Globally, gold fell 0.2 per cent to $1,162.25 an ounce in Singapore.
Gold prices on Saturday rose further by Rs 40 to Rs 27,350 per ten grams at the bullion market in New Delhi on the back of rising demand from jewellers, driven by ongoing wedding season.
Gold prices on Friday reached an all-time high of Rs 14,200 per 10 gram in the Delhi bullion and analysts said the trend is likely to continue in the coming days.
'The move to remove indexation benefits on LTCGs presently available for property, gold, and other unlisted assets may have a negative impact as it directly impacts real estate investors.'
Traders said fall in demand from jewellers and retailers at existing levels mainly led to the fall in gold prices but a better trend overseas restricted losses.
Silver coins remained unaltered at Rs 69,000 for buying and Rs 70,000 for selling of 100 pieces.
Gold prices rose by Rs 20 to Rs 27,050 per ten grams at the bullion market on Tuesday.
Marketmen said some buying by stockists and jewellers to meet the festive season demand mainly influenced gold prices but a weak trend in overseas markets capped the gains.
Gold prices in India have been escalating very fast of late and in the last week of April, it scaled a new peak by adding Rs 50 to a record price of Rs 22,520 per 10 grams.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
Silver also traded lower by Rs 100 to Rs 37,200 per kg.
Silver held steady at Rs 37,300 per kg.
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The slide in gold continued for the second straight day, with prices tumbling by Rs 200 to Rs 28,100 per ten gram at the bullion market on Friday largely in tandem with a weakening trend overseas amid low demand from jewellers.
Subdued demand from jewellers in the domestic market and shifting of funds towards the surging stock markets also weighed on gold prices.
Sluggish economy, high bullion prices and consumer shift towards cheaper gifting options such as electronic goods and mobiles have taken the sheen off gold
The month of March could be worst in many years, with imports estimated only around 18 tonnes amid the coronavirus pandemic and the nationwide lockdown, said an industry player. The import in March 2019 was 72.5 tonnes, according to the GFMS data.
Silver gained Rs 350 to Rs 36,550 per kg on increased offtake.
Silver, however, lost Rs 300 to Rs 61,200 per kg on limited demand at prevailing higher levels.
In 2013, the fall in international gold prices was 28 per cent.
With gold scaling all-time high levels and now trading at $1,241 per ounce, questions arise whether this is the right time to book profit from investment in gold or time to invest more.
Ahmed Elgendy took Egypt's first gold medal of the Paris Olympics when he won the men's Modern Pentathlon with a world record 1,555 points, despite slowing at the end, in the grounds of the Palace of Versailles on Saturday.
Respect the yellow metal's breakout but treat it with more than ordinary caution, says Sonali Ranade
Gold prices fell by Rs 50 to Rs 27,800 per ten grams in special Diwali trading in New Delhi on Thursday largely in tandem with a weakening global trend.
British Geological Survey accessed in September 2011 produced a list of countries by production of gold.
The US Federal Reserve's decision to continue bond-buying has lifted investor sentiment for gold and silver.
In the national capital, gold of 99.9 and 99.5 per cent purity were up by Rs 150 each to Rs 28,500 and Rs 28,300 per 10 gram respectively.
Gold prices rose by Rs 190 to Rs 27,190 per 10 grams at the bullion market on Friday.
Antonio Watson won a thrilling World Championship 400 metres gold on Thursday.
The bank believes that that gold prices will recover this year and retain a pronounced bullish posture.
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.
Traders said some buying for the marriage season mainly helped gold prices to recover.
Extending losses for the third straight day, gold prices dropped Rs 220 to Rs 31,710 per ten gram in New Delhi on Wednesday on sustained selling by stockists amid sluggish demand coupled with weakening global trend.
The gold prices fell by Rs 360 to Rs 19,960 per 10 grams, a level last seen on November 4, while silver tumbled Rs 950 to Rs 41,700 per kg on fall in demand among jewellers at existing high levels.
While choosing this, approach local jewellers to avoid high deductions by branded jewellers.
We will not know if the breakout is just a reactive pullback or the real thing for another two weeks or so, says Sonali Ranade
Silver also dropped by Rs 550 to Rs 40,350 per kg.
Movements in gold prices will depend on the US' interest rates.
By December 2015, the total imports will touch 1000 tonnes.
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
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