Gold prices up on jewellers buying, overseas cues
PTI Gold prices ticked up by Rs 25 to Rs 30,125 per 10 grams in the bullion market today on scattered buying by jewellers driven by the ongoing wedding season amid firm global cues. However, silver eased Rs 60 to Rs 41,040 per kg on lack of buying support from industrial units and coin makers. Traders said buying by jewellers to meet ongoing wedding season demand and a rising trend in the global market mainly led to the rise in gold prices. Globally, gold rose 0.16 per cent to $1,279.70 an ounce in London. In the national capital, gold of 99.9 per cent and 99.5 per cent purity inched up by Rs 25 each to Rs 30,125 and Rs 29,975 per 10 ...
'Gold schemes to cut down imports, bridge trade deficit'
Gold coins with the national emblem of Ashok Chakra carved on one side and Mahatma Gandhi on the other will also be sold through MMTC outlets Deepak Kumar | The Dollar Business Welcoming the launch of the three gold schemes, industry leaders on Friday said the move will help extract India's unutilised gold reserves, thus reducing the import bill and bringing down the current account deficit. Imports will come down significantly with these schemes. Reduction of imports will advantage treasury and the RBI as they will have less burden of US dollars. At least those investing in gold ETF (exchange traded fund) will try to switch over to investing in bonds because they are paying a nominal charge in the ETF. Here they ...
Qatar based-Bank imports record volumes of gold to meet demand
Source: PTI As falling gold prices continue to fuel strong buying interest, a Qatar-based bank is building up its gold supply to meet increased consumer appetite for the yellow metal. Doha Bank has imported a record 23,818 ounces of gold in the first seven months of 2015 to keep up with sustained demand from jewellery manufacturer, jewellers, retail and high net worth (HNI) investors. Doha Bank is one of the few banks authorised to import gold in Qatar and offers gold bars and mint coins to its customers at an extremely competitive price. Gold prices fell below $1,100 in July 2015, touching a five-year low, and continue to hover around the mark, triggering heavy buying interest. “Despite the short-term headwinds, gold remains a ...
