NEW DELHI: Gold and silver rose in Tuesday’s early session as tensions between US and China escalated and amid projections that India’s economy could contract 16.5 per cent in the first quarter of the current fiscal. US President Donald Trump on Monday promised tax credits for firms who relocate manufacturing facilities to the United States … Read more
MUMBAI: A proposal by a group of ministers for GST amendment on the gem and jewellery sector elicited a mixed response from the trade. To plug loopholes in collection of GST or potential misuse, the GoM recommenced a 3% GST on purchase of old jewellery under the reverse charge mechanism. Also, an E-way bill has … Read more
NEW DELHI: States can make e-way bill mandatory for transportation of gold within the respective states but implementing it for inter-state movement across India will not be feasible, a state-ministerial panel suggested on Friday. The group of ministers (GoM), comprising finance ministers of Kerala, Bihar, Gujarat, Punjab, Karnataka and West Bengal, set up to examine … Read more
By Andy Mukherjee Even if it proves to be a blip, this week’s volatility in gold may have its uses. For one thing, Tuesday’s steepest single-day price decline in seven years should make bankers in India wary of storing up future trouble by writing risky subprime loans against the country’s most-loved commodity. Gold has a … Read more
Titan Company on Monday reported a standalone net loss of Rs 270 crore in the quarter ended June 2020 against a profit of Rs 371 crore a year ago, hurt by Covid-19-induced lockdown. The figure was significantly higher than analysts’ expectations. An ET Now poll had projected a net loss of Rs 127 crore for … Read more
Gold rose on Friday and headed for its biggest monthly gain in 8-1/2 years as the impact of the worsening coronavirus pandemic on the U.S. economy hammered the dollar, prompting investors to seek refuge in bullion. Spot gold was up 0.8% at $1,975.30 an ounce by 0927 GMT, while U.S. gold futures rose 1.5% to … Read more
Gold gave up gains on Tuesday after scaling record highs as the dollar regained some ground, although simmering U.S.-China tensions and bets that the U.S. Federal Reserve would maintain its dovish policy stance kept demand solid for the metal. Spot gold was steady at $1,941.23 per ounce by 0707 GMT, but off its peak of … Read more
NEW DELHI: Gold has lived up to its reputation as an asset class of distressed times, by staging a major rally that saw it get past the psychologically important Rs 50,000-mark on Wednesday in the derivatives market. Its peer silver was late to join the rally, but still has seen a stupendous rally, rising about … Read more
NEW DELHI: Gold and silver climbed higher in early trade on Tuesday as traders rushed to safe haven assets amid worries over rising Covid-19 cases across the world. The total Covid-19 patient count in India topped 11.5 lakh, the third highest in the world, with over 28,000 deaths. To check the spread, many states have … Read more
Gold steadied near the psychological level of $1,800 on Friday after a sharp fall in the previous session, as worries over surging coronavirus cases and US-China tensions underpinned its safe-haven appeal, although a stronger dollar capped gains. Spot gold was up 0.1 per cent at $1,799.18 per ounce by 0710 GMT. US gold futures were … Read more