In Delhi, gold of 99.9 and 99.5 per cent purity gained Rs 110 each to Rs 27,210 and Rs 27,010 per 10 gram, respectively.
The government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally.
The risk inherent in gold buying at any point explains why funds dedicated to the metal, here and abroad, are not promoted heavily.
Globally, gold climbed $12.10, or 1 per cent, to $1,220.40 an ounce.
Traders had accumulated stocks when the FM hinted of a duty hike.
Traders said stockists buying for the ongoing marriage season mainly led the recovery in gold and silver prices.
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged further by Rs 375 each to Rs 28,350 and Rs 28,150 per 10 grams, respectively. Sovereigns continued to be asked around previous level of Rs 24,400 per piece of eight grams in scattered deals.
Gold prices fell by Rs 30 to Rs 27,160 per 10 grams at the bullion market on Saturday.
In a tough final bout, the 22-year-old Indian boxer didn't get bogged down and kept landing his punches even as the Uzbek tried to overpower him.
After a rally in gold that led to the international prices zooming to $1030 an ounce, will gold price reverse direction based on Wednesday's price level of $940?
India will also launch a sovereign gold bond to lower physical demand.
Retail investors are turning to the commodities market as an investment option. Rising commodity prices have resulted in these giving better returns than equity markets.
Silver also surged by Rs 1,050 to Rs 35,500 per kg on increased offtake by industrial units and coin makers.
Gold prices rose further by Rs 210 to Rs 27,210 per ten gram in New Delhi on Wednesday on increased buying by jewellers and retailers to meet upcoming festive and wedding season demand amid a firming global trend.
Discounting the argument that gold is a hedge against inflation, the senior-most Deputy Governor wondered how a hedge instrument can offer as high as 37 per cent return year after year.
A strengthening rupee following a sharp surge in the inflow of foreign money from investors and "illegal imports" were among some of the reasons for the fall.
Indians love affair with gold will never end. Despite a lull, there is heavy demand in the market.
Investors will get the money directly in their demat accounts or through their brokers. They won't get physical delivery any more.
Last year on Dhanteras, the precious metal stood at Rs 31,400 per 10 grams.
Among the most valuable sources for gold mining production data, besides reports from mining companies themselves, are the Raw Materials Group in Solna, Sweden; Canada's Metals Economics Group in Halifax, Nova Scotia; and Intierra Resource Intelligence, based in Perth, Australia.
RBI has permitted Axis Bank, Kotak Mahindra Bank, IndusInd Bank and Yes Bank to import gold.
However, silver coins gained Rs 500 to Rs 73,000 for buying and Rs 74,000 for selling of 100 pieces.
Gold exchange-traded funds (ETFs) have further lost favour among Indian investors.
What are the tax implications of investing in gold bonds issued by the State Bank of India? Is there any tax liability associated with investing in gold? Read on to find out.
Apart from archery, the Indians also bagged two medals in shooting.
Gold ($1,895 an ounce) superseded platinum ($1,872 an ounce) for the first time on September 5, 2011, due to rising investment demand of the yellow metal as a hedge against the global economic uncertainty.
How should investors go about investing in gold and silver? Here are some simple rules.
Marketmen said the persistent fall in gold prices to increased selling by selling after the Reserve Bank eased curbs on import of the yellow metal, allowing select trading houses, in addition to already permitted banks, to procure the precious metal to boost exports.
A large number of successful IPOs ensured that the total investor wealth, measured in terms of cumulative valuation of all listed shares, rose by nearly Rs 6 lakh crore during the year to Rs 106.23 lakh crore
Sri Lanka, Thailand and Singapore are the latest hotspots as authorities crack down on travellers from Dubai.
Buying had been muted in the past few weeks.
Deposit certificates will also be exempt from capital gains tax.
old tumbled by Rs 250 to over six-week low of Rs 26,150 at the bullion market today.
In 2013, the world gold exports were $283 billion approximately.
The duty, which is charged at the rate of 10 per cent, is payable in currency of the nation where the gold was bought.
India celebrated Dhanteras, the biggest gold buying festival, followed by Diwali, when scarcity of the yellow metal and high prices pushed consumers to buy silver and diamond jewellery.
Silver managed to recover some grounds.
Gold is one of the world's most sought after metals.
