2013 April 29

Import tariff value of gold hiked to $472/10 grams

The Government has raised the tariff value of gold to $472 per 10 grams on account of a volatile price trend in global markets. Tariff value is the base price on which the Customs duty is determined to prevent under—invoicing. It was only 10 days back that tariff value of

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Gold traders most bullish in April as buying surges

Gold traders are the most bullish in a month after mints around the world said demand for bullion coins is surging and central banks added to reserves even as prices slumped the most in three decades. Fifteen analysts surveyed by Bloomberg expect prices to rise next week, 11 were bearish

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All the big banks forecast a higher gold price this year

The spot gold price was holding onto its strong gains last week to hover around the $1,465 an ounce level in European trading on Monday. Gold suffered a $200-plus decline that began on Friday 13 April and accellerated into Monday when the metal dropped to multi-year lows of $1,326 an

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RBI to probe banks' practices in gold product sales

The Reserve Bank of India is looking into sale of gold coins and gold-related investment products by about 30 banks to find out whether their employees are mis-selling such products to customers. The RBI move follows complaints of customers being induced by bank employees and non-staff members within bank premises

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