
Budget 2023: Industry seeks customs duty cut on gold
Gold prices are going up to record levels denting retail sales during the peak festive season.
Gold prices are going up to record levels denting retail sales during the peak festive season.
The yellow metal had an impressive run in 2022 as it emerged as a safe haven due to rising inflation, geopolitical crisis, and recession fears. The trend is likely to continue in 2023.
Absolute returns generated by the asset class have been far better than equities and debt. Superior returns for precious metals are largely due to a weak rupee.
Central Banks globally have accumulated gold reserves this year at a pace not seen since 1967.
Leading private wealth managers discuss how different asset classes are likely to perform this year.
Though physical gold still trumps digital gold consumption by a big margin, there is immense scope for digital gold assets to grow
With 132.34 metric tonnes of gold purchase, RBI emerged as the largest buyer of the yellow metal among central banks between April 2020 and September 2022.
The fifteen-fold rise of Gold ETFs folios (Exchange Traded Funds) in the last four years, underscores the new generation’s unwavering faith in yellow metal.
FM Nirmala Sitharaman said as of now we are catching the smaller operators while the big fish handling everything from remote is still at large.
Given that an average 800 kg gold being smuggled in India annually, the DRI needs to deploy AI and data-based investigation to catch smugglers, says FM