National News
Gold discounts in India widened this week to their highest point in nearly eight months
Gold discounts in India widened this week to their highest point in nearly eight months, as a surge in prices to a record high dampened demand, while customers in other key hubs also remained on the sidelines. Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6 per cent import and 3 per cent sales levies, up from a discount of $10 to $21 last week.
Indian dealers this week offered a discount of up to $39 an ounce over official domestic prices, including 6% import and 3% sales levies, up from a discount of $10 to $21 last week.
“Jewellers are not keen on building high-cost inventory at the end of the financial year, as they are busy closing accounts,” said a Mumbai-based dealer with a bullion-importing bank. India’s financial year runs from April until March 31.
India’s gold imports are set to tumble 85% in February from year-ago levels, reaching their lowest levels in 20 years, as demand is dampened by record-high bullion prices.
In China, the world’s largest consumer, gold traded at a discount of $1 to an $18 premium over spot prices. Meanwhile, dealers in Hong Kong charged premiums ranging from par to $2 per ounce.In Japan, bullion was sold between a discount of $3 and a premium of $0.5, a trader said. In Singapore, gold traded between a $0.50 discount and a $3 premium
National News
GJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated
BIS Care App That Exposed The Name and Addresses Of Jewellers While Verifying HUID Details .
The All India Gem and Jewellery Domestic Council (GJC) has successfully intervened following a technical anomaly on the BIS Care App that exposed the name and addresses of jewellers while verifying HUID details .
Over the past few days, the BIS Care App was found to be displaying the names and addresses of individual jewellers during routine Hallmark Unique Identification (HUID) verifications. Recognizing the privacy implications for its members, GJC immediately escalated the matter to the highest appropriate levels within the Bureau of Indian Standards (BIS).
Upon receiving GJC’s representations, BIS officials acknowledged the discrepancy. The Bureau clarified that such operational details are strictly intended to be visible only for corporate jewellers who have voluntarily opted into the ‘Transfer HUID’ module under the current BIS framework. The data exposure was not intended for general registered jewellers.
GJC has been assured that BIS has escalated the issue internally. Corrective measures are currently being initiated on a priority basis, and the technical glitch is expected to be fully resolved at the earliest.
GJC remains fiercely committed to safeguarding the interests of the domestic jewellery trade the Council stated, reaffirming its dedication to ensuring that members’ operational concerns are promptly and effectively represented before regulatory authorities.
-
National News7 hours agoGJC Addresses HUID Data Exposure Issue With BIS, Corrective Measures Are Currently Being Initiated
-
JB Insights7 hours agoIndia’s ₹361 Lakh Crore Gold Reserve Lies Idle; PM Modi Calls For Recycling To Cut Imports
-
International News6 hours agoWGC Central Bank Gold Statistics: Central Banks Resume Net Buying In April
-
International News8 hours agoVerlas Explores What A Dream Ring Cut Really Reveals About Her

