Topic
traders
Commodities Gold traders seek tax safeguards to boost trust in new Gold Monetization Scheme
The Gold and Silver Merchants Association has urged the Indian government to address tax-related concerns under the proposed Gold Monetization Scheme (GMS) 2.0, citing fears of Income Tax scrutiny over inherited gold lacking purchase documents. The association calls for clear legal protection, simple KYC procedures, and direct involvement of jewellers to build public trust and reduce gold imports.
Commodities Fuel-hit Russia bought gasoline produced by India’s Nayara Energy via traders: Report
Russia has reportedly bought gasoline produced by India's Nayara Energy via international traders to address fuel shortages caused by Ukrainian attacks on its energy infrastructure. The refiner, 49% owned by Rosneft, has not confirmed the deal. At least 60,000 metric tons of gasoline have been shipped from India to Russia.
Commodities Crude Oil Prices Dip Amid Middle East Tensions
Crude oil prices saw a slight decline as Hezbollah rejected a US-backed ceasefire proposal in Lebanon, impacting global supply routes. Despite this, oil prices recorded a weekly gain due to ongoing Middle East tensions.
Commodities Crude Oil Prices Plummet Amid Truce Speculations
Crude oil prices have dropped significantly in May, with Brent crude falling 19% due to speculation over a potential truce renewal between the US and Iran. The possible agreement could lead to resumed oil flows through the Strait of Hormuz, impacting global supply.