Gold and Forex News

Remittances from GCC to India hit $72b

GCC is the second-largest source for remittances after North America

UAE Exchange waives transfer fees to Chennai flood victims

The fees have been waived for all remittances to the Chief Minister's Relief Fund Tamil Nadu State, India and the Prime Minister's National Relief Fund India.

Rising greenback dents India's forex reserves

Overall, the Forex reserves stood at $351.61 billion for the week ended on November 27.

Monsoon failure hits India gold demand

The first back-to-back shortfall in India's monsoon rain in three decades is hurting gold demand with sales of pendants to bracelets and necklaces dwindling during the busiest quarter of the year.

Gold up on technical trading

The most active gold contract for February delivery added $9.1 (0.86 per cent) on Monday to settle at $1,065.30 per ounce, Xinhua reported.

DGCX and FOW in partnership

The Dubai Gold and Commodities Exchange, or DGCX, partnered with Futures and Options World, or FOW, for its Trading Middle East Conference 2015 on Thursday.

Prepare for gold below $1,000 as Fed pulls the trigger on rates

Gold may become a three-figure commodity once again after holding above $1,000 an ounce for the past six years.

Modi's gold deposit scheme attracts only 400 grammes so far

A gold deposit scheme launched amid fanfare by Indian Prime Minister Narendra Modi two weeks ago has so far attracted only 400 grammes, an industry official said on Thursday, out of a national hoard estimated at 20,000 tonnes.

Indian rupee snaps 3-day gains, down to 66.03 to US dollar

The dollar hit a fresh seven-month high against the euro and a one-week high against the yen during Asia trade on Tuesday.

Dollar stuck after jump to seven-month high

The inflation numbers are unlikely to shift the broader picture of a US central bank on the cusp of raising rates.