gold Current Affairs - 2020

India-Nigeria to deepen their ties on defence, energy and counter terrorism

On September 1, 2020, India and Nigeria agreed to deepen their cooperation to counter terrorism, piracy and insurgency to boost trade exchanges. Highlights The countries agreed to their cooperation in defence equipment, maintenance services and medical. They also agreed on regular exchange of information to counter terrorism, insurgency and piracy. During the meet, Nigeria appreciated Read More…

World Gold Council Report: 37% of Indian Women never bought gold

On May 27, 2020, the World Gold Council released its report on Retail Gold Insights: India Jewellery Report. According to the report, around 37% of Indian women never bought jewellery. Highlights The report says that gold jewellery was the second most popular item among “Fashion and Lifestyle” shoppers next to clothes and silk sarees. Around Read More…

Gold Imports of 2019-20 dip by 8.86% narrowing Current Account Deficit to 143 billion USD

On March 16, 2020, the Commerce Ministry reported that the gold imports for the period April to February (2019-20) has reduced by 8.86% as compared to the previous year. Highlights India is the largest importer of gold in the world. As the gold imports of the country have been reduced, the trade deficit has reduced Read More…

Corona Virus hits Diamond Industry of Surat greatly

Workers in Diamond Industry of India, especially in the parts of Surat have been facing job losses and pay cuts as Corona Virus has hit exports to China. China is the biggest market of precious stones and since February China is terribly affected with Corona Virus. Highlights There are more than 15,000 big and small Read More…

World Gold Council report: RBI ranks 6th in buying gold abroad

The World Gold Council (WGC) recently released its report, “World Gold Outlook 2020”. The report says that gold has performed the best since 2010 in 2019. In 2019, the gold trade in USD has increased by 18.4% as compared to 2010. Highlights: India According to the WGC, RBI (Reserve Bank of India) currently holds 625.2 Read More…