New Delhi, May 13 (IANS) The increase in import duty on precious metals is a part of a broader strategy aimed at conserving foreign exchange, protecting the current account, prioritising essential imports, and strengthening India’s economic resilience in the face of evolving global uncertainties, government sources said on Wednesday.The measure represents a balanced, proportionate, and nationally responsible response to extraordinary external conditions while maintaining due regard for macroec…
Latest gold News & Updates
Bengaluru, May 12 (IANS) Padma Shri awardee and entrepreneur Shashi Soni on Tuesday backed Prime Minister Narendra Modi’s appeal to the country to not buy gold for one year and save fuel as much as possible, asserting the advice is not to frighten the country but instead prepare for any possible setback resulting from the West Asia crisis.During an interaction with IANS, Soni said: “The appeal made by the Prime Minister is not meant to frighten the country. It is a warning before a storm arrives…
New Delhi, May 11 (IANS) Prime Minister Narendra Modi’s appeal for a one-year economic adjustment framework makes sense, which is aimed at managing short-term stress and likely recover over the next nine months, a top banker said on Monday.In an interview with IANS, Dr Dharmesh Bhatia, Director–Wealth Management at Dubai-based Emirates Investment Bank, said such temporary disruptions are part of normal economic cycles, and can be offset in the broader recovery phase if policy and macro condi…
Mumbai, May 6 (IANS) Gold and silver traded higher on Wednesday, tracking weakness in oil prices and the dollar index, with both precious metals gaining up to 3 per cent.On the Multi Commodity Exchange (MCX), gold futures (June 5) opened at Rs 1,52,000 per 10 grams, up Rs 2,247 or 1.5 per cent from the previous close of Rs 1,49,753.At 11:30 am, gold was trading at Rs 1,52,419, up Rs 2,666 or 1.78 per cent. So far in the session, the yellow metal has touched an intraday high of Rs 1,52,450, up Rs…
New Delhi, May 4 (IANS) India has outperformed China in attracting strong global capital flows even as global equity markets rebounded in April after a decline in March, according to a report.According to an analysis of Quant Mutual Fund, the recovery in global markets was driven by easing geopolitical tensions and improved investor sentiment. The report noted that India’s nominal GDP growth continues to outpace China’s, positioning it as a preferred destination for global investors.It added t…
Mumbai, April 30 (IANS) Gold and silver prices rose on Thursday amid surging crude oil prices driven by the West Asia conflict, gaining up to about 2 per cent.On the Multi Commodity Exchange (MCX), gold contracts for June 5 opened at Rs 1,49,499 per 10 grams, up Rs 449 or 0.30 per cent, from the previous close of Rs 1,49,050.At around 1 pm, gold was trading at Rs 1,50,770, up Rs 1,720 or 1.15 per cent. During the session, the yellow metal touched an intra-day high of Rs 1,51,514 (up Rs 2,464 or …
Mumbai, April 29 (IANS) Gold and silver traded on a firm note on Wednesday ahead of the US Federal Reserve’s interest rate decision, with both precious metals trading in a narrow range.On the Multi Commodity Exchange (MCX), gold contracts for June 5 opened at Rs 1,50,720 per 10 grams, up Rs 693 or 0.46 per cent from the previous close of Rs 1,50,027. However, the yellow metal pared gains and was trading marginally lower by Rs 56 or 0.04 per cent to Rs 1,49,971 at 11:30 am. So far in the sessio…
Mumbai, April 27 (IANS) Gold and silver prices traded on a flat note on Monday amid a rise in crude oil prices and reports of a fresh proposal by Iran to end the conflict with the US, raising hopes of de-escalation in the Middle East.On the Multi Commodity Exchange (MCX), gold futures (June 5 contract) were trading at Rs 1,52,410 per 10 grams, down 0.19 per cent or Rs 290 from the previous close of Rs 1,52,699.By 11:00 A.M., the yellow metal touched an intraday high of Rs 1,53,008, up 0.20 per c…
New Delhi, April 25 (IANS) India recorded a net inflow of $106 million in the latest week, which is the first positive weekly flow in seven weeks, a report has said.According to a report by Elara Capital, the inflow came after cumulative outflows of nearly $5 billion over the previous six weeks, indicating a gradual easing of selling pressure from India-focussed funds.Moreover, weekly outflows from such funds declined sharply from a peak of $1.2 billion to about $180 million, it said.Meanwhile, …
Mumbai, April 24 (IANS) Gold and silver prices started the session on a weaker note on Friday, with both precious metals declining by nearly 1 per cent in early trade on the Multi Commodity Exchange (MCX).Gold futures for June 5 opened 0.39 per cent or Rs 594 lower at Rs 1,51,167 per 10 grams compared to the previous close of Rs 1,51,761.Later, the yellow metal touched an intra-day low of Rs 1,50,750, down 0.66 per cent or Rs 1,011. At the last count, it was trading at Rs 1,51,449, a decrease of…