National News
MCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
Ongoing Movements In Foreign Exchange Markets Remain A Central Factor For Domestic Indian Buyers Assessing MCX Pricing.
Bullion prices recorded gains on the Multi Commodity Exchange (MCX) during morning trade on Monday, following positive momentum in global precious metal markets.
​At 09:50 IST, MCX December gold futures were up 0.24% at Rs 1,48,000 per 10 grams. Concurrently, MCX December silver futures climbed 0.43% to trade at Rs 2,12,000 per kilogram.
​In overseas trade, spot gold gained 0.3% to reach $4,175.60 per ounce, while spot silver surged 0.9% to $57.54 per ounce, according to market data.
​Key Drivers Impacting Bullion Trends:
​Easing Inflation Concerns: Softer international crude oil prices helped mitigate immediate global inflation fears.
​Federal Reserve Expectations: Investor outlook regarding US interest rate trajectories continues to weigh on non-yielding asset demand.
​Currency Fluctuations: Ongoing movements in foreign exchange markets remain a central factor for domestic Indian buyers assessing MCX pricing.
​Market analysts advise domestic buyers and retail investors to continue monitoring US monetary policy signals, geopolitical developments, and currency trends as key determinants for precious metal price movements in the near term.
National News
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Lower Tax Refunds Will Make Indian Gold and Silver Jewellery Exports More Expensive In The Global Market.
The Indian government has reduced the duty drawback rates—the tax refunds given to exporters for duties paid on imported raw materials—for gold and silver jewellery exports.
​Gold Jewellery: The refund rate has been cut by 3.1%, dropping from Rs 1,851.99 to Rs 1,794.11 per gram.
​Silver Jewellery & Articles: The refund rate has been cut by about 9%, dropping from Rs 29,501.09 to Rs 26,859.02 per kilogram.
Back in July, the government nearly doubled these refund rates to support exporters against rising global costs. However, because gold and silver prices have since fallen—reducing the actual import duty paid in real terms—the government adjusted the drawback rates downward to match current market conditions.
​Impact: Lower tax refunds will make Indian gold and silver jewellery exports more expensive in the global market.
De Beers Returns To IDE After Nine Years
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
MCX Bullion Futures Rise On Positive Momentum In Global Precious Metal Markets.
Global Gold Exports To Get Boost With New GIFT City Sourcing Rules
The Government Reduces Duty Drawback Rate For Gold, Silver Jewellery Exports.
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National News44 minutes agoGlobal Gold Exports To Get Boost With New GIFT City Sourcing Rules
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