India's dream run in the men's compound events of the World Archery Championships ended on a disappointing note on Monday as the gold-winning team of Rishabh Yadav, Aman Saini and Prathamesh Fuge crashed out of the individual quarter-finals.
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The interest on foreign currency non-resident accounts has been liberalised to attract more deposits.
A weak global trend on speculation that signs of a strengthening US economy might reduce demand for the precious metals as safe haven also influenced the sentiment, traders said.
In a broad daylight robbery, two unidentified men disguised as delivery boys looted a jewellery store in Ghaziabad's Link Road area, fleeing with approximately 20 kg of silver ornaments and 125 grams of gold ornaments.
Vijayveer Sidhu won India's fourth gold medal at the ISSF World Cup after he emerged victorious in the men's 25m rapid-fire pistol event in Buenos Aires.
The government on Friday slashed the import tariff value of gold to $535 per 10 gram and reduced the rate for silver marginally to $1,003 per kg due to weakening global prices of precious metals.
The men's team, who qualified as the fourth seed, put up a near flawless show to defeat their Dutch opponents.
Suruchi Inder Singh produced yet another sterling performance in the 10m air pistol event in Lima, Peru, to win her second consecutive ISSF World Cup gold medal.
The tariff value, which is released every fortnight, is the base price on which the customs duty is determined to prevent under-invoicing.
Adriyan aggregated 626.7 after 60 shots and missed out on gold by just 0.3 points to Sweden's Jesper Johansson.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Selling pressure gathered momentum after gold in London fell for a fifth session as the dollar strengthened, curbing demand for the metal as an alternative investment. Marketmen said the metal lost its demand among retail customers and moved along with the global trend.
If the two-time Olympic medallist Indian wins gold on September 18, the day of the finals, he will become the third men ever to win the world championships javelin title in two consecutive editions.
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Silver ready declined Rs 160 to Rs 37,240 per kg.
Gold prices maintained an upward march for the third consecutive day by rising Rs 290 to Rs 30,490 per ten grams in the national capital on sustained buying by stockists amid a firm global trend.
While gold plunged by Rs 505 to Rs 30,380 per ten grams, silver fell by Rs 280 to Rs 49,300 per kg.
Weak stock markets, lingering worries over US recession and their aftermaths over other emerging markets, weak dollar and concerns over credit markets compelled stockists and even retail investors to invest in these anti-inflatary metals to play safe in the current uncertain conditions, traders said.
Gold in New York, which normally sets price trend on the domestic front, fell 1.2 per cent to USD 1,207.70 an ounce silver by 2.9 per cent to USD 16.56 an ounce in yesterday's trade.
India's consumer price index (CPI)-based retail inflation rate is likely to have cooled further in June, thus remaining below the 4 per cent target of the Reserve Bank of India (RBI) for a fifth consecutive month, giving the central bank wiggle room to focus on growth. Economists reckon that the decline is on account of easing prices in various categories of goods, especially food items, and a favourable base effect.
Gold prices rose by Rs 70 to hit yet another record high of Rs 98,170 per 10 grams in the national capital on Thursday amid firm global demand, according to the All India Sarafa Association. On Wednesday, the precious metal of 99.9 per cent purity soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams.
Traders said sustained selling by stockists on the back of sluggish demand mainly kept pressure on both gold and silver prices for the second straight day.
Commonwealth Games medallist Jaismine Lamboria and two-time Asian Champion Pooja Rani secured gold medals at the Elite Women's National Boxing Championships
Jaismine storms into final, Minakshi bags medal; men's campaign ends in drought.
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Traders said heavy selling by stockists, triggered by a weak global trend, led to the fall in prices of gold and silver.
A former NCP leader from Pune, Rajendra Hagawane, and his son Sushil were arrested on Friday for their alleged involvement in a dowry harassment and abetment to suicide case involving Hagawane's daughter-in-law. The arrests came after the duo were expelled from the NCP by Deputy Chief Minister Ajit Pawar. The victim, Vaishnavi, had allegedly hanged herself on May 16 at her in-laws' house. Her parents alleged that the Hagawane family had harassed her for dowry despite receiving a substantial amount of gold, silver, and an SUV at the time of her marriage.
Gold in Singapore, which normally determines price trend on the domestic front, lost 0.90 per cent to $1,132.16 an ounce, the lowest since April 2010 and silver dropped by 2.3 per cent to $15.06 an ounce, the lowest since February 2010.
Mixing strong defence with measured attack, young wrestler Antim Panghal won her second World Championship medal with a dominating 9-1 victory over U-23 World Champion Emma Jonna Denise Malmgren in the bronze play-off in Zagreb on Thursday, ensuring that the Indian contingent won't return empty-handed from the Croatian capital.
Industry representatives say the government may be tempted to raise the duty on gold and silver by Rs 100 per 10 gram and Rs 500 per kg, respectively, to earn extra revenue at a time the economy is facing several challenges.
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Traders said profit selling by stockists emerged after a rally in the previous session mainly pulled down gold and silver prices.
Silver also rebounded by Rs 570 to Rs 38,100 per kg on increased offtake.
Gold prices rose by Rs 100 to Rs 26,550 per 10 grams at the bullion market on Tuesday.
Silver also lost Rs 550 to Rs 36,350 per kg on poor offtake by industrial units and coin makers.
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Traders said sentiments dampened after gold fell the most in three weeks in overseas markets on speculation that the Federal Reserve would further curb monetary stimulus as the US economy recovers, reducing demand for the metal as an alternative investment.
Gold prices tumbled by Rs 1,550 to Rs 91,450 per 10 grams in the national capital on Monday amid heavy selling by jewellers and stockists as well as weak global trend, according to the All India Sarafa Association. On Friday, the precious metal of 99.9 per cent purity had finished at Rs 93,000 per 10 grams.
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In Mumbai, gold of 99.9 and 99.5 per cent purity rebounded by Rs 170 and Rs 190 to Rs 30,650 and Rs 30,520 per ten grams, respectively. Silver jumped by Rs 1,050 to Rs 46,800 per kg.
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