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    Question

    Gold prices are fixed by which of the following

    association on a daily basis on global level?
    A London Bullion Market Association Correct Answer Incorrect Answer
    B Shanghai Gold Exchange Correct Answer Incorrect Answer
    C Indian Bullion Jewellers Association Correct Answer Incorrect Answer
    D Multi Commodity Exchange Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Gold prices are fixed at London Bullion Market Association on a daily basis (business day) at 10:30 am and 3pm (London time). RBI has issued norms for facilitating physical import of gold through India International Bullion Exchange IFSC (IIBX) or similar authorised exchange by Qualified Jewellers in India. In addition to agencies nominated by the RBI and by DGFT, Qualified Jewellers (QJ) as approved by International Financial Services Centers Authority (IFSCA) were permitted to import gold in January 2022.

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