Page 36 - Bullion World Issue 11 March 2022_Neat

INDIA news
Bullion World | Issue 11 | March 2022

January silver

imports surge

in Gujarat

Anticipating higher returns on silver,
investors increasingly turned to
procuring silver in January. As silver
prices plunged to a low of Rs 61,000
per kg, the precious metal has once
again caught the investors’ eye. In
January 2022, 141MT silver was
Budget 2022 | Gems and imported into Gujarat, according

to data by Ahmedabad Air Cargo
jewellery sector has little to Complex (AACC) – up six folds
compared to 20MT in December
cheer about 2021.

Source: https://timesofindia.
Except a small relief for diamond traders, the jewellery industry has not indiatimes.com
benefited much from Budget 2022. While there is no change in the import
duty of gold, that on cut and polished diamonds has been brought down to 5
percent from 7.5 percent.

The Budget said customs duty on cut and polished diamonds and gemstones
is being reduced to 5 percent in a bid to “boost the gems and jewellery sector.
Simply sawn diamond would attract nil customs duty.”

Source: https://www.moneycontrol.com

Gold ETFs attract Rs 4,814-cr in

2021 on firming inflation, higher mkt

valuations

Gold exchange traded funds (ETFs) remained in favour in 2021 with the segment
attracting Rs 4,814 crore primarily due to firming of inflation and elevated market
valuations. Although, the inflow was lower compared to Rs 6,657 crore seen in 2020,
data with Association of Mutual Funds in India (Amfi) showed.

The global recovery and improved investor sentiment resulted in gold ETF flows
sobering down in 2021 compared to the pandemic year.

Source: https://economictimes.indiatimes.com
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