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Commodity

Iran says it has enough oil for 150 years

Tehran : Iran has enough petroleum to last for 150 years, allowing it to be one of the world’s main exporters of crude, Petroleum Minister Rostam Ghasemi told the Fars news agency Sunday. “The country has petroleum reserves for about 150 years and during that time … it can be one of the principal exporters […]

Commodity

Crude down in Asia on US energy demand concerns

Oil fell in Asia on Thursday on demand concerns after US data showed a sharper-than-expected rise in crude inventories in the past week, analysts said. New York’s main contract, light sweet crude for delivery in November shed 10 cents to USD 92.02 a barrel and Brent North Sea crude for December delivery retreated two cents […]

Commodity

Gold zooms above Rs 32k-level on strong marriage season demand

Mumbai : Gold on Thursday crossed the coveted Rs 32,000-mark for the first time in the national capital, driven by increased buying by stockists ahead of the marriage season amid a firming global trend. The precious metal gained Rs 320 to Rs 32,300 per 10 grams. It has gained by Rs 1,555 per 10 grams […]

Commodity

WGC projects dip in demand for gold in India

Mumbai : The demand of Gold in India can drop by around 33 percent at about 700 tonne this year due to weak consumer sentiments. World Gold Council, WGC said that record high local prices and rising inflation following concerns over weak monsoon are reasons behind the projected decline. The WGC, however, said that the […]

Commodity

Gold slips by Rs 10, silver gains Rs 50

Mumbai : After a six-day rally, gold prices declined marginally by Rs 10 to Rs 30,300 per 10 grams in the bullion market on Friday on fall in demand, while silver rose by Rs 50 to Rs 53,100 per kg on buying support. Traders said gold fell due to reduced offtake at existing higher levels, […]

Commodity

Gold hits all-time high of 29,590

Mumbai : Gold rose 50 rupees, to touch an all-time high of 29,590 rupees per ten grams at Delhi’s bullion market, today, on brisk buying by stockists and jewellers to meet the marriage season demand, amid a firm global trend. Gold has gained 650 rupees in the last eight trading sessions. Silver rose 400 rupees, […]

Commodity

Gold gains in Delhi bullion market; falls in London

Gold gained 25 rupees, to 28,515 rupees per ten grams at Delhi’s bullion market today. Silver rose 200 rupees, to 56,700 ruopes per kilo on rising demand from industrial units. But in London, gold fell 0.7 per cent, to 1,717 dollars an ounce.

Commodity

Oil higher on hopes of stronger demand, Greek deal

Crude prices were higher in Asian trade on Wednesday as traders reacted to a forecast that global oil demand is set to grow and hopes of a Greek debt deal, analysts said. New York’s main contract, West Texas Intermediate (WTI) light sweet crude for delivery in March, gained 43 cents to USD 98.84 a barrel […]

Commodity

Rupee up 22 paise at 52.73 against dollar

The rupee gained 22 paise to 52 rupees 73 paise per dollar in early trade on the Interbank Foreign Exchange today on selling of the US currency by some banks and exporters. However, a lower opening in the equity market restricted the rupee gains.

Commodity

Govt makes hallmarking of gold compulsory

To protect consumers from unscrupulous jewellers, the government on Wednesday approved a proposal making hallmarking of gold mandatory. The hallmarking of gold, which is voluntary in nature at present, is a purity certification of the precious metal. The Bureau of Indian Standards (BIS), under the Consumer Affairs Ministry, is the administrative authority of hallmarking. The […]