Gold Silver Reports — Titan Co. Ltd., India’s top maker of branded jewelry by market value, expects sales from its Tanishq stores to rise 30 percent this fiscal year as the country’s tax overhaul helps to attract more customers and the company expands its network. The shares rose to a record even as bullion prices fell.
India
Pre-GST buying spurs gold demand in India, import at record high in May: WGC
Gold Silver Reports — India’s gold demand surged in the June quarter, helped by improved rural sentiment and buying ahead of the 1 July implementation of the Goods and Services Tax (GST).
India Trade Ministry Sees Scope for Lowering Gold Import Tax
Gold Silver Reports — India’s trade ministry sees scope for lowering the import tax on gold as the current account deficit improves in the world’s second-biggest consumer of the metal.
Indian Crude Oil Basket Rises Near $48 Levels
Gold Silver Reports — Indian Crude Oil Basket Rises Near $48 Levels — The international crude oil price of Indian Basket as computed today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 47.74 per barrel (bbl) on 19.07.2017.
India Will Remain Reliant On Wheat Imports Despite Bumper Production
Gold Silver Reports — The latest release from United States Department of Agriculture (USDA) stated that India will still import close to 4 million tonnes of wheat from other nations despite of record production in current season.
Gold Imports by India Said to More Than Double Ahead of New Tax
Gold Silver Reports — Gold imports by India, the world’s second-biggest user, more than doubled in June from a year earlier amid a rush by jewelers to build up inventories ahead of a tax change.
HSBC Sees Rupee Weakness as Foreigners Put Brakes on India Flows
Gold Silver Reports — The Indian rupee may weaken as global funds start to hit buying limits for the nation’s debt and valuations for equities look expensive, according to HSBC Holdings Plc.