Marketmen said besides low demand from jewellers and retailers at prevailing levels, a weak global trend as the dollar touched a five-year high, damping investor demand for the metal as a safe-haven, weighed on gold prices.
Traders said sentiment bolstered after gold jumped to a one-month high in overseas markets as expectations the US Federal Reserve will sustain stimulus hurt the dollar, and raised demand for precious metals as an alternate investment.
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Silver also edged higher by Rs 100 to Rs 36,100 per kg.
The biggest question looming over the summit is whether there will be a joint leaders' declaration in view of the sharp differences between the West and the Russia-China combine on the text to describe the Ukraine conflict in the document.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
The government on Friday hiked import tariff value on gold to $401 per 10 grams and on silver to $543 per kg in line with global price trends.
Gold prices declined by Rs 100 to Rs 28,200 per 10 grams at the bullion market on Friday
Gold lost its sheen with prices falling by Rs 120 to Rs 28,300.
Gold prices drifted by Rs 100 to Rs 28,400 per ten grams at the bullion market today as demand from jewellers and retailers eased at existing levels amidst a weak global trend.
the silver lining is that the men's 4x400m relay team is set to qualify for the World Championships as it is placed at 14th out of 16 to make the cut.
Indian wrestler Aman Sehrawat came up with a commanding performance to bag the gold medal in the Zagreb Open Ranking Series tournament, defeating China's world No. 7 Wanhao Zou 10-0 in Zagreb.
The International Monetary Fund (IMF) on Tuesday lowered India's economic growth projection for the current fiscal to 5.9 per cent from 6.1 per cent earlier. Yet India will continue to be the fastest-growing economy in the world. In its annual World Economic Outlook, IMF also lowered the forecast for 2024-25 fiscal (April 2024 to March 2025) to 6.3 per cent from the 6.8 per cent it had predicted in January this year. The growth rate of 5.9 per cent in the 2023-24 fiscal compares to an estimated 6.8 per cent in the previous year.
The daily requirement of medical oxygen in the state has witnessed a rise, it said, adding that the present demand is 400 metric tonnes.
The stage is set for the loading of cash into automated teller machines (ATMs) through the cassette-swap mode with an initial four-phased roll-out across 30 cities from June 1. The lockable cassette-swap will do away with the current practice of open-cash replenishment into ATMs. Cash-in-transit (CIT) firm personnel, tasked with loading cash into ATMs, will not have to touch it anymore. Cash-handling will be done by CITs at the cash centre, and the task of taking into account the amount of cash remaining from the last cassette-load will also be made simpler.
Gold closed at its highest level in nearly two weeks.
Hundreds of students from the Velammal Vidyalaya, the school where Gukesh studies, lined up at the airport at least one hour before his flight landed to greet the 17-year-old chess prodigy.
Indian para swimmer Suyash Jadhav on Wednesday secured the 2024 Paris Paralympics quota in the Men's 50m Butterfly S7 category with his brilliant performance at the previous Asian Para Games.
Gold continued its rising streak for the third day and rose by Rs 20 to Rs 27,860 per ten grams in New Delhi on Friday on festive season demand from jewellers and retailers amid a firming global trend.
Silver ready declined Rs 160 to Rs 37,240 per kg.
Pressure will be on Mirabai Chanu to nail the much-awaited 90kg snatch lift for a shot at that elusive Asian Games medal when the weightlifting competition gets underway in Hangzhou on Saturday.
At the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 20 each to Rs 30,180 and Rs 29,980 per ten grams, respectively.
Mark Wood and Alzarri Joseph scarred the likes of Prithvi Shaw and Sarfaraz Khan in Delhi's line-up in the first two games. Now, when these talented but low on confidence willow wielders face an attack comprising Trent Boult, KM Asif and Jason Holder they will have to negotiate speeds of mid-130 kmph.
Traders said the fall in gold prices was mostly in line with a weak trend in the global markets as signs of easing tensions in Ukraine curbed demand for the precious metal as a haven.
Traders said stockists selling in line with a weak global trend as an improving US economy prompted the Federal Reserve to cut stimulus, which reduced demand for precious metals as alternative assets.
Unheralded Abha Khatua equalled the women's shot put national record of 18.06m while winning silver in a surprise performance.
Traders said sustained buying by stockists and retailers amid a firm global trend where gold advanced as the drop to the lowest level in 34 months last week lured buyers mainly influenced the sentiment.
New Zealand bowling coach Shane Jurgensen will stay on with the team for the full tour of India later this year rather than returning to the country following the T20I series as initially planned.
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.
Silver also rebounded by Rs 570 to Rs 38,100 per kg on increased offtake.
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In line with overall trends, silver ready traded lower by Rs 350 to Rs 36,950 per kg and weekly-based delivery by Rs 480 to Rs 36,945 per kg.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
This was India's third gold of the competition -- India are now in second position in the medals tally, with a silver and two bronze medals.
The women's team of Ankita Bhakat, Simranjeet Kaur and Bhajan Kaur defeated Vietnam to win a bronze at the Asian Games in Hangzhou on Friday.
Antonio Watson won a thrilling World Championship 400 metres gold on Thursday.
A weak global trend on speculation that signs of a strengthening US economy might reduce demand for the precious metals as safe haven also influenced the sentiment, traders said.
In the coming days, unless Modi tones down the communal spiel, it will be clear that anxiety continues to drive his mind and clouds his judgment, observes Modi biographer Nilanjan Mukhopadhyay.
India's information technology (IT) sector will witness subdued hiring in 2023-24 as macro uncertainties impact demand environment, with clients either taking a pause on spend or stopping discretionary spend, say human resource experts. To begin with, unlike earlier years, the three large IT players TCS, HCLTech, and Wipro have not provided any new hiring targets for the financial year. And Wipro has said that its hiring target will depend on the demand environment.
The number of active terrorists in the valley is at its lowest in the last 34 years, General Officer Commanding of Chinar Corps Lieutenant General A D S Aujla said.
