Sunday, 9 March 2014
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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Tuesday, 4 March 2014
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com/
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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
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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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
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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.
For more details;
Contact,
Chennai.GoldrateLive.Com is continually growing, and to ensure that we are always giving you exactly what you want we would love to hear any feedback you may have. It may be about our website, our service, or any new features you would like to see us include
+91 99623 60756
enquiry@goldratelive.com
http://www.chennai.goldratelive.com
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