Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
Over three kg of gold, worth Rs 91 lakh, was seized on Sunday in two separate cases at Chennai and Kochi airports.
Gold imports, which peaked at 162 tonnes in May, came down to 19.3 tonnes in November.
However, some experts, including RBI Governor Raghuram Rajan, have favoured doing away with curbs on gold imports because they lead to smuggling.
Despite the recent imposition of import rule and high duties, the yellow metal continues to attract buyers.
Govt clamps have resulted in 93% decline in April-November
The government on Friday reduced the import tariff value on gold and silver to $420 per 10 grams and $645 per kg, respectively, taking cues from firm global prices.
Gold prices are likely to rise by up to Rs 700 per 10 gram in the short term with tapered demand following the government decision to hike import duty on the precious metal, according to jewellers and analysts.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
The government has retained 10% duty on import of the yellow metal.
The LDF was also leading in 10 out of the 14 district panchayats and 108 block panchayats of the total of 152, according to the State Election Commission figures.
In the wake of the Chinese war, it was felt in some circles that it would be feasible to make a frontal attack on demand for gold in India. Accordingly, the Gold Control Order 1962 was issued, banning the making and selling of jewellery above 14 carats, making it compulsory for gold smiths to be licensed and submit accounts of all gold received and utilized by them etc., The measures met with lot of resistance and criticism.
Gold jewellery exports may decline by about 50 per cent in this financial year from last year after government restrictions reduced the availability of raw material, Gitanjali Gems Chairman and Managing Director Mehul Choksi said.
Providing relief to the economy from widening trade deficit on account of gold imports, the inward shipments of the metal slumped in December to 39 tonnes, Commerce Secretary Rajeev Kher said on Wednesday.
Widening of the tax base, doing away with cess and surcharge, improvement in compliance and moderation in tax for emerging sectors are some of the suggestions submitted to the Finance Ministry ahead of the Budget by Think Change Forum (TCF). Experts are of the opinion that there is a need to grow tax revenues for the government to drive economic growth and make investments in developmental activities, TCF, the think tank said in a statement. Towards this end, poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation, among others.
Congress MLA Sukhpal Singh Khaira was arrested by the Punjab Police in connection with a 2015 drugs case on Thursday morning, official sources said.
India is the largest importer of gold after China.
Theft of gold from five packets had been reported to the police on January 16, 20, April 30.
Prime Minister's Economic Advisory Council Chairman C Rangarajan dashes bullion firms' duty cut hopes.
Moving the resolution, Chief Minister Pinarayi Vijayan said the Centre should re-examine its decision and the operation and management of the airportbe handed over to the Special Purpose Vehicle in which the state government has stake.
Staley watched Griner grow from a first-overall WNBA draft pick in 2013 to one of the dominant forces in the league and an American superstar who collected two World Cup golds on top of her Olympic titles.
Any revision in gold import duty is unlikely to take place before the Budget, says finance ministry official.
The humiliating rebuff given to the power brokers in Delhi in Kerala's local body election carries a big message: Malayalis thoroughly disapprove of the Modi government's shenanigans to misuse central agencies to destabilise a genuinely popular state government, notes M K Bhadrakumar.
Marriage season will end in the next two months and import growth is likely to taper off
Finance Minister must be hoping that Indians get over gold-addiction.
'The entire idea behind the serial bomb blasts was to strike fear in the minds of Indians.' 'I don't think the blasts were targeted to derail the Indian economy; the idea behind the blasts was retribution.'
The scheme is yet to take off.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
'India has about 22,000 tonnes of private gold, held by individuals and temples.' 'Much of this is locked up in safes and vaults as a dead investment. If we can put the vast reserves of gold to use, it would boost the economy,' says V P Nandakumar, executive chairman, Manappuram Finance, India's first listed gold loan company.
Dealers with turnover of Rs 2 crore and above covered; industry says threshold too low
At 12-15 tonnes, the imports in September are estimated to be much lower than in the same month last year.
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The World Gold Council, which represents the mining industry, puts India's demand between 850 and 950 tonnes in 2014.
'During Amit Shah's recent visit to Kerala, the strategy of concentrating the attacks on the CM on false charges was clear enough.'
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'Tamil Nadu is a state of temples, it's a holy land. People don't seem to realise that.'
The best way to curb gold demand is by reducing black money in circulation.
While the CPI-M in a statement after the secretariat on Friday maintained that Balakrishnan, who is also a Polit Bureau member, had sought leave for further treatment which had been accepted, the leader of opposition in the state assembly Ramesh Chennithala dubbed the move as a delayed dawning of wisdom.
The commerce ministry has called a meeting on Monday to discuss tighter norms amid reports of increased round-tripping of gold
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