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Banks' aversion to higher interest may hurt India plan to draw out gold stocks

Banks' aversion to higher interest may hurt India plan to draw out gold stocks

Indian lenders do not want to raise interest on gold deposits much beyond 1 percent, bankers said, which could derail a government plan to cut massive imports by mobilising tonnes of gold now stored in households and temples.

'Put gold to work for economy'

The WGC Saturday unveiled its vision for year 2020 for the Indian gold industry at the India International Bullion Summit.

NSEL commences remittance of payout to unit-holders of E-Gold

As a part of the financial closure of gold e-series contracts, National Spot Exchange Ltd (NSEL) on friday started making direct payments to over 21,000 unit-holders at the average rate of Rs 2,935.9925 per gram.

Gold financing stocks in demand; soar up to 20%

Shares of gold financing firms Muthoot Finance and Manappuram Finance Thursday surged up to 20 percent after the Reserve Bank allowed NBFCs to lend up to 75 percent of the value of metal from 60 percent at present.

Gold price suffers worst weekly loss in two months on Fed uncertainty

Gold notched a 3.7 percent weekly drop, while silver also posted its biggest losses since mid-September, down 4.5 percent.

Stocks of gold loan companies, jewellery makers tumble

Shares of gold loan companies like Manappuram Finance and jewellery makers Monday fell sharply by up to over 13 percent, following weakness in gold prices which hit over 15-month low.

Gold zooms 15%, stock wealth grows at snail's pace in 2012

Gold has appreciated from Rs 27,400 level in early September of 2011 to a record of over Rs 32,000 level at present.