Gold was Rs 28,100 per 10 gm on July 26, 2014.
In Delhi, the wholesale price is now Rs 48-52 a kg; the retail one is Rs 80 a kg.
Mehta's export company is the largest integrated gold player in the world.
The rise was due to a sharp fall in prices, which spurred demand.
The price is at a 4-year low, stabilising around Rs 25,000/10gm.
Traders estimate lower vegetable output this year.
Exports of gold jewellery fell 23.13 per cent to $1153 million.
Gold is currently trading at Rs 25,200 for 10 grams.
Traders estimate around 30 per cent of rabi crop damage.
Demand to remain high with festive season ahead and ongoing price fall
Orders for the festive season abroad begin from next month.
Dealers expect prices to fall further, owing to an impending rate hike in the US
India is still the best story in major emerging markets from a 5-year perspective.
Dairy, sugar prices fall sharply, despite El Nio fears
Dealers are selling gold at a discount of Rs 175 for 10 gm.
Total area sown till last Friday was 16.56 mn hectares, up 23%.
Around two dozen flour mills with its maida supply dedicated to Nestle have stopped production.
The forecast of deficient monsoon rainfalls scared farmers.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
A deficient rainfall season starts with heavy showers.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances