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GOLD DORE IMPORTS
Gold rush missed: Can India dig its way out of import dependence?India's significant gold imports, exceeding 800 tonnes in 2024 while producing only 2 tonnes, highlight a missed opportunity. Learning from...- India's gold tariff hike fuels smuggling revival, squeezes banks and refinersIndia's decision to raise gold import duties to 15% is triggering a fresh surge in smuggling, as illegal operators exploit a widening price...
- What's brewing? FinMin seeks gold lending info from banksIn a communique to banks on Friday evening, the Department of Financial Services sought data on value and quantity of gold metal loans (GML...
- Gold imports jump 82 pc to USD 5.62 bn in April; silver by 157 pcIndia saw a significant jump in gold imports in April, reaching USD 5.62 billion. This surge was driven by high prices. However, the govern...
- DRI, Customs officers to intensify vigil on gold smuggling post import duty hikeRevenue intelligence and customs officials are preparing to tighten surveillance across airports, seaports and land borders after India rai...
- India raises gold import duty back to 15%: What’s behind the moveIndia has significantly raised import duties on gold, silver, and platinum. This move aims to safeguard the nation's economy and foreign ex...
- India raises gold, silver import duty to 15% to curb imports, support rupee amid West Asia crisisGold, silver import duty hike: India has significantly raised customs duties on gold, silver, and platinum imports to 15% and 15.4%, respec...
- Indian April gold imports fall to near 30-year low as tax demand hits shipmentsIndia’s gold imports in April are set to fall to around 15 metric tons, a near 30-year low, as banks halted shipments following a 3% IGST d...
- Imports made up 86 per cent of India's gold supply between 2016-2020; will be stronger in 2022: WGCIndia imported 377 tonnes of gold bars and dore from over 30 countries in 2020, 55 per cent of which came from just two countries -- Switze...
- Government puts gold dore imports under restricted categoryIndia, the world's second-biggest gold consumer after China, imports about 900 tonnes of gold a year.
- Rising gold dore imports to India to dent banks' market shareThe rising dore imports should reduced the market share of refined gold-supplying banks such as JPMorgan, ICBC Standard, Scotiabank, UBS, H...
- MMTC Venture finds refining at Swiss unit cheaperThe company has diverted four tonnes of dore gold since the last week of July.
- Gold industry wants government to impose customs duty on raw goldThe GST on gold is 3%. This subsumes VAT, excise, CVD and other levies, with the exception of stamp duty, from July 1.
- From June, only BIS accredited refiners can import raw goldIndia on average imports 750-800 tonnes of gold. This includes refined bars and dore gold.
- Ghana makes government certificate mandatory for exporting dore goldConflict gold is mined illegally or by employing child labour or using illicit means of mining. Funds generated by such means are used to s...
- Impure gold imports halve in April vs JanuaryThe reduction in imports will not only help ease the government’s current account deficit but also contain the entry of conflict gold.
- Indian gold refining units are now focusing on scrap jewelleryThe duty differential for refining units in nonexcise free area is a meagre 0.47% those operating in excise free zone is enjoying a margin ...
- Gold dore imports on 8% duty hit bar inflows from DubaiImport of gold bars from Dubai to India, that attracts a 10 per cent import duty, may take a hit as refiners are importing more of gold dor...
- Differential gold import levies may cost India $3 billion: ReportGoing by the report, the current 2.06% duty differential — representing $25.75/oz — is significantly higher than the refining cost.
- RBI eases norms for gold dore importsRBI partly eased restrictions on import of gold dore by allowing refineries to import 15% of their gross annual requirement in first 2 mont...
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