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Sunday, May 5, 2024
TopicGold

Topic: Gold

How India’s strict lockdown choked gold smuggling routes to country

Illegal shipments of gold are estimated to have slowed to a trickle of about 2 tons a month, and may total about 25 tons this year, compared with an estimate of 120 tons last year.

These are top 5 Indian airports where the most amount of smuggled gold was seized in 2019-20

According to government data, gold smuggling fell marginally in 2019-20 compared to the previous fiscal.

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.

Govt plans amnesty scheme for illegal gold holdings to curb tax evasion and cut imports

Finance ministry plans to ask people with unaccounted holdings of gold to declare it to tax authorities and pay levies and penalty.

Gold demand in India seen plunging to lowest on record as prices hit an all-time high

The consumption of gold fell 56% from a year earlier to 165.6 tons in the first half of 2020. The drop is unlikely to be made up during the rest of the year.

As gold price soars, so does India’s demand for loans against gold in pandemic season

India’s demand for gold-backed loans has risen as its price crosses Rs 50,000 per 10 gm, allowing families to borrow larger amounts against holdings.

This is the message behind the stunning rally in gold prices – world economy is in trouble

Coronavirus has unleashed a torrent of forces that are conspiring to fuel relentless demand for the perceived safety from turmoil that gold provides.

Top Kerala IAS officer removed for links with woman behind UAE gold ‘smuggling ring’

M. Sivasankar was allegedly close to Swapna Suresh, the key figure in smuggling 30 kg of gold bars in a diplomatic bag bound for the UAE Consulate.

Gold sparkles as Covid fears drive prices up to its highest since 2012

Gold is up 15% this year, buoyed by unprecedented stimulus to aid the global economy hurt by the Covid pandemic.

Gold sales in India unlikely to revive before September

Demand for gold had already slowed due to high prices before the pandemic struck. Jewellers are now waiting for the festival season for a boost.

On Camera

Balding men should know this—there’s an ideal time for a hair transplant

Men have a societal and personal stake in keeping their hair intact and are ready to go to any lengths to keep it. But a hair transplant can’t fix thinning hair. 

Air India reduces baggage allowance by 5-15 kg, bringing it in line with rest of industry

Air India’s new policy, effective from 2 May, introduces new weight limits for tickets in each of the different 'fare families' — Comfort, Comfort Plus, and Flex.

China builds road through Shaksgam Valley, India registers protest

New Delhi has, in past, too, objected to Chinese construction activities in Shaksgam Valley. Work in this strategic region gathered pace after the 2017 Doklam stand-off.

Frontrunner is letting the challenger define this poll campaign. Modi still hasn’t found a big theme

A theme has not yet emerged for BJP & people see lack of a contest, which makes it unexciting. For all these reasons, 2024 is turning out to be an unexpectedly theme-less election.