This was because of the closure of retail shops and factories after the nationwide lockdown was imposed to prevent spread of Covid-19, and a sharp increase in the metal's price.
Equity benchmark index Sensex on Wednesday crashed over 900 points to sink below the 73,000 level due to widespread selling pressure amid a sharp fall in smallcap and midcap indices. Besides, deep losses in utility, energy and metal stocks and recent selling by foreign investors added to the gloom, analysts said. Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
The metal might see-saw between $1,200 and $1,400. A breakout beyond either of these limits could result in a decisive trend.
Gold-silver ratio indicates more upsurge possible for the white metal.
In business too, losing finalists really get nowhere, get nothing. It is purely 'winner takes all', observes Sandeep Goyal, managing director, Rediffusion.
The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
Gold loans are a quick, easy and low-cost way to meet your immediate and emergency financing needs, but do ensure that you entrust your gold in safe hands after thorough due diligence, suggests Gaurav Gupta, founder and CEO, MyLoanCare.in.
'We need more support from states to back budding talents from not-so-affluent families.'
Dealers anticipated a sharp rise in jewellery demand this wedding season, but then came demonetisation.
Contrary to popular belief, there is more to the Nickel futures market than the precious metals like Gold and Silver
The scheme, touted as a panacea to burgeoning CAD, was a huge flop that fostered a spike in smuggling and allowed several Gitanjali-like players to make a killing
The rally in silver may continue if the global economic recovery remains on course.
To help mobilise idle gold in households.
Investors looking to make a quick buck from the yellow metal should hold on for now.
Seizures in poll-bound states see sharp rise since implementation of Model Code of Conduct.
Customs officials are busy at ports and airports, scanning passengers to ensure that COVID-19 virus-affected people are traced. So, officials are not able to focus much on baggage checking. This could lead to more gold getting smuggled into the country as luggage check at airports is now random unlike earlier where every bag was checked thoroughly.
Consumers have to watch out for four marks on hallmarked gold jewellery: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.
Globally, gold added 0.4 per cent to $1,163.73 an ounce in Singapore.
Gold prices staged a smart rebound to surpass the psychologically important Rs 28,000 milestone.
India's gold obsession needs a correction.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
According to officials, this year there has been a three-fold increase in the total seizure, which was Rs 322 crore in 2021, Rs 347 crore in 2022 and Rs 1,021 crore so far in 2023.
Tokyo Paralympics silver medallist IAS officer Suhas Lalinakere Yathiraj bettered his bronze from the last edition by winning gold in the SL4 final. Sukant Kadam took home the bronze in the same event.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
India, the world's largest consumer of gold, has imported 393.68 tonnes of the yellow metal during the April-September period of this year
Gold prices may trade higher in the coming days because of weaker dollar and speculations of US Fed rate cut.
The government was also faced with problems on its balance of payments. It took steps to conserve declining foreign exchange reserves, and began to regulate the production, supply and distribution of gold. It banned forward trading in the yellow metal in November 1962, and introduced gold bonds as well, reveals the RBI's annual report for the year ending June 1963.
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Returns on godl have depleted in past few years,
Investors should allocate 10 to 15 per cent in their portfolios to gold through sovereign gold bonds.
You can use gold as a financial instrument to diversify your portfolio into hedging against uncertainties in the market, but for ambitious returns, you must explore opportunities in other asset classes such as equities, debts and real estate, says Adhil Shetty, CEO, BankBazaar.com.
Attractively low prices, rising demand and a favourable ratio to gold point to better days ahead for the white metal.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
Snapping its two-day losing streak, gold prices on Wednesday rebounded by Rs 120 to Rs 28,420 per ten grams at the bullion market in New Delhi on revival of buying by jewellers to meet ongoing wedding season demand even as metal retreated overseas.
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.
From its March 2020 low, Bitcoin has gained a massive 474 per cent and has surged 214 per cent year-to-date.
Krrish, Ravi enter semis of Asian Youth & Junior Boxing Championships
Govt cannot assume it will solve current account problem.
