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20.05.26 - 18:18
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24K love for gold: Why is India obsessed with the yellow metal? (Times of India)
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India's enduring love for gold spans centuries, evolving from tradition to modern investment. Women hold vast reserves, and the market is set for significant growth. Digital gold and ETFs are gaining traction alongside traditional jewellery. Gold remains a symbol of prosperity, security, and auspiciousness for Indians across generations....
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14.05.26 - 22:12
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India Panics, Further Tightens Gold Flows As Rupee Collapses (ZeroHedge)
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India Panics, Further Tightens Gold Flows As Rupee Collapses
Well, that escalated quickly...
With the Rupee accelerating its declines to ever lower record lows against the dollar, Indian authorities have stepped up capital controls, focusing on curbing demand in the gold 'exit' route.
4 days ago, there were no signs of import duty hikes as Prime Minister Narendra Modi issued a rare weekend appeal urging citizens to forgo gold purchases as well as unnecessary foreign travel in order to help hold up the currency..
2 days ago, tariffs were more than doubled on gold and silver imports to 15% and 6% respectively.
And today, they are doing even more with India now tightening the advance authorisation route, effectively capping how much gold individual exporters can bring in through that channel.
A government notification stated that imports of bullion exceeding 100 kilograms would be subject to prior authorization, adding that any subsequent imports would only be granted after exports equival...
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14.05.26 - 14:40
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Gold und vor allem Silber zeigen relative Stärke (SG)
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Trotz der Erholung der Ölpreise hat Gold die Gewinne der letzten Tage fast verteidigen können. Silber schoss sogar gestern deutlich nach oben und notierte heute zwischenzeitlich bei 87 USD je Feinunze auf einem Zwei-Monatshoch. Der Impuls für die relative Stärke von Silber, das stärker als Gold von der Industrienachfrage geprägt ist, dürfte von den Industriemetallmärkten ausgehen. Der Index der Londoner Metallbörse kletterte gestern auf ein neues Rekordhoch. Für Auftrieb sorgt auch ein Bericht der Research-Einheit Shanghai Metals Markets, demzufolge Peru den Nofall wegen der Energiekrise ausrufen könnte. Davon könnte auch die Produktion von wichtigen Metallen betroffen sein. Peru war 2024 laut Metals Focus bei der Silberminenproduktion der drittwichtigste Anbieter.. --- Premierminister Modi hatte am Wochenende die Inder zur Kaufzurückhaltung bei Gold für mindestens ein Jahr aufgerufen, um die Währungsreserven des Landes zu schonen..
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13.05.26 - 07:19
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India More Than Doubles Gold, Silver Tariffs To Defend Crashing Rupee (ZeroHedge)
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India More Than Doubles Gold, Silver Tariffs To Defend Crashing Rupee
One day after vehemently denying speculation that India plans to raise duties on gold and silver imports following Prime Minister Narendra Modi's urging people to avoid buying gold for a year due to the impact of the Iran war, India did in fact raise import tariffs on gold and silver in an attempt to defend its currency, a surprise move as the country races to limit the damage from the Middle East war and to shore up foreign-exchange reserves.
The government has more than doubled import taxes on gold and silver to about 15% from 6%, according to two official orders, imposing a 10% basic customs duty alongside a 5% agriculture infrastructure and development levy.
The hikes, aiming to dampen demand in the world's second-largest bullion market, followed a rare weekend appeal from Prime Minister Narendra Modi in which he urged citizens to forgo gold purchases as well as unnecessary foreign travel in order to h...
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