Page 35 - Bullion World Volume 02 Issue 01 May 2022
P. 35
Bullion World | Volume 2 | Issue 01 | May 2022
RBI Announces
Malabar Gold and Dates For Premature
Diamonds eyes revenue of Redemption of
Rs 45,000 cr in FY23 Sovereign Gold Bonds;
Jewellery retailer Malabar Gold and Diamonds said it Know Details Here
aims to garner Rs 45,000 crore in revenue this fiscal
on the back of company’s robust retail expansion The Reserve Bank of India has released dates for
plans. It plans to open 97 showrooms, including the premature withdrawal of Sovereign Gold Bonds
60 across India and 37 overseas. This will take the (SGB) issued under different tranches. The RBI had
company’s total showroom count to 373 by the end of through a press release listed out the details of the
March next year, with a presence in 13 countries. SGB tranches, which were falling due for premature
redemption during H1 of 2022-23, i.e., from April 1,
Source: https://theprint.in
2022 to September 30, 2022, along with a window
for submission of request for premature redemption.
Retail gold demand from Source: https://www.outlookindia.com
India fell slightly but ETF
inflows increased
The World Gold Council (WGC) has released the latest statistics
from India in regards to gold consumption and there has been a
slight drop in retail demand. The WGC noted that retail demand
remained sluggish as buyers postponed purchases in anticipation
of a correction in the gold price.
Source: https://www.kitco.com
India's biggest
bullion refiner
forays into silver for
industrial use
India’s biggest bullion refiner is expanding its
business to industrial silver as demand for the
metal -- used in everything from switches to
television screens -- is set to surge in the South
Asian nation.
MMTC-PAMP India Pvt., which has the capacity
to refine about 900 tons of gold and silver, has
started making silver and alloy contacts -- --used
in electrical fuse boxes and switches -- at a
factory next to its refinery in the state of Haryana,
Managing Director. The plant will produce more
than 100 million pieces of contacts this financial
year, with plans to double output by the end of
March 2024, he said.
Source: https://www.business-standard.com
35
35
