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India April gold imports may cool off to $3.5 billion

According to trade sources, India’s total gold imports during the month of April this year is likely to total around 90 tonnes ($3.5 billion). This is much lower when compared with the imports of $4.98 billion during March this year. However, April ...

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Gold’s safe-haven status to take a hit; Prices to head lower: CPM Group

The Annual Gold Year Book released by the New York-based consultancy firm CPM Group has predicted further weakness in gold during 2015. The precious metal is likely to lose its safe-haven status on easing concerns about faltering global economies. Consequently, gold is ...

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GJF forecasts 10% jump in Indian gold demand

The All India Gem and Jewellery Trade Federation (GJF) sees 10% jump in gold demand in the country during the upcoming wedding season which is about to kick off. The demand in gold jewellery sector is expected to post robust growth of ...

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Indian Commerce Ministry calls for sharp gold duty cuts

The Ministry of Commerce in India has sought significant cut in duty ongold and silver imports. It has also asked for reduction of Minimum Alternate Tax (MAT) on jewelry manufacturing units in Special Economic Zones (SEZs) within the country. The demands were put ...

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Gold discounts in India hit 17-month high on hopes of duty cut

The gold importers in India are offering discounts of up to $16 per Oz over London prices. The discounts crept higher due to lower intake by jewelers who anticipate a possible cut in high gold import duty during the budget. The gold ...

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India must harness gold to boost employment, economy

According to London-based World Gold Council (WGC), Indian authorities should stop viewing gold as a burden. Instead, they must think how effectively gold can be harnessed to boost the country’s employment opportunities and economic growth. This view was expressed by Alistair Hewitt, ...

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Falling gold imports trim India’s trade gap to 10-month low

The gold imports by India declined sharply during the month of December last year. The drop in gold imports together with plunging crude oil prices have cut India’s trade deficit to multi-month lows during the month. As per data, gold imports during ...

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India to formulate ‘long term’ gold import strategy to benefit exporters

The Indian government today announced its plans to devise a long term strategy for importing gold into the country in order to ensure smooth supply of the yellow metal to jewelry exporters. The government is working out on the new strategy which ...

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India’s high gold import duty structure to stay until Budget

Putting an end to all speculations about gold import duty cut, senior Finance Ministry official has ruled out any chance of duty cuts in the near term. According to the official, there is no decision on the matter at the moment. The ...

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India’s Oct ’14 trade deficit shrinks despite 280% jump in gold imports

The country’s trade deficit for the month of October ’14 declined 6% over the previous month to $13.35 billion, when matched with the Sep ’14 deficit of $14.25 billion. The trade deficit for the month narrowed despite sharp 280% jump ...

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