Veterans recall they haven't seen gold falling for 3 years in a row.
Gold is seen as a preferred asset for all types of investors, even central banks.
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.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
The central bank said the restrictions would also apply to imports of gold which do not have a fixed price.
'We are committed to achieving the targets we had outlined.'
Banks can also allow the depositors to deposit their gold directly with the refiners.
In the absence of adequate foreign capital flows, it also raises questions about India's foreign exchange reserves buffer and its external vulnerability.
There are 350,000 jewellers, of which 13,000 are BIS-certified.
It makes sense to wait for govt schemes such as gold bonds.
Banks argued that the competition to import gold on behalf of jewellers is increasing.
Spot gold dropped at $ 1,081.85 an ounce in early European trade and silver dipped $ 14.64 an ounce.
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.
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.
Let's take a look at 14 biggest gold companies in the world.
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.
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.
The trials to short-list the wrestlers for the Asian Games will likely take place around July 20.
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?
Something is cooking in online food delivery. After 15 years of grappling with the demands of the business - read cash burn - Gurugram-based Zomato reported its first profit in the first quarter of 2023-24 (FY24). Not satiated, it reported a profit in the following quarter as well: Of Rs 36 crore in the second quarter compared to Rs 2 crore in the first. A year ago, in the second quarter of FY23, it had reported a loss of Rs 251 crore.
Gold prices gained marginally, in an otherwise listless and cautious trading on the bullion market in Mumbai on Saturday owing to stray buying support.
RBI has permitted Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank to import gold.
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.
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
The gold market has remained under pressure.
The unusual gift for a visiting foreign dignitary was presented to Mohammad during his first official visit to Islamabad.
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 recently approved government scheme provides both liquidity and returns.
BSE proposes two models for making gold trading and investment transparent
Dealers expect prices to fall further, owing to an impending rate hike in the US
Spot silver rose 0.3 per cent to $15.35 an ounce.
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.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
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.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
India imported 967 tonnes of gold in 2014-15.
