India's largest gold refiner says freeing up the gold import business is simply not going to happen because of economic realities.
India's customs department seized 52 times more smuggled gold last year than in 2012.
Canada invited this week Coal India ltd., the world’s largest coal miner to explore mining opportunities in the country.
The price of the soil nutrient is down 25% in a year.
Premiums over the London gold price have shot up since reaching a low of $20 mid-March indicating demand inside the country remains strong.
The price is also about 25% below what India paid last year to the now defunct Belarusian Potash Co., which Uralkali owned jointly at the time with Belaruskali.
But value of exports still down nearly 50% over the past 11 months due to domestic scarcity of the yellow metal.
Triggered mainly by India’s renewed appetite for silver.
Due to slump on prices for the steel-making material.
Since last August, the Indian government placed a stranglehold on gold imports into the country by requiring that 20% of all gold imported be exported as jewellery.
Gold price hones in on 2014 high after surprisingly strong economic news from India creates opportunity for the government to lift gold import curbs.
He has been working with Vedanta since September as chairman of Vedanta Resources Holding, a subsidiary of the Indian resources group.
The government's ability to hold off imports in the long term is questionable.
Government official tells the Wall Street Journal gold import duty would be cut to between 6% and 8% from the current 10% before the end of February.
There are still over 14 million tonnes lying at various jetties since September 2012.
The precarious conditions gold miners face daily have forced them to demand a swiftly approval of regulations.
The second largest economy is poised to grab the title of world's top gold buyer from India
Global diamond trade is being used to launder illegal funds worth millions of dollars, claims polemic study.
While many emerging markets are teetering right now, noted economist Nouriel Roubini says chance of a fully-fledged crisis is low.
The Year of the Snake, associated with laziness and evil, wasn't as good for Lunar New Year gold ornament sales as the Horse which connotes health and energy.
The gold price is up five weeks in a row as safe haven buying returns amid carnage on stock, bond and currency markets.
If India lifts its gold import curbs it could unleash massive pent up demand on the sub-continent.
Recently approved law allows large-scale mining, but locals oppose the project and demand plebiscite to settle the issue.
Iron ore and coking coal prices hover at 6-month lows on Wednesday as Chinese steel prices approach record lows and forecasts for output growth are slashed.
Financial documents of non-resident Indians traveling to India are being scrutinized in order to see if they're being paid by gold traders to bring in the goods.
The gold price in 2014 will be a tale of two halves.
Get Mining News and Alerts
sent to your inbox daily