Thursday 31 December 2015

Quote of the day 31st December 2015

 “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

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

AOJ wishes you a New Year that's sparkling with success.... bursting with joy

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