleeting appearance.'
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Imports of gold and silver in February 2013 stood at $5.24 billion. In January this year, they were $1.72 billion.
The current bear run has already been the second longest since 1975.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
The demand for gold has bounced back sharply in India from the lows seen in 2020 because of the outbreak of the Covid-19 pandemic, and has even beaten the pre-pandemic level. In the September quarter, the demand for gold jumped 47 per cent year-on-year (YoY) to 139.1 tonnes, as against 94.6 tonnes in the year-ago period, and higher than the 123.9 tonnes recorded in the pre-pandemic September 2019 quarter, the World Gold Council (WGC) said in its latest release. In value terms, demand surged 37 per cent year-on-year (YoY) to Rs 59,330 crore during the quarter.
Gold loans are a quick, easy and low-cost way to meet your immediate and emergency financing needs, but do ensure that you entrust your gold in safe hands after thorough due diligence, suggests Gaurav Gupta, founder and CEO, MyLoanCare.in.
Concern would kick in if imports stay at or over 100 tonnes a month.
India's current account deficit, which is the excess of foreign exchange outflows over inflows, touched a historic high of 4.8 per cent of GDP in 2012-13, mainly due to rising imports of gold and petroleum products.
Gold monetisation scheme will help unlock value of gold.
The fourth edition of the Red Sea International Film Festival saw Bollywood folk add a lot of glamour in Jeddah, Saudi Arabia.
Replaces China as imports more than double to 204 tonnes in September quarter, with demand up 39%.
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Gold companies have started reducing production. This implies that gold prices will not go on a free fall anytime soon
'Today, let us reaffirm our commitment to strive to realise Gandhiji's dreams. His watchwords, truth and nonviolence, will continue to remain relevant for the whole world. He also taught us that rights and duties are but the two sides of the coin - indeed, the true source of rights is duty. Today we recall his lessons in compassion too - compassion not only for our human neighbours but also for our other neighbours, namely, flora and fauna, rivers and mountains.'
People can deposit idle gold with authorised agencies and take advantage of the price escalation of gold as well as earn interest on the deposit.
He later hands it over to authorities, who now wait for the Archaeological Survey of India ASI to take custody. Rachna Parmar reports.
Gold import this financial year is estimated at 945 tonnes.
