Gold prices slump below Rs 28,000/10gm on global cues

Gold prices crashed 5 per cent on Saturday plunging the Indian bullion market into panic. Prices nosedived from Rs 28,842 for 10 gm to Rs 27,748 in just one session. Silver prices fell 4 per cent.

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Union Budget 2013: Should import duty on gold be hiked further?

Government had increased import duty on Gold before the budget. The government's move to hike the customs duty from 4 to 6 percent will have a loud impact on the Bullion sector.

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Sliding gold prices dampen India’s firepower on imports

Falling gold prices pose a dilemma for India’s government as it searches for ways to show in its February 28 budget it can control a record current account deficit.

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Pre-Budget Expectation 2013: Riddisiddhi Bullions Ltd

Due to this, the increase in duty on the actual price of gold is being passed on to the retail consumers by the jewellers. This may also lead to rise of illegal channels and malicious activities with respect to importing gold and related products like jewellery etc., in the country.

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Duty hike unlikely to tame imports, say jewellers

The hike in customs duty on gold imports is unlikely to impact imports as jewellers expect customers to adjust to the rise in prices.

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Gold gets the duty to cut the import bill

The government has hiked import duty on gold and platinum by 50%. The move, which is bound to push up prices of gold and platinum jewellery further, is aimed at curbing gold imports.Gold contributes the most to India’s import bill after oil, and has added to a widening of the current account deficit and the resultant pressure on the rupee.

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Learn to earn from your gold holding

Aruna Nayak is keen on using the euphoria around gold and silver to her advantage. She has been purchasing gold in a staggered manner and is looking to earn from her investments. She wonders if depositing a part of her holdings in gold deposit schemes — that she has been reading about — would help.

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Businessman files Rs 100 crore suit against bullion associat

The former president of the Bombay Bullion Association (BBA), Prithviraj Kothari, has filed a defamation suit against the body claiming damages of Rs 100 crore or an apology for "loss of reputation".

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RSBL, Kothari file defamation case against BBA

This is in regards to recent developments between The Bombay Bullion Association (BBA) and RiddiSiddhi Bullions Limited (RSBL) and specifically relating to BBA’s advertisement in various news papers on 31st December announcing Prithviraj Kothari’s expulsion from the BBA and the article in a leading English daily (14th Jan 2013).

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Consumers cut apparel, durables purchases for gold

Amit Maheswari, owner of a gold jewellery shop in suburban Andheri, could let only ten people into his shop at a time due to space constraints. It was Diwali eve. Another twenty-odd people did not mind waiting outside. He provided them chairs and served soft-drinks and snacks too.

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