Elavenil Valarivan strikes 10m air rifle gold; juniors continue dominance
Marketmen said increased buying by jewellers and retailers to meet the festive season demand amidst a firming global trend mainly kept precious metals higher.
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.
The tariff value on imported gold earlier stood at $398 per 10 grams, while on silver at $643 per kg.
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.
Silver also traded lower by Rs 400 at Rs 37,600 per kg.
Traders said apart from fall in demand from jewellers and retailers at prevailing levels, a weak global trend as the strengthening dollar eroded appeal for the precious metal, mainly influenced sentiments in New Delhi.
Silver also rebounded by Rs 530 to Rs 43,930 per kg on increased offtake by industrial units and coin makers. It had lost Rs 100 on Wednesday.
Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 on Friday.
Gold prices declined by Rs 100 to Rs 28,200 per 10 grams at the bullion market on Friday
Silver also traded higher by Rs 250 to Rs 41,000 per kg on increased offtake by industrial units.
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.
Sentiments remained firm in precious metals on sustained buying by jewellers and retailers to meet ongoing festive season demand.
Virdhawal Khade won the 100m freestyle final on Thursday, breaking his own Games record that was created in the heats., but had to settle for silver in the 100m butterfly.
After a year of modest returns, equity investors may anticipate gains of 10-15 per cent in Samvat 2082, which began on October 21. Although valuations have moderated from their peaks a year earlier, they remain above long-term averages, potentially limiting sharp upsides.
Defending champion Neeraj Chopra signed off with a silver medal in the Olympics men's Javelin Throw in Paris on Thursday. Pakistan's Arshad Nadeem was a class above the field, setting a new Games record of 92.97 metres for the gold medal.
Traders said weak demand at prevailing higher levels and retailers looking for more correction mainly kept pressure on gold and silver prices.
While gold fell by Rs 400 to Rs 28,000 per 10 grams, silver plunged by Rs 1,500 to Rs 43,100 per kg on poor offtake.
Tanvi becomes first Indian female in 17 years to secure world junior medal, Hooda misses out
Gold tumbled by Rs 310 to Rs 30,290 per ten grams in the national capital today on heavy sell-off by stockists and a weak global trend.
Gold in Singapore, which normally sets the price trend on the domestic front, fell by 1.4 per cent to $1,278.94 an ounce and silver by 2.8 per cent to $19.55 an ounce.
Traders said scattered buying by retailers amid a firm global trend, where gold climbed to six-month high, and escalating tension in Ukraine mainly boosted demand for the precious metals as a safe haven.
Also, the import tariff value -- the base price at which customs duty is determined to prevent under-invoicing -- in case of silver has been reduced to $644 per kg from $694 per kg earlier, a notification by the Central Board of Excise and Customs said.
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 29-year-old Indian athlete finished ahead of South Korea's Yu Gyumin and Kim Jang-woo, both Asian Championships bronze medal winners.
The government on Tuesday cut the import tariff value on gold and silver to $396 per 10 gram and $575 per kg, taking into account weak global trends.
Arya Borse and Arjun Babuta dished out a thoroughly dominant performance and outplayed China's reigning Olympic and World champion duo Zifei Wang and Lihao Sheng 17-7 to win the gold medal in the 10m air rifle mixed team event of the ISSF World Cup.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
'Our brothers and sisters are headed to Paris, hungry for medals. A billion of us will be watching them nervous and excited as our athletes set foot in the tracks and fields and courts and rings.'
The government on Friday slashed the import tariff value on gold and silver to $405 per ten gram and $642 per kg, respectively, in line with global trends.
The ongoing wedding season could not boost the trading sentiment and low demand from jewellers and retailers was witnessed, traders said, adding that a weak global trend because of strengthening of dollar also reduced appeal for the bullion.
Trading sentiment turned extremely bullish as gold and silver soared to a record levels in 31 years in global markets as inflation in China accelerated underscoring the challenge that central bankers worldwide face in combating rising prices.
Gold prices rose further by Rs 10 to Rs 27,500 per ten grams in the national capital today on the back of pick-up in buying by jewellers to meet wedding season demand.
A weak trend was noticed in Mumbai, as gold of 99.9 and 99.5 per cent purity slipped by Rs 60 each to Rs 30,540 and Rs 30,390 per ten gram respectively, while silver lost Rs 200 at Rs 45,600 per kg.
Traders said stockists selling against sluggish demand at prevailing higher levels amid weak global trend mainly kept pressure on precious metals.
Traders said apart from increased buying by jewellers and retailers to meet seasonal demand, a firming trend in global markets on increased tensions in Ukraine and weakening dollar mainly influenced precious metal prices.
Gold in New York, which normally sets price trend on the domestic front, traded marginally up 0.07 per cent to $1,291.80 an ounce.
Traders said sustained selling by stockists against sluggish demand and weakening global trend mainly kept pressure on precious metals.
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