A survey by the Bureau of Indian Standards held across 16 cities found that 90.10 percent of 162 gold samples failed purity tests. More shocking fact is that the highest purity shortage was 44.6%.Here are a few tips that may help you buy real gold.
With the normalisation of US monetary policy and the rise in US real interest rates, the under-performance of gold is one of the most high conviction investment themes this year. However, price action in gold might not exhibit a downtrend in 2014.
Gold languished at a six-month low on Friday and was on the edge of tipping over to a 3-1/2 year trough after the Federal Reserve's move to cut back its bond-buying stimulus prompted a huge sell-off.<br /><br />
India's trade deficit narrowed in November as exports rose, while imports hit the lowest level in four years after gold shipments from overseas fell sharply, according to the trade ministry on Wednesday.<br /><br />
Gold demand during the last quarter of this year is likely to be lower than the same period in 2012, however, it will be higher than the July-September period as the demand is picking up and traditionally it is the buying season, World Gold Council said today.<br /><br />
Gold demand fell 21 percent in the third quarter as outflows from physical bullion funds and a drop in buying from major consumer India offset firmer jewellery, coin and bar sales, an industry report showed on Thursday.
However, high net worth individuals (HNIs) cushioned the sharp fall in folios, with the gain in HNI folios restricting the overall fall at 15 lakh folios. However retail participation fell due to the volatility in the market.
Indian silver imports are on pace to hit a record high this year as the wedding and festival season drives up buying of the precious metal instead of the traditional gold, made scarcer and dearer by official measures aimed at cutting the trade gap.<br /><br />
Gold demand from India is likely to jump as much as 15 per cent to 300 tonnes in the December quarter from a year earlier as pent-up demand post a good monsoon could re-surface after a difficult September quarter, a senior official at the World Gold Council (WGC) said on Tuesday.<br /><br />
The rupee plays an important role in determining the landed cost of the dollar-quoted yellow metal. It eased on Thursday.<br /><br />
Any scheme that weans investments into the housing sector is welcome especially if it is from the unproductive investments in gold.<br /><br />
Gold in New York, which normally set price trend on the domestic front, rose by $15.70 to $1412.20 an ounce and silver by 3.19 per cent to $24.28 an ounce.<br /><br />
Much of the demand was met by stocks that had been built up to healthy levels following the April price drop.
This is India's fifth increase in gold import taxes in the past year and a half to curb imports and raise capital inflows to relieve the grinding pressure on the rupee which hit a record low of 61.80 against the dollar last week.
Apart from duty increases, the authorities have also taken other steps too. Here's a timeline of key steps in relation to gold in 2013:<br /><br />
The gold prices have fallen by nearly 8.5 percent since the beginning of 2013, while the stock market benchmark Sensex has dipped by about 4 per cent.<br /><br />