Gold prices rise by approximately 14 per cent in FY2024 YoY and are higher by about 18 per cent YTD over FY2024 average Srikumar Krishnamurthy, Senior Vice President and Co-Head – Corporate Ratings, Icra notes that gold prices rose by approximately 14 per cent in FY2024 YoY and are higher by about 18 per cent […]
In a bid to curb tax advantages exploited by jewellers, the government considers raising taxes on imported ‘Gold Findings’ used as connectors, following revelations of surging imports The government has moved to hike taxes on the imports of ‘gold findings’ after a report in BW Businessworld on 31 December 2023 revealed that its imports had […]
India’s gems and jewellery exports experienced a decline of 11.49 per cent, reaching Rs 22,873.19 crore (USD 2,748.01 million) in October, as per data from the Gem and Jewellery Export Promotion Council (GJEPC). In comparison, gross exports in October 2022 were Rs 25,843.84 crore (USD 3,134.85 million). Cut and Polished Diamonds (CPD) exports fell by […]
India’s gold demand in April-June 2023 quarter dropped by 7 per cent to 158.1 tonnes, attributable to high gold prices which significantly impacted affordability and consumer sentiment, said World Gold Council in a report on Tuesday. In comparison, in the same quarter the previous year, the demand for yellow metal was 170.7 tonnes. Coming to […]
Any gold jewellery and artifacts having only a four-digit number Hallmark Unique Identification (HUID) number as a hallmark cannot be sold from 31 March, the Ministry of Consumer Affairs has announced. From 1 April, only those gold jewellery and artifacts with a six-digit alphanumeric number as a hallmark can be sold, Nidhi Khare, additional secretary, […]
