Traders said sentiment turned distinctly weak after gold prices slumped in global markets as Swiss voters rejected a plan for their central bank to accumulate bullion and oil extended its decline to five-year low, curbing demand for the precious metal.
The Madras high court has directed the Tamil Nadu Crime Branch-CID police to probe the case of 'missing' gold, which left the country's premier investigating agency red-faced.
The spot gold was sold below the landed cost due to the weak demand for the metal.
Speaking at Dubai Precious Metals Conference 2013, DMCC Executive Chairman Ahmed bin Sulayem said Dubai has risen as a major global gold and precious metals trading destination, with over 20 per cent of the world's physical gold imported and exported through the Emirate.
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
The underperforming metal for 2017 expected to return 17-20%
By December 2015, the total imports will touch 1000 tonnes.
Both the precious metals, gold and silver, on Monday rebounded in the national capital on emergence of buying at existing lower levels amid a firm trend in the Asian region.
It was reported that the new amnesty scheme would allow gold hoarders a chance to come clean on investment made using black money by declaring their possession and paying tax on it.
Silver also dropped Rs 560 to Rs 36,440 per kg.
While gold declined by Rs 50 to Rs 28,750 per ten grams, silver dipped by Rs 25 to Rs 42,075 per kg on lack of buying support.
Respect the yellow metal's breakout but treat it with more than ordinary caution, says Sonali Ranade
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Gold slumped by Rs 260 at the domestic bullion market on Thursday due to a fresh wave of profit taking by investors and traders amid reduced stockist demand.
Cases of arsenic poisoning are on the rise in areas near gold mines in Karnataka.
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Gujrathi and Erigaisi will represent India in the men's individual event while Koneru Humpy and D Harika will do so in the women's section.
Sushil Kumar made a glorious return to the international arena by clinching a gold medal at the Commonwealth Wrestling Championships in Johannesburg, South Africa on Sunday.
Gold prices firmed up after Tuesday's decline, mainly because of fresh buying by local jewellers at the domestic spot market, coupled with a better trend globally.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
'Modi knows the people here are opposed to this project, but he is using the might of government to push this port down our throats.'
Given prices of the latter are at an all-time high, it makes sense to opt for cheaper precious metals.
Gold prices surged by Rs 150 to trade at fresh three-month high of Rs 27,575.
British Geological Survey accessed in September 2011 produced a list of countries by production of gold.
Silver followed suit and lost Rs 350 at Rs 43,950 per kg on reduced offtake by industrial units and coin makers.
Sarabjot's effort meant that India swept both the men's and women's 10m air pistol crowns
The inflows meant assets under management of gold ETFs climbed by over 4 per cent to Rs 13,503 crore at the end of August from Rs 12,941 crore at July-end.
Imports in 2016 expected to be lowest in 7 years but experts don't rule out a revival in demand if the yellow metal's price falls
Gold prices fell further by Rs 75 to Rs 27,025 per ten gram at bullion market in New Delhi on subdued demand even as the metal strengthened overseas.
Gold hits Rs.11,360, thanks to rate cuts by US Fed Bank and a languishing dollar.
Traders said reduced offtake by stockists at prevailing higher levels and sluggish demand mainly kept pressure on both gold and silver prices.
Traders said gold prices surged on hectic buying by stockists for the marriage season and weak rupee against the dollar, making the precious metal costlier.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
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At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
A firm overseas trend on Thursday helped gold recover by Rs 100 to Rs 17,300 per ten gram in the bullion market here on fresh buying by stockists amid marriage season demand.
Gold rises on firm demand, global buoyancy
Gold gained Rs 50 and touched a new peak of Rs 16,850 per 10 gram.
The precious metal is understood to have arrived in large quantities through official channels, including direct import by export-oriented units, in the last week of March.
Gold import from the UAE at a lower rate of duty -- in terms of an agreement -- has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
Gold prices rose further by Rs 80 to Rs 29,480 per 10 grams in the national capital today on sustained buying by stockists and retailers.
