Mandatory hallmarking process of gold jewellery and artefacts will begin from today, Ministry of Consumer Affairs said in a press release.
Symbol: GOLD| Contract: Feb, 2020| Category: Bullion
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Imports too declined by 8.83 per cent $38.61 billion, bringing down the trade deficit to $11.25 billion during the month under review.
India's forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India's reserve position with the International Monetary Fund (IMF). On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $3.01 billion to $427.94 billion.
Local gold futures hit an all-time high of Rs 41,096 per 10 grams, taking their gains to more than 5 per cent in 2020 after rallying nearly 25 per cent in 2019.
Gold surged close to a seven-year peak on Monday, as investors flocked to the safe-haven metal on escalating US-Iran tensions.
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