Thursday, 11 August, 2022
TopicGold prices

Topic: Gold prices

Modi govt plans tweak to Gold Monetisation Scheme, wants you to share price-fluctuation risk

Launched in 2015, GMS allows people to deposit their idle gold with an RBI-designated bank & earn interest on it, much like in a fixed deposit scheme.

Gold nears 19-month high as ban on Russian oil & concerns over inflation, growth boost demand

Bullion has gained 12% in 2022 and is closing in on a record as investors seek a store of value amid the threat of an inflationary shock to the global economy.

Gold near 13-month high as Russia’s invasion of Ukraine aids demand

Bullion dipped after jumping almost 2% in the previous session. It rose by the most since May last year amid concern over the penalties against Russia could dim global growth.

After 3 days of gains, Gold holds steady amidst US employment drop, geopolitical tensions

Due to spread of omicron, US business payrolls fell the most last month, since early days of pandemic. Meanwhile, US govt has given a stronger military message of support for Ukraine.

Gold imports by India fasten to decade-high as jewellery sales double

Weddings and celebrations picked up in full swing in the December quarter, more than doubling full-year imports to about 925 tonnes, the highest since 2011.

Gold price rises in US market as investors look to tighten monetary policy amid Omicron threat

As US tackles the hottest inflation since the 1980s, officials this month floated raising rates in March and the potential need to hike as many as five times this year.

Gold hold drops on signs Omicron variant less severe than previous waves

Bullion is heading for its first annual loss in 3 years, after rallying to an all-time high in 2020, as central banks start to dial back pandemic-era stimulus to fight inflation.

Covid economic distress is real, just look at the full-page ads for gold jewellery auctions

Newspapers are filled with ads of gold jewellery auction amid indications of economic distress faced by Indian households. But resurgence in gold prices could stem the auctions.

It’s not just food prices, Covid pandemic has also helped push inflation to 7.6% in India

Rising gold prices, surging healthcare costs and people’s preference to use private transport are behind CPI inflation rising to 7.6% in October.

India’s gold imports rebound in July after 79% fall in first half of 2020

The rise showed the first year-on-year increase in first half of the year. However, gold demand is forecast to slide to record low as virus-related restrictions left million jobless.

On Camera

YourTurn

File photo of Sterlite copper unit at Tuticorin in Tamil Nadu | By special arrangement

Shut since 2018 violence, TN Sterlite plant’s closure cost economy Rs 14,749 cr, says study

Copper plant in Thoothukudi was closed after protests turned violent & police firing left 13 people dead. Job losses one of major impacts, says study by NGO CUTS International.

Defence

Representational image | Indian Army soldiers during the Army Day Parade at Cariappa Parade Ground in New Delhi | ANI Photo

Army looks to reduce troops by 2 lakh, deployment in Kashmir could be rejigged

The Army, which faces a shortage of about 1.35 lakh personnel, is aiming to reduce its strength from 12.8 lakh to around 10.8 lakh.

In Kashmir 3 years on, 3 positive changes, 3 things that should’ve happened & 3 that got worse

Kashmir as a crisis has fallen off our headlines and from the top of our collective minds. Which is precisely the most important change for the better.
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