Gold prices may touch Rs.18,000 per 10 gram: Assocham

September 10th, 2009 KOCHI - With gold prices soaring across the country, bullion merchants, jewellers and even customers are a worried lot in Kerala. The disappointment looms large particularly in the context of the ensuing festival season.

September 4th, 2009 NEW DELHI - Wholesale prices of rice rose more than 13 percent in the past one year due to a demand-supply mismatch, says the Associated Chambers of Commerce and Industry (Assocham). The industry forum said the price of wheat similarly rose by about five percent.

August 16th, 2009 NEW DELHI - India's arms imports are expected to touch $30 billion by 2012 even as the domestic defence market is poised to grow to $700 million in five years, according to an industry lobby report. The report submitted to the defence ministry by the Associated Chambers of Commerce and Industry (Assocham) said: "India's arms imports alone would rise to $30 billion by 2012." "The Defence Offset Facilitation Agency (DOFA) and the armed forces in consultation with India Inc should work out a comprehensive strategy to ensure that defence imports happen at extremely competitive rates," Assocham president Sajjan Jindal said.

July 1st, 2009 NEW DELHI - Rising commodity prices globally, delayed monsoon and fiscal and monetary measures are likely to push up India's annual rate of inflation and average near 5 percent this fiscal, according to an industry lobby. "The surge in international commodity markets led by energy, metals and food is likely to push domestic prices up," the Associated Chambers of Commerce and Industry of India (Assocham) said, and cautioned that if the monsoon fails or remains below the average, the consequences could be far-reaching.

June 17th, 2009 NEW DELHI - Coaching institutes must be brought under the tax net as they seldom disclose their earnings, the Associated Chambers of Commerce and Industry of India (Assocham) has said. In a note submitted to the revenue department of the finance ministry Wednesday, Assocham said coaching institutes were charging "astronomically higher fee without submitting proper accounts of their income to tax authorities".

June 3rd, 2009 Gold prices fall sharply as dollar reboundsNEW YORK — Gold prices have fallen sharply as the dollar rebounds against the euro and the British pound. The dollar's gains come ahead of Thursday's interest rate decisions from the European Central Bank and the Bank of England.

May 31st, 2009 NEW DELHI - The Associated Chambers of Commerce and Industry (Assocham) has proposed the setting up of a National Inflation Commission to help the government contain prices of essential commodities. "In the economic priorities of the new government, a transparent approach to inflation needs to be followed," Assocham president Sajjan Jindal said in a report.

May 26th, 2009 NEW DELHI - Punjab has incurred property losses of up to Rs.7,000 crore on account of the violence by followers of the Dera Sachh Khand sect, according to conservative estimates arrived at by the Associated Chambers of Commerce and Industry of India (Assocham). "Social tension in Punjab has caused a loss of Rs.6,000-Rs.7,000 crore of public property and pushed behind its investment prospects to a significant extent," Assocham said in a statement Tuesday.

May 9th, 2009 Gold prices hold steady as Wall Street ralliesNEW YORK — Gold prices are holding steady as a rally in stocks keeps demand for the safe-haven asset in check. Other commodities, like oil and grains, are surging on the day's upbeat economic data.

May 8th, 2009 Gold prices inch higher as dollar weakensNEW YORK — Gold prices are slightly higher as the dollar shows more weakness and stocks tumble on Wall Street. Energy and agriculture futures are also slightly higher.

April 30th, 2009 MUMBAI - Gold sales across the country zoomed 14 percent in value terms April 27, this year's Akshaya Tritiya, compared to the auspicious day last year, the World Gold Council (WGC) announced here Thursday. Akshaya Tritiya is an auspicious day according to the Hindu calendar for buying long-term assets like gold and silver, including ornaments made of the same, diamond and other precious stones, and real estate.

April 27th, 2009 NEW DELHI/MUMBAI/CHENNAI - Despite the high cost of the yellow metal and the slowdown, people bought gold jewellery in large numbers Monday on Akshaya Tritiya, considered an auspicious day in the Hindu calendar for buying long-term assets like gold, silver and real estate. Akshaya Tritiya falls on the third day of the bright half of the Hindu month of Baisakh (April-May), when the Sun and Moon are believed to be in exalted positions and are simultaneously at the peak of brightness, which happens only once every year.

April 27th, 2009 THIRUVANANTHAPURAM - People began buying gold jewellery from Monday morning here on the occasion of Akshaya Tritiya, considered an auspicious day in the Hindu calendar for buying long-term assets like gold, silver and real estate. 'Gold is the ultimate symbol of wealth and prosperity.

April 21st, 2009 Gold prices dip as stocks move higherNEW YORK — Gold prices are slightly lower as stocks gain ground. Oil prices are flat, while grain prices are up.

March 19th, 2009 CHENNAI - Gold has lost much of its glitter to diamond. Though considered auspicious for a family, gold prices have shot through the roof.