Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore.
Shiekha Sana, a certified gemologist, founded Sana Al Maktoum Fine Jewellery in 2020 when she was only 21. Her vision is to create beautiful, high-quality jewellery pieces, which empower women to look and feel their very best.
The court also decided to punish each of the four defendants (PPL, GPL, KCRS, GBA) with a five-year imprisonment term and a fine of Dhs10m and deportation.
India’s foreign exchange reserves rose by $4.483 billion during the week ending Jan.1. According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $585.324 billion from $580.841 billion reported for the week ended December 25.
The year 2021 is likely to add to the shine of the gold as consumer demand which has largely been subdued amid the pandemic may rise on the back of economic recovery of the emerging markets, said a report by the World Gold Council (WGC).
After receiving the report of a robbery at a house police initiated an investigation and nabbed the first suspect, who later lead police to the whereabouts of the other 8 suspects.
The low base effect powered India’s merchandise exports to grow by over 195 per cent on year-on-year basis last month. In April 2021, exports grew to $30.63 billion, higher by 195.72 per cent over the $10.36 billion reported in April 2020.
Physical gold demand in second-biggest bullion consumer India was negligible this week with most jewellery stores still shut by COVID-19 lockdowns, forcing dealers to offer steep discounts.
Indian gold dealers offered the biggest discounts in 8-1/2 months this week as COVID-19-related restrictions stifled consumption, while top consumer China flipped to a discount for the first time since late January.