Gold

What is HUID Number?

Hallmark Unique Identification (HUID) number is a unique 6-digit alphanumeric code consisting of numbers and letters. It is stamped manually on a piece of jewellery at the Assaying & Hallmarking centres. It ensures the purity and fitness of gold via ..

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GoM approves e-way bill for intra-state gold movement

The Group of Finance Ministers has approved bringing the intra-state movement of gold within the ambit of the e-Way bill. However, the panel of ministers has left the final decision to introduce it or not to the individual states as ..

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NSE launches refiner standards for BIS standard Gold

On July 10, 2020, the National Stock Exchange (NSE) launched NSE refiner Standards for BIS Standard Gold. Highlights Under the new standards, NSE will accept gold bars produced by Indian manufacturers. Till date, NSE accepted only gold bars that were ..

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World Gold Council Report: 37% of Indian Women never bought gold

On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery. Highlights The report says that gold jewellery was the second ..

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Indonesia’s Gold Mining

9 people were killed in an illegal gold mine in West Sumatra province of Indonesia due to landslides. Gold in Indonesia Indonesia accounts for about 4% of global gold production. Half of this comes from the Grasberg Mine. The country’s ..

Gold Imports of 2019-20 dip by 8.86% narrowing Current Account Deficit to 143 billion USD

On March 16, 2020, the Commerce Ministry reported that the gold imports for the period April to February (2019-20) has reduced by 8.86% as compared to the previous year. Highlights India is the largest importer of gold in the world. ..

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The Yanomami People

The ‘Dalai Lama of the Rainforest’ Davi Kopenawa of the Yanomami tribe called for world support to bring pressure on the Brazilian government to save the Amazonian forests. The Yanomami People The Yanomami tribe is a group of indigenous people ..

Corona Virus hits Diamond Industry of Surat greatly

Workers in Diamond Industry of India, especially in the parts of Surat have been facing job losses and pay cuts as Corona Virus has hit exports to China. China is the biggest market of precious stones and since February China ..

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World Gold Council report: RBI ranks 6th in buying gold abroad

The World Gold Council (WGC) recently released its report, “World Gold Outlook 2020”. The report says that gold has performed the best since 2010 in 2019. In 2019, the gold trade in USD has increased by 18.4% as compared to ..

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New Rules to sell hallmarked gold Artifacts

On January 14, 2020, the GoI announced that Indian jewellers shall be allowed to sell hallmarked gold artifacts that are made of 14, 18 and 22 carat gold alone. Also, it is mandatory for all jewellers to get compulsory hallmark. ..

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