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India Increases Gold Import Duties, Leading to ETF Outflows and Price Surge

India Increases Gold Import Duties, Leading to ETF Outflows and Price Surge

India has raised its import duties on gold and silver from 6% to 15% as of May 13, 2026, in an effort to curb overseas purchases and support its foreign exchange reserves. This policy change has resulted in a significant increase in domestic gold prices, reaching 164,497 rupees ($1,717) per 10 grams, the highest in over two months. Consequently, India's gold exchange-traded funds (ETFs) experienced their first net monthly outflow in a year, with investors booking profits due to the price surge. The outflow amounted to $61 million, equivalent to 0.4 metric tons, reducing total holdings to 116.3 tons. Despite this, gold ETFs have still attracted net inflows of $3.48 billion so far this year.

Analysis-Global firms exploit India's IPO boom to take profits back to home countries

Analysis-Global firms exploit India's IPO boom to take profits back to home countries

By Vibhuti Sharma MUMBAI, June 4 (Reuters) - India's red-hot initial public offering market may look irresistible as foreign firms line up for listings, but the rush is not about raising funds to expand in a fast-growing market; it's about sending billions of dollars back to headquarters.

India Eliminates Tax on Overseas Bond Investors to Boost Foreign Capital

India Eliminates Tax on Overseas Bond Investors to Boost Foreign Capital

India has announced the removal of income tax on interest and capital gains for foreign investors and the Bank for International Settlements, effective April 1, 2026. This move is part of a broader strategy to attract foreign portfolio investments amid record capital outflows. The Reserve Bank of India has also expanded the range of government securities available to non-resident investors and lifted certain investment limits. These measures aim to improve India's balance of payments and stabilize the rupee, which has been under pressure due to significant foreign investor sell-offs and rising global oil prices.

India Launches $1 Billion Fund to Stabilize Airline Fuel Costs Amid Rising Prices

India Launches $1 Billion Fund to Stabilize Airline Fuel Costs Amid Rising Prices

The Indian government has introduced a Rs100 billion ($1 billion) price stabilization fund to protect its airlines from the impact of rising jet fuel prices, exacerbated by the ongoing conflict in West Asia. This initiative is designed to provide interest-free advances to oil marketing companies, ensuring stable aviation turbine fuel (ATF) pricing for airlines. The fund aims to offer greater predictability in fuel costs by adopting a fixed-price arrangement for both domestic and international operations, thereby reducing airlines' exposure to sudden fuel price spikes. This measure is expected to stabilize airfares and maintain domestic and international air connectivity. The fund will be available to all scheduled Indian carriers for a period of three years. Air India, among other carriers, has already announced plans to reduce international operations due to high fuel prices and airspace restrictions.

Gold just passed a milestone that should worry Washington

Gold just passed a milestone that should worry Washington

Money runs on trust, not on metal or paper. A dollar buys what it buys because enough people agree it will, and because the country standing behind it has spent the better part of a century being the safest bet in the room. For most of your life, that safest bet had a specific address. When a ...

Reserve Bank of India Denies Reports of $12 Billion Gold Reserve Sales Amid Economic Pressures

Reserve Bank of India Denies Reports of $12 Billion Gold Reserve Sales Amid Economic Pressures

The Reserve Bank of India (RBI) has firmly denied reports suggesting it sold gold reserves worth approximately $12 billion in the two weeks leading up to May 22. This denial comes after Bloomberg Economics published an analysis indicating that the RBI might have offloaded a significant portion of its gold holdings to protect its foreign currency assets amidst the ongoing Middle East conflict. The RBI maintains that its gold reserves remain unchanged at 880.52 tonnes, with the majority held domestically. The Indian Press Information Bureau also labeled the media report as 'fake,' reinforcing the RBI's stance. Despite the recent increase in import duties on gold, which should have bolstered the value of the RBI's bullion holdings, the analysis suggested sales were made to prioritize liquid foreign currency reserves as India faces economic challenges due to rising oil prices and capital outflows.

India Expands Venezuela Oil Imports Amid Global Energy Disruptions

India Expands Venezuela Oil Imports Amid Global Energy Disruptions

Indian Prime Minister Narendra Modi recently engaged in discussions with Venezuela's acting President Delcy Rodriguez in New Delhi. The talks focused on enhancing energy cooperation between the two nations, as India seeks to diversify its energy sources following global supply disruptions. Venezuela has emerged as India's third-largest crude oil supplier, a significant development given India's status as the world's third-largest oil importer. The discussions also explored potential investments by Indian companies in Venezuela's mining, critical minerals, pharmaceuticals, and automobile sectors. This meeting underscores India's strategic move to secure energy resources amid geopolitical tensions affecting traditional supply routes.

Gold and Silver Prices React to U.S.-Iran Negotiations Amid Market Uncertainty

Gold and Silver Prices React to U.S.-Iran Negotiations Amid Market Uncertainty

Gold and Silver Prices React to U.S.-Iran Negotiations Amid Market Uncertainty

World shares are mixed as Tokyo's Nikkei 225 follows Wall Street to an all-time high

World shares are mixed as Tokyo's Nikkei 225 follows Wall Street to an all-time high

Shares have opened lower in Europe

Blackstone Raises $13.1 Billion for Largest Asia Private Equity Fund, Exceeding Targets

Blackstone Raises $13.1 Billion for Largest Asia Private Equity Fund, Exceeding Targets

Blackstone Raises $13.1 Billion for Largest Asia Private Equity Fund, Exceeding Targets

India's services growth hits six-month high on domestic demand, PMI shows

India's services growth hits six-month high on domestic demand, PMI shows

BENGALURU, June 3 (Reuters) - India's dominant services sector grew at its fastest pace in six months in May on a pick-up in domestic demand, even though global orders stayed below last year's average and business confidence slipped for a second straight month, a survey showed.

Venezuela's Acting President Visits India to Expand Crude Trade Amid Hormuz Disruption

Venezuela's Acting President Visits India to Expand Crude Trade Amid Hormuz Disruption

Venezuela's acting President Delcy Rodríguez is visiting India to meet with Prime Minister Narendra Modi, focusing on energy security as India seeks to diversify its crude supplies disrupted by the Iran war. The discussions will cover the full spectrum of India-Venezuela relations, including energy, trade, investment, pharmaceuticals, and healthcare. India is looking to broaden its sources of crude after the Iran conflict blocked the Strait of Hormuz, a critical chokepoint for oil supplies. Venezuela has become increasingly important in India's energy mix, with shipments reaching 283,000 bpd in April and expected to rise further.