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India issues draft outline to sovereign gold bond scheme

The Indian government has issued a draft outline to the proposed gold -linked bond scheme. The draft outline emphasizes government’s efforts to reduce the country’s bullion imports, thereby keeping the trade deficit under check. The proposed sovereign bond linked to international bullion ...

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DRI reports huge spurt in gold smuggling during FY 15

The most recent data released by India’s Directorate of Revenue Intelligence (DRI) indicates that gold smuggling volumes skyrocketed in the country during 2014-2015. The DRI statistics indicate that gold smuggling incidents have risen sharply over the past two years. A total of ...

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Turkish gold imports slide further in May

The gold imports by Turkey during the month of May this year dropped sharply over the previous month. According to data published by the Borsa Istanbul (Istanbul Gold Exchange), the country’s gold imports totaled 1.65 metric tons, 21% lower than the total ...

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India’s gold imports to explode in March

The latest gold trade suggests that the country may witness record imports of gold during the month of March this year. As per preliminary data, the imports during the month have already crossed 130 tonnes during the initial three weeks of March ...

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Alarming rise in seizure of smuggled gold in India

The latest data released by the country’s Trade Ministry indicates that seizure of smuggled gold into the country has risen alarmingly during the initial ten months of the current fiscal year 2014/15. The total number of seizures touched 3,412 during the ten-month ...

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RBI bans outright sale of imported gold to jewellers

The Reserve Bank of India (RBI) has instructed importing banks to refrain from selling gold imported on consignment basis to jewellers. The clarification on sale of gold was issued by the RBI late evening yesterday. The RBI decision is likely to limit ...

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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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Swiss gold exports to India goes on unabated

Enormous quantities of Swiss gold have headed to India during the past few months. The Swiss gold exports to India have surged significantly during the month of November 2014. In accordance with the latest statistics released by Switzerland’s Customs Administration, the yearly ...

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Indian airports see huge drop in legal gold imports

The Customs and Central Excise Department had recently made it mandatory for any passenger bringing gold into the country, to declare his/her source of income. With legal gold imports dropping sharply during recent months, the authorities doubt whether this measure has backfired. ...

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India gold demand peaks with advent of festive season

The demand for gold has peaked with the advent of festive season. The upward trend in demand is likely to gain further momentum as the country gets ready for the big festivals-Dhanteras and Diwali, both considered as auspicious times for buying gold. ...

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