Others taxed at 5, 12, 18, 28%
Silver, platinum and palladium all declined.
The senior Congress leader was in New Delhi to campaign in Maharashtra Assembly polls.
Gold is often favoured as a hedge against economic and financial uncertainty
The government's ambitious gold deposit scheme can succeed only if depositors are paid a higher interest rate.
Gold demand will go up in the second half of this year.
Indian gold demand seen falling to 8-year low in festive quarter.
India needs to sustain a GDP growth rate of 8 per cent to become a five trillion dollar economy by 2025, the Economic Survey has stated.
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
Gold bullion purchases across Asia slowed this week as a long rally in prices discouraged buyers.
India's jewellery consumption in Sept quarter increases 5% to 193 tonnes.
Traders have used this as an opportunity to stock up silver.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
The sector employs around 1 million skilled and unskilled workers directly and indirectly and decline in exports is a major worry for participants in the value chain.
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards.
BSE proposes two models for making gold trading and investment transparent
For easy and wide access, the government plans to market the bond through post offices and various brokers.
Prime Minister Narendra Modi launched a scheme to tap a pool of over 20,000 tonnes of gold held by households and temples.
The commerce ministry has called a meeting on Monday to discuss tighter norms amid reports of increased round-tripping of gold
India's planned transition to electric vehicles will drastically affect the commodities market, says Aditya Gandhi
Derivatives exchange DGCX started trading futures for the S&P BSE Sensex
Finance Minister P Chidambaram on said that financing current account deficit (CAD) year after year is a challenge and the only way to deal with the problem is by increasing exports.
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.
'Irrespective of the price movement of gold, customers can lock in their purchase at Rs 28,000 per 10 grams of pure gold.'
Any revision in gold import duty is unlikely to take place before the Budget, says finance ministry official.
The richest Hindu temple in the world could soon come to the rescue of Prime Minister Narendra Modi's plan to recycle tonnes of idle gold and cut economy-hurting imports.
Some pointers which will help an individual start her investment journey with confidence.
A CBTR pertains to transfer of funds through various channels abroad.
Gold loans can be released online or by bank transfers.
Markets ended in red; index heavyweight under pressure.
Gold import this financial year is estimated at 945 tonnes.
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The Reserve Bank of India in July introduced 80:20 scheme under which 20 per cent of the total gold imports was to be exported back.
The jewellery industry has welcomed the government's decision to ban old Rs 500 and Rs 1,000 notes, saying gold demand will rise as people will have more faith in the precious metal than the currency notes. But the unorganised builders and secondary (resale) property market would be adversely impacted.
Gold prices are already moving fast to the key level of Rs 30,000 per 10 gms
'If unchecked, by 2017, the global volume of discarded e-waste will weigh almost equivalent to 200 Empire State buildings.'
Veterans recall they haven't seen gold falling for 3 years in a row.
Markets end in red; bluechips struggle to keep pace.
Metallic mania, sexy sheer, volume sleeves and more...
Metal sector is not too happy from Budget announcements for the sector
The LIGO announcement -- which confirmed, among other things, that gold, platinum and other heavy metals were products of neutron star collisions -- came just before Subrahmanyan Chandrasekhar's 107th birthday.
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