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Black gold: India tax hike could boost illegal bullion, jewellery sales

Black gold: India tax hike could boost illegal bullion, jewellery sales

As part of a new nationwide sales tax regime that kicked in on July 1, the Goods and Services Tax (GST) on gold has jumped to 3 percent from 1.2 percent previously, with traders and buyers saying the move will likely force more transactions into the black market.

 

India's gold demand may touch up to 950 tonnes level by 2020: WGC

India's gold demand may touch up to 950 tonnes level by 2020: WGC

Economic growth and greater transparency within the country's gold market will boost demand for the yellow metal up to 950 tonnes level by 2020, World Gold Council (WGC) said in a report Wednesday.

Gold glittered in 2016 on keen investment demand: WGC

Gold glittered in 2016 on keen investment demand: WGC

Total demand for gold -- whose twin drivers are jewellery and investment buying -- advanced 2 percent to 4,309 tonnes compared with 2015, London-based industry body WGC said in a report.

 

India's gold demand fell sharply by 21% to 676 ton in 2016

India's gold demand fell sharply by 21% to 676 ton in 2016

The gold demand for 2015 stood at 857.2 tonne, the WGC data revealed.

Demonetisation to benefit jewellery sector in long run: Industry

Demonetisation to benefit jewellery sector in long run: Industry

 The jewellery industry, which suffered and saw about 80 percent drop in demand following the demonetisation, is slowly recovering, although it may take over a year for things to become normal, market experts said.

India gold consumption drops 28% to 195 tonnes in Q3: World Gold Council

India gold consumption drops 28% to 195 tonnes in Q3: World Gold Council

India's gold demand declined by 28 percent to 194.8 tonnes in the third quarter this year mainly due to higher prices, not so recovered rural wallet and regulatory changes, World Gold Council's said in its latest report.

Global gold demand up 15% in Q2 2016: WGC

Global gold demand up 15% in Q2 2016: WGC

Global gold demand grew by 15 percent to 1,050 tonnes in the second quarter of 2016, mainly driven by considerable investment demand, World Gold Council (WGC) said in its latest report.

India's gold demand dropped 39% in Q1 2016: World Gold Council

India's gold demand dropped 39% in Q1 2016: World Gold Council

The demand for gold in India for the January-March quarter of 2016 was at 116.5 tonnes, down by 39 percent as compared to the corresponding period of the previous year, the World Gold Council said on Thursday.

 

Soaring prices may hit gold sales on Akshaya Tritiya

Soaring prices may hit gold sales on Akshaya Tritiya

Akshaya Tritiya, considered an auspicious day to buy gold, is likely to be lacklustre this time as jewellers are expecting negative to marginal growth compared to last year, on the back of rising gold prices, which is ruling at over Rs 30,000 per 10 grams.

India gold demand remains flat at 849 tonnes in 2015: WGC

India gold demand remains flat at 849 tonnes in 2015: WGC

 India remained cautious on gold buying in 2015 as demand remained nearly flat at 848.9 tonnes compared to the previous year, according to the World Gold Council's Gold Demand Trends report.

Gold imports likely to touch 1,000 tonnes this year, up 11%

Gold imports likely to touch 1,000 tonnes this year, up 11%

Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 percent in imports of the metal to 1,000 tonnes this year.

 

India's Q3 gold demand jumps 13% to 268 tonnes: WGC

India's Q3 gold demand jumps 13% to 268 tonnes: WGC

Gold demand in India during the July-September period increased by 13 percent to 268.1 tonnes mainly due to softening of the prices at the beginning of the quarter, World Gold Council has said.

Gold schemes will expand consumer choices, help economy: WGC

Gold schemes will expand consumer choices, help economy: WGC

Lauding the launch of three gold schemes by Prime Minister Narendra Modi, World Gold Council (WGC) on Thursday said the initiative will expand consumer choices and help the economy.

India's gold demand could hit 950 tonnes as prices fall: Valcambi

India`s gold demand might reach 950 tonnes this year as lower prices spur buying during the peak festival season and for weddings, the world`s biggest gold refiner, Valcambi, said.

India's Q2 gold demand falls 25% to 154.5 tonnes: WGC

India's gold demand during April-June declined 25 percent to 154.5 tonnes due to unseasonal rains in the first quarter that damaged crops and the shrinking of wedding dates, according to the World Gold Council (WGC).

Even hallmarked gold jewellery varies in purity

The improvements to the hallmarking system in India are not only essential to a successful gold monetisation scheme but also help to boost the country's gold jewellery exports from the existing $8 billion to $40 billion in the next five years, it said.

Gold jewellery export may rise to $40 billion if quality improved

Gold jewellery exports could jump five-fold to USD 40 billion in the next five years if quality standards are improved, the World Gold Council said Thursday.

Falling gold prices boost demand in India: WGC

A fall in gold prices has boosted demand in India, the world's second largest consumer, despite the summer months being a traditional quiet period, World Gold Council (WGC) said Thursday.

India's Q1 gold demand up 15%: WGC

The demand for gold in India for the first quarter (January-March) of 2015 was at 191.7 tonnes, up by 15 percent as compared to the corresponding period of 2014, World Gold Council (WGC) said in a report on Thursday.

Akshaya Tritiya: Traders expect 25-30% rise in gold sales

Sales of gold jewellery on Akshay Tritiya day Tuesday are expected to jump by 25-30 percent compared last year on this festival day, traders body CAIT said Monday.