The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
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.
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.
Silver followed suit and lost Rs 350 at Rs 43,950 per kg on reduced offtake by industrial units and coin makers.
Traders said slackened demand from jewellers and appreciating rupee, which made import of precious metal cheaper, weighed on gold prices but a better trend in the global markets restricted the losses.
Silver gained Rs 350 to Rs 36,550 per kg on increased offtake.
The precious metal has now lost Rs 280 in last three days.
Gold prices rose for the third straight day.
Gold prices dropped Rs 130 to Rs 29,450 per ten gram in the national capital on Tuesday as demand from jewellers and retailers declined at prevailing levels amid a weak global cues.
Silver ready also moved up by Rs 50 to Rs 38,800 per kg while weekly-based delivery fell by Rs 160 to Rs 38,250 per kg on lack of buying support from speculators.
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.
The country's largest carmaker Maruti Suzuki India (MSI) on Monday said it has increased prices of its entire product range, except Celerio, by up to 1.9 per cent with immediate effect. In a regulatory filing, the company noted that it has taken the decision to hike prices due to an increase in various input costs. The weighted average price rise in ex-showroom prices (New Delhi) across select models is 1.9 per cent, it added. This is MSI's third price hike this year.
A weak trend was noticed in Mumbai, as gold of 99.9 and 99.5 per cent purity slipped by Rs 60 each to Rs 30,540 and Rs 30,390 per ten gram respectively, while silver lost Rs 200 at Rs 45,600 per kg.
Gold prices fell by Rs 80 at Rs 27,150 per 10 grams at the bullion market on Wednesday.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
Gold prices declined by Rs 30 to Rs 27,370 per ten gram in New Delhi on Friday as demand from jewellers retailers dried up at prevailing levels to some extent amidst a weak global trend.
Silver coins remained steady at Rs 52,000.
Silver dropped by Rs 175 to Rs 34,550 per kg.
Silver rose by Rs 50 to Rs 36,050.
Globally, gold in New York, which normally determines price trend on the domestic front, fell 1.18 per cent to $1,198.50 an ounce in Tuesday's trade as strengthening dollar curbed demand for the precious metal.
Traders attributed the rise in the precious metal prices to emergence of buying at prevailing levels by stockists and retailers to meet the ongoing marriage season demand.
Traders said a weakening global trend as the outlook for improving economic growth and strengthening of the dollar curbed demand for the precious metal as a safe-haven mainly kept pressure on gold and silver prices.
Silver, however, ended steady at Rs 36,000 per kg.
Globally, gold fell by 0.24 per cent to $1,182.80 an ounce and silver shed 0.72 per cent to $15.89 an ounce in London.
Silver remained under selling pressure and lost Rs 200.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Silver also declined by Rs 250 to Rs 35,400 per kg on reduced offtake by industrial units.
Gold prices plunged by Rs 600 to Rs 26,500 per 10 grams in the national capital today after the precious metal slumped to the lowest level since 2010 in global markets as the strengthening dollar eroded demand for the commodity.
The Badrinath-Kedarnath Temple Committee on Wednesday dismissed Jyotirmath Shankaracharya Swami Avimukteshwaranand's allegations that 228 kg gold bought for lining the Kedarnath temple's internal walls is missing, and asked him to approach authorities if he had any evidence.
Traders said appreciating rupee against the American currency made imports of dollar denominated precious metal cheaper, which mainly kept pressure on bullion prices.
Gold prices surged by Rs 150 to trade at fresh three-month high of Rs 27,575.
'We expect market consolidation and recommend buying during market dips.'
Gold prices rose further by Rs 10 to Rs 27,500 per ten grams in the national capital today on the back of pick-up in buying by jewellers to meet wedding season demand.
The bullish outlook for gold is seen as a trigger for silver to perform better going ahead.
Traders said apart from increased buying by jewellers and retailers to meet seasonal demand, a firming trend in global markets on increased tensions in Ukraine and weakening dollar mainly influenced precious metal prices.
Gold prices declined by Rs 50 to Rs 28,270 per ten grams in New Delhi on Monday on slackened demand from jewellers at prevailing levels amid a weak trend in global markets.
Bullion merchants said sustained buying by stockists on the back of pick-up in seasonal demand and a firm global trend mainly led to the rise in gold and silver prices.
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