India may be the largest consumer of gold in the world; but not only that the quantity of gold that the country produces is dismal, but it plays no influencing role in determining the pricing of the yellow metal.
India's shooters struck it rich at the Commonwealth Games on Friday morning, winning three gold medals and a silver.
Promising Indian shooter and a multiple gold medallist at junior nationals, Kynan Chenai clinched the trap gold medal in the Singapore Open Shooting Championship in Singapore.
He left behind Ashok and Ronak Pandit in the individual event of the 49th National Shooting Championship.
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Gold prices touched a new peak of Rs 6,830 per ten gram on the bullion market today on brisk buying by stockists to meet the ongoing festival and marriage demand, discounting reports of a weak international trend.
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The ace shooter won the men's 25m centre fire pistol and led India to team gold in the event.
Anjali Bhagwat and Deepali Deshpande continued to prove their mettle in women's air rifle event of the 47th National Shooting Championship.
Sindhu had won a gold in the mixed team event at the CWG in 2018, but a medal in singles has eluded her since her Games debut.
The rupee has been witnessing an unprecedented plunge in its value as it dropped to an all-time intra-day low of 68.75.
India's boxers Nitu Ghanghas won the women's 48kg Commonwealth Games title before Amit Panghal stormed to the gold medal in the men's 51kg, in Birmingham, on Sunday.
Preeja Shreedharan fetched the second gold for India in the women's 3000m race as India grabbed six medals on day two of the third Asian Indoor Athletics Championships in Doha on Friday to swell the medal tally to 10.
The CISF shooter erased her own record by logging 676.3 points to win gold in the 25 metres pistol event in the 47th Nat Shooting championships.
While Jaspal Rana won a bronze medal in the Standard Pistol competition in Melbourne.
Star shuttlers, including P V Sindhu, will chase individual gold medals but doubles would also under the spotlight as India would aim to retain the mixed team title and continue their consistent run at the Commonwealth Games.
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Gold prices are likely to decline further to around Rs 24,500 per 10 grams by December if the rupee continues to rule at the current level.
With Indian shooters Manish Narwal and Singhraj Adhana winning the gold and silver respectively in mixed pistol 50m SH1 event at the ongoing Tokyo Paralympics on Saturday, Olympic Gold Medallist Abhinav Bindra congratulated them for registering their name in the history books.
Gold recovered 0.5 per cent or $2.90 in the end of last week but the chances of further weakening of dollar has cast a shadow on its future price.
Gold prices in Mumbai hit a five-month low at Rs 8,800 (99.5) and Rs 8,850 (99.9) per 10 gram on Thursday following a decline in the global prices and falling demand in the domestic market.
India's long jump ace's optimism springs from consistency in her jumps.
He won the gold in the 77 kg category and improved upon two of his meet records - in clean and jerk and total lift, at the SAF Games.
It was gold rush for India on the opening day of the South Asian Games with the country's wrestlers, swimmers and weightlifters showing their regional dominance by making a near clean sweep of top honours on Saturday. India clinched 14 gold and five silver medals on a highly productive day to top the medals tally with an overall count of 19.Sri Lanka, despite having a higher overall medal count of 21, occupied the second spot in the table owing to alesser tally of gold medals (4). Wrestlers were the stars for India, grabbing as many as five gold medals followed by the swimmers who clinched four gold and three silver medals. The weightlifters added three gold medals to the tally after the cyclists had opened India's account with two gold and an equal number of silver medals in the morning. Three women and two male grapplers finished on top of the podium as the proceedings went on expected lines on the opening day of the competitions.
Surpassing earlier records, pure gold (99.9) purity strode to historic-highs of Rs 6,140 per ten grams at the bullion market on Saturday.
The decline in gold imports has helped in narrowing the country's trade deficit to $106.84 billion during the eight-month period under review as against $133.74 billion in the year-ago months.
Indians win 2 gold, 1 silver, 2 bronze at Asian Indoor Games
India's lifters did well to pick two bronze medals in the weightlifting competition at the Afro Asian Games.
The Indian ace beat back a strong challenge from China's Du Li and Japan's Hiromi Misaki to win the women's air rifle gold.
Hockey India (HI) secretary general Bhola Nath Singh on Saturday claimed that India will definitely win gold at the 2028 Los Angeles Olympics if they miss out on the yellow metal in Paris next year.
Manish Narwal and Rubina Francis won the 10m P6 air pistol mixed team event to clinch India's third gold medal at the World Shooting Para Sport World Cup in Chateauroux, France on Wednesday.
Gold prices have surged nearly 18 per cent, so far, in the calendar year 2022 (CY22) to around $2,050 per ounce against the backdrop of the ongoing Russia-Ukraine war and there is more headroom over the next few months, believe analysts at Goldman Sachs who expect the yellow metal to become costlier by another 25 per cent to $2,500 an ounce by the year-end. Goldman Sachs, earlier, had raised its 12-month gold price forecast to $2,150 per ounce considering that an impending US growth slowdown would lead to increased concerns of a US recession and incentivise 300 tonnes of inflows into gold ETFs. At the beginning of the Russia-Ukraine tensions, Goldman Sachs had suggested the resultant rally in commodities could deteriorate the developed market (DM) growth-inflation mix, increase concerns of a American recession, and push gold ETF inflows to 600 tonnes and, in turn, lift gold prices to $2,350 an ounce in 12 months.
Gold rises on firm demand, global buoyancy
