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.
'It has always been viewed as a hedge against inflation.'
Delhi Police have arrested three individuals, including a caretaker, for allegedly perpetrating a cyber fraud involving the misuse of a complainant's credit card details to purchase gold coins worth over Rs 9.58 lakh.
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.
A special investigation team (SIT) has been formed to unravel the mystery surrounding the alleged theft of 240 British-era gold coins by four policemen in Madhya Pradesh's Alirajpur district, an official said on Wednesday.
The world's largest gold coin worth $3.9 million will be auctioned at Vienna's Dorotheum on 25 June 2010.
Jewellery majors Titan Company and Kalyan Jewellers reported robust Q4 FY26 results, with Titan's consolidated revenue surging 81 per cent year-on-year, largely propelled by a sixfold increase in bullion and digital gold sales. Despite strong top-line growth, Titan's gross and operating profit margins faced pressure due to the higher share of lower-margin gold products and increased marketing expenditure.
'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.'
India's largest commodity bourse--the Multi Commodity Exchange of India --may soon unveil futures contract in gold coins in an attempt to tap the small retail investors across India.
The gold coins will be sold in over 100 post offices in Delhi, Tamil Nadu, Maharashtra and Gujarat in the pilot phase, Minister for Communications and Information Technology A Raja said after launching the service. India Post launched the new service on Wednesday in association with the World Gold Council and the Anil Ambani Group's financial services firm Reliance Money.
According to Reliance Money officials, the company offers 5 gm and 8 gm coins now but plans are in the offing to launch 0.5 gm, 1 gm and 2 gm coins, said
India's top private banks might soon exit from the gold coin business.
The Mumbai Cricket Association will shower Sachin Tendulkar with a hundred gold coins to commemorate his fabulous feat of compiling 100 international centuries. The decision to felicitate the batting ace with 100 gold coins, worth around Rs 23-25 lakh, was taken by the MCA's managing committee, headed by Union Minister Vilasrao Deshmukh.
One of India's leading banks -- Syndicate Bank -- on Friday launched an innovative project to sell gold coins exclusively imported from Switzerland.
Tamil Nadu, Karnataka, Kerala and Maharashtra post offices followed Bihar.
Tirumala, the popular hill shrine in Andhra Pradesh, is embroiled in a gold coin scam following the alleged misappropriation of 300 gold coins, worth over Rs 15 lakh.
India's organised gold jewellery retail sector is projected to experience a 13-15 per cent year-on-year decline in sales volumes this fiscal, following an 8 per cent drop last year, due to elevated gold prices and a recent import duty hike, according to a Crisil report.
The coins can have the face and names of the owner embossed on them.
A limited edition Sachin Tendulkar gold coins, with the senior cricketer's face and signature embossed on them, were launched in Mumbai on Monday on the auspicious day of 'Akshaya Tritiya'.
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.
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.
R-Money, the Anil Ambani group's retail brokerage arm, will introduce gold coins in smaller denominations of half gram and one gram in the market. The market is currently dominated by 5-gm and 8-gm coins.
A few hundred gold coins of Maurya Gupta and Mughal eras and gold artefacts, which could be worth several hundred crores, were recovered from a hidden strongroom in the house of late Priyamvada Birla.
A number of companies, including Maruti Suzuki, Renault and Nissan, are giving gold coins to buyers who book cars by the month-end. There are other benefits as well, reports Ajay Modi.
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.
The company, which is bullish on its growth prospects, plans to double the gold coin sales from the current 1,000 kg by the end of the current financial year.
A significant structural shift is underway in India's gold market, with investment purchases projected to account for 35-40 per cent of total consumption by FY27, driven by geopolitical uncertainty, price momentum, and portfolio diversification.
Titan Company's ambitious roadmap to achieve a 20 per cent revenue compound annual growth rate (CAGR) by financial year 2030 (FY30) has garnered a positive outlook from analysts, who highlight the company's strong brand, sourcing capabilities, and diversified portfolio as key strengths.
Australia has unveiled the world's largest gold coin, weighing a massive 1,000 kg to mark the visit of Queen Elizabeth II.
US President Donald Trump's signature will soon appear on US paper currency, coinciding with the 250th anniversary celebrations of American Independence.
But retailers say this enthusiasm, which helped push prices back up again, is faltering with some investors looking for another fall before they buy more.
Legendary economist and former Federal Reserve chairman Alan Greenspan has died at the age of 100 due to complications related to Parkinson's disease, his wife Andrea Mitchell confirmed.
Delhi Police have arrested three individuals, including a jeweller, in connection with a theft in Bindapur, recovering melted silver, cash, gold and silver jewellery, and old coins.
Two women, suspected to be linked to an interstate gang that allegedly defrauded a Gurugram exporter of Rs 2.49 crore and 50 tolas of gold, have been arrested. The accused are associated with a Gujarat-based film producer, who is considered the 'kingpin' of the gang.
Earlier, the RBI had imposed similar restrictions on commercial banks and NBFCs.
Chidambaram said banks have been asked to strictly adhere to the norms on gold imports.
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Earlier, similar restrictions were imposed on commercial banks.
The Reserve Bank of India (RBI) is likely to clamp down on gold coin sales by banks, amid rising bullion imports adding pressure to the current account deficit and weakening the rupee.
The Indian government has imposed import restrictions on all forms of gold, silver, and platinum articles to prevent misuse of free trade agreements (FTAs). The restrictions apply immediately, regardless of prior contracts or commitments.
