Gold on Thursday slipped from record highs by losing Rs 200 to Rs 30,200 per 10 grams in the national capital due to meagre demand for the precious metal at prevailing high levels.
Gold in Singapore, which mostly set the price trend on the domestic front, climbed 0.6 per cent to $1,303.63 an ounce and silver by 1.9 per cent to USD 18.33 an ounce, the highest since September.
Gold in New York, which normally sets price trend on the domestic front, rose by 0.90 per cent to $1,326.90 an ounce and silver by 0.43 per cent to $20.96 an ounce on Monday night.
Australia have their own speedsters in Mitchell Starc, who is level with Archer with 15 wickets, and Pat Cummins (11).
The yellow metal witnessed some token buying but failed to take off on Dhanteras, a day considered auspicious for buying gold, silver and other valuables and is largely celebrated in North and West India.
Gold in New York, which mostly set the price trend on the domestic front, jumped up by $33.50, or 2.73 per cent to $1,262.60 an ounce and silver by 0.68 per cent to $16.96 an ounce in Thursday's trade.
Silver followed suit and dropped by Rs 325 to Rs 37,100 per kg.
In stock market parlance, "meme stock" was certainly the word of the year. Coined to mean those stocks that gain sudden popularity on the internet with resultant high prices, it was used to derisively describe the behaviour of retail traders globally who entered the market in huge numbers in the two Covid-19 years. A recent study, "Market Concentration and Retail Participation in India", by the National Stock Exchange economics team led by their chief economist Tirthankar Patnaik shows unlike these impressions, the retail investors, at least in India, have not performed inconsistently.
Gold spurted further to maintain its shine on the bullion market, just ahead of Diwali, on sustained buying by retail customers and closed with another gain of Rs 75 at Rs 5800 per ten gram.
According to jewellers and MMTC-PAMP India, gold demand has picked up in the wake of good monsoon and favourable price levels. There was positive response and more footfalls.
Traders said sentiments turned better after gold recovered from an eight-month low in global markets on speculation that reduced prices may spur purchases before the Federal Reserve begins a two-day policy meeting.
After losing Rs 730 in last six sessions after the Reserve Bank of India eased imports curbs by scrapping 80:20 scheme, gold staged a strong comeback by rising Rs 840 to close at Rs 27,040 per ten grams, a level last seen on October 30.
Silver coins, however, continued to trade in a narrow range.
Silver also rose sharply by Rs 640 to Rs 35,700 per kg.
Traders said profit selling by stockists emerged after a rally in the previous session mainly pulled down gold and silver prices.
Gold edged higher by 0.19 per cent to $1,225.80 an ounce
Gold prices on Monday recovered by Rs 25 to trade at Rs 27,475 per 10 grams at the bullion market on pick-up in demand from jewellers.
Gold regained its sheen on Wednesday by soaring Rs 315 to Rs 27,565 per 10 grams at the bullion market.
Traders said sentiment turned distinctly weak after gold prices slumped in global markets as Swiss voters rejected a plan for their central bank to accumulate bullion and oil extended its decline to five-year low, curbing demand for the precious metal.
Silver also reclaimed the Rs 34,000 per kg mark.
Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Sentiments remained firm in precious metals on sustained buying by jewellers and retailers to meet ongoing festive season demand.
Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.
The AIADMK's staying power is not in question, but it has to regain the winning streak. That will require its leaders and leadership to re-wire themselves, to be able to re-think situations in ways different from what they had been accustomed to, suggests Sathiya Moorthy.
Silver also eased by Rs 320 to Rs 35,780 per kg.
The Congress' top leadership realises the former cricketer's utility and mass appeal. His oratory skills and ability to whip up mass hysteria in election rallies is acknowledged as an asset
Globally, gold added 0.4 per cent to $1,163.73 an ounce in Singapore.
Globally, gold was trading 0.35 per cent lower at $1,267.20 an ounce in Singapore.
Gold drifted lower by Rs 200 to trade at one-week low of Rs 31,050 per ten grams.
The worsening demand for jewellery has already started impacting jobs and karigars or goldsmiths.
Bullion merchants said persistent rise in gold prices is mostly due to a firming trend in global markets as concerns over European economy mounted, spurring demand for safe-haven, and increased buying by jewellers to meet wedding season demand at domestic spot markets.
The precious metal spurted by Rs 200 from Friday's level at scale a new peak of Rs 15,900 per 10 gram.
Traders said increased buying by stockists in line with a firm global trend, as investors awaited the US jobs report and the impact on the monetary stimulus, mainly boosted the sentiment.
Meanwhile, silver coins continued to be traded at previous level of Rs 79,000 for buying and Rs 80,000 for selling of 100 pieces.
'After he had exposed the Narcotics Bureau's wrongdoings, he threatened to expose the Enforcement Directorate as well.' 'So they are trying to rake up an old legal deal, distorting information and using the PMLA which did not even exist at that time.'
After two days of gains, gold prices fell by Rs 60 to close at Rs 27,400 per 10 gram in New Delhi on Wednesday due to slackened demand from jewelers and retailers amid absence of cues from global markets.
Snapping their three-day falling trend, gold prices surged by Rs 375 to trade at Rs 26,375 per 10 grams at the bullion market.
Gold prices maintained its upward journey for the second day with a gain of another Rs 180 to Rs 27,300 per 10 gm on Monday.
Silver, however, remained steady at Rs 37,200 per kg.
While gold consumption is expected to stabilise this year, it may be some time before it revisits record levels seen in the depths of the financial crisis.
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