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Demonetisation: Jewellers claim 85-90% dip in domestic business, exports unaffected

Demonetisation: Jewellers claim 85-90% dip in domestic business, exports unaffected

Many jewellers estimate an 85-90 percent dip in business post-demonetisation -- but exports have been unaffected.

Commerce Ministry favours 'restriction free' gold imports to discourage smuggling

Commerce Ministry favours 'restriction free' gold imports to discourage smuggling

Commerce and Industry Minister Nirmala Sitharaman has pitched for 'restriction free' imports of gold to help gems and jewellery exports and also discourage smuggling.

Gold premiums rise to 2-year high on fears of import curb

Gold premiums rise to 2-year high on fears of import curb

Gold premiums in India jumped to two-year highs this week as jewellers ramped up purchases on fears that the government might put curbs on imports after withdrawing higher-denomination notes from circulation in its fight against black money.

India's current account deficit to stay at $10.1 billion in FY17: Citigroup

India's current account deficit to stay at $10.1 billion in FY17: Citigroup

India's current account deficit is expected to stay comfortable at USD 10.1 billion in this financial year, largely on account of likely demand moderation post the demonetisation move, says a Citigroup report.

Gold import dips 55% to $7.88 billion in H1 of 2016-17

Gold import dips 55% to $7.88 billion in H1 of 2016-17

Gold imports dipped by about 55 percent to USD 7.88 billion during the first half of 2016-17, which is expected to keep a lid on the current account deficit.

Sixth tranche of Sovereign Gold Bonds scheme to launch on October 24

Sixth tranche of Sovereign Gold Bonds scheme to launch on October 24

The government will launch the sixth tranche of Sovereign Gold Bonds (SGB) scheme on October 24, in which people can buy securities worth up to 500 grams.

Gold imports fall to $1.8 billion in September

Gold imports fall to $1.8 billion in September

Gold imports fell 10.3 percent to USD 1.80 billion in September due to sliding prices of the metal in both global and domestic markets.

Forex reserves move up by $1.166 billion to $370.766 billion

India's foreign exchange reserves increased by USD 1.166 billion to reach USD 370.766 billion for the week to September 23 on account of rise in foreign currency assets, as per RBI data.

Gold imports dip 77% to $1.11 billion in August

Gold imports dip 77% to $1.11 billion in August

Gold imports fell by 77.45 percent to USD 1.11 billion in August due to sliding prices of the metal in both global and domestic markets.

India's exports fall for 2nd straight month, trade deficit down 38% at $7.67 billion

India's exports fall for 2nd straight month, trade deficit down 38% at $7.67 billion

India's exports declined for the second consecutive month in August by 0.3 percent to USD 21.51 billion due to dip in shipments of products like petroleum and leather.

Expect current a/c surplus of $4 billion in June quarter: Nomura

Expect current a/c surplus of $4 billion in June quarter: Nomura

Japanese brokerage Nomura on Friday said the country is likely to post first quarterly current account surplus in nine years in the June quarter at USD 4 billion or 0.8 percent of the GDP.

Gems, jewellery exports up about 12% in Apr-Jul FY17

Gems, jewellery exports up about 12% in Apr-Jul FY17

Exports of gems and jewellery grew 11.7 percent to USD 11.4 billion during the first four months of the current fiscal, driven largely by demand in India's major markets like the US.

 

Gold smuggling: Government loses over $1 billion in revenue

Gold smuggling: Government loses over $1 billion in revenue

Indian gold refiners just months ago were ramping up capacity and struggling to secure enough ore from miners. Now, they are suspending operations as a surge in smuggled bullion wipes out wafer thin margins.

Exports slip 6.8% in July; gold imports more than halve

Exports slip 6.8% in July; gold imports more than halve

After rising for the first time in 18 months in June, exports shrank again in July, contracting 6.84 percent due to decline in shipments of engineering goods and petroleum products.

Gold bond scheme: Government realises record Rs 919 crore in 4th tranche

Gold bond scheme: Government realises record Rs 919 crore in 4th tranche

Government has realised Rs 919 crore through the fourth tranche of its Sovereign Gold Bond scheme -- the highest so far.

Gold imports drop over 38% in June to $1.2 billion

Gold imports drop over 38% in June to $1.2 billion

Gold imports plunged by 38.54 percent to USD 1.2 billion in June while inbound shipments of silver fell by more than a quarter in the month.

Gold Monetisation Scheme mobilises 2.8 tonnes so far

Gold Monetisation Scheme mobilises 2.8 tonnes so far

The government has so far collected 2.8 tonnes of gold under the Gold Monetisation Scheme (GMS), which has been in force for a little over six months, Parliament was informed on Tuesday.

Temples, trusts deposit 1,512 kg gold under GMS: Sinha

Temples, trusts deposit 1,512 kg gold under GMS: Sinha

Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.

CAD to widen to $25 billion in FY17 on surge in gold imports, sluggish exports: Report

What may cause concerns for the Indian economy, country's current account deficit (CAD) is likley to widen to USD 25 billion this year from USD 20 billion in 2015-16 due to slowness in exports and sudden surge in gold imports, as per a report released on Friday.

India's gold imports drop 80.48% to $972.9 million in March

India's gold imports drop 80.48% to $972.9 million in March

India's gold imports in March slumped by 80.48 percent to USD 972.9 million as higher prices and jewellers' strike curbed demand.