Around Diwali, the premiums had gone up to as much as 3.5 per cent.
Traders have used this as an opportunity to stock up silver.
Reversal is because of strengthening rupee, subdued demand, and lack of reasons for bulls to continue positions and speculation of reduction in import duty.
In India 24-carat gold is used mostly in coins and bars
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
Duty changes in the Budget make refining unviable.
India's gold holding in forex reserves rose to 560.3 tonnes by the end of March 2018.
Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
The Modi government's decision to demonetise Rs 500 and Rs 1,000 banknotes will drive up interest in the bullion market
The gold market has remained under pressure.
In the past two years, investors in gold have lost money.
The rise was due to a sharp fall in prices, which spurred demand.
Irrespective of the global movement, gold prices in India are nearing the level of Rs 34,000 per 10 grams in the physical markets.
Round-tipping creates the opportunity for exporters to source funds at a much cheaper cost, which they divert to some other business.
Marriage season will end in the next two months and import growth is likely to taper off
Gold import in the December quarter is estimated to come down.
Those selling ornaments with lower purity might now offer hefty discounts in order to get rid of non-hallmarked stocks
While an import duty is ruled out, a small excise duty on jewellery manufacturing can be on the cards.
By December 2015, the total imports will touch 1000 tonnes.
In the second half of April, the discount on gold came down to $3 an ounce.
Gold import this financial year is estimated at 945 tonnes.
Veterans recall they haven't seen gold falling for 3 years in a row.
BSE proposes two models for making gold trading and investment transparent
The price of gold in India seems to have bottomed out.
Levy in India one of the highest in the world; finance minister urges banks to tell customers not to invest in the metal.
Recent recovery in the white metal was reflected in a falling gold to silver price ratio.
November IIP data show a fall of over 20%, led by automobiles, gems & jewellery and home appliances; turnaround seen as unlikely.
Imports in 2016 expected to be lowest in 7 years but experts don't rule out a revival in demand if the yellow metal's price falls
Silver is emerging as a stronger bet for the long-term.
Report says gold being exported by persons of Indian origin and routed through Dubai
In the past 18 months, the department of revenue intelligence has seized 50 containers of cigarettes, valued at nearly Rs 200 crore
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
From farmers to cement, steel, logistics, transportation and automobiles, the back-end is struggling to get going due to the liquidity crisis.
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