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Jewellers woo consumers, banks

Fearing more hard-hitting measures by the government to control the demand for gold and related products to check the burgeoning current account deficit (CAD), jewellers have started wooing policy makers and consumers. Between March 2012 and this February, the government had raised the import duty six-fold on gold. Apart from

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Gold imports in first 3 quarters equal estimates for full FY13

Gold imports in the first three quarters of 2012-13 have already reached the estimates of full-year imports made by the Prime Minister's Economic Advisory Council (PMEAC) headed by C Rangarajan, data have revealed.The PMEAC had projected gold imports for 2012-13 to be worth $36 billion. According to the Reserve Bank

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Gold firm, silver eases

Gold prices ended steady at the bullion market today in the absence of demand from stockists as well as local buying interest. Meanwhile, silver dropped further on consistent speculative selling following weak industrial demand. “Business is dull in yellow metal due to Easter holidays and expected to pick up soon

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Mr. Prithviraj Kothari, MD – RSBL – PRE – BUDGET VIEWS

Government had increased import duty on Gold before the budget. The government's move to hike the customs duty from 4 to 6 percent will have a loud impact on the Bullion sector. The hike sums up to around INR 60,000 (approx) per kilogram of gold. To be clear, with this

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Factors Influencing Global Gold Mine Supply

Global gold mine production rose very sharply between the early 1980s and 1990s. Through the middle of the 1990s mine production growth stagnated and was actually flat in 1995. There was then some recovery in the period 1996-1998, but output contracted in 2001 and 2002 as the effect of several

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Mr. Prithviraj Kothari, MD – RSBL- Outlook for Bullion Market

Precious metals and to be precise - Gold, has been trading in a tight range since the last couple of weeks, underpinned by a series of US economic releases and renewed optimism over global growth that has reduced investor appetite for the yellow metal. The outbreak of positive reports has

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Mr. Prithviraj Kothari, MD – RSBL – Platinum & Palladium creating a Buzz

Precious metals and to be precise - Gold, has been trading in a tight range since the last couple of weeks, underpinned by a series of US economic releases and renewed optimism over global growth that has reduced investor appetite for the yellow metal. The outbreak of positive reports has

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Tapping into the High Gold Price

The gap between bullion and small-cap gold miners is wider than ever. But with gold far from its peak, those on the cusp of production will catch up as leading sector analyst, Dr Michael Green, explains. Gold has consistently increased in price during the last decade rising 600 per cent

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POST BUDGET REACTIONS

Let me first list down the important highlights of the budget with regards to the Bullion, Gems and jewellery Industry: 1.      FM has announced to levy Commodity transaction tax (CTT) of 0.01% on all non-agro commodity trades such as Gold, Silver, non-ferrous metals and crude oil. 2.  

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Mr. Prithviraj Kothari, MD – RSBL – Current Fall in Bullion Prices

The prices of precious metals showed a downward trend on Thursday, though they were under the green range on Wednesday. On Thursday, the price of gold decreased by 1.15% to $1,660.6; Silver price also fell by 2.54% to $31.34. The main reason behind this was the release of China’s manufacturing PMI report. It stated

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