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Massive gold haul reported at newly commissioned Indian Airport

The Directorate of Revenue Intelligence (DRI) officials from Chennai International Airport seized huge quantities of smuggled gold from passengers at the recently commissioned Visakhapatnam (Vizag) International Airport in southern India. A total of 62 kilograms of gold worth Rs 17 ...

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India to announce gold monetization scheme soon

The Indian Finance Ministry officials stated that the ministry is currently delivering finishing touches to the proposed gold monetization scheme. Comments made by general public and industry participants are under consideration.   The final scheme, the draft of which was announced last ...

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India gold bar imports declined 22% in Apr 2015

The Gems and Jewellery Export Promotion Council (GJEPC) has released the details of imports of raw materials for gems and jewellery for the month of April this year. According to data, the gold bar imports by the country during the month witnessed ...

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Gold prices to hit five-year lows in 2015; Demand recovery in Asia to lead rally in 2016

The latest research report published Thursday by GFMS Thomson Reuters says that gold is likely to touch five-year lows during this year, before the expected recovery in 2016. The yellow metal may extend two years of decline to touch new lows in ...

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India gold imports likely to drop sharply after implementation of gold scheme

The All India Gems and Jewellery Trade Federation (GJF) has highlighted on the necessity for tie-ups with banks and jewelers towards successful implementation of the government’s proposed gold schemes. According to the trade body, the gold bonds and monetization schemes must include ...

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DRI says: Legal gold imports and smuggling on the rise

The official data published by the Directorate of Revenue Intelligence (DRI) indicates that legal imports of gold into the country have increased considerably despite high import duty on gold imports. At the same time, there has been no end to entry of ...

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Indian Airport Customs seize Rs 160 million worth smuggled gold biscuits

The Indian Customs officials at the Ahmedabad International Airport foiled a major gold smuggling attempt. Six persons including a woman were arrested while trying to smuggle 60 kilograms of gold from Dubai. The seized gold is worth nearly Rs 160 million, customs ...

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India gold demand to improve during April festive season

The physical gold demand in India is likely to stay muted until the commencement of festive season late April. The festival buying is likely to peak during Akshaya Tritiya which falls on April 21st this year. The physical gold buying in India ...

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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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Gold savings scheme could erode India’s gold demand

The success of gold savings plans proposed in the Union Budget is likely to erode the physical demand for gold in the country. Incidentally, the country’s gold market regained stability after remaining volatile post announcement of new schemes on February 28th. The ...

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