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India’s medal tally continues to grow after a fantastic ninth day of CWG 2022 in Birmingham. With 13 gold, 11 silver and 16 bronze, the Indian contingent has so far secured 40 medals. ’UTV Indiagames has been the strategic partner to WCG in India since 2002 and with each year, we see a phenomenal participation from young gamers across India and this year certainly has been no different. The response from all six cities has been tremendous and our heartiest congratulations to all the winners. Said Mr. Vishal Gondal, Founder and CEO UTV Indiagames Ltd.

The higher gold imports can harm the country’s trade balance and sometimes has led the government to implement measures to curb gold imports. “The fall in gold prices ahead of the onset of the key festive-buying season has seen India’s fourth quarter get off to a good start from a gold demand perspective,” WGC said. World Gold Council , the market development organisation for gold industry, said on Tuesday it was expecting a slump in demand for gold this year. The first half of the current year has seen an 8% dip in value terms in comparison with the same period of 2011.

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It’s time to re-engage all stakeholders to develop a coherent long-term policy on gold, which is aligned with the nation’s growth objectives,” Somasundaram PR said. Out of these active refineries, 23 refineries imported dore in 2020, and the top five refineries made up more than 70% of India’s gold dore imports. Due to the lower duty on gold dore, the share of gold dore imports increased from 11% in 2014 to 29% in 2020. Indian gold imports have continued to increase despite high import duties. India has imported 6,581 tonnes of gold, officially averaging 760 tonnes per year since the first hike in 2012.

A Gold Fund is a mutual fund or ETF (Exchange-Traded Fund) that invests predominantly in gold bullion or gold-producing companies. In case, the fund invests primarily in bullion or in stocks and bonds of gold manufacturers and miners, the price of the shares within these funds will majorly correlate to the spot price of gold. The objective of this fund is to get returns from gold investments in a convenient way. It said, these policies are designed to improve transparency, broaden the tax base, and draw the informal, cash-based economy into the formal sector. “Our research shows that continued economic growth underpins gold demand.

• Experts from over fifteen countries spanning all sectors of the retail gold investment market provided valuable feedback on both the structure and terminology of the investment principles.
• An exchange will improve price discovery and assess supply and demand better.
• However, in 2013 the United Progressive Alliance second term raised three times and set import duty at 10 percent in August 2013.
• • Central banks in many of the countries have stated to increase their gold holdings resulting in increase of gold price.
• Excluding China, – which managed to counter the widespread fall-in-demand trend with a 3 percent increase in jewellery demand – other countries reported a 24 percent drop in demand for gold jewellery vis-à-vis the year-before figures.

The gold demand in India stood at 193 tonnes during the third quarter of 2016, according to WGC’s Global gold demand in Q3 2017. Gold demand in India stood at 193 tonnes during the third quarter of 2016, according to WGC’s Global gold demand in Q3 2017. The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. Newindianexpress.com reserves the right to take any or all comments down at any time. Federal Reserve chief, Ms Janet Yellen that the central bank’s loose monetary policy was here to stay, has signalled that the current pace of stimulus (vide bond-buying worth U.S. $85 billion per month) may not be tapered in the near term.

WCG report: Q1’09 gold demand in India plunges 83%

The new generation of smart phones with features like facial recognition ID, wireless charging and infrared sensors, require very advanced semiconductors. WCG estimates current generation smart phones contain US $1-1.50 of gold per unit. Aeronautics and automotive sector, which use precision technologies, also use gold in key equipment for areas like lighting and braking systems. Gold has high electrical conductivity and does not corrode or tarnish, unlike other high conductivity materials like silver or copper. Gold is soft, pliable and can be easily drawn out into narrow wires or plated into thin coatings.

Shravan Shetty, Aaron D’Costa and Deepak Pal scored a goal each for the Mira Road side, while the Juhu outfit got their goals through Dwight D’Abreo and Mahesh Kotkar. The winners received a cheque of Rs 70,000, while the Juhu side were awarded Rs 40,000. “The year 2018 is expected to be the beginning of recovery phase. However, the government measures like mandatory hallmarking next year, which will be a positive move for the industry, could impact the trade,” he added. “The drop can be attributed partly to some advance buying in the second quarter to pre-empt the introduction of GST in the third quarter,” he said.

Gold demand seen surging, but is it safe to invest?

• Commodity prices are directly related to gold price index. In this scheme gold needs to be deposit in the banks for some period and receive gold certificate in lieu of that. Gold certificates are proof that individual is holding gold. The bank will pay premium as defined by the banks for the particular duration of time.

Future and options can be used to sell short and also can be used to benefit from a drop in the price of gold. The government’s push for transparency in gold dealings could see demand for the yellow metal drop to its eight-year low in India, the WCG said. In value terms, the gold demand declined by 30 per cent at Rs 38,540 crore, compared to Rs 55,390 crore in the same period of 2016.

Dhanteras sales jump 20% over lower gold, silver prices

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Last year, sometime in September, gold became bold scaling a new high and Assets Under Management of gold Exchange Traded Funds too soared. But having witnessed a correction in gold price soon thereafter, AUM of gold ETFs after depicting resilience for few months began to witness a fall. Earlier, the yellow metal hit a record high above $1,816 an ounce in London, as demand for the safe haven investment rose on resurgent worries about a possible new recession. If gold is traded on an exchange, it will reduce the potential for arbitrage and aid standardisation, argue FICCI and the WCG. An exchange will improve price discovery and assess supply and demand better. It will also involve building strong vaults, which will benefit the country’s gold infrastructure, the lack of which is coming in the way of the gold monetisation scheme.

Gold coins are available in banks, stores or post offices in different weight categories i.e. 1 gm, 2 g, 5 gm, 10 gm. Also there is limitation as banks do not buy back these coins. But WCG coins which are available in jewellery shop are available in lesser premiums and can be sold at market price. India’s gold demand in the third quarter this year fell 24 per cent to 145.9 tonnes as the implementation of GST and anti-money laundering legislation around jewellery retail transactions kept buyers away, according to a report of the World Gold Council . N the quarter ended September this year, gold imports jumped to a three-quarter high of an estimated 262.2 tonnes, owing to lower prices and higher import of dore gold, or unrefined gold, by refineries.

In the year 2017, there was dip in overall investment demand by the range 4 percent which came down to 162.4 tonne whereas the same was earlier 169.3 tonne. As far as the values is concerned, there was 2 percent increase and it rose to Rs 45,250 crore from the earlier Rs 44,560 crore. Back in 2017, there was 1 percent dip in demand of gold and came down to 598 tonne from the previous 601.9 tonne.

There is no need to keep it physically as it is available in electronic wcg gold price. Compared to all other investments gold has proved to be the highest in terms of liquidity. These funds are like international gold funds or funds of funds.

Even legally imported gold is sold in cash and buyers can convert it into an unaccounted asset. Yet Mohit Kamboj, president of IBJA, feels “if all trades of bankers, bullion merchants and jewellers are routed through this exchange, transparency can be achieved. The gold exchange can generate a database for the government.” Indians households and temple trusts are estimated to be holding 22,000 tonnes of gold, which at today’s price works out to Rs 55.66 lakh crore. Assets affecting a big population need a transparent mechanism for price discovery, and a gold exchange appears to be an idea whose time has come.

Get unlimited free shipping in 164+ countries with desertcart Plus membership. We can deliver the Michael Jordan Fleer Polychrome 10TH Anniversary Refractor Gold WCG GEM MT 10 Rookie Card speedily without the hassle of shipping, customs or duties. Website Designed, Developed & Maintained by Express Network Private Ltd. As per the data available with the Association of Mutual Funds in India , AUMs of gold ETFs have fallen to Rs 9,894 crore in October 2013 from its uttermost level of Rs 12,057 crore in January 2013; resulting in depletion of -17.9%.

While FII and FDI are both important sources of investment, they differ significantly in terms of their… It added discussions on gold in India must move beyond curbs and focus on how the sector could contribute significantly to the country’s growth in the next five years. This is an exclusive story available for selected readers only. His visit underlines Foxconn’s heightened interest in India, which is positioning itself as an alternative manufacturing hub for electronics for global companies working to diversify their supply chain away from China. Also, there were measures to ensure mandatory hallmarking to standardise gold jewellery.

For India too, slowdown in economic growth, inflation, concern of fiscal deficit and chances of rating downgrade, are downbeat macroeconomic variables which will encourage smart investors to look at gold as a hedge and an effective portfolio diversifier. Also having witnessed above normal monsoon this year, rural demand for gold could stoke up, as it means more cash in the hands of farmers who often invest mainly in two asset classes gold and land. Supply side constraints are also likely to instil premium of gold prices in India. In such a scenario, smuggling activity may resurrect recognising the fact that India has an insatiable appetite and flair to own the precious yellow metal, due to various emotional and financial reasons.