Traders said emergence of buying at prevailing lower levels by jewellers and retailers mainly supported the upside in prices of precious metals.
A dedicated physical gold exchange could lead to standard gold pricing in India.
While gold zoomed up by Rs 410 to Rs 30,810 per ten gram, silver jumped up by Rs 990 to Rs 51,200 per kg on increased offtake by stockists on the back of firm global trend.
Traders said reduced offtake by stockists at prevailing higher levels and sluggish demand mainly kept pressure on both gold and silver prices.
Sentiment in gold remained bearish, falling for the second day in global markets, as investors weighed on when the US Federal Reserve will slow the pace of bond purchases, traders said.
Experts have started giving comments on provisions that the govt must make in Budget 2016-17.
Silver also plunged by Rs 1,430 per kg on poor offtake by industrial units and coin makers.
The government has retained 10% duty on import of the yellow metal.
Sentiment turned bearish after gold fell in overseas markets to a lowest level in three-week on speculation that the Federal Reserve will start to reduce bond purchases by the end of the year as the US economy improves, traders said. Gold in Singapore, which normally set price trend on the domestic front, fell by 0.8 per cent to 1,273.55 dollar an ounce, the lowest since July 17 and silver by 0.8 per cent to 19.37 dollar an ounce.
Equity investments are fruitful over the very long 20-year term.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
Being more financially savvy helps women choose the right balance between consumption spending vs investing for future and can hold them in good stead as life hands out various twists and turns along the way, says Piyush Baranwal
The RBI now brings in important and contentious changes directly through voluminous Master Directions, or Master Circulars
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The interest on foreign currency non-resident accounts has been liberalised to attract more deposits.
'Everyone is still trying to understand the quantum of impact demonetisation will have on the economy.'
The value of foreign portfolio investors' (FPI) holdings in domestic equities reached $654 billion in three months ended December 2021, a drop of nearly 2 per cent from the preceding quarter, according to a Morningstar report. This was largely on the back of a massive sell-off by foreign investors and a correction in the Indian equity markets, especially in the large and mid-cap sectors. "At the end of the quarter ended December 2021, the value of FPI investments in Indian equities fell to $654 billion, which was lower than $667 billion recorded in the previous quarter, a fall of around 2 per cent," the report noted.
If new goals have emerged, this is the time to make fresh investments.
It was an across-the-board rally, with all BSE sectoral indices advancing led by metal and auto.
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As the rupee falls to new lows, the author reviews India's external sector risk indicators.
The Budget touches a few highs and lows as far as personal finance is concerned, and one needs to be aware of them in order to optimise on one's investment plans.
India must take urgent measures like issuing sovereign guaranteed bonds and exempting FIIs from short term capital gains tax to stem the rupee's slide, India Inc said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
'China could place the currency on a par with global biggies. But it has to wait to be a serious challenger.'
The Reserve Bank on Thursday said its surplus (profit) for the FY'14 fiscal declined 14.75 per cent to Rs 52,679 crore (Rs 526.79 billion) as its interest income from investments in foreign sovereign bonds declined during the year even as its investments increased.
The president outlined the government's agenda in the coming financial year in his customary address to the joint sitting of both the Houses of Parliament.
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India's CAD -- the gap between inflow and outgo of foreign exchange -- widened to a record high of $88 billion or 4.8 per cent of the gross domestic product for the fiscal ended March 31, from $78.2 billion in 2011-2012, about 4.2 per cent of the Gross Domestic Product.
After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
NDA government has shunned populism.
As mostly sports-mad Mongolians cheer on the country's two medalists at the Rio Olympic Games, deepening economic troubles at home mean the new government cannot afford to pay its athletes.
The government has taken a number of steps to stem the depreciation of rupee including moderation in demand of non-essential imports and enhancing supply of capital flows, Finance Minister P Chidambaram said.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
Markets are also watching a meeting in Moscow of G20 finance ministers for signs of an orchestrated approach to the end of US money-printing, which could help defuse volatility in global markets.
A high CAD puts pressure on the rupee, which in turn makes imports expensive and fuels inflation.
Industry asked the government to be 'brave and bold' and said that it will rise to the occasion.
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Chidambaram also said the government will take steps to curb imports of gold, silver, oil and luxury goods.
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The rupee tumbled past 63.00 to the dollar, down about 2 per cent on the day and breaching the previous low of 62.03 hit on Friday despite a spate of measures in recent weeks by the central bank and government to defend it.
Reserve Bank of India Governor Shaktikanta Das tells Anup Roy, Raghu Mohan and Niraj Bhatt that it is time for banks to lower interest rates and start lending to cash-starved finance companies after due credit appraisal and proper risk assessment.
Finance Minister Arun Jaitley presented the Union Budget.
Roadshows will be held in Singapore, Hong Kong, London, New York and Boston, NTPC gained close to 1%.
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