In February, there was no gold import at all, while it stood at 21 tonnes in March 2008 and at 23 tonnes in February last year. Gold on Tuesday declined by Rs 50 to Rs 15,200 per 10 gram level in the spot markets from its previous day's close.
Earlier this month, RBI had raised loan to value ratio to 75 per cent from 60 per cent earlier.
Surging gold prices set yet another record of Rs 15,800 per 10 gram in the national capital on Thursday in line with the surging global bullion markets on speculation that the global recession will deepen further.
Gold prices on Tuesday drifted by Rs 70 to Rs 27,050 per ten grams at the bullion market owing to slackened demand.
Gold prices rallied by Rs 220 per ten grams to resume at Rs 14,275 on the bullion market in Mumbai on Wednesday on hectic stockists buying triggered by higher New York advices.
"Despite the marriage season being on, almost all gold ornament shops have reported a sharp fall in their sales," said P Satya Narayan Senapati, president, Berhampur Jewellery Association. At the peak of the marriage season, the gold trade in Behrampur reached around Rs 1 crore (Rs 10 million) per day earlier. Given the uptrend and volatility in the price of gold, there is scanty demand for the yellow metal and only need-based buying by the customers.
Gold prices recovered by Rs 50 to Rs 26,800 per 10 grams at the bullion market on Friday.
Gold prices went up by Rs 130 to Rs 26,930 per 10 grams at the bullion market in New Delhi on Monday on increased buying by jewellers and retailers amid ongoing wedding season demand.
Gold prices fell by Rs 80 at Rs 27,150 per 10 grams at the bullion market on Wednesday.
Gold price softens as demand dips.
Silver coins shot up by Rs 1,000 to Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.
Silver also traded lower by Rs 400 at Rs 37,600 per kg.
Gold advanced one per cent to $1,212.21 an ounce in Singapore.
Silver also declined by Rs 250 to Rs 35,400 per kg on reduced offtake by industrial units.
Silver also fell by 0.5 per cent to $15.68 an ounce.
Silver, however, remained steady at Rs 37,200 per kg.
Silver followed suit and shed Rs 100 to Rs 36,050 per kg.
After rising for two days, gold prices went down by Rs 100 to Rs 26,850 per 10 grams at the bullion market on Tuesday, tracking a weak global trend amid slackened demand from jewellers.
The yellow metal dropped Rs 400 at Rs 11,550 per 10 gram, a level last seen on Sept 11, on brisk selling by stockists and investors after the Bombay Stock Exchange benchmark Sensex recorded a second steepest fall in its history. The stock markets nosedived and bullion prices collapsed after the Reserve Bank of India kept interest rates unchanged and downgraded the national economic growth to 7.5 per cent.
At a media briefing in Hyderabad, Khatua said the bullion accounted for 42 per cent of commodity trade, and agriculture 23 per cent. He expressed hope that the government would lift the ban on eight commodities -- rubber, chana, soyoil, potato, rice, wheat, tur and urad -- shortly as prices had declined in the recent months. Wheat, for instance, is selling lower than the minimum support price.
Silver also shot up by Rs 400 to Rs 34,400 per kg.
Select markets like the Bombay Stock Exchange, National Stock Exchange, Foreign Exchange and the Money Market will remain closed on Friday.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Silver also recovered by Rs 250 to Rs 37,300 per kg.
Silver also drifted by Rs 450 to Rs 37,650 per kg.
The Bill provides comprehensive legislation to prohibit unregulated deposits, with punishment for those promoting such schemes or defaulting on repayment.
Silver also rebounded by Rs 570 to Rs 38,100 per kg on increased offtake.
Marketmen said the precious metal sparkled as an secondary investment option in global as well as in domestic markets amid a plunge in stock markets following deepening of credit crisis in the US. Standard gold and ornaments which started on a promising note with a Rs 1,000 each higher at Rs 12,915 and Rs 12,765 per 10 gram, continued to rise and settled Rs 1,205 each higher at Rs 13,120 and Rs 12,970 per 10 gram respectively.
old tumbled by Rs 250 to over six-week low of Rs 26,150 at the bullion market today.
In Delhi bullion market, gold fell by Rs 295 to trade at Rs 11,350 per 10 gram in evening trading, a level last seen on January 21, this year.
Gold prices recovered by Rs 210.
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.
Soon, you will see the birth of the hottest commodity futures in the world -- diamond derivatives.
Uncertainties like the bankruptcies bill, rising non-performing accounts at banks and political uncertainty are expected to drive gold demand higher in India.
Gold lost its sheen with prices falling by Rs 120 to Rs 28,300.
Gold prices on Monday drifted by Rs 105 to trade at a three-week low of Rs 27,225 per ten grams.
Silver also eased by Rs 50 to Rs 38,800 per kg.
Money invested in real estate, for income and capital growth, provides stable and predictable returns similar to bonds offering a regular return on investment, if the property is rented, as well as capital appreciation.
Globally, gold rose 0.83 per cent to $1,290.90 an ounce and silver was up 0.79 per cent to, $17.92 an ounce in London in early trade on Tuesday.
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