2013 December

Sharp drop in November gold import bill

The value of India’s gold imports in November fell by over ` 29,900 crore, or 84 per cent, from the level in January after steps taken by the government to curb inward shipments of the metal. About 21,281 kgs of gold valued at ` 5,619.66 crore was brought into the

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Raghuram Rajan says time not ripe for lifting curbs on gold imports

The RBI measures, the prime driver to narrow the current account deficit (CAD) to 1.8 per cent in the second quarter, will be withdrawn once the the deficit stabilises on its own, beyond the imposed gold restrictions, he said. The Reserve Bank today said it is not the right time

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India gold eases to two-month low, premiums fall

Gold futures fell more than 1 percent on Thursday to their lowest level in more than two months, tailing overseas leads though a weaker rupee kept the downside limited, while premiums eased in the domestic market. At 5.22 pm , the most-active gold contract for February delivery was 1.36 percent

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Gold holds ground ahead of Fed decision on stimulus

Gold edged higher on Wednesday after the previous day's slide, ahead of a key US Federal Reserve decision on when to begin rolling back its massive monetary stimulus. The Fed will issue a statement at the end of its two-day policy meeting on Wednesday at 1900 GMT, the last one

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Gold edges higher ahead of Fed policy statement

Gold firmed a touch on Wednesday ahead of a keenly awaited policy announcement from the Federal Reserve, as investors awaited further clues on when the US central bank will trim its monetary stimulus programme. Speculation that the Fed will taper its $85 billion monthly bond purchases, in a move away

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Gold Ends Lower With Focus On Fed QE Taper

Gold futures snapped a two-day gain to end lower Tuesday, on some upbeat economic data out of the U.S., even as investors anxiously await the outcome of the two-day U.S. Federal Reserve policy review meet. With the Fed likely to begin tapering its quantitative easing program, speculations now hinge on

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India mulls easing of gold import restrictions

India may review its gold import duty structure and ease the tight curbs on import of gold, following dramatic improvement in the country’s Current Account Deficit (CAD) situation and the alarming rise in gold smuggling acts. According to Finance Ministry officials, the Indian government may announce the revised duty structure

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"As the year ends does the bull market for gold end too?"

For so many years, gold has given gains and has also been the highest return generating asset in its class. But this trend seems to come to an end now where majority of the market believes that gold is now set to enter the bear market after 13 long years.

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India can afford gold import of USD 30 billion a year: Rangarajan

Prime Minister's Economic Advisory Council chief C Rangarajan today said India can tolerate USD 30 billion worth of gold imports. A major reason for high current account deficit (CAD) in the last fiscal was high imports of gold. "As inflation comes down and as financial assets become more attractive, perhaps

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Gold supported by weaker dollar ahead of FOMC meeting

The U.S. Comex gold futures (COMEX:GCG14) staged a rally of 2.18% on Tuesday to end at $1,261.10. The jump was the biggest percentage rise since Oct. 17. The CRB Commodities Index also jumped 0.76% this week. Year-to-date, the gold futures have fallen 24.75% while the S&P 500 Index (CME:SPZ13) has

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