Govt permits 16k-odd jewellers to sell 'declared' old gold hallmarked stock till June-end
As per the notification, the ministry has amended the Hallmarking of Gold Jewellery and Gold Artefacts Order, 2020 and allowed only those jewellers who declared their old stock -- having an old hallmarking mark -- to clear those articles before June 30, 2023.
Oil down marginally amid uncertainty over imminent US economic data
Producers have shut in or reduced output at several oilfields in the semi-autonomous Kurdistan region of northern Iraq following a halt to the northern export pipeline. More outages are on the horizon.
Govt hikes raw jute MSP by Rs 300 to Rs 5,050 per quintal
The announced MSP of raw jute for 2023-24 season is in line with the principle of fixing the MSP at a level of at least 1.5 times all India weighted average cost of production as announced by the government in the Budget 2018-19, an official release said.
How The Global Banking Crisis & Recession Fears Led To A Decline In Crude Oil Prices | Explained
Crude oil prices are trading near 15-month lows, with a nearly 13% decline in 2023 so far. Until now, oil markets were volatile due to the constant churn in the global geopolitical situation - but now, even financial dynamics are impacting the oil market, with 3 global banks getting into trouble one after the other. But, what exactly is the link between the global banking crisis & the fall in crude oil prices? Watch to find out!
Icra revises domestic steel demand outlook to 8% for FY24
Earlier, the ratings agency had estimated the demand to grow in the range of 6-7 per cent.
Strong case to hike coal prices, could happen very soon: CIL chairman
Elaborating on the 1 billion tonne production target, Coal India Chairman Pramod Agrawal said though CIL is on course to achieve the same by 2025-26, it will depend on factors like the need of the country and the growth of the private sector.
Oil prices rise then dive to 15-month lows on bank fears
Oil prices took a dive on Friday, reversing early gains of more than $1 a barrel and falling by more than $3, as banking sector fears set crude on course for its biggest weekly decline in months.
Gold climbs Rs 400; silver tumbles Rs 430
In the overseas markets, gold was quoting higher at $1,928 per ounce while silver was down at $21.87 per ounce.
Iran seeks resumption of crude oil import by India, pitches for faster implementation of Chabahar project
Citing India's resistance against pressure to not buy oil from Russia, Iranian Ambassador Iraj Elahi hoped that New Delhi would soon start importing oil from Iran too.
Oil gains reverse on banking sector fragility
Brent crude futures fell by 76 cents, or 1.02%, to $73.94 a barrel by 1322 GMT. U.S. West Texas Intermediate crude was down 52 cents, or 0.76%, at $67.83.
CAI further reduces cotton crop estimate to 313 lakh bales for 2022-23 season
The total cotton production in the last season is estimated at 307.05 lakh bales, the CAI said in a statement.
Crude slides deeper as Fed watchers wait for US inflation data
Crude has had a bumpy year as traders juggle concerns over a global economic slowdown and optimism around China’s demand rebound after the nation ended Covid Zero
Centre directs Nafed, NCCF to procure red onion from farmers amid price crash
National Agricultural Cooperative Marketing Federation of India Limited (Nafed) and National Consumers Cooperative Federation of India Limited (NCCF) have also been directed to simultaneously sell the procured onions in the consumption centres.
Govt plans to make hallmarking of gold bullion mandatory: BIS chief
Hallmarking -- a quality certification -- has been made mandatory with effect from July 1, 2022 for gold jewellery (14, 18, and 22 carat) and artifacts in 288 districts of the country.
Sale of gold jewellery and gold artefacts hallmarked without six-digit code to be banned from April 1
Gold hallmarking is a purity certification of the precious metal. It was voluntary in nature till June 16, 2021.
Dalmia Cement (Bharat) bags coal mine in Madhya Pradesh
Of the 10 mines put on auction on the first day, Shree Cement made the highest bid for a coal mine in Chhattisgarh.
Oil steadies as investors await US Fed Reserve comments
Brent crude futures for April delivery were up 2 cents to $83.07 a barrel by 0242 GMT after falling 1.2% on Tuesday. West Texas Intermediate (WTI) crude futures for April were down a cent to $76.35 a barrel.
Govt may auction 6 mineral blocks in February
The four iron ore blocks, situated in Chhattisgarh, are likely to be auctioned on Tuesday, according to the mines ministry.
Govt further cuts reserve price of FCI wheat to Rs 2,150 per quintal for bulk users to check prices
According to the food ministry, the reserve price of fair and average quality (FAQ) wheat has been reduced to Rs 2,150 while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal.
Northern Coalfields eyes removal of 410 million cubic metres of overburden materials from its coal mines in FY23
Northern Coalfields Ltd (NCL) has so far removed 400.56 M CuM OB with remarkable year-on-year growth of 28.30 per cent, the company said in a statement.
Gold steadies on dollar pullback; Fed rate-hike worries weigh
Spot gold was little changed at $1,836.39 per ounce by 1322 GMT, after hitting its lowest level since early January on Wednesday. U.S. gold futures rose 0.2% to $1,848.20.
Oil drops on huge US stock build; demand outlook limits losses
Brent futures fell $1.35, or 1.6 percent, to $84.23 a barrel by 11:11 a.m. EST (1611 GMT), while U.S. West Texas Intermediate crude (WTI) fell $1.46, or 1.9 percent, to $77.60.
Gold hits over 1-month low as dollar strengthens on rate-hike bets
Spot gold fell 1.14 percent to $1,833.20 per ounce by 10:30 a.m. ET(1530 GMT). US gold futures were down one percent to $1,846.00.
ReNew to explore investment opportunities in hydrogen segment: Chairman Sumant Sinha
Chairman Sumant Sinha made the remarks on the sidelines of an event organised in the national capital for re-branding his company ReNew Power as ReNew.
