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Gold Plunges On Strong Dollar, Fed Minutes

Gold futures settled sharply lower Wednesday, as the dollar strengthened after the Federal Open Market Committee policy meet minutes showed views divided over the duration of bond purchases. Gold was also impacted after Goldman Sachs cut its price forecast for the precious metal for 2013 and 2014. Gold also came

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Won’t sell conflict gold to India: Dubai

Indian gold importers can heave a sigh of relief. Dubai, one of the major sources from where India buys gold, has assured that Indian authorities it will not export "conflict gold" to India. Conflict gold is gold illegally mined by rebel outfits in Africa and sold clandestinely to buyers across

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Thailand to verify gold jewellery export to India

Thailand has agreed to undertake due verification of the Certificates of Origin on gold jewellery being exported to India, sources said. Concerned over the rising current account deficit (CAD), India’s commerce ministry had in February sought suspension of gold jewellery imports from Thailand till the time the Certificate of Origin

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Government's attempts to rein in gold imports fuel smuggling

The government's attempts to rein in gold imports by increasing the customs duty seem to have resurrected the 'tola' bars or unnumbered bars, a favourite of smugglers and money launderers. The directorate of revenue intelligence (DRI) late on Monday night caught 35.85 kg of tola bars being smuggled into the

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Gold, silver prices spurt ahead of 'Navratras'

NEW DELHI: The prices of both gold and silver spurted in the national capital today on stockists buying to meet the coming "Navratra" festival demand amid a firm global trend. While gold spurted by Rs 175 to Rs 29,975 per ten grams, silver surged Rs 950 to Rs 53,150 per

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U.S. Monetary Policy: Good News for Gold Investors

Jeffrey Nichols, MD, American Precious Metals Advisors We have long expected further monetary easing by the U.S. central bank . . . but September 13's news from the Fed was more than most gold investors could have imagined or hoped for. In reaction to persistent recession-like conditions and continued high

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Government's attempts to rein in gold imports fuel smuggling

The government's attempts to rein in gold imports by increasing the customs duty seem to have resurrected the 'tola' bars or unnumbered bars, a favourite of smugglers and money launderers. The directorate of revenue intelligence (DRI) late on Monday night caught 35.85 kg of tola bars being smuggled into the

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Jewellers plan to woo buyers ahead of wedding season

Faced with lower consumer footprint in stores despite a big growth in sales at the factory gate, the jewellery trade believes it needs to directly engage users. “Sales from the factory gate have peaked in recent months. But actual sales from stores are yet to gain momentum,” said Mehul Choksi,

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Daily Bullion Market Alert

The gold market was able to overcome mild overnight pressure, and posted sizable gains as well as a new weekly high by the close of Tuesday's trading session. Lower than expected readings for Chinese inflation were seen by many traders to have provided gold and other physical commodities with moderate

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Daily Bullion Market Alert

April gold closed sharply higher due to short covering on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that

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