Extending gains for the second day, gold prices moved up by another Rs 70 to Rs 28,300 per ten gram in the national capital on Friday on increased buying by jewellers and retailers, driven by festive season demand coupled with firming global trend.
Gold remained higher by adding another Rs 70 to Rs 27,550 per ten grams at the bullion market on Tuesday.
Silver also traded higher by Rs 250 to Rs 41,000 per kg on increased offtake by industrial units.
Traders attributed the rise in the precious metal prices to emergence of buying at prevailing levels by stockists and retailers to meet the ongoing marriage season demand.
Silver was also up by 1.63 per cent to $15.92 an ounce.
Bullion merchants said increased buying by jewellers and retailers to meet wedding season demand and a firming trend overseas where gold surged to one-month high, mainly boosted the sentiment.
'80% of the rural and urban population don't have enough purchasing power.'
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
gold prices fell by Rs 210 to Rs 26,600 per 10 grams.
Gold in London, which normally sets price trend on the domestic front, fell 0.6 per cent to $1,311.65 an ounce.
Silver settled at Rs 37,280 per kg after firming up by Rs 230.
Silver met with resistance and fell by Rs 200 to Rs 36,000 per kg.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
"There are clearly two sides. On one side, there is an organisation of patriots in the form of BJP and on the other side, tukde-tukde gang have come together under the leadership of the Congress. It is for the people of Karnataka to decide now whether they are with the patriots or those who support people who want to divide this country," he added.
Silver also rebounded by Rs 360 to Rs 41,770 per kg on increased offtake by industrial units and coin makers.
They just wanted their angst noticed, and as a symbol of recognition, Jallikattu, restored without the annual ritual of court cases and adjournments, explains N Sathya Moorthy.
Tata Neu, the super app from the Tata group, has been downloaded by over 7 million users within seven weeks of its launch. And, the company wants to ramp this up to 150 million users in the next two years, said senior executives of Tata Digital in an internal magazine of the Tata group. According to data from App Annie, a mobile app tracking platform, the Tata Neu app has been downloaded by over 11 million users.
The enormous structured global advertising machinery that surrounds every football game on the planet today? Pele was perhaps single-handedly responsible for all of it. By just being brilliant, captivating crowds, and behaving like a being from the future, doing things that STILL provoke oohs and aahs from watchers. Vaibhav Raghunandan salutes the Incomparable Pele.
Gold prices rose further by Rs 10 to Rs 27,500 per ten grams in the national capital today on the back of pick-up in buying by jewellers to meet wedding season demand.
Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
For the second straight year, the gems and jewellery industry is set for almost a washout of business on Akshaya Tritiya as only about 10 per cent of pre-Covid sales of 2019 are expected on Friday amid the raging pandemic sapping footfalls and purchasing power of people.
Royal Challengers Bangalore skipper Virat Kohli believes 'Qualifiers' and 'Eliminators' are terms coined simply to create more pressure and insists that his side is capable of winning two more games to reach the IPL final.
Don't view the mobile phone or tablet as a shut-up toy while a parent is busy, highlights Dr Aarti Bakshi.
Bullion traders attributed the rise in precious metal prices to emergence of buying by jewellers and retailers driven by ongoing 'Navratras', considered as an auspicious week for making new purchases according to Hindu mythology.
Marketmen said apart from increased buying by jewellers and retailers to meet upcoming festive season demand, a firming global trend on speculation prices near an eight-month low will spur more buying as the US Federal Reserve begins a two-day policy meeting, also boosted the sentiment.
Traders said sustained buying by stockists and retailers amid a firm global trend where gold advanced as the drop to the lowest level in 34 months last week lured buyers mainly influenced the sentiment.
Traders said stockists selling against sluggish demand mainly led to decline in gold prices.
Silver also recovered by Rs 515 to Rs 36,750 per kg on increased offtake by industrial units and coin makers.
silver coins held steady at Rs 52,000 for buying.
The Modi government has to embrace the history of Tamil conquests in South East Asia and stop obsessing about Babar/Humayun, argues Colonel Anil A Athale (retd).
'It seems the action against Nupur was because the vice president was in Qatar and officials in his secretariat did not want any embarrassment.'
India's gold demand declined 18 per cent to 135.5 tonnes in the first three months of this year, mainly due to a sharp rise in prices, according to the World Gold Council (WGC). The demand stood at 165.8 tonnes in the first three months of 2021. In terms of value, gold demand dropped 12 per cent to Rs 61,550 crore in the January-March period. It stood at Rs 69,720 crore in the year-ago period, the 'Gold Demand Trends Q1 2022' report released by the WGC said.
Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
Traders attributed the sharp rise in silver prices to a firming trend overseas.
Bullion merchants said sustained buying by stockists and jewellers to meet the ongoing wedding season demand mainly kept gold prices higher.
Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
Ashwin is relishing one of his "happiest IPL seasons" even though he finished the league phase with 11 wickets and 183 runs IMAGE:
The Directorate of Revenue Intelligence, the lead agency to check customs frauds and smuggling, has decided to post officers at India's Mission in New York (US), Singapore, Brussels (Belgium) and in Nepal's Birgunj.
With accurate strategies you can create an online presence, reach out to employers and maximise your chances of getting employed.
In July alone, 2.5 tonnes of gold coins were imported so far from South Korea under zero-duty facility
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