Gold demand in India seen falling to lowest in 8 years in 2017

Gold demand in India seen falling to lowest in 8 years in 2017

A woman tries a gold earring at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Mumbai, October 28, 2016. REUTERS/Danish Siddiqui/Files   MUMBAI, November 9 (Reuters) – India’s gold consumption is likely to drop to its lowest in eight years in 2017, hit by government moves to […]

Swiss flushing away millions in gold and silver every year

Swiss flushing away millions in gold and silver every year

A worker checks gold granulate at a plant of gold refiner and bar manufacturer Valcambi SA in the southern Swiss town of Balerna December 20, 2012. REUTERS/Michael Buholzer/Files   ZURICH, October 12 (Reuters) – While London’s sewers can get clogged with fatbergs made up of grease and diapers, it seems Switzerland’s waste system is flecked […]

India rethinks jewellery sales oversight after slump in gold demand

India rethinks jewellery sales oversight after slump in gold demand

A woman tries on a gold bracelet at a jewellery showroom in the eastern Indian city of Siliguri November 4, 2009. REUTERS/Rupak De Chowdhuri/File Photo   MUMBAI, October 7 (Reuters) – Indian authorities withdrew on Friday an amendment that made jewellers subject to anti-money laundering legislation and caused a drop in gold sales.   The […]

Gold demand hit by high prices ahead of expected festival-led buying

Gold demand hit by high prices ahead of expected festival-led buying

A woman tries a gold earring at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, in Mumbai, October 28, 2016. REUTERS/Danish Siddiqui/Files   MUMBAI/BENGALURU, September 8 (Reuters) – Demand for physical gold in Asia could pick up in the coming weeks as India’s festival season drives interest in […]

GST rate of 3% on gold too low: Economic Survey

GST rate of 3% on gold too low: Economic Survey

  New Delhi, August 12 (IANS) The Goods and Services Tax (GST) rate of 3 per cent on gold was low and needs to be increased as it is consumed by the “very rich”, feels Chief Economic Advisor Arvind Subramanian, the author of the Economic Survey.   According to the Economic Survey Volume II 2016-17, […]

India gold premiums jump to 7-1/2-month high ahead of tax hike

India gold premiums jump to 7-1/2-month high ahead of tax hike

BENGALURU/MUMBAI (Reuters) – Gold premiums in India jumped to the highest level in 7-1/2 months this week as consumers advanced purchases to avoid paying higher tax when a new nationwide sales tax takes effect from July 1.   India, the world’s second-biggest gold consumer, has said it will impose a 3 percent goods and services […]

Gold adds gain on global cues, jewellers’ buying

Gold adds gain on global cues, jewellers’ buying

New Delhi, Jun 24 (PTI) Rising for the second straight session, gold prices went up further by Rs 35 to Rs 29,225 per 10 grams at the bullion market today in tandem with a firm trend overseas and sustained buying by local jewellers.   Silver also advanced by Rs 25 to Rs 39,075 per kg […]

Indian gold imports to drop back sharply after Q1 spike – WGC

Indian gold imports to drop back sharply after Q1 spike – WGC

LONDON, May 17 (Reuters) – Indian gold imports will drop back sharply after jumping in the first quarter, the World Gold Council said on Wednesday as the launch of a new tax regime and restrictions on refiners’ ability to import gold dore take their toll.   Full-year imports will be little changed from 2016’s 524 […]

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