Gold prices are expected to fall to Rs. 24,000/10g. This may be due to easing of RBI controls due to the stabilization of rupee. Strengthening of US economy has resulted in the diversion of money into investments such as equities. In the domestic bullion market, gold has reacted about 10% and has traded at a higher premium over international market thanks to the … [Read more...] about Gold Prices May Drop Further
Bullion
Gold Import Norms Eased
Following representations made by jewellers and bullion dealers, the RBI has permitted star trading houses (STH) and premier trading houses (PTH) to import gold under the 20:80 scheme. Accordingly: Gold can be purchased by the importer, provided that 1/5th of the imported gold is exported as finished products like jewellery. Banks are also permitted to provide gold … [Read more...] about Gold Import Norms Eased
Gold Demand Slides Due To Import Curbs
The high import duty and supply curbs on gold imposed to reduce the current account deficit has had a substantial effect its demand as it slid by 26%, value terms reduced by 33% and dollar terms by 41%, besides a reduction in jewellery demand and investment demands in the first quarter. The new govt is expected to lift the curbs leading to a reduction in the prevailing … [Read more...] about Gold Demand Slides Due To Import Curbs