Gold Current Affairs, GK & News

GoM approves e-way bill for intra-state gold movement

The Group of Finance Ministers has approved bringing the intra-state movement of gold within the ambit of the e-Way bill. However, the panel of ministers has left the final decision to introduce it or not to the individual states as they would be the correct authority to take a call regarding this. What is an ..

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NSE launches refiner standards for BIS standard Gold

On July 10, 2020, the National Stock Exchange (NSE) launched NSE refiner Standards for BIS Standard Gold. Highlights Under the new standards, NSE will accept gold bars produced by Indian manufacturers. Till date, NSE accepted only gold bars that were serially numbered by London Bullion Market Association. Significance The inclusion of domestic manufacturers will increase ..

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World Gold Council Report: 37% of Indian Women never bought gold

On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery. Highlights The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees. Around ..

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Indonesia’s Gold Mining

9 people were killed in an illegal gold mine in West Sumatra province of Indonesia due to landslides. Gold in Indonesia Indonesia accounts for about 4% of global gold production. Half of this comes from the Grasberg Mine. The country’s largest gold mines are located in Papua, Sumbawa, East Kalimantan and Central Kalimantan. The gold ..

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Gold Imports of 2019-20 dip by 8.86% narrowing Current Account Deficit to 143 billion USD

On March 16, 2020, the Commerce Ministry reported that the gold imports for the period April to February (2019-20) has reduced by 8.86% as compared to the previous year. Highlights India is the largest importer of gold in the world. As the gold imports of the country have been reduced, the trade deficit has reduced ..

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