Gold Price may Rise

Gold Price Surges Above Rs. 30,000 On North Korea Missile Worries

New Delhi: Gold prices soared sharply by Rs. 550 to trade at Rs. 30,450 per ten grams at the bullion market on Tuesday, after North Korea fired a missile over Japan, deepening the tension between Pyongyang and the US. Silver followed suit to recapture the Rs. 41,000 mark by climbing Rs. 900 to Rs. 41,100 per kg on increased offtake by industrial units and coin makers. Bullion traders said a firm trend overseas, where gold rallied to the highest level this year after North Korea fired a missile over Japan, boosting demand for havens amid escalating tensions between Pyongyang and the US and its allies, mainly led to the rally in gold prices. Fresh buying by local jewellers also helped the uptrend.

Globally, gold rose 0.90 per cent to $1,322.41 an ounce, the highest intraday level since November 9 last year, and silver 0.66 per cent to $17.54 an ounce in Singapore.

In the national capital, gold of 99.9 and 99.5 per cent purity surged by Rs. 550 each to Rs.30,450 and Rs. 30,300 per 10 gram respectively. The precious metals had lost Rs. 50 in Monday's trade.

Sovereign also moved up by Rs. 100 at Rs. 24,600 per piece of eight grams.

Following gold, silver ready flared up by Rs. 900 to Rs. 41,100 per kg and weekly-based delivery by Rs. 675 to Rs. 39,900 per kg.

Silver coins too spurted by Rs. 1,000 to end at Rs. 74,000 for buying and Rs. 75,000 for selling of 100 pieces.

सांप के डिजाइन वाले गहने

टेलर स्विफ्ट बेच रहीं सांप के डिजाइन वाले गहने

लॉस एंजेलिस। गायिका टेलर स्विफ्ट अपने नए गीत ‘लुक वट यू मेड मी डू’ की रिलीज के साथ संयोग से अपनी वेबसाइट पर सांप डिजाइन के गहने बेच रही हैं। ‘लुक वट यू मेड मी डू’ उनकी आगामी अल्बम रेप्यूटेशन से पहली रिलीज है।

वेबसाइट ‘ईडब्लू डॉट कॉम’ के मुताबिक स्विफ्ट की आधिकारिक वेबसाइट के माध्यम से उनके ऑनलाइन स्टोर पर सिल्वर स्नैक रिंग (प्लैटिनम के साथ चढ़ाई जाती है) और गोल्ड स्नैक रिंग (24-कैरट सोने के साथ चढ़ाया हुआ) के साथ उपलब्ध है।

दोनों आठ ग्राम चांदी से बने होते हैं और इसमें 300 जिक्रोन क्रिस्टल होते हैं। प्रत्येक लागत 60 डॉलर है।

Bans exports of gold Jewelry

India bans exports of gold Jewelry and other Gold Products above 22 carats...

India has banned the export of gold products with a purity above 22 carats in a move a trade group said was a bid to curb a practice known as "round tripping."

The Directorate General of Foreign Trade issued a notification dated August 14 that stated exports of jewelry or medallions, containing gold of 8 carats and above up to a maximum limit of 22 carats shall only be permitted, without giving a reason.

"Round tripping to Dubai will come down due to the move," an official with India Bullion and Jewellers Association Ltd said. A trader, via round tripping, can import gold products at a lower import tax and re-export the same stock without any value addition.

"Until now, traders only had to pay a lower import tax – or no tax at all – on gold jewelry and gold coins so long as they re-exported the gold," Commerzbank analyst Carsten Fritsch said in a note.

"This may also be an attempt by the authorities to prevent the current account deficit from widening again after Indian gold imports rose sharply in recent months."

India's gold imports in July nearly doubled from last year to $2.1 billion, while the country's trade deficit narrowed to $11.45 billion in July from a month ago, following a slowdown in merchandise imports.

India is the world's No. 2 consumer of gold behind China, with many saving their money in gold, using it to hedge against inflation and for gifts at special occasions. The country imports about 800 tonnes of gold a year.

Spot gold fell on Wednesday for the third straight day as the dollar edged higher on the back of robust U.S. economic data and an easing in tensions over North Korea.

Thieves kill jeweller’s son

Thieves kill jeweller’s son,  looted jewellery worth Rs 50 lakh in Kalka

A 19-YEAR-OLD youth, son of a jewellery shop owner, was murdered allegedly by three persons, who fled after looting jewellery worth Rs 50 lakh from the shop in Kalka late evening on Monday.

Shubhanshu Verma, 19, was the youngest son of Jagdish Verma whose jewellery shop is located in the main market of Kalka. The family has run the shop for the past few generations, after they took it on rent from a Shimla-based businessman. The alleged thieves took all the jewellery items, which included nearly 1.25 kg gold and 9 kg silver, totally worth around  Rs 50 lakh.

The incident took place around 1:40 am, when Shubhanshu was sleeping inside the shop on a mattress with the AC on and the shutters of the shop were down. There were six CCTV cameras installed inside the shop, of which only three recorded the incident. The others were either damaged or their direction were changed by the suspects, the police said.

Jewellers divided

Jewellers divided on calling off strike; Delhi shops still shut .

NEW DELHI: A section of jewellers and bullion traders continued their strike for the 20th day here today, demanding rollback of the proposed 1 per cent excise duty on non-silver jewellery, even as major associations called off the stir after meeting Finance Minister Arun Jaitley. 

Most jewellery shops and establishments in the national capital remained shut today despite Government's assurance that there will be no harassment by excise officials. 

Some jewellers kept their shops shut in Mumbai as well. 

All India Sarafa Association Vice-President Surinder Kumar Jain said the strike in the national capital will go on for an indefinite period until the government rolls back the proposed excise duty. 

Jewellers, bullion traders and artisans are organising 'dharna' at Chandni Chowk here to intensify the agitation, he added.