Subdued demand from jewellers in the domestic market and shifting of funds towards the surging stock markets also weighed on gold prices.
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Riding on this change in aspirations, V-Mart a value retail chain is growing close to 22 per cent year-on-year, and is aggressively looking to expand its footprint, with 60 new stores this year.
Traders said sentiment remained weak after gold dropped to a seven-month low and silver slumped to the lowest since June 2013 in global markets as speculation that US borrowing costs will rise sooner-than-expected strengthened the dollar, eroding demand for precious metals as alternative investment.
NITI Aayog has not said what the reasons were for having achieved or not having achieved what was sought to be achieved, or what lessons can be learned for the future, points out Aakar Patel.
In Mumbai, gold of 99.9 and 99.5 per cent purity rebounded by Rs 170 and Rs 190 to Rs 30,650 and Rs 30,520 per ten grams, respectively. Silver jumped by Rs 1,050 to Rs 46,800 per kg.
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Traders said stockists booking profits at prevailing higher levels following a rise of Rs 350 against sluggish demand mainly kept pressure on gold prices.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
Gold prices jumped by Rs 470 to Rs 30,670 per ten gram in the national capital on Monday on brisk seasonal demand amid a firm global trend.
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Silver prices also jumped by Rs 500 to Rs 45,000 per kg on increased offtake by jewellery fabricators and industrial units.
Sentiments remained firm in precious metals on sustained buying by jewellers and retailers to meet ongoing festive season demand.
Sentiment remained bearish as gold fell in global markets after better-than-expected US economic data backed the case for the Federal Reserve to slow stimulus, traders said.
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While gold zoomed up by Rs 410 to Rs 30,810 per ten gram, silver jumped up by Rs 990 to Rs 51,200 per kg on increased offtake by stockists on the back of firm global trend.
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Greenwashing is making misleading or false environment-friendly claims about a product. Consumers in India currently do not have any way of telling whether a claim is authentic or greenwashing. And one never hears of action against any company for making false claims of being environment-friendly.
Traders said sustained buying by stockists and retailers for the ongoing marriage season mainly led an upward trend in precious metals.
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Black Friday sales in India received a good response as brands dropped their prices making customers queue up outside stores where discounts were steeper. Discounts were offered both online and offline. Most of the international brands in India offered discounts under the Black Friday Sale banner. The Black Friday Sale started in the US on the Friday after Thanksgiving Thursday. The day typically marks the beginning of the Christmas shopping season ahead of the festival.
Gold prices plunged by Rs 410 to trade at over two-week low of Rs 27,790 per 10 grams at the bullion market on Monday.
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It's addictive. It's entertaining. It's gorgeous. Once bitten by the K-drama bug, there's no going back.
Silver also gained for the third-day and jumped by Rs 500 to Rs 43,000 per kg on increased offtake by industrial units and coin makers.
Silver followed suit and traded higher by Rs 200 at Rs 34,200/kg.
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Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
Gold zoomed by Rs 425 to Rs 31,150 per ten grams in the national capital today on frantic buying by stockists and investors on strong global cues.
Silver also dropped for the fifth straight day and declined further by Rs 375 to Rs 39,250 per kg on reduced offtake by industrial units and coin makers.
Silver also eased by Rs 50 to Rs 38,800 per kg.
Silver followed suit and lost Rs 645 at Rs 42,880 per kg on reduced offtake by industrial units and coin makers.
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China said on Thursday that "progress" has been made in facilitating the return of thousands of Indian students stranded back home due to Beijing's COVID visa bans and efforts were on for "early return" of the first batch.
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Singapore-based fashion technology startup Zilingo on Friday said it has sacked Indian-origin co-founder and CEO Ankiti Bose following an independent forensic audit into complaints of serious financial irregularities. On March 31, Bose was placed under suspension following complaints of alleged discrepancies in the company accounts. "Following an investigation led by an independent forensics firm that was commissioned to look into complaints of serious financial irregularities, the company has decided to terminate Ankiti Bose's employment with cause, and reserves the right to pursue appropriate legal action," Zilingo said in a statement.
Lakme Fashion Week Gen Next designer, Chandrima Agnihotri, tells Rediff.com what she has planned for her runway debut.
FSN E-Commerce Ventures, the parent of Nykaa, has had a roller-coaster ride since listing last November. The initial public offering (IPO) was priced at Rs 1,125 apiece, and the stock listed at a 96 per cent premium, closing the first day at Rs 2,205 apiece. It subsequently hit a high of Rs 2,573 in late November, but has seen steady selling since, hitting a low of Rs 1,208 in May.
The prolific fashion designer had given the Chanel's Paris haute couture show a miss in January due to ill health.