QUOTES OF THE DAY

“We expect a reduction of the customs duty to 4-5% from the current 10% in the forthcoming budget. I can see that gold prices are likely to be at Rs 24,000 by Diwali.”

Mohit Kamboj, President, India Bullion & Jewellers Association (IBJA)

“RBI’s decisions will increase gold supply and ease some of the cost pressures jewellers are facing.”

Somasundaram P R, Managing Director, World Gold Council, India

Abaran Jewellers Shows support to ‘Project Blossoming’; an initiative to support of girl child education

With the aim of creating awareness and raising crucial funds for the education of the girl child, Abaran Jewellers in association with Gemfields and Project Nanhi Kali today organized a fashion show on ‘Project Blossoming’ at the Commissariat road showroom. read more

Gold will drop to Rs 24k/10gm: IBJA

The India Bullion and Jewellers Association (IBJA) has welcomed the amendments done in the gold import policy by the Reserve Bank of India (RBI) on 21 May 2014. Addressing a press conference in Mumbai IBJA President Mohit Kamboj said that gold prices are likely to fall to Rs 23000-24000 per 10 grams by Diwali as it also expects the customs duty reduction in the forthcoming Budget. read more

Gold premium crash on import relaxation by RBI

Gold prices in the spot market here fell on Thursday after the Reserve Bank of India (RBI) last night relaxed rules for importing the metal. Spot gold premium crashed from US $80 an ounce on Wednesday to about US $20 on Thursday, after falling to US $10 during the day.   read more

AOJ Media to take 42 buyers delegation to JCK Las Vegas

AOJ Media Pvt Ltd., the publishers of The Art of Jewellery, India’s No: 1 magazine for the jewellery sector, is leading a delegation of forty two jewellers from India to JCK Las Vegas in USA.   read more

Domestic gold falls to 9-month low; biggest single day fall in 2014

Gold prices in mumbai tumbled R800 on Thursday to hit a nine-month low of R28,100 per 10 grams as premiums crashed by more than half, a day after the Reserve Bank of India allowed banks to provide gold loans to jewellers and permit more entities to import gold.  read more

Platinum jewellery sales to cross Rs 2,500-cr mark in India

Platinum jewellery, which has become young India’s choice, could cross the Rs 2,500-crore mark this fiscal, according to research by IKON Marketing Consultants.  read more