It’s good news for jewellers and customers as the government has rolled back its budget decision to apply 1 percent tax on cash purchase of gold jewellery. The jewellers had earlier been on a 45-day strike after Finance Minister Arun Jaitley in his Budget speech in February proposed 1 percent excise tax on non-silver jewellery. … Read More →
This year, Akshay Tritiya, witnessed around 10-15 per cent sales of gold across the country, giving little bit of relief to the industry after a lull period due to over a month long strike. Due to the strike, jewellers also missed on Gudi Padwa sales.A lot of factors were responsible to the muted response to … Read More →
China’s gold output increased to 111.56 tonnes in the first quarter of 2016, up 0.78 percent year-on-year, latest statistics from the China Gold Association revealed. As of March 31, 2016, the nation’s gold reserves reached 1,797.5 tonnes. The increase in output was due to a rebound in international gold prices following the easing of major currencies … Read More →
UAE-based Pure Gold Group will invest AED 1.2 billion (approximately US$400 million) to expand its regional operations over the next decade. While the primary investment will be in the jewellery sector, the company will also invest AED 200 million (about US$54 million) in other sectors and in its luxury sunglasses retail chain La Moda Sunglasses, … Read More →
When walking along the beach, some objects might seem unusual because they are neither pebble nor shell nor seaweed. They can be covered with a soft white layer that looks a bit like cotton wool. They may appear hard or waxy, and sometimes have objects trapped within. And a smell that has been described as … Read More →
Major jewellers Chow Tai Fook Jewellery Group Ltd of Hong Kong and Lao Feng Xiang of China are taking part in China’s new yuan-denominated gold benchmark. The Shanghai Gold Benchmark Price Trading, to be launched on April 19 by the Shanghai Gold Exchange (SGE), will mark China’s biggest step to become a price-setter for gold. … Read More →
As jewellers strike continues against excise duty imposition, a lot of work in the city has been shifted underground to meet the lucrative wedding season demand. According to a jeweller, who requested anonymity, there is no dearth of work for workers and designers, who are busy making ornaments as demand peaks ahead of the wedding … Read More →