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UNOFFICIAL GOLD CHANNELS
Gold imports fall to 25-30 tonnes/month from 70-100 tonnes after duty hike: Govt sourceGold imports into India have dropped sharply. The government's decision to increase import duty is proving effective. Higher gold prices an...- Smugglers are hard at work as higher duty puts the shine on goldThe recent spike in import duties in India has inadvertently fueled a rise in gold smuggling activities. Traders are noting a marked increa...
- How gold ETFs, tax changes, and recycling incentives can reduce India’s dependence on gold importsOne of the objectives of the gold ETF was not merely financial innovation but to reduce, or at least postpone, the import of physical gold....
- Why organized players like Titan Company could emerge bigger winners in India’s evolving gold marketIndia's gold market is rapidly formalizing despite high prices and tax hikes. Resilient consumer demand, especially for investment, favours...
- India’s gold import duty hike: A double-edged swordIndia has raised gold import duty to 15% and urged citizens to buy less gold. This move targets foreign reserves and the rupee's value. How...
- Brace for higher gold prices and supply boom in grey markets after customs duty hike: SBI report15% customs duty hike on gold imports is expected to raise domestic prices and potentially divert supplies through unofficial channels, acc...
- Gold duty cut spurs official imports, curbs unofficial channels: ICRAIndia's gold import dynamics saw a shift in FY2025 following a sharp reduction in import duty from 15% to 6%, effective July 24, 2024. Acco...
- Red Hot Yellow Metal Battles Grey Market
- KYC cracker scares gold buyers, sales fall 50% since last monthWith prices ruling high, buys may fall further ahead of festive season.
- Gold imports to dictate size of current account deficit in second half of 2017: ICRAAnecdotal evidence suggests a sharp rise in gold imports in Nov 2016, on the back of inventory replenishment, festive season and wedding de...
- High import duty on bullion leads to malpracticesTop trade associations of the country have now brought this to the finance ministry's notice while calling for a rationalisation of the 10 ...
- Gold imports drop 76 per cent in April-July this yearThe country's total official gold imports declined to 60 tonnes in April-July of this fiscal, much lower than 250 tonnes in the year-ago pe...
- Budget 2015: Jewellers upset by status quo on gold import dutyOrganised jewellers were especially disappointed as the government did not cut the 10% gold import duty which they had anticipated would be...
- Dive in exports to stay on new European Union norm: ReportDecline in exports, witnessed in Feb, may continue for more time as the EU has withdrawn preferential treatment to merchandise shipments fr...
- China overtakes India in gold demand in 2013: WGCFor the first time India lost its tag of the world's largest gold consumer to China, which lapped up 1,065.8 tonnes of the precious metal i...
- Restrictions on gold imports to be reviewed by March-end: Finance MinisterThe govt is unlikely to lift import restrictions on gold before the end of this financial year, finance minister Chidambaram indicated.
- RBI measures will not help the rupee for the short term: AV RajwadeRBI measures are not going to arrest the rupee fall. These measures could have an impact on the dollar demand over a period.
- Make 1% tax at source mandatory on purchase of bullion: JewellersStating that a hike in import duty will not have desired results, GJF has come out with several recommendations to curb gold import.
- Gold may become costlier by Rs 700 per 10gm after duty hikeWhile the investment demand may fall in the immediate future, gold consumption in the jewellery demand would remain largely unaffected.
- Duty hike drags down gold priceJewellers said the recent duty hike over and above the reigning high price would eventually act as a drag on demand and result in lower imp...
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