The primary purpose of this blog (Prithviraj Kothari 's view on Bullion Markets - MD, RSBL (RiddiSiddhi Bullions Ltd.)) is to educate the masses of the current happenings in the Bullion world.
Overall, A decent Budget For Gems & Jewellery Industry (28/2/2015)
Gems & Jewellery had high expectations from the budget. We were expecting certain modifications as far as the duty is concerned, but nothing has been considered with regards to same. The government has neither imposed any restrictions not has it hiked the import duty on the gold. The industry was awaiting some announcement on the R & D front and new financial instruments to extract gold lying in India so as to increase CAD(Current Account Deficit), but these were missing.
The FM has a vision of putting in place a direct tax regime which is internationally competitive on rates. Such a direct tax regime would be matched by a modernised indirect tax regime by way of GST and will bring both- greater transparency and greater investment

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PRE-BUDGET VIEWS AND SUGGESTIONS (22/02/2015)
The most discussed topic of this month is the "Budget" and how it will affect the commodities business. Lately, I have been asked about my views and expectations from this year budget. I would like to put forward the following points-
Expectations are high for a massively reformist Union Budget that would give the somnolent economy the jolt it badly needs.
There are quite a lot of aspects that need immediate consideration for action as the bullion industry has been suffering a lot due to the current norms and practices.

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Gold Perplexed (15/02/2015)
Gold this week was giving confused or rather mixed behavioral patterns as it was being pulled between the bullish and bearish forces.
On Thursday, gold ended at $1,220.70 an ounce, up $1.10 or 0.1 percent, on a weak dollar and some disappointing economic data from the U.S. with retail sales dropping more than expected in January and first-time unemployment benefit claims rising more than anticipated last week.
Though gold was up on Friday, followed by weak US economic data, for the week gold was down 0.6%.

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Trade Range For Gold Remains Tight (07/02/2015)
The sentiments are so strong for the gold market that people get overly excited both at the top and bottom of the market.
At times gold seems to be behaving like a common man who is I fleeced by the minutest to the most extreme global scenarios.
This week too gold was dancing to the tunes of the US dollar, The US Jobs Data, Fed Interest rate hike, ECB’s actions on Greece, crude oil prices. So it’s basically a vicious circle for gold.

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This blog contains my opinion, which is not to be construed as investment advices. Information provided in these blogs is intended solely for informative purposes and is obtained from sources believed to be reliable.