Jewellers Strike

Just a casual day for Deepika Padukone to pose perfectly with her luxury watch. That's it!

The Uttar Pradesh police today have arrested five accused for killing two jewellers in Mathura earlier this week. Six armed robbers had barged into the jewellery shop in Koyalawali Gali and opened fire that killed the two traders. Two others were injured in the incident. The accused came on motorbikes and escaped with money and gold worth Rs 4 cror...

India's gold demand is likely to fall to around 750-800 tonnes in 2016, as against 860 tonnes last year, mainly due to A sharp rise in prices and a strike by jewellers' following new regulations, the World Gold Council has said.

India's gold demand has been revised downwards by 12 per cent to 750-850 tonnes for this year after it fell by 18 per cent to 131 tonnes in the second quarter in view of a sharp jump in prices and a strike by jewelers following new regulations, the World Gold Council said on Thursday.

In striking the jewel of the French Riviera on a national holiday the truck attack on Nice delivered a new blow to France's tourism sector already reeling from repeated terror attacks.

Gold demand in Asia was muted this week as physical buyers stayed off the market due to the bullion's recent rally, with a key festival in India failing to lift demand in the world's second biggest consumer.

Gold demand in India declined by 39 per cent during the first quarter of this year at 116.5 tonnes due to jewellers' strike over re-introduction of excise duty that affected the wedding purchase segment, says a report.

Gold imports fell sharply by 67.33 per cent to 19.6 tonnes in April 2016 as jewellers' strike opposing one per cent excise duty on non-silver jewellery significantly hit demand for the metal, according to gold and silver refiner MMTC Pamp.

India's current account deficit is likely to swing to a surplus in the January-March period of this year amid lower oil and gold imports, says a report by Japanese financial services major Nomura.

Government in Rajya Sabha on Thursday refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of the Congress and SP.

Gold regained its sheen to trade higher by Rs 215 to Rs 29,790 per ten grams as the bullion market in the national capital reopened after two days of strike, while silver rallied by Rs 775 to Rs 40,975 per kg largely in tune with a firming global trend.

Jewellers and bullion traders in several parts of the country, including Delhi, today resumed their strike, demanding rollback of the one per cent excise duty on non-silver jewellery.

Gold demand in India improved this week as jewellery retailers reopened stores after a strike, but the world's second biggest bullion market remained at a discount to the global benchmark as purchases across the region were curbed by higher prices.

After 43-days of nationwide strike against the excise fees levied, Uttar Pradesh jewellers opened their shops today.

Indian jewellers have been on an indefinite strike since the beginning of March 2016 protesting against the Budget proposal to levy 1 per cent excise duty on non-silver jewellery.

Just a casual day for Deepika Padukone to pose perfectly with her luxury watch. That's it!

The Uttar Pradesh police today have arrested five accused for killing two jewellers in Mathura earlier this week. Six armed robbers had barged into the jewellery shop in Koyalawali Gali and opened fire that killed the two traders. Two others were injured in the incident. The accused came on motorbikes and escaped with money and gold worth Rs 4 cror...

India's gold demand is likely to fall to around 750-800 tonnes in 2016, as against 860 tonnes last year, mainly due to A sharp rise in prices and a strike by jewellers' following new regulations, the World Gold Council has said.

India's gold demand has been revised downwards by 12 per cent to 750-850 tonnes for this year after it fell by 18 per cent to 131 tonnes in the second quarter in view of a sharp jump in prices and a strike by jewelers following new regulations, the World Gold Council said on Thursday.

In striking the jewel of the French Riviera on a national holiday the truck attack on Nice delivered a new blow to France's tourism sector already reeling from repeated terror attacks.

Gold demand in Asia was muted this week as physical buyers stayed off the market due to the bullion's recent rally, with a key festival in India failing to lift demand in the world's second biggest consumer.

Gold demand in India declined by 39 per cent during the first quarter of this year at 116.5 tonnes due to jewellers' strike over re-introduction of excise duty that affected the wedding purchase segment, says a report.

Gold imports fell sharply by 67.33 per cent to 19.6 tonnes in April 2016 as jewellers' strike opposing one per cent excise duty on non-silver jewellery significantly hit demand for the metal, according to gold and silver refiner MMTC Pamp.

India's current account deficit is likely to swing to a surplus in the January-March period of this year amid lower oil and gold imports, says a report by Japanese financial services major Nomura.

Government in Rajya Sabha on Thursday refused to budge from its stance on levying one per cent excise duty on non-silver jewellery saying luxury items cannot be kept out of tax ambit for perpetuity, prompting a walk-out by members of the Congress and SP.

Gold regained its sheen to trade higher by Rs 215 to Rs 29,790 per ten grams as the bullion market in the national capital reopened after two days of strike, while silver rallied by Rs 775 to Rs 40,975 per kg largely in tune with a firming global trend.

Jewellers and bullion traders in several parts of the country, including Delhi, today resumed their strike, demanding rollback of the one per cent excise duty on non-silver jewellery.

Gold demand in India improved this week as jewellery retailers reopened stores after a strike, but the world's second biggest bullion market remained at a discount to the global benchmark as purchases across the region were curbed by higher prices.

After 43-days of nationwide strike against the excise fees levied, Uttar Pradesh jewellers opened their shops today.

Indian jewellers have been on an indefinite strike since the beginning of March 2016 protesting against the Budget proposal to levy 1 per cent excise duty on non-silver jewellery.