Question
Gold prices are fixed by which of the following
association on a daily basis on global level?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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