Gold prices continue to move sideways as recent economic data has kept U.S. Treasury yields rangebound, holding the dollar in check. The dollar index consolidated its recent gains, which removed some of the resistance gold prices have been seeing. Weaker than a decline in jobless claims offset expected U.S. Durable goods orders. The jobs data will be a key factor for the Fed. Chair Powell will begin to feel more comfortable tapering when jobless claims decline to levels that were seen before the pandemic.

Ruling on an appeal filed by an individual, the Agra bench of ITAT said the order would act as a precedent for all similar cases.

The Enforcement Directorate (ED) on Tuesday transferred assets worth ₹8,441 crore to banks who suffered losses due to frauds by Vijay Mallya, Nirav Modi and Mehul Choksi. The three fugitives cheated the public sector banks of ₹22,586 crore, out of which 80.45% ( ₹18,170 crore) has been attached/seized by the ED. Vijay Mallya is accused of defrauding a consortium of banks, including the State Bank of India. Both Nirav Modi and his uncle Mehul Choksi are wanted in the Punjab National Bank (PNB) fraud worth ₹14,500 crore.

In India, gold hallmarking mandatory from June 15

NEW DELHI - The Indian government has enforced mandatory hallmarking of gold jewellery and artefacts from 15 June. Halmarking is not mandatory for the jewellers with turnover of Rs 40 lakh and below. As per the new guidelines, jewellers across India will now be allowed to sell gold items of only 14, 18, 20, 22, 23 and 24 carats from June 15, 2021 onwards.

Adani’s net worth of $76.7 billion got a boost from a huge rally in Adani Total Gas, Adani Enterprises and Adani Transmission shares

The Karnataka High Court on June 11 is expected to deliver its verdict if the Competition Commission of India (CCI) can go ahead with a probe against Amazon and Flipkart for alleged anti-competitive practices, a judgment that will have a bearing on India’s expanding e-commerce space.

Sources say that the premier investigating agency conducted searches at around 20 locations, including the premises of Gautam Thapar, and recovered damning evidence.

This extension comes amid the proposed LIC IPO that could be done in Q4FY22. Kumar was to retire on June 30, 2021.

The Singapore International Arbitration Centre (SIAC) has decided to hear the high-profile legal case between Amazon.com NV Investment Holdings Llc and Kishore Biyani-promoted Future Group over the latter’s ₹24,713 crore deal with Reliance Industries Ltd on 12 July, according to two people with direct knowledge of the matter.

MUMBAI - Tata Group has acquired a majority stake in online grocery seller BigBasket for an undisclosed sum of money, pitting it against the likes of billionaire Mukesh Ambani’s Reliance and Amazon. The stake was bought by Tata Digital Ltd, a unit of Tata Sons, a joint statement by the two firms said. It neither disclosed the quantum of stake bought nor the deal size.