To ensure purity standards, the Centre is eyeing to implement mandatory hallmarking of gold jewellery from June 1. After implementation, jewellers will be required to register themselves with the Bureau of Indian Standards. Earlier, in November 2019, the government had announced to mandate BIS mark from January 15, 2021 which was deferred citing the pandemic. Now jewellers will be allowed to sell only 14, 18 and 22 carats of gold.
Courtesy: The Economic Times
The Customs Department at Mangaluru International Airport have arrested three people and confiscated 2.8 Kg of gold worth Rs 1.3 crore, on April 7. Accused Muhamad Ashraf had hidden gold under his feet, while Rajeesh had concealed gold under his large intestine, as four capsules in compound form. Reportedly, Muhamad Kalanad an another smuggler who was arrested by the security officials through the intelligence agency inputs.
Both men's and women's team from India, on March 21, clinched gold in the 10m air pistol competitions at the International Shooting Sport Federation (ISSF) World Cup, Delhi. The women's squad involving Yashaswini Singh Deswal, Manu Bhaker and Shri Nivetha outplayed Poland's team with 16 shots. Relatedly, the men's trio comprised of Youth Olympics and Asian Games champion Saurabh Chaudhary, Abhishek Verma and Shahzar Rizvi secured a 17 against… read-more
Courtesy: Hindustan Times
Owing to the widespread popularity of Mysore silks and Mysore sandalwood soaps, Karnataka government has decided to boost the brand name by producing gold coins & jewellery. Reportedly, the jewels produced will have “Gandaberunda” embedded on them. The government will launch jewellery retail outlets to sell these gold coins and will also collaborate with private jewellers, said Murugesh R Nirani, the Mines and Geology Minister. It will… read-more
Courtesy: Indian Express
The villagers of Uthiramerur in Tamil Nadu have found 565 grams of ancient gold during the restoration of an ancient Shiva Temple. The gold has been spotted by them beneath the steps leading to sanctum sanctorum of the temple. However, the police have seized the gold despite being strong opposition from the villagers. Located about 40 km from Kancheepuram, the villagers believe the temple rules back to Chola Period.
Courtesy: India Today
Amazon has launched its 'Dhanteras Store' to sell products, including jewelleries and electronics items, with cashback offers. The company has assured special discounts on products from Malabar Gold and Gems, Joyalukkas, Samsung, BIBA, Lenovo and Dell among others. It also announced exclusive rewards on purchase through RuPay cards of Citi Bank, Kotak Mahindra Bank and ICICI Bank. Cashback up to Rs 1,500 for payments via Amazon Pay wallet… read-more
Courtesy: Good Returns
Indian boxers shone at the Alexis Vastine International Boxing Tournament in France as Amit Panghal and Sanjeet clinched gold in their respective categories on October 31. Panghal defeated the American Rene Abraham 3-0 to win gold in the 52 kg category. In the 91 kg category, Sanjeet took down Frenchman Soheb Bouafia to secure gold. India's Ashish Kumar in 75 kg received gold after opponent retired-hurt.
A jewellery shop in Surat came up with a marketing strategy of selling diamond-studded masks especially for couples getting married amid lockdowns ranging between 1.5 to 5 Lakh, despite the rise in gold prices. Reportedly, most of the jewellery shop work force have returned to their hometowns due to pandemic. Recently, Shankar Kurade from Pune got himself a gold mask of worth Rs 2.89 Lakh
Courtesy: Live mint
Gold prices today crossed the key psychological level and went beyond the bar of Rs.50,000 per 10 Grams increasing by 0.16%. World's second largest consumer, India has seen surge in gold prices by 28% in the first six months of 2020. Weak market demand has made dealers give a discount upto $5 over official domestic prices, including 12.5% import tax and 3% GST in India.
Courtesy: Live mint