Mumbai, May 13 (IANS) Gold and silver prices on Wednesday witnessed a sharp surge of up to 8 per cent after the government more than doubled the import duty on precious metals.On the Multi Commodity Exchange (MCX), gold futures (June 5) advanced as much as 7.20 per cent or Rs 11,055 to touch an intraday high of Rs 1,64,497 per 10 grams as of 9:50 am.The yellow metal was trading at Rs 1,62,728, up 6 per cent or Rs 9,286 from the previous close. Earlier in the session, it had opened at Rs 1,54,851…
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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…
New Delhi, Feb 13 (IANS) The top 170 professional golfers of the Professional Golf Tour of India (PGTI) are all set to take part in a first-of-its-kind auction in professional golf in India, PGTI’s 72 The League announced on Friday.Leading professionals from 11 different countries will go under the hammer on Monday, in the capital, in what promises to be high-octane action to set the pace for the inaugural edition of 72 The League.A total of 60 spots will be up for grabs for golfers in the lea…
New Delhi, Jan 5 (IANS) Gold and silver prices started the week on a strong note on Monday as rising global tensions pushed investors towards safe-haven assets.Precious metals witnessed sharp gains after a US military operation in Venezuela over the weekend added fresh uncertainty to the global geopolitical landscape.On the Multi Commodity Exchange (MCX), February gold futures opened higher at Rs 1,36,300 per 10 grams, compared to the previous close of Rs 1,36,761.Prices continued to climb durin…
Mumbai, Dec 26 (IANS) Gold prices extended their winning streak for the fourth straight session on Friday, hitting fresh record highs in both domestic and global markets as investors continued to rush towards safe-haven assets amid expectations of US interest rate cuts and rising geopolitical tensions.On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed another 1 per cent to a new all-time high of Rs 1,39,550 per 10 grams, moving closer to the Rs 1.4 lakh mark.This m…