Traders said in the absence of buying support from jewellers and retailers on expectations that prices will come down in coming days mainly kept gold prices steady.
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
In August 2014, imports stood at $ 2.06 billion. Higher imports will have adverse bearing on India's current account deficit (CAD).
Gold in Singapore, which normally determines price trend on the domestic front, traded a shade higher at $1,310.85 an ounce and silver by 0.70 per cent to $20.56 an ounce in on Tuesday's trade.
Globally, gold climbed 0.7 per cent to $1,161.85 an ounce in Singapore.
Globally, gold was trading 0.35 per cent lower at $1,267.20 an ounce in Singapore.
In Singapore, gold prices have risen by 0.46 per cent to $ 1,294.20 from $ 1,288 per ounce in last one fortnight.
The government on Monday reduced the import tariff value of gold to $458 per 10 grams due to fall in its global prices.
Gold prices breached the crucial Rs 25,000-level for the first time ever in history, tracking strong trends in global markets where financial uncertainty increased the metal's appeal as a safe investment haven.
Traders said reduced offtake by retail customers on sluggish demand at prevailing higher levels kept pressure on gold prices, while silver rose on fresh buying by industrial units and coin makers amid a firming global trend.
All round selling by stockists on free-fall in overseas markets and investors shifting their funds to surging equities mainly pulled down the gold prices to a level last seen on August 9,2011.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.3 per cent to $1,199.65 an ounce.
Given the prevailing uncertainties, investors must maintain a 10-15 per cent allocation to gold in 2023.
Maaza, a desi mango fruit-based drink owned by Coca-Cola, has touched the milestone of becoming a billion-dollar brand in 2024, its Chairman and CEO James Quincey has said.
The import tariff value -- base price at which customs duty is determined to prevent under-invoicing -- is revised on a fortnightly basis.
Gold has held up better than many expected.
The precious metal has now lost Rs 280 in last three days.
Gold prices recovered by Rs 85 to Rs 26,625 per 10 grams at the bullion market.
Customs officials are busy at ports and airports, scanning passengers to ensure that COVID-19 virus-affected people are traced. So, officials are not able to focus much on baggage checking. This could lead to more gold getting smuggled into the country as luggage check at airports is now random unlike earlier where every bag was checked thoroughly.
Gold drops Rs 110 on macro factors.
Traders said stockists buying for the marriage season amid a firm global trend mainly led the recovery in gold prices.
Gems & jewellery exports seen rising, too, as demand remains strong in all markets except Europe.
Silver, however, recovered by Rs 250 to Rs 36,000 per kg.
Traders said heavy selling by stockists against fall in demand at prevailing higher levels mainly kept pressure on gold prices.
U K Sinha said the equity market also helps in the growth of the Indian economy as the money invested in equities is utilised for infrastructure-building
Social media is a treat these days, as film folk dress up in traditional outfits and add glamour to the festive season.
Traders said some buying by jewellers and retailers and a firm trend in Asian region mainly kept gold prices steady.
Investing (or not investing) in gold may be a function of whether you're betting on or against the global economy.
Traders said apart from buying by retailers for the coming festive season, a better trend in the global market mainly led to rise in gold prices.
In Delhi, gold of 99.9 and 99.5 per cent purity gained Rs 110 each to Rs 27,210 and Rs 27,010 per 10 gram, respectively.
Gold is a good bet to invest when the market are sideways and their is uncertainty," SMC Global vice president Rajesh Jain said.
India's gold import bill, estimated at $3 billion in May, is seen falling further this month
Regular investment in gold-linked financial instruments will safeguard against price fluctuation and do away with storage cost.
'The long-term impact of elections is minimal.'
Surging capital markets in India are turning investors away from the bullion market to attractive stocks. This has resulted in the fall of gold prices on lack of buying supporters.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 270 each to Rs 31,370 and Rs 31,170 per ten grams, respectively, after losing Rs 625 on Monday.
Import bill for September rises to $3.5-4 billion as traders and retailers stock up the precious metal.
Gold prices recovered by Rs 100 to trade at Rs 27,200 per 10 gm at the bullion market.
