“The pace of increasing interest rates is going to be
slow but still that would depress gold prices.”
Mark To, Head-Research, Wing
Fung Financial Group
Thursday 31 December 2015
Customs seizes gold worth Rs 1.34 crore at Mumbai airport
The Air
Intelligence Unit of Mumbai Customs on Tuesday apprehended two persons at the
Mumbai international airport and recovered 57.40kg of gold valued at around Rs
1.34 crore, from them....Read More
Indian gold premium rises as December holidays restrict imports
Regional premiums for gold in India were higher
on Wednesday because the Christmas holidays were restricting imports from
Europe, sources said. The Platts Gold Premium India was assessed at a US
$1.75/oz premium to the London price Wednesday, up US $0.75......Read More
Muthoot Exim set to enter gold recycling business; to recycle two tons of gold by 2017-2018
Muthoot Exim, the precious metals division of
Kerala-based Muthoot Pappachan Group, has decided to enter gold recycling business
and participate in the government's gold monetisation scheme with the aim of
recycling 2 tonne of gold by 2017-18. The company set up its first recycling facility,...Read More
Gold drifts as markets slow down for New Year holidays
The gold price drifted during Asian trading hours on
Thursday as global markets slow down for New Year celebrations. Spot gold was
last at US $1,062-1,062.30 per ounce, up $0.40 from Wednesday’s close. Trading
stayed tight-ranged at $1,060.90-1,062.70 so far.....Read More
Organised jewellers to lose Rs 34,650 cr market share over Centre's PAN directive
The
central government's directive making buyer's PAN
card declaration mandatory for jewellery purchases exceeding Rs 2 lakh may
wreak havoc on organised jewellery market in the country as the segment fears
losing a considerable amount of its market size......Read More
Wednesday 30 December 2015
Quote of the day 31st December 2015
“Monthly sales of gold items valued at Rs 2,00,000 or more may dip by a staggering 50% as people not possessing PAN cards will prefer to buy from the unorganised sellers.”
Sankar Sen, MD, Senco Gold & Chairman- East, GJF
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