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.
Veteran Indian trap shooter Zoravar Singh Sandhu's nearly three-decade-long toil bore fruit when he won his maiden ISSF World Championships (Shotgun) bronze medal, in Athens, on Friday.
Kenya's Faith Kipyegon cemented her status as one of the greatest athletes of all time, winning a fourth 1,500 metres World title
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.
Bullion traders said sustained buying by jewellery fabricators and retailers to meet the festive season demand mainly kept precious metal prices higher.
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.
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.
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.
Vikram Phadnis' celebration of 35 years in fashion, wasn't just a party, it was a full-blown glam parade.
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.
Traders said sustained selling by stockists against sluggish demand and weakening global trend mainly kept pressure on precious metals.
Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.9 per cent to $1,327.94 an ounce and silver by 1.6 per cent to $20.61 an ounce.
Gold and silver extended gains in New Delhi on Monday on sustained buying by stockists, driven by firm global trends.
Precious metals closed at new historic highs at the Bullion market in Mumbai on Monday as silver zoomed by a whopping Rs 570 to end at Rs 19,890 and gold firmed up by Rs 30 to close at Rs 8,855.
Silver also jumped Rs 950 to Rs 44,750 per kg on increased offtake by jewellers and industrial units.
Silver has been quoting at a premium in India since mid-March because of huge scarcity.
Abhinav Shaw shines as India consolidate top position in Asian Shooting Championship
.jpg)
The interest on foreign currency non-resident accounts has been liberalised to attract more deposits.
He joins ahead of a demanding 2026 season packed with major events, including the Asian Games and Commonwealth Games. One of the first things on his agenda will be "tackling" the selection policy.
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.
RJD leader Tejashwi Yadav, contesting from Raghopur, declares assets worth Rs 8.1 crore, while his wife owns assets worth Rs 1.88 crore.
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.
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.
World Championship bronze-medallist shooter Mehuli Ghosh and well-known rifle exponent Manini Kaushi failed to get India's campaign going
Tejaswani aggregated 31 after firing 50 shots in the eight-women final in the women's 25m pistol event.
The tariff value, which is released every fortnight, is the base price on which the customs duty is determined to prevent under-invoicing.
Debutant Minakshi, who out-punched Paris Olympics bronze medallist Nazym Kyzaibay of Kazakhstan in the 48kg final, for gold at the Worlds said she had set her sights on the World Cup in India in November.
'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.'
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.
The state-run PSB asked Iqbal to give an explanation for Nadeem's performance and also a run down on his training schedules, money spent on him.
Ariarne Titmus has retired from competitive swimming at the age of 25, ending a stellar career that featured one of the sport's great rivalries with American Katie Ledecky.
Silver ready declined Rs 160 to Rs 37,240 per kg.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances