India's foreign exchange reserve went up by $3.59 billion to $254.05 billion during the week ended December 19, 2008 mainly on account of revaluation in foreign currency. The foreign currency assets rose by $3.58 billion to $ 245.30 billion, according to the latest data released by the Reserve Bank of India on Friday.
The central bank said the restrictions would also apply to imports of gold which do not have a fixed price.
Banks can also allow the depositors to deposit their gold directly with the refiners.
His dream of being inside the global top-100 has been realised but Sumit Nagal is nowhere close to being a content man as the Indian tennis ace says he now faces the challenge of improving or holding on to his standing for direct entry into Grand Slams and the Paris Olympics.
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
It makes sense to wait for govt schemes such as gold bonds.
Spot gold dropped at $ 1,081.85 an ounce in early European trade and silver dipped $ 14.64 an ounce.
In the absence of adequate foreign capital flows, it also raises questions about India's foreign exchange reserves buffer and its external vulnerability.
Not only is gold a hedge against currency depreciation, rising crude prices and uncertainty, it is up 7 per cent (in dollar terms) in the past 12 months, says Devangshu Datta.
On gold buying occasions such as Akshaya Tritiya, Chiraj Mehta points out, investors are often confronted with the question: Should I make just a token purchase, or should I buy more towards building my allocation in the yellow metal?
Banks argued that the competition to import gold on behalf of jewellers is increasing.
Let's take a look at 14 biggest gold companies in the world.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Driven largely by revaluation of international currencies, foreign exchange reserves fell by $806 million during the week ended February 4, 2005 taking the total reserves to $128.91 billion.
India's foreign exchange reserves surged $5.04 billion in the week ending March 28, its biggest weekly rise in four months, as the central bank started to buy dollars regularly in an effort to build up its defences against any potential global turmoil.
Gold prices gained marginally, in an otherwise listless and cautious trading on the bullion market in Mumbai on Saturday owing to stray buying support.
The unusual gift for a visiting foreign dignitary was presented to Mohammad during his first official visit to Islamabad.
RBI has permitted Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank to import gold.
While gold added Rs 310 to hit the record level, silver rose by Rs 800 to Rs 62,000 per kilogram.
Report by March 31; banks' gold coin sales, wealth management biz also under scanner.
Any liquid money that gold replaces for CRR or SLR compliance will allow banks to use this 'extra' cash for lending to borrowers
BSE proposes two models for making gold trading and investment transparent
After witnessing a decline in the past two weeks, India's foreign exchange reserves rose by $587 million to reach $1,19,932 million mark, for the week ended 18.
The government on Wednesday increased the import tariff value on gold and silver to $408 per 10 gram and $520 per kg, respectively in line with global prices.
The gold market has remained under pressure.
The recently approved government scheme provides both liquidity and returns.
Spot silver rose 0.3 per cent to $15.35 an ounce.
Dealers expect prices to fall further, owing to an impending rate hike in the US
Showtime is watchable but never engrossing, notes Sukanya Verma.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
Seeking to restrict gold imports, the Reserve Bank on Friday said nominated banks and agencies will not be allowed to import the precious metal in excess of their entitlements in first or second lot under the 80:20 scheme.
The government on Tuesday slashed the import tariff value on gold and silver to $59 per 10 grams and $ 470 per kg respectively, following weak global cues.
The country's gold jewellery exports climbed in August from the previous month on improving US demand.
Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
India imported 967 tonnes of gold in 2014-15.
'If rate cuts happen, bond yields will come down and investors will make mark-to-market capital gains on them.'
The price of gold in India seems to have bottomed out.
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