Automaker Toyota Kirloskar Motor (TKM) on Tuesday said it will increase prices of its entire model range by up to 2 per cent with effect from October 1 in order to partially offset the impact of rise in input costs. The company, which is a joint venture between Japan's Toyota Motor Company and Kirloskar Group, sells a range of vehicles including Innova Crysta and Fortuner in the domestic market. The company will realign the prices of its models, with effect from October 1, 2021, TKM said in a statement.
Following are the highlights of the Annual Supplement 2006 to the Foreign Trade Policy unveiled by Commerce and Industry Minister Kamal Nath on Friday
Marketmen said the precious metal sparkled as an secondary investment option in global as well as in domestic markets amid a plunge in stock markets following deepening of credit crisis in the US. Standard gold and ornaments which started on a promising note with a Rs 1,000 each higher at Rs 12,915 and Rs 12,765 per 10 gram, continued to rise and settled Rs 1,205 each higher at Rs 13,120 and Rs 12,970 per 10 gram respectively.
In Delhi bullion market, gold fell by Rs 295 to trade at Rs 11,350 per 10 gram in evening trading, a level last seen on January 21, this year.
The gold prices on Tuesday dipped as low as Rs 11,000 per 10 gram, down nearly one-fifth from this year's high of Rs 13,650 scaled nearly a month-ago on July 15. The price has come close to its level seen during the Diwali season last year, when it stood at near Rs 10,500 per 10 gram. This year, Diwali falls on October 28.
Consumers have to watch out for four marks on hallmarked gold jewellery: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.
Here is all you need to know about hallmarking of gold.
Bullion in the Asian region gained as much as 0.5 per cent to $1,222.47 an ounce, its highest level since May 19, as the euro extended its 2.4 per cent decline against the dollar last week.
Prices of the precious metal zoomed by Rs 260 to Rs 18,660 and ornaments by a similar margin to Rs 18,510 per ten grams.
The pure gold is alloyed with silver, copper and various to make it suitably hard for jewelery making. The percentage of pure gold is denoted by its carat (k) weight. Pure gold is 24k (ie.100per cent gold), the other common alloy carat weights are 22k, 18k, 14k, 10k and 9k. 9k gold is the hardest alloy. In addition to yellow gold, white gold and rose gold are also popular options. You can also find many two-tone styles, if you prefer a mix of colours.
Gold is usually seen as a safe-haven when stocks are falling or when inflation is rising. With prices of the yellow metal hovering near record highs, people are also putting off their jewellery purchases. Along with a subdued marriage season, the orders with price open and settled on delivery day, too, are getting cancelled. Apart from high, volatile prices, there is no gold rush yet for the safe-haven asset, crimping demand.
2008 is the year of the rat. The Chinese Zodiac says the year of the rat will be volatile for commodities and equities. However 2008 is the year of the Earth Rat, which is prosperous for the earth and metal industries.
"The government is taking and will continue to take all possible measures aimed at making India the gold hub of the world," Company Affairs Minister P C Gupta told a global gold summit organised by Assocham.
Gold prices zoomed to set a new peak at Rs 9,950 per ten gram on the bullion market on Wednesday on hectic buying by stockists and jewellers, triggered by surging prices in the overseas markets.
India's total gold imports in the current year can be estimated at 810 tonnes against 740 tonnes excluding replenishment of 50-60 tonnes.
Both gold and silver made a smart comeback and recovered by Rs 55 per 10 gram and Rs 100 per kilo, respectively, on the Bullion market in Mumbai on Wednesday on revival of heavy stockists' buying boosted by rise in the global prices.
The precious metal spurted by Rs 200 from Friday's level at scale a new peak of Rs 15,900 per 10 gram.
In the imports bracket, India was the United States' 11th largest supplier of goods in 2017
Correcting a serious anomaly in the value added tax structure, an official committee on Monday prevailed upon Delhi, Rajasthan, Uttar Pradesh and Gujarat to maintain uniform tax rates on bullion.
Gold prices crashed by another Rs 130 at Rs 7,335 per 10 gram on the bullion market today on sustained selling by stockists and speculators largely fueled by a weakening trend in Asian markets. \n
Gold prices are expected to slump by 5 per cent before the end of this month to $855 per ounce as leaders of G-20 nations agreed on Thursday that the International Monetary Fund should sell gold from its reserve to help stimulate the world economy.
India is at a greater risk than the other three BRIC (Brazil, Russia and China) economies in the event of a slowdown in the US economy, a study by global investment banking firm Goldman Sachs has said.
Gold prices crashed by Rs 115 per ten gram and silver plunged by Rs 375 per kilo in the bullion market in Mumbai on Tuesday due to heavy stockists' selling after steep fall in the international prices.
Gold prices surged Rs 175 to a record high of Rs 8,150 per ten gram on the bullion market on Monday on sustained buying by stockists induced by a unprecedented rise in its prices in overseas markets.
Subdued volumes notwithstanding, the bullion market displayed a firm trend as both the precious metals, silver and gold, zoomed to new heights on stockists and speculators buying.
British police ambushed the gang which raided a warehouse containing bullion and bank notes.
Gold prices spurted on the bullion market on Wednesday on sustained buying by stockists influenced by a firming trend in international markets and set a new high at Rs 7,750 per ten gram.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
Gold prices on Thursday scaled to Rs 6,800 per ten gram, a level never seen before in the history of bullion market in New Delhi, as stockists indulged in brisk buying triggered by a firm international trend.
Delhi and Maharashtra may lower value added tax on bullion to 0.25 per cent as consensus on introducing uniform floor rate for precious metals seemed difficult to emerge at the empowered committee's meeting on Wednesday
Both the precious metals, gold and silver, ounce again broke all previous records and ended at all-time high of Rs 6,270 per 10 gram and Rs 9,605 per kilo, respectively on the bullion market in Mumbai on Monday.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
Traders in India, the world's largest gold consumer, were stocking up on the precious metal on Monday amid fears that a US-led war with Iraq was imminent and could push bullion prices higher, dealers said.\n\n\n\n
Indian buyers were on a gold buying spree during the July-September 2004 period despite the rising prices of the precious metal, said a World Gold Council report on Tuesday.
India, the world's largest gold consumer, is likely to resume import of the precious metal this week after a long lull, as global prices have fallen sharply amid signs the United States is unlikely to attack Iraq immediately.
Increase in gold imports pushed the country's trade deficit to a five-month high of $ 15.33 billion in April.
