Samantha to do it for Prince Jewellery

Popular actress Samantha will inaugurate Ancient Secrets Antique Jewellery Exhibition and Sale of Prince Jewellery in Chennai on Friday (July 11).

The expo, which will feature arrays and arrays of antique jewels, will be on at Prince Jewellery's Cathedral Road showroom in the heart of Chennai.

The 'Neethane En Ponvasantham' and 'Naan Ee' actress will inaugurate the expo at 6.30 pm on Friday. On the occasion, she is expected to wear some beautiful jewels of Prince.

Prince Jewellery, one of the leading jewellers of Chennai, is currently in its 31st year. It has got showrooms in Bengaluru and Thiruvananthapuram. The showrooms are open on Sundays also.

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Shilpa Shetty enters gold biz

Bollywood actress Shilpa Shetty has ventured into gold business with Satyug Gold Pvt Ltd. The company has launched a new Gold plan called 'Satyug Mera Gold Plan’ (www.satyugmgp.com) in which customers can buy gold from just Rs 50 a day.


All due diligence and back office for Satyug Gold will be managed by Karvy Computers.
“It gives me great pleasure to launch the Satyug Mera Gold Plan a smart and efficient way for the people in India to buy gold in a systematic manner. Our key features are unique and we have our own consistent supply of gold direct from the mines through our own refinery in India that keeps our pricing very competitive. Along with my team we have spent days and nights in putting together a plan that is regulatory compliant, efficient and effective for the consumer. Welcome to the satyug mera gold plan.”  says CEO Raj Kundra (Shilpa Shetty's husband).

“Gold has always been an important part of our culture and a safety haven when markets become turmoil. We have seen Gold give good returns in the past years and above all is a very liquid asset. Now through my company Satyug I introduce ‘Mera Gold Plan’ making gold buying much more affordable, easier and 100% safe. I thank IDBI and Brinks for tying up with us in this innovative Gold Plan initiative and look forward to a long association”, said Shilpa Shetty Kundra, the company's chairperson.

“We are associated with Satyug Gold Private Limited as Trustees,” said Subrat Udgata, VP, IDBI Trusteeship Services Limited “We are pleased to be associated as a strong front office and back office service provider for Satyug Gold. We believe that our pan India network coupled with a strong technology platform would help provide a high level of customer service for their investors. We wish Satyug Gold the very best”, said V Ganesh, CEO of Karvy Computershare Pvt Ltd.


Satyug Mera Gold Plan (SMGP) is offered by Satyug Gold Pvt. Ltd. (SGPL) a Shilpa Shetty Kundra venture, to enable systematic accumulation of gold grams by customers for their personal requirements.

SMGP enables customers to accumulate physical gold in small quantities on a monthly basis through the benefit of "Monthly Rupee Average Pricing".

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Between Chennai Gold Price and China Gold Price

Gold is something that connects all. Be it the rich or the poor, the most powerful or the commonman, scholar or illiterate, everyone loves this shining yellow metal, which can be preserved as bullion, made as ornaments and pledged at times of financial crunch.

While the primary focus of this portal is Chennai gold price, there is nothing wrong in updating our visitors about latest happenings related to gold, from all over the world.

The latest news that is making waves about gold is that, the consumption of the yellow metal in China has jumped 41 percent in 2013 to exceed 1,000 tonnes for the first time. This has been revealed by data released by an industry body on Monday (February 10).

According to figures, a sharp slide in prices attracted buyers for jewellery and bullion, which increased the gold appetite of the Dragon country, which is one of the largest markets in the world.

China's huge population and its growing economy make the country an attractive and strong market for any product or service, and gold, the favorite metal of the Chinese, is no exception to this.

In its website, the China Gold Association said gold consumption in the country grew to 1,176.40 tonnes last year, with jewellery demand climbing 43 per cent to 716.50 tonnes and bullion demand soaring 57 percent to 375.73 tonnes.

Chinese demand hit a record as gold prices fell for the first time in 13 years amid an improving global economy and a rally in equities. Prices tumbled 28 percent in 2013.

The website of China Gold Association also indicated that China's gold output in 2013 rose 6.2 percent from the previous year to a record high 428.163 tonnes. This has made the country the world's biggest producer for a seventh year in a row.

Meanwhile, as per the latest figures on the central bank's website, China's gold consumption figures do not include demand from the central bank, whose gold reserves stand at 33.89 million ounces (1,054 tonnes), unchanged since April 2009.

Meanwhile, coming back to Chennai, the southern city of India which is known for its love towards gold, the metropolis has just witnessed a grand expo- the 10th edition of the three day mega B2B, Gem & Jewellery India International Exhibition (GJIIE 2014).

The exhibition, which started on Friday, brought all attention on Chennai gold price. The event that took place at Chennai Trade Centre in Nandambakkam concluded on Sunday.
Organisers of the grand event said the Gem & Jewellery India International Exhibition (GJIIE 2014) was a grand success and it witnessed many visitors.

Since global stakeholders camped in Chennai for this fair, Chennai gold price was under the scanner of everone. Some of the exhibitors at GJIIE 2014 were Chain and Chains (Mumbai), Derewala Jewellery (Jaipur), Mukti Gold (Mumbai), JJ Jewellers (Thrissur), Laxmi Diamonds (Bangalore), Maturshree Gold (Bangalore), Prakash Gold Palace (Chennai), Vinati Jewellwers (Hyderabad), White Fire (Chennai), Mukti Gold (Mumbai),
Deepa Jewellers (Hyderabad), RKR Gold (Coimbatore), Jewel Park (Nellore) to name a few. One can expect much more flashing of beautifully crafted metal pieces from the other exhibitors as well at GJIIE 2014.
Meanwhile, another latest development is that NCDEX has launched GoldHedge, which lets traders buy or sell gold at international prices. Gold Hedge is designed as an intention-matching contract where delivery occurs only when both the buyer and the seller agree in advance on the quantity and the location.
National Commodity & Derivatives Exchange Limited (NCDEX) is an online multi commodity exchange based in India. It is a public limited company incorporated on 23 April 2003 under the Companies Act, 1956.

It obtained its Certificate for Commencement of Business on 9 May 2003. It has commenced its operations on 15 December 2003. NCDEX is the only commodity exchange in the country promoted by national level institutions. This unique parentage enables it to offer a bouquet of benefits, which are currently in short supply in the commodity markets.

The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nationwide reach, technology and risk management skills. NCDEX is regulated by Forward Markets Commission (FMC) in respect of futures trading in commodities.


Besides, NCDEX is subjected to various laws of the land like the Companies Act, Stamp Act, Contracts Act, Forward Commission (Regulation) Act and various other legislations, which impinge on its working.

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Live Gold Rate in Chennai - Good news: Govt to ease gold curbs: Chidambaram’s budget and gold rate today in Chenna...

Live Gold Rate in Chennai - Good news: Govt to ease gold curbs: Chidambaram’s budget and gold rate today in Chenna...: All eyes were on India's Finance Minister P Chidambaram on Monday as he was set to make his budget presentation. Though it was an ...

Chidambaram’s budget and gold rate today in Chennai

All eyes were on India's Finance Minister P Chidambaram on Monday as he was set to make his budget presentation. Though it was an interim one since the Lok Sabha elections are fast approaching, stake holders in gold and jewellery industry were expecting some announcements from him, especially after an instruction from Congress president and UPA chairperson Sonia Gandhi to Chidambaram to ease curbs on gold imports, following which he too assured that the restrictions would be relaxed soon.

As expected, the Harvard-educated Chidambaram, who hails from the southern state of Tamil Nadu, spoke about gold. He said the government was looking into the pros and cons of easing controls on gold imports, but would not let the current account deficit balloon again.

Chidambaram predicted the current account deficit would be contained at $45 billion at the end of March, around half the level at the start of the fiscal year, thanks largely to tight restrictions on gold imports and a recovery in exports.

Since this announcement from Chidambaram was almost like maintaining status quo on the curbs, the industry is left disappointed. Gold rate today in Chennai too is largely unchanged.

The All India Gems and Jewellery Trade Federation (GJF) has expressed deep disappointment and shock at the Interim Budget.

The GJF, which is the national trade federation for the promotion and growth of trade in Gems and Jewellery (G&J) Industry across India, is disappointed at "proposals that are anti jewellery sector, depriving livelihood of millions of people engaged in the sector."

Haresh Soni, Chairman, GJF said, "It is anti-people budget impacting over three crores people as the Finance Minister ignores the plight of jewellery artisans and craftsmen. The entire Gems & Jewellery Industry is deeply disappointed and shocked at the insensitive treatment meted out to it by the Government."

He further said: "The Government seems to be inconsiderate to the plight of lakhs of families of goldsmiths and craftsmen, who are suffering due to lack of job work and thereby threatening their livelihood. The Government is also turning a blind eye to the increasing instances of gold smuggling that is not only creating a parallel economy but also threatening the security of the country due to rise in anti-social activities”, Soni said.

"Even GJF's suggestions to control CAD thrown out of window as it demanded that the 80:20 must be withdrawn and duty must be brought down to 2%. Government now should roll back the restricted policy as the Current Account Deficit has reduced substantially. Such policy reversal would also curve the growing black marketing activities in the trade.”

GJF has reiterated that the Government’s recent policies such as 80:20 scheme has resulted in high premium and monopolized business environment, destroying the organized G&J industry as well as lead to unemployment and starvation amongst the workforce.

GJF said that the Government should recognize people’s sentiments to consider gold jewellery as the best social security and also preserve the centuries old jewellery design legacy of India. If India’s artisans, craftsmen and goldsmiths don’t survive, then the country’s centuries old heritage of jewellery making will die a natural death and will be lost forever.

“We urge the Government to keep import duties on gold low to eliminate smuggling; and immediately remove the 80:20 Rule while allowing consignment gold imports to ensure fair open market controlled business. We urge the Government to keep import duties on ready finished imports moderately high to protect Indian industry, still not banning imports. Competition from overseas is important for keeping domestic jewellery manufacturing industry competitive in design and quality."

Those tracking and monitoring gold rate today in Chennai have expressed shock over the budget. "We were expecting some good announcements, especially on the removal of curbs. But we are disappointed. At least we now expect some genuine promises in the manifestos of political parties," experts tracking gold rate today in Chennai said.

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Muthoot on diversification mode

It was not long back Muthoot Group, a leading player in gold loan business, ventured into Tamil Nadu and opened shops across the State, in a bid to establish itself a pan-Indian player.

The entry of titans like Muthoot and Manappuram changed the gold and gold loan business s in Tamil Nadu, especially in Chennai.  They offered more amount to the gold, making Chennai gold rate live and attractive. Also, the interest rates are low when compared to others, which again made Chennai gold rate live.




And now, Muthoot Leisure and Hospitality Services (MLHS), the hospitality division of Muthoot Group has announced the acquisition of Costa Rica’s award winning, high-end property ‘Xandari Resort & Spa’. This is the first acquisition by an Indian hospitality company in Central America.

Based in Alajuela, Costa Rica, Xandari Resort & Spa a luxurious property becomes the first overseas acquisition by MLHS.The resort was added to MLHS group in December 2013. MLHS has also extended its collaboration with Raxa Collective to manage the property hereon.MLHS plans to spend Rs 200 crore in next two years



George M George, Executive Director, MLHS, said, “The concept of eco-friendly resorts originated in Costa-Rica and this acquisition is an expression of our belief in promoting environment-friendly projects around the world. Moreover, it is aligned to our vision of offering excellent service and hospitality to our guests, complemented by exquisite exposure to the heritage of that region. I am confident that the uniqueness of this property will appeal to global visitors and will go a long way in strengthening our business here. Having said that, India continues to be our focus market and we will announce our domestic expansion plans very soon”.

Xandari Resort & Spa is a tropical paradise of 24 individually designed villas nestled on a 40 acre plantation overlooking the Central Valley of Costa Rica. Each villa is beautifully designed and dressed up in a combination of barrel vaulted ceilings, thatch roofs, colorful walls, tile floors, original artwork by the owners, rattan chairs and traditional textiles. Adding serenity are the expansive lawns, covered by palapas. Guests are offered therapeutic spa service, set in the tropical garden with private palm-roofed gazebos, each with its own Jacuzzi and view. The resort also offers farm-fresh scrumptious cuisines for health-conscious and other guests.

Costa Rica stands as the most visited nation in the Central American region, with 2.2 million foreign visitors in 2011. International tourist receipts rose to US$2.4 billion in 2012, and the lead country of origin was the United States, followed by Nicaragua and Canada. Ecotourism draws many tourists to visit the extensive national parks and protected areas around the country.

The resort has received many recognitions and awards for its exceptional hospitality. To name a few such as, Condé Nast Platinum List (awarded for 5 consecutive years on Gold List), Top 10 Central South American Resortsorganised by Travel + Leisure; Trip Advisor Travelers Choice Winner,World Travel Award for Costa Rica’s Leading Spa Resort

MHLS owns seven properties across India and Latin America. Cardamom County, a conservation focused Resort in PeriyarTiger Reserve,Kerela; River Escapes, with a fleet of houseboats endowed with Imperial guest rooms in Alleppey, Kerela; Pampa Villa, a whispering riverfront villa in Champakkulam, Kerela; Kayal Villa, an exotic  backwater villa at Panangad, Kerela; Spice Harbour, a Boutique hotel in the Mattenchery, Kerela; Pearl Beach, a sparkling villa-resort in Mararikulum, Kerela and the most recently added, Xandari Resort & Spa, a villa-resort in Alajuela, Costa Rica.

After being one of the factors in making Chennai gold rate live and attractive, Muthoot has now started focusing on hospitality business. Meanwhile, the gold chain is expected to open more outlets in Tamil Nadu in the coming months.

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Gold: Between Chennai and China

Gold is something that connects all. Be it the rich or the poor, the most powerful or the common man, scholar or illiterate, everyone loves this shining yellow metal, which can be preserved as bullion, made as ornaments and pledged at times of financial crunch.

While the primary focus of this portal is Chennai gold price, there is nothing wrong in updating our visitors about latest happenings related to gold, from all over the world.

The latest news that is making waves about gold is that, the consumption of the yellow metal in China has jumped 41 percent in 2013 to exceed 1,000 tonnes for the first time. This has been revealed by data released by an industry body on Monday (February 10).

According to figures, a sharp slide in prices attracted buyers for jewelry and bullion, which increased the gold appetite of the Dragon country, which is one of the largest markets in the world.

China’s huge population and its growing economy make the country an attractive and strong market for any product or service, and gold, the favorites metal of the Chinese, is no exception to this.

In its website, the China Gold Association said gold consumption in the country grew to 1,176.40 tonnes last year, with jewelry demand climbing 43 per cent to 716.50 tonnes and bullion demand soaring 57 percent to 375.73 tonnes.

Chinese demand hit a record as gold prices fell for the first time in 13 years amid an improving global economy and a rally in equities. Prices tumbled 28 percent in 2013.

The website of China Gold Association also indicated that China’s gold output in 2013 rose 6.2 percent from the previous year to a record high 428.163 tonnes. This has made the country the world’s biggest producer for a seventh year in a row.

Meanwhile, as per the latest figures on the central bank’s website, China’s gold consumption figures do not include demand from the central bank, whose gold reserves stand at 33.89 million ounces (1,054 tonnes), unchanged since April 2009.

Meanwhile, coming back to Chennai, the southern city of India which is known for its love towards gold, the metropolis has just witnessed a grand expo- the 10th edition of the three day mega B2B, Gem & Jewellery India International Exhibition (GJIIE 2014).
The exhibition, which started on Friday, brought all attention on Chennai gold price. The event that took place at Chennai Trade Centre in Nandambakkam concluded on Sunday.

Organisers of the grand event said the Gem & Jewellery India International Exhibition (GJIIE 2014) was a grand success and it witnessed many visitors.

Since global stakeholders camped in Chennai for this fair, Chennai gold price was under the scanner of everyone. Some of the exhibitors at GJIIE 2014 were Chain and Chains (Mumbai), Derewala Jewellery (Jaipur), Mukti Gold (Mumbai), JJ Jewellers (Thrissur), Laxmi Diamonds (Bangalore), Maturshree Gold (Bangalore), Prakash Gold Palace (Chennai), Vinati Jewellwers (Hyderabad), White Fire (Chennai), Mukti Gold (Mumbai),
Deepa Jewellers (Hyderabad), RKR Gold (Coimbatore), Jewel Park (Nellore) to name a few. One can expect much more flashing of beautifully crafted metal pieces from the other exhibitors as well at GJIIE 2014.

Meanwhile, another latest development is that NCDEX has launched Gold Hedge, which lets traders buy or sell gold at international prices. Gold Hedge is designed as an intention-matching contract where delivery occurs only when both the buyer and the seller agree in advance on the quantity and the location.

National Commodity & Derivatives Exchange Limited (NCDEX) is an online multi commodity exchange based in India. It is a public limited company incorporated on 23 April 2003 under the Companies Act, 1956.
It obtained its Certificate for Commencement of Business on 9 May 2003. It has commenced its operations on 15 December 2003. NCDEX is the only commodity exchange in the country promoted by national level institutions. This unique parentage enables it to offer a bouquet of benefits, which are currently in short supply in the commodity markets.

The institutional promoters and shareholders of NCDEX are prominent players in their respective fields and bring with them institutional building experience, trust, nationwide reach, technology and risk management skills. NCDEX is regulated by Forward Markets Commission (FMC) in respect of futures trading in commodities.

Besides, NCDEX is subjected to various laws of the land like the Companies Act, Stamp Act, Contracts Act, Forward Commission (Regulation) Act and various other legislations, which impinge on its working.

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Is this right time to invest in gold?

With prices running to three-month high and nearing $1,300 an ounce, a fresh guessing game is on as to whether this is right time to invest in gold or not?

Indians in general and south Indians in particular are known for their love towards the precious yellow metal, which is being used as an inevitable object in weddings and other functions, in the form of jewellery.

The reason behind the prominence of gold among the hearts of the people is that it is being viewed as a solid investment option for centuries. Also at times of financial crunch, gold jewels can be pledged.

“All these things, apart from the beauty of gold ornaments, have made people go crazy for gold.  For those in Tamil Nadu, Chennai is the ultimate destination for gold purchase, and hence, gold rate in Chennai always hogged attention,” says M B Kumar, an analyst.

When asked whether this is right time to invest in gold, he said, “Certainly yes. Many jewelers have announced gold investment schemes, making gold rate in Chennai very attractive. This is right time for investors to make right investments in gold.”

He however added: “But people should exercise enough caution before investing in gold schemes. They should check the credibility of the company providing the offer, they should read the terms and conditions well and also, they should check with their friends and relatives, and if possible, with investment advisors.”

“Just because jewelers have made gold rate in Chennai attractive, people should not rush and invest in gold. They should be wise enough,” he said, recalling that many companies cheated investors in the late 1990s.

“During that time, people made a mad rush to jewellers and invested their hard earned money. They were lured by tall promises made by jewellers who offered attractive returns to the investments. But things did not last for long and people were cheated soon,” the analyst further said.

Another insider who had a chat with us said that India and China are two leading countries in the world when it comes to consumption of gold. “However, China is overtaking India of late, as the trade in India is under intense pressure due to various restrictions leveled by the government on gold imports.”

Citing facts and figures, he said that the recent restrictions by the government of India and Reserve Bank of India have brought down gold imports drastically, there by putting the industry under intense pressure.

“Jewellers are struggling to get gold. Moreover, these restricts by the government has fuelled smugglings. Latest figures show smuggling of gold has increased in India,” he added. He said that if the government removes the curbs, India can beat China in the trade.

It is to be noted that latest statistics released by China Gold Association revealed that the dragon country’s gold consumption for the first time exceeded 1,000 tons to reach 1,176.4 tons in 2013, a year on year increase of 41.4 percent. The gold consumption in 2012 was 832.2 tons, a year on year increase of 9.4 percent.

“While China’s gold consumption is increasing year after year, it is sad that the gold imports in India have come down drastically. This is going to have a big negative impact in the business in 2014,” he said.

However, he continued to maintain that gold is still a good investment option for people. “There is nothing like gold to invest. It is safe, reliable and it can be converted into cash anytime,” he said, reassuring gold lovers that all hopes are not lost.

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Gold Price Chennai - All about Chennai Jem and Jewellery

The stage is set for the 10th edition of the three day mega B2B, Gem & Jewellery India International Exhibition (GJIIE 2014), which will be held at Chennai Trade Centre between February 8 - 10.

At a time when gold price Chennai has turned attractive due to various factors, GJIIE 2014, organized by The Madras Jewellers and Diamond Merchants Association India (MJDMA) in association with UBM India, is poised to raise benchmarks and fuel trade for the jewellery industry in India.

A unique feature of the 10th edition of GJIIE 2014 is 'The Golden Hand Award'. This is to honour and recognize the unspoken heroes of the jewellery trade - the traditional 'kaarigars', who painstakingly create beautiful pieces through their craftsmanship.

"South India is the country's major consumer of gold and the biggest market for jewellery of all types. In addition to Mumbai and Delhi and potential 2 and 3 tier cities in India, the exhibition is expected to have representation from Andaman, Singapore, Malaysia, Qatar, Dubai & Saudi, thus substantiating the international reach and presence of GJIIE 2014," say organizers.

Since global stakeholders are set to camp in Chennai for this far, gold price Chennai will be under scanner by everone. Some of the exhibitors at GJIIE 2014 are Chain and Chains (Mumbai), Derewala Jewellery (Jaipur), Mukti Gold (Mumbai), JJ Jewellers (Thrissur), Laxmi Diamonds (Bangalore), Maturshree Gold (Bangalore), Prakash Gold Palace (Chennai), Vinati Jewellwers (Hyderabad), White Fire (Chennai), Mukti Gold (Mumbai), Deepa Jewellers (Hyderabad), RKR Gold (Coimbatore), Jewel Park (Nellore) to name a few. One can expect much more flashing of beautifully crafted metal pieces from the other exhibitors as well at GJIIE 2014.

Joji George, Managing Director, UBM India said, "India is one of the world's largest and fastest growing gem and jewellery markets and South India is country's major consumer of gold and jewellery. Owing to the ever increasing domestic and international demand, the industry needs a platform which can tap this potential and in turn drive commerce. It's been a constant endeavor of UBM India to provide such a platform to the manufacturers and retailers of this segment, to connect and create business, thus meeting the larger industry needs. UBM India, in association with Madras Jewellers and Diamond Merchants' Association, is proud to host the 10th edition of Gem & Jewellery India International Exhibition in Chennai."

Rajesh Vummidi, Chairman, GJIIE said, "Being the leading B2B International Jewellery Exhibition for the South Indian market, GJIIE 2014 will provide the desired platform for buyers of Gold, Gems, Diamonds, Pearls and Silver Jewellery, precious and semi-precious stone jewellery to boost business and also scout for optimum resources in the industry like machine tools, packaging, etc. The machinery section will feature products like weighing scale machines, display packaging, hand tools, cutting and polishing machinery, diamond testing lab and ancillaries, give an opportunity to the local manufacturers and artisans to improve and upgrade their skills. GJIIE is a platform for the trade, which will bring all the parties on a single platform in the chain, where the jewellery is converted from raw gold to all the dainty designs and brings out beautiful ornaments. With the gold prices are at the highest the Jewellers are looking for lighter weight items and with the latest designs and with lowest prices."

"The GJIIE 2014 will be marked by Buyer-Seller Meets, Networking and exclusive Exhibitor Promotions. An added attraction for the visitors will be the technical seminars on new technologies being used worldwide and fashion show for exhibitors to showcase their latest designs. Thus GJIIE 2014 will not only provide the manufacturers, importers, exporters, wholesalers and retailers, a bustling trade platform but also an unmatched networking platform, a forum for exchange of knowledge and ideas, with a dash of glitz and glamour," adds Jayantilal Challani, President, MJDMA.

All these factors, when added together, are sure to make gold price Chennai more attractive and competitive.

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Chennai gold price - Gold dore import norms relaxed

Even as Chennai gold price witnessed some attractive offers thanks to New Year sale by leading jewellers, there is more good news from the Reserve Bank of India.

For, the country's apex bank has partly eased restrictions on import of gold dore. The central bank has allowed refineries to import 15 per cent of their gross annual requirement in first two months and remaining as per export performance.

In a communication to banks, RBI said, "Refineries are allowed to import dore up to 15 per cent of their gross average viable quantity based on their license entitlement in the first two months for making this available to the exporters on First in First out (FIFO) basis."

"Subsequent to this, the quantum of gold dore to be imported should be determined lot-wise on the basis of export performance," added the communication. The statement from RBI said further: "The dore so imported shall be refined and shall be released based on FIFO basis following 20:80 principle".

This announcement from the apex bank has given cheer to those in the trade and traders in the south feel that Chennai gold price will come down further thanks to the movie. "The benefit will be passed on to customers and they will be all the more happy if Chennai gold price is reduced," says a trader at T Nagar, the shopping hub of the capital city of Tamil Nadu.

There were lot of representations from the industry to the Central government and the Reserve Bank of India, following which the norms for dore have been relaxed.

Meanwhile, the Bombay Bullion Association has said that, gold jewellery imports have surged suddenly to over 20 tonnes in the October-December period of 2013.This, according to the association, is because of import curbs on gold bars and coins by the government of India. According to the Association's past-president Suresh Hundia, "For the first time, gold jewellery imports have picked up suddenly this year. Total imports are estimated to be more than 20 tonnes in October-December of 2013."

Suresh Hundia further stated that jewellery makers are facing shortage as recent curbs have made bullion imports difficult. They have resorted to jewellery imports to meet domestic demand. In the meantime, as the new year dawned, gold prices witnessed a rise in Asia on Thursday (January 2), starting trade in the region. The trade was only started on Thursday, as markets were closed on Wednesday since January 1, the New Year Day, is a public holiday in India.

Gold futures for February on the Comex division of the New York Mercantile Exchange delivery traded at USD1, 204.60 a troy ounce during U.S. trading. This was up 0.18%.

It is to be noted that rates of gold were traded last in a range between USD1, 202.80 a troy ounce and USD1, 205.30 a troy ounce. As the year 2013 came to a close, gold prices were finished contracting by about 29 per cent, which would be the steepest decline for the yellow metal since 1981.

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Gold Rate Today in Chennai - All that glitters here are gold and diamond

With the gold market in the south of India emerging an attractive investment destination, gold rate today in Chennai has become the talk of the stake-holders. From buyers to sellers to agents to lenders to government, everybody keeps a close tab on gold rate today in Chennai, to keep themselves updated about the latest happenings in the crucial city for the trade.

On the other hand, gold rate today in Chennai is determined by various internal and external factors and the prices are very competitive, since many leading jewellers are competing with each other to attract buyers. Meanwhile, various competitions are being conducted among jewellers and others in the business and companies are contesting with each other to win awards, so that they would get mileage in wooing customers.

Today (January 16), it was announced that Divine Solitaires, India’s first solitaire diamond brand that is pioneering mechanisms to introduce transparency in pricing and consistency in the quality of diamonds, recently won the "Best Solitaire Brand of India" award at Gem & Jewellery Trade Council of India (GJTCI) Excellence Awards in Ahmedabad. 


The GJTCI Excellence Awards recently took place at an award ceremony at Ahmedabad, with a view to felicitate the stalwarts of the jewellery industry and to recognize their contribution towards the development and growth of the industry. Leading names of the Indian jewellery industry were present under one roof at the award ceremony.  


Trophies were awarded in across 40 categories in this year’s competition to few of the extraordinary men and women who've specialized in various categories of the jewellery sector for their outstanding achievements and services to the sector. Leading politicians, industrialists, social workers, eminent trade personalities and intellectuals were also invited to address the award function and to give away the award.   
        
On receiving the award for the "Best Solitaire Brand of India" Jignesh Mehta, Managing Director, Divine Solitaires commented, “We are honoured to receive such a prestigious recognition at the GJTCI Excellence Awards. At Divine Solitaires we work hard to bring about a certain level of transparency and quality in all our products. We are thankful to the GJTCI for acknowledging our work, and giving us this wonderful opportunity.”


Divine Solitaires was founded by Jignesh Mehta and Shailen Mehta in 2006 with a vision to organize the market of loose solitaire diamonds in India and taking on the onus of pricing and quality.
 A press release said Divine Solitaires is the first & only solitaire brand in India which provides its consumer with the world’s finest & perfectly crafted solitaire diamonds in an organized & transparent manner. Every Divine Solitaire diamond adheres to the highest standards of craftsmanship & stringent quality measures which go beyond any laboratory certifications.


Divine Solitaire is the first diamond brand in India to brought Nationwide Standard & Transparent Price List which guarantees complete transparency & assures our customers to get true value for money. Every Divine Solitaire is equipped with unmatched features like Hearts & Arrow, easy & Transparent Buyback and Upgrade option and a Free all risk cover insurance and many more.


 Divine Solitaires consistently strives to provide the consumer with a perfectly cut diamond solitaire that has an ethical sourcing, quality certification, investment value and clarity in pricing put together in a state of the art packaging, added the release. Within a short span of time Divine Solitaires has strengthened its presence at 82 premium jewellers in 52 cities across the country. Divine Solitaires plans to expand their pan India presence by penetrating at least 250 markets by the next three years.


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Chennai gold rate live - Gold, jewellers & film stars

The connection between film stars and jewellery stores is something that dates back to decades. As a proof to this claim, Kirtlials, one of the leading jewellery showrooms, came out with front page advertisements in reputed dailies, which sported yesteryear heroine Padmini wearing a diamond belt from Kirtilals.

From then to now, many top jewelers across the country had tied up with leading stars to promote their business. 

Kalyan Jewellers, which has roped in beauty queen turned actress Aishwarya Rai Bachchan as its brand ambassador, has unveiled 'Floret' collection recently. South Indian based Kalyan, which operates pan-India, also has in its list actors like Amitabh Bachchan, Prabhu and others, it may be noted.

Inspired by nature, Floret collection has got a wide array of designs that resemble flowers and other masterpieces of nature. Kalyan has recently opened six new stores, focussing on Gulf area. In India, it operates 52 outlets across the length and breadth of the country.

Stores of Kalyan Jewellers are open on Sunday also to cater to those who want to do shopping during the weekend. For more details, log on to www.kalyanjewellers.net

The ‘En Thangam En Urimai’ campaign by Prabhu for Kalyan became a huge hit and it prompted many jewellers in Chennai and Tamil Nadu to keep their prices attractive. News sources offering Chennai gold rate live to media houses said that the Prabhu campaign was a roaring success, though it evoked few guffaws from certain sections.

“En Thangam En Urimai became a slogan and it caught the attention of whole of Tamil Nadu. Many used it for various purposes,” said the sources, which offer Chennai gold rate live. Khazana Jewellery, which has 34 stores across India, has signed Tamannah as its brand ambassador. A top actress in Tollywood and Kollywood, Tamannah has got a huge fan following and Khazana expects it would help the brand.

A promotional material of Khazana, featuring Tamannah, says 'With 34 stores across India, the jewels from Khazana will add beauty to your beauty'. 'Exclusively for you, Khazana has got jewels that are designed with detailed craftsmanship. They are not just beautiful to look at. But will add more to your beauty.'

Khazana too keeps its stores open on Sundays. More details can be had at www.khazanajewellery.com

Small stores which operate from large towns and tier-2 and tier-3 cities of Tamil Nadu too are no exception in having celebrities as their brand ambassadors. They target stars who are in the evening of their market, apart from television actors.

Their advertisements feature in the regional editions of newspapers, besides local cable television channels. Coming back to leading jewellers, Malabar Gold has Suriya to bat for it, while Joyalukkas uses the star power of Madhavan. Jos Alukkas, another leading jewellery brand, had a popular advertisement featuring Vijay. While NAC ads featured Trisha, Sneha was the brand ambassador for Saravana Stores.

Not just jewellers, but gold loan firms too are no exception when it comes to having celebrities on board as brand ambassadors. Manappuram roped in a series of stars, including Tamil actor Vikram, to make the brand popular.

“The star power adds immense value to the jewellery brands. In turn, the actors and actresses huge money by endorsing these brands,” say sources offering Chennai gold rate live, explaining the reason behind jewellery showrooms and gold loan firms roping in stars for their promotional campaigns.

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Live Gold Rate in Chennai - Good news: Govt to ease gold curbs

There can be no good news than this for those in gold trade and those who love gold. For, after much consideration and consultation, the Indian government is set to ease its curbs on gold imports.

 

 The Union government and the country's apex bank- Reserve Bank of India- came out with a series of measures to curb gold imports last year.” These measures were taken to bring down India's current account deficit, which touched worrying levels. Thanks to the steps, the CAD has come down, much to the relief of those at the helm of affairs,” sources offering live gold rate in Chennai said.

 

 But still, the government was not so keen at easing the norms, despite representations from various industry bodies and organisations. The industry bodies made these representations since jewellers and others in the trade suffered a lot due to the government's restrictions. Since there were so many curbs on gold imports, the inflow of the precious metal from abroad countries came to a standstill.

 

”This worried jewellery owners and gold sellers a lot, since they were running out of gold to make ornaments. Also since there were restrictions against bullions and gold coins, jewellers felt the pinch and were facing uncertain future,” sources offering live gold rate in Chennai said further.

 

 Following this, based on the inputs from them, the trade bodies and industry organisations made representations to the government to ease norms. But there was no positive signal. However now, Planning Commission member Saumitra Chaudhuri has batted for relaxation in curbs on gold imports citing improved current account deficit (CAD) and joining the growing clamour for easing restrictions on the yellow metal.

 

 Speaking on the side-lines of a CII event, Saumitra Chaudhuri said, "Government had imposed curbs on gold imports in May as a temporary measure. Since it has helped considerably in cutting down trade deficit, I think there will be an end to this either towards the end of this quarter or early next fiscal."

 

Adding value to the voice of Chaudhuri, Economic affairs secretary Arvind Mayaram indicated that the norms would be relaxed after March. He told PTI on Tuesday that the government should not tamper with the existing regime at least for this fiscal, notwithstanding an improvement in the CAD situation.

 

A few days before that, Union Commerce and Industry Minister Anand Sharma said that the gold import norms would be revisited shortly. Speaking on the side-lines of the inaugural event of the Water Health India’s Jaladhara Foundation on the outskirts of Hyderabad, he said, “There is enough availability of gold in the country but we will revisit the import norms. Our effort is to tackle the channel of gold smuggling.”

 

It is to be noted that even Reserve Bank of India Governor Raghuram Rajan too favours doing away with the restrictions. He expressed this opinion, sharing the idea of the Commerce Ministry, which feels that the curbs on gold encourage smuggling.

 

All these opinions by policymakers have made jewellers very happy, and this is expect to make live gold rate in Chennai more attractive in the coming days, indicate experts in the trade. If you are looking for excellent quality gold rate in Chennai, you are at the right place. We offer personalized services and great gold price Chennai. So, if you are interested in owning some brilliant pieces, gold price will not be an issue.

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