Brisk buying for the ongoing marriage season and rising demand from industrial units resulted in this rise.
Gold plunged by Rs 340 to Rs 30,660 per ten grams in the national capital on Friday on fall in demand amid a steep decline in the global markets.
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Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
Traders said emergence of buying at existing lower levels to meet the ongoing marriage season demand mainly led to recovery in gold prices.
Globally, gold prices slipped by 0.26 per cent to $1,246.20 an ounce in early trade in London.
'AUM reached an all-time high of Rs 79.9 trillion in October 2025, driven by strong retail participation and record SIP inflows of Rs 29,529 crore from over 94.5 million contributing accounts.'
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
Spot silver rose 0.3 per cent to $15.35 an ounce.
The government on Wednesday hiked the import tariff value on gold and silver to $431 per 10 grams and $646 per kg, respectively, taking firm global cues.
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.
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The government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally.
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In Singapore, gold prices have risen by 0.46 per cent to $ 1,294.20 from $ 1,288 per ounce in last one fortnight.
Forecasters are bullish on gold in long term but for the short term, this market may have some more work to the downside. Normally, gold and silver are the destination of a 'flight to quality' during nervous markets, but that was not the case last month. The gold and silver markets fell in the final week of the commodity decline. Gold surpassed the $1000 mark briefly, but fell to the deflationary forces by declining $100 before recovering in the last full week of March.
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Retail investors are turning to the commodities market as an investment option. Rising commodity prices have resulted in these giving better returns than equity markets.
Government on Friday hiked the import tariff value on gold and silver to $433 per 10 grams and $699 per kg, respectively, taking into account the volatility in the precious metals' global prices.
Silver also found buying support and gained Rs 150 to Rs 37,350 per kg.
While gold prices declined by Rs 340 to Rs 30,200 per ten gram, silver dropped by Rs 540 to Rs 48,455 per kg on reduced offtake by jewellers and coin makers.
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Gold in global markets fell toward a one-week low as investors awaited the outcome of the US Federal Reserve's meeting and assessed the situation in Ukraine, which impacted the prices at domestic markets, traders said.
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Chennai's Velammal Vidyalaya, the alma mater of the youngest reigning World champion D Gukesh and Grandmaster R Praggnanandhaa, won the gold medal at the World Schools Team Chess Championship in Virginia, United States.
Nupur Sheoran (80+kg) and the seasoned Pooja Rani (80kg) signed off with silver and bronze medals respectively in non-Olympic weight categories.
Gold prices remained steady for the second straight day at Rs 27,250 per 10 grams at the bullion market on Tuesday.
In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 29,915 and Rs 29,765 per ten gram, while silver enquired at Rs 45,450 per kg.
The government on Monday reduced import tariff value on gold to $388 per 10 grams and on silver to $540 per kg, following global price trends.
Silver also dropped by Rs 550 to Rs 40,350 per kg.
Eight Indian shooters, including double Olympic medalist Manu Bhaker, have secured their places in the season-ending ISSF World Cup Final scheduled to be held in Doha, Qatar, from December 4 to 9.
Marketmen said besides low demand from jewellers and retailers at prevailing levels, a weak global trend as the dollar touched a five-year high, damping investor demand for the metal as a safe-haven, weighed on gold prices.
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Globally, gold fell by 0.24 per cent to $1,182.80 an ounce and silver shed 0.72 per cent to $15.89 an ounce in London.
Silver also edged higher by Rs 100 to Rs 36,100 per kg.
On the domestic front, gold of 99.9 and 99.5 per cent purity plunged further by Rs 375 each to Rs 28,350 and Rs 28,150 per 10 grams, respectively. Sovereigns continued to be asked around previous level of Rs 24,400 per piece of eight grams in scattered deals.
At the domestic front, gold of 99.9 and 99.5 per cent purity declined by Rs 20 each to Rs 30,180 and Rs 29,980 per ten grams, respectively.
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