Market regulator Sebi will issue certificate of registration for gold vault managers on the basis of proper computerised set-up for deposit, storage and withdrawal of gold. Vault managers can also issue electronic gold receipts in lieu of physical gold.
India bought nearly double the previous year's tonnage of gold in 2021 as there was a price drop in the early 2021. After the first wave hit the country, there was a price surge leading to a drop in the import of gold.
At the interbank forex market, the local unit opened at 75.15 against the greenback and witnessed an intra-day high of 74.95 and a low of 75.16.
The 30-share index slumped 1,189.73 points or 2.90 per cent to end at 55,822.01. Similarly, the NSE Nifty tanked 371 points or 2.18 per cent to 16,614.20.
The latest inflow helped in pushing the number of folios in the category by 10 per cent to 29.29 lakh in November, from 26.6 lakh in October in the preceding month.
RBI has bought 71 tonnes of gold in just 10 months this calendar year. Falling global prices of gold, economic uncertainty, decline in major currencies such as US dollar prompt the buying spree.
Gold ETF folios have increased eight-fold in the last three years, and half of all Sovereign Gold Bonds have been issued only in the last 18 months: a clear reflection of rising popularity of digital gold
Look at prices of precious metals in relation with real rates of return, other commodities and new players like cryptocurrencies.
In terms of purity, 24 carat is considered to be the purest form of gold, while 22-carat gold comes with other metals such as silver or zinc.
Financial inclusion and financial literacy, while beneficial for India’s prosperity and income equality, have created challenges for the gold market.
According to the World Gold Council (WGC), gold demand in India is bouncing back to pre-COVID levels and going forward the outlook looks bullish.
Finance Ministry statement said the duration for the subscription of Series-VII is to be from October 25-October 29, and bonds will be issued on November 2.
Most of the small and medium size jewelers did not support the strike against hallmarking as they welcomed the government move making HUID of gold jewelry mandatory across the country.
On July 12, altogether 146 people, including 28 women showed up at the Janata Durbar where the chief minister lent a patient ear to their problems and reassured them all to solve them.
The incident took place in Telangana’s Jangaon district, reports claimed. Among the antique jewels found were earrings, beads, mangalsutras, and chains.
Soon after the discovery, authorities issued an order to ban mining on the mountain, reports claimed
Gold prices have dropped sharply on the occasion of Makar Sankranti across different states
The physical demand for gold from India and China is expected to take centre stage amid stimulus measures and labour market growth
A farmer sits near his red chillies at a deserted APMC market, during the weekend curfew imposed by the Karnataka government to curb the spread of COVID-19, in Hubballi.PTI Photo
Delhi Chief Minister & AAP National Convenor Arvind Kejriwal being welcomed by women supporters during his door-to-door campaign ahead of the Goa Assembly elections, in Goa.PTI Photo
A health worker collects swab sample of a woman for COVID-19 test, amid concerns over rising Omicron cases, in Gurugram.PTI Photo
Traffic jam on a road at Shalimar Bagh during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
The Lajpat Nagar market wears a deserted look during the weekend curfew imposed by the Delhi government to curb the spread of Covid-19, in New Delhi.PTI Photo/ Shahbaz Khan
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