Money changers operating behind the RBI HQ in Mumbai said they would charge a 15% fee to convert Rs 1 crore.
Bulk seizures of new currency continued on Saturday with some more incidents being reported, including one in which the IT department recovered Rs 5.7 crore cash in new notes secretly stashed inside the bathroom tiles of a hawala dealer in Chitradurga district in Karnataka.
Silver coins, however, held unchanged at Rs 70,000.
Silver also eased by Rs 150 to Rs 41,700 per kg.
Gold drops Rs 110 on macro factors.
Gold prices plunged on the bullion market in New Delhi on Wednesday on aggressive offloading by the stockists and traders, sparked by a sharp fall in overseas markets. Silver, too, met with frantic selling pressure due to the prevailing overall trend. Standard gold (99.5 purity) tanked by Rs 305 per ten grams to close at Rs 17,305 from overnight's closing level of Rs 17,610. Pure gold (99.9 purity) dropped by a similar margin to end at Rs 17,395 from Rs 17,700 on Tuesday.
The Reserve Bank of India's platinum jubilee celebrations in Mumbai on Thursday served as a poignant moment for Prime Minister Manmohan Singh to reminisce about the time he was the custodian of the country's monetary and bullion reserves.
Continuing the record-setting spree, gold prices on Thursday climbed to Rs 18,399 per ten gram for April delivery amid weak US dollar.
Gold prices plunged and closed below the psychologically-significant Rs 29,000 per 10 grams mark at the local bullion market on Monday on consistent selling by stockists and speculators despite firm global sentiment.
After falling for three straight days, gold prices recovered by Rs 50 to Rs 26,700 per ten grams at the bullion market on Friday.
The gold prices fell by Rs 360 to Rs 19,960 per 10 grams, a level last seen on November 4, while silver tumbled Rs 950 to Rs 41,700 per kg on fall in demand among jewellers at existing high levels.
Gold prices fell further at the local bullion market on Saturday due to reduced off-take by stockists as well as lack of local buying support at the existing levels.
It claimed doctors were being paid 'for referring medical tests'.
Gold prices firmed up further and reclaimed the key psychological Rs 30,000 per 10 grams mark at the domestic bullion market on continued retail buying support amid buoyant overseas sentiment.
All major markets, including the Bombay Stock Exchange, National Stock Exchange, foreign exchange, government securities, overnight call money, bullion and commodity are closed on Monday for the second phase of Lok Sabha
Gold regained its crucial Rs 21,000 per ten grams level in the bullion market on Tuesday, on emergence of buying by retail customers for the current marriage season, while silver fell from the record level.
Gold jumps on good seasonal support; silver extends losses.
Gold closed at its highest level in nearly two weeks.
The turnover of 23 commodity exchanges rose by 57 per cent to Rs 11837.26 billion (Rs 11,83,726 crore) till May 15 of the 2010-11 fiscal as against Rs 7525.18 billion (Rs 7,52,518 crore) in the same period last year.
Analysts see steady long-term gains, say volatility to last for a short while.
Gold, silver rise on positive global cues.
Silver surged by Rs 1,575 per kg on higher speculative and industrial offtake.
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Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
Silver halted its four-day rising trend and declined by Rs 65 to Rs 41,000 per kg.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
The import tariff value is the base price at which the customs duty is determined.
Snapping its six-day, record-making journey, gold's dream to climb the 18-K level was shattered as the yellow metal tumbled on the bullion market in Mumbai on Friday on frantic selling by stockists triggered by a sharp fall in international markets.
Commodity exchanges -- MCX, NCDEX and NMCE will open for 'muhurat trading session' for at least 2 hours on Tuesday evening for all commodities on account of Diwali.MCX and NCDEX have fixed muhurat trading from 1815 to 1945 hrs, while NMCE from 1815 to 2040 hrs, the exchanges said.
Falling for the sixth straight day, gold prices drifted by another Rs 70 to trade at fresh two-month low of Rs 26,680 per ten grams at the bullion market on Friday, tracking a weak global trend amid slackened demand from jewellers and retailers.
International spot gold, which guides the domestic market, has continued its upwards trend in recent weeks. Bullion remains boosted by its safe haven status amidst the uncertain economic outlook.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
It's not only the gold but silver also glittered on the bullion market in New Delhi on Wednesday as the white metal surpassed its previous highs to scale another historic peak to close at Rs 27,375 per kilogram on buying by stockists supported by a sharp rally in overseas markets.
Silver ready declined Rs 160 to Rs 37,240 per kg.
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.
Traders said some buying activity by jewellers and retailers mainly kept gold prices steady.
Traders attributed persistent fall in gold prices to easing demand.
These contracts will expire on the last trading day of the month prior to the expiry of international bullion futures contract, be settled on expiry at import parity costing, delivery logic based on intention matching and rupee value contracts for importers and traders.
Most of the major markets, including Bombay Stock Exchange, National Stock Exchange are closed
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