Rajesh Bhayani

1 month ago | financialexpress.com | Rajesh Bhayani

By Rajesh BhayaniThe government on Monday allotted quota for 180 tonne of gold imports from the UAE at a concessional duty under the comprehensive economic partnership agreement (CEPA), with a traders’ association claiming that around 1,400 applications were rejected. The Directorate General of Foreign Trade (DGFT) received a record number of applications seeking 25 times more than the available quota for gold imports for 2025-26 from the United Arab Emirates (UAE).

1 month ago | financialexpress.com | Rajesh Bhayani

Gold, which has traditionally been India’s go-to asset, lost its sheen on Akshaya Tritiya, as prices have risen over 30% in the past one year. Sales estimates vary – some jewellers said volumes plummeted 30% on Wednesday while others pegged it at 15% lower than the Akshaya Tritiya in 2024. In value terms, the consensus estimate is an average 10% increase. Prithviraj Kothari, president, Indian Bullion and Jewellers Association, puts the fall at over 30% compared to last year.

2 months ago | financialexpress.com | Rajesh Bhayani

Indian jewellery exporters dispatched $500 million worth of goods to the US between March 26 and April 2 in anticipation of the imposition of reciprocal tariff, tariffs, said an official with the Gems and Jewellery Exports’ Promotion Council (GJEPC). These exports were equivalent to a month’s production, and is expected to provide the industry with a three-month relief. “All the exports were done between March 26 and before April 2.

2 months ago | financialexpress.com | Rajesh Bhayani

In recent months, gold prices have rallied both globally as well as in India. However, silver prices have remained muted, comparatively. Since the beginning of the calendar year, gold has jumped 25.1% while silver has risen by 13.5%. On Friday, silver closed at Rs 97,442 per kg at the MCX spot market. No wonder, analysts are betting on silver to rise faster than gold in the coming years.

2 months ago | financialexpress.com | Rajesh Bhayani

The sharp spike in gold prices — 30% over the past year — has dampened local demand for jewellery. Purchases for even weddings, the mainstay of the jewellery market, has been somewhat subdued, limited to light-weight jewellery. Purchases on Akshaya Tritiya, the biggest gold-buying occasion of the year, are expected to be low-key. Local prices of 24 carat gold are currently hovering around Rs 95,000 per 10 gram and could well hit the Rs 100,000 mark by Akshaya Tritiya, which falls on April 30.