Gold

New Delhi: Customs officials have seized 4.33 kg gold worth Rs 1.43 crore at the Anna International Airport from more than a dozen persons between Thursday night and Friday morning. On Friday morning, eleven different persons who had come from Colombo and Kualumpur and Dubai were intercepted by the officials of the Air Intelligence unit at the exit gate of the arrival hall. "On examination, they were found to have concealed gold in rubbery materials in their rectum. On extraction, 3.15 kg gold of 24 Karat purity valued at Rs 1.04 crore was recovered and seized," said the Customs department in a press release. On Thursday night, on specific intelligence inputs, Customs officials intercepted four passengers who had arrived from Colombo and were found carrying gold in rubbery material concealed in their rectum.  The Customs informed that on extraction, 1.18 kg gold of 24 Karat purity valued at Rs Rs 39.15 lakh were seized. Further investigation is under progress.  … [Read more...] about Customs seized 4.33 kg gold worth Rs 1.43 cr at Chennai airport

Gold prices fell ₹95 to ₹38,460 per 10 gram in the national capital on December 10 due to weak demand and a stronger rupee, according to HDFC Securities.The yellow metal had closed at ₹38,555 per 10 gram in the previous session.“Spot gold for 24 karat in Delhi was trading down by ₹95 on a stronger rupee and weak spot demand. The spot rupee was trading around 15 paise stronger against the dollar during the day,” HDFC Securities Senior Analyst (Commodities) Tapan Patel said.Taking cues from gold, silver also fell ₹128 to ₹44,607 per kg from ₹44,735 per kg on December 9.In the international market, gold was trading at $1,463 per ounce, while silver was quoting at $16.62 per ounce.“Gold witnessed selling on expectations of initial trade deal between the US and China before December 15 deadline of new U.S. tariffs,” Mr. Patel said. … [Read more...] about Gold slips by ₹95 on stronger rupee, weak demand

The Olympics have not even begun. Yet doping is already on the front pages. The Indian wrestler Narsingh Yadav and shot putter Inderjeet Singh have tested positive for banned substances. And the entire Russian track and field team might be barred from competing in Rio. To MM Somaya, the 1980 Olympic hockey gold medallist, the extent and sophistication of the steroid problem is incomprehensible. Doping existed in the 1980s, the 57-year-old former Indian captain says, but was not as advanced. “There used to be tests at that time too,” Somaya said at a function in Mumbai to mark the 50th anniversary of the Sports Journalists Association of Mumbai (SJAM). “But we did not imagine that things would get so complicated, with masking agents and so on.” MM Somaya This event was held before Narsingh and Inderjeet’s test results were known. Somaya, executive director (aviation), BPCL, was in no position to comment on them. But he did reminisce about his Olympic … [Read more...] about Never imagined doping in sport would become so advanced: M M Somaya, 1980 Olympic hockey gold medallist

New Delhi: Gold prices rose by Rs 300 to Rs 33,870 per 10 gram in the bullion market here Friday on fresh buying by jewellers and a firm trend overseas, according to the All India Sarafa Association. Tracking gold, silver also surged by Rs 550 to Rs 38,400 per kg on increased offtake by industrial units and coin makers. Sentiment in the domestic market was upbeat on the back of increased buying by jewellers and a firming trend in global markets, bullion traders said. "Spot gold rose to USD 1,358 an ounce in the international market, its highest level since April 2018. Geopolitical concerns especially from the Middle East and feeble economic releases from China and the US raised the metal's safe-haven demand. "Weak global growth forecast amid growing trade war tensions and hopes of US interest rate cut stoked investors towards the yellow metal. Gold usually trades higher during times of economic or political uncertainties," said Hareesh V, Head-Commodity Research, Geojit Financial … [Read more...] about Gold surges Rs 300 on fresh buying, strong global trend

New Delhi: Gold prices Thursday surged by Rs 280 to cross Rs 34,000-mark in the national capital on strong global sentiment and fresh buying from local jewellers, according to All India Sarafa Association. The prices of yellow metal rose to Rs 34,020 per ten gram. Tracking gold, silver too increased by Rs 710 to Rs 39,060 per kg on increased offtake by industrial units and coin makers. Traders said apart from increased buying from jewellers, robust global trends where the precious metal surged to a five-year high also pushed the prices higher. Globally, gold was trading higher at USD 1,385.54 an ounce in New York, while silver was up at USD 15.35 per ounce. "Spot gold jumped to a five-year high of USD 1,386 an ounce on hopes that the US Federal Reserve would cut interest rates later this year. In the latest Fed policy meeting, the US central bank hinted an interest rate cut if the economic outlook weakens. "Gold has been trading on a positive note for the last four weeks on growing … [Read more...] about Gold prices zoom Rs 280, crosses Rs 34,000 mark