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Gold Silver Reports – India Anti-Money-Laundering Rule Reversal – Shares of jewelers climbed in India after the government withdrew an order that brought the industry under anti money-laundering legislation, a move that comes just as gold buying improves before the Hindu festival of Diwali, the peak season for demand.
Gold Silver Reports – Gold Prices surged by Rs300 to Rs29,660 per 10 grams at the bullion market in Mumbai on Monday on fresh buying by jewellers and retailers after the government revoked an order that mandated permanent account number (PAN) and Aadhaar cards for purchases above Rs50,000.
Gold Silver Reports – These days, even coin collectors have turned sour on bullion. Sales of gold coins in the first nine months of the year shrank to the lowest in a decade, U.S. Mint data show.
Gold Silver Reports – Kobe Steel Co. Ltd. said on Sunday that it had falsified data related to strength and durability of some aluminum and copper parts products to make them look as if they met client quality standards.
Gold Silver Reports – Gold prices rose on Wednesday after hitting a seven-week low in the previous session, buoyed as the dollar pulled back from a one-and-a-half-month high against a basket of currencies.
Gold Silver Reports – The GST (goods and services tax) rate on gold jewellery is fixed at 3%. While it is higher than the earlier tax on gold, the GST rate is lower than expectations of a 5% rate and that is a relief.
Gold Silver Reports – India May Raise Natural Gas Price First Time in 3 Years – India may increase domestic natural gas prices for the first time in nearly three years, providing some relief to producers who are struggling to recover costs, a Bloomberg survey of analysts and industry participants showed.