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Posts Tagged: “India“
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Silver News: Indians Buying Silver and New Technological Breakthroughs
Indians are buying silver and this could have a major impact on the world market for the white metal. The Silver Institute covers this story, and highlights several other technological innovations involving silver, in its latest issue of Silver News. It also features an interview with ICE Benchmark Administration COO Matthew Glenville. His company recently began administering the silver benchmark and […]

Are You Pawn Shop Ready?
The pawn shop is probably the last place you want to go if you find yourself strapped for cash. But an interesting article in a Filipino publication reveals a problem millennials face if they find themselves in a cash-crunch. They may have a harder time liquidating assets than their parents because they primarily spend their […]

Silver on Sale! Take Advantage of the Buying Opportunity
The price of silver is at extremely low levels compared to gold. That makes this a perfect time to invest in the white metal. Indians seem to recognize this buying opportunity. According to the Economic Times, silver demand was up 15% during this Dhanteras and Diwali festival season on increased purchases of coins, idols, and silverware. Analysts […]

Smuggled Gold Pouring into India as Consumers Dodge Taxes
An increase in the import duty hasn’t dampened Indians’ appetite for gold. It’s just pushed the market underground. Gold is such an important part of the Indian economy, people will do whatever they have to in order to get their hands on the yellow metal – including skirt the law. According to a recent report by […]

Fun on Friday: No Gold Biscuit for You!
How would you celebrate the birthday of a government building? Maybe send out a press release? Perhaps hold a little assembly and let some politician ramble for a while about how great the building is? Maybe host an open house for the public? Or here’s an idea. Just ignore it. After all, it’s a government building. […]

Indian Gold Demand Up in September Even With Tax Rule
After nearly tripling in August, demand for gold in India remained strong last month, despite a tax rule that put a damper on high-dollar jewelry purchases. Gold demand rose 31% year-on-year in September. Imports came in at 48 tons, according to a Reuters report. Higher purchases by India, the world’s second-biggest consumer, could lend support to global […]
Reversal of Tax Rule Could Boost Gold Demand in India
The Indian government has reversed a tax rule that was putting a damper on gold demand in the country. The government included Indian jewelers under the Prevention of Money-Laundering Act last August. The rules increased compliance requirements for high dollar jewelry purchases. Buyers had to provide their income tax identity for transactions above 50,000 rupees […]
Committee Forming to Establish Indian Spot Gold Exchange
The World Gold Council has announced plans to form a committee that will help set up India’s first physical gold exchange. Officials say they hope to have the exchange up and running in 12 to 18 months. The committee will not actually set up the exchange, but will provide guidance. WGC Indian operations managing director […]

India’s Appetite for Silver
Indians love gold. Despite rising prices, a tax increase, and government attempts to tighten regulation of the jewelry industry, gold imports into the country nearly tripled year-on-year in August. India ranks as the second largest gold consuming country in the world, trailing only China. But gold isn’t the only precious metal Indians covet. They also buy […]

Fun on Friday: He Put Gold Where???
A few Fridays back, I shared some of the innovative ways people have come up with to smuggle gold. Like I said in that article, gold smuggling is a very lucrative business. People want gold, and they’ll go to great lengths to have it. But smuggling isn’t as easy as you might think, and people have put […]