Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
Silver ready rose by Rs 350 to Rs 33,850 per kg.
Tracking a weak trend overseas and low demand from domestic jewellers and retailers, gold prices plunged by Rs 200 to Rs 26,350 per ten gram in New Delhi on Monday.
Gulveer Singh shattered a decade-old meet record, high-jumper Pooja Singh delivered a personal best show, while heptathlete Nandini Agasara rose to the occasion after a setback as the trio added three more gold medals to India's kitty on the penultimate day of the 26th Asian Athletics Championships.
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The government has also raised the duty on gold ore/ concentrates/dore bars and silver dore bars ranging from 7 per cent to 10 per cent.
These contracts will expire on the last trading day of the month prior to the expiry of international bullion futures contract, be settled on expiry at import parity costing, delivery logic based on intention matching and rupee value contracts for importers and traders.
Silver followed suit and gained Rs 65 to Rs 39,600 per kg on increased offtake by industrial units and coin makers.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
Tariff value is the base price on which the customs duty is determined to prevent under -- invoicing.
Simranpreet Kaur Brar clinched her maiden senior international medal with a silver in the women's 25m pistol event.
Gulveer Singh clocked 28 minute 38.63 seconds to win the gold to claim the gold medal in the men's 10,000m race at the Asian Athletics Championships.
India's Mehak Sharma won a silver medal in women's +86kg category while Lovepreet Singh settled for a bronze in men's +110kg on the concluding day of the Commonwealth Weightlifting Championships
While gold surged by Rs 230 to Rs 28,480 per 10 grams, silver gained Rs 250 to Rs 44,600 per kg on increased offtake.
Dutchwoman Femke Bol announced on Friday that she is switching from the 400 metres hurdles to the 800m and will start competing in her new event next year.
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Silver advanced by Rs 150 to Rs 34,200 per kg on increased offtake.
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 15 each to Rs 30,050 and Rs 29,850 per ten gram, respectively.
After two days of gains, gold prices fell by Rs 60 to close at Rs 27,400 per 10 gram in New Delhi on Wednesday due to slackened demand from jewelers and retailers amid absence of cues from global markets.
Other celebs also brought drama and plenty of style to the Vogue event. From Neena Gupta's timelessness to Kusha Kapila's fringe sparkle, the night was a fashion dhamaka.
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.
Ritika bagged gold in the women's 80+kg category as India finished a creditable overall fourth in the Under-22 category of the Asian Boxing Championships in Bangkok on Monday.
India had a successful outing at the Archery World Cup Stage 2, bagging two gold medals, a silver and bronze, in Shanghai, on Saturday. The gold medals were won by Madhura Dhamangaonkar and the compound men's team, while the women's compound team won silver and the mixed team bronze.
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Traders said some local buying mainly helped both gold and silver prices to recover some ground.
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Traders said stockists buying for the ongoing marriage season mainly led the recovery in gold and silver prices.
eeraj Chopra endured a nightmarish outing at the World Championships' men's javelin throw finals to end a disappointing eighth at the World Athletics Championships in Tokyo.
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.
Tejaswani aggregated 31 after firing 50 shots in the eight-women final in the women's 25m pistol event.
Traders said fall in demand due to ongoing 'Sharads', an inauspicious fortnight in Hindu mythology for making fresh purchases mainly pulled down the precious metals.
Gold prices retreated sharply from its overnight new record high at the domestic bullion market on the back of heavy unwinding by stockists and traders, triggered by sharp fall in international markets.
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The government on Tuesday hiked the import tariff value on gold to $388 per 10 grams and that on silver to $487 per kg taking cues from global market.
Traders said restricted buying from jewellers and retailers mainly kept precious metals at previous levels.
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.
Silver followed suit, which traded lower by Rs 260 to Rs 38,540 per kg.
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.
Subdued volumes notwithstanding, the bullion market displayed a firm trend as both the precious metals, silver and gold, zoomed to new heights on stockists and speculators buying.
Oblique Seville, who finished last in the Paris Olympics final last year, emerged an easy winner with 9.77 -- to be placed 10th on the all-time list. Melissa Jefferson-Wooden claimed a dominant victory in the women's 100 metres in 10.61 seconds -- the fastest time ever run at a World championships.
The government on Wednesday increased the import tariff value on gold and silver to $408 per 10 gram and $520 per kg, respectively in line with global prices.
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