Gold, silver rise on positive global cues.
Traders said low-level buying by stockists and shifting of funds from weakening equity to rising bullion mainly boosted the sentiment.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
Silver managed to recover some grounds.
Silver climbed by Rs 600 to Rs 38,700 per kg.
Gold prices dropped Rs 130 to Rs 29,450 per ten gram in the national capital on Tuesday as demand from jewellers and retailers declined at prevailing levels amid a weak global cues.
Nearly two-thirds of India's gold demand comes from rural areas where jewellery is a traditional store of wealth for millions who have no access to the formal banking system.
Retailers are witnessing a surge in demand and expect up to 50 per cent spike in sales volume in this marriage season.
Bullion merchants said sentiments in gold remained extremely weak after it plunged to two-month low in overseas markets as the outlook for higher US interest rates reduced the appeal of the metal as an alternative investment.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
Gold prices declined by Rs 30 to Rs 27,370 per ten gram in New Delhi on Friday as demand from jewellers retailers dried up at prevailing levels to some extent amidst a weak global trend.
WGC expects demand to revive in H2 on surplus monsoon rains
Pure gold of 99.9 per cent purity gained by Rs 120 per 10 gm to close at Rs 30,470 from Rs 30,350.
On the other hand, silver rose on good speculative as well as industrial demand.
Traders said continued selling by stockists against slackened demand at prevailing levels mainly kept pressure on gold prices.
Tanishq has been pretty much careful to not bet on gold prices.
.jpg)
The current upsurge in gold prices placed the metal to a level last seen on April 10.
Silver fell by Rs 500 to Rs 44,800 per kg on poor offtake by industrial units and coin makers.
Gold prices spurted on the bullion market on Wednesday on sustained buying by stockists influenced by a firming trend in international markets and set a new high at Rs 7,750 per ten gram.
Traders said increased buying of gold by stockists and jewellers to meet the rising festive and marriage season demand, amid firming global trend, influenced the sentiment.
Silver recovered by Rs 100 to Rs 36,950 per kg.
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
Indian gold prices have slipped below Rs 30,000 and still counting on the lower side.
Silver also recovered by Rs 515 to Rs 36,750 per kg on increased offtake by industrial units and coin makers.
Are you debating between buying physical gold and investing in paper gold schemes or ETFs? Anil Rego has the answer
Gold recovered 0.5 per cent or $2.90 in the end of last week but the chances of further weakening of dollar has cast a shadow on its future price.
According to the latest statistics from the Association of Mutual Funds of India, gold ETFs have lost 18 per cent of their investor base since May.
Chirag Mehta, senior fund manager -- alternative investments at Quantum AMC, shares his views.
Spot gold was bid lower at $ 1,298 an ounce in early European trade.
There aren't many options to own platinum, pricing varies across retailers and resale policy isn't flexible
Silver also recorded a sharp fall of Rs 1,000 to Rs 37,400 per kg.
The recent round of sell-off is losing momentum and buying is again picking up due to firm marriage season demand.
Gold plunged by Rs 130 per ten gram at the opening and touched a five-month low of Rs 5180 on the bullion market in Mumbai on Thursday due to heavy selling spree.\n\n\n\n
Silver followed suit and gained Rs 65 to Rs 39,600 per kg on increased offtake by industrial units and coin makers.
The gold-mad city has woken up to a massive scam as investigators discovered that at least 200 ounces of fake bullion, worth about $250,000 have been traded at the island`s fabled jewellery souks so far this year, Financial Times reported.
India's gold demand increased by 19.2 per cent to 76.1 tonne during the April-June quarter this year, largely due to low base effect, owing to the nationwide lockdown that hit economic activity last year, the World Gold Council (WGC) said in a report. The overall gold demand during the second quarter of 2020 calendar year stood at 63.8 tonnes, according to the WGC's 'Gold Demand Trends Q2 2021' report. In value terms, India's gold demand witnessed 23 per cent growth during April-June quarter at Rs 32,810 crore, compared to Rs 26,600 crore during the corresponding period of 2020.
The bill on October 2013 was $1.01 billion for 38 tonnes.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
Stories are legion about the Karatmeter's use at that time. Hundreds of people standing in queue for testing, customers breaking down after discovering the actual purity of their jewellery and then becoming irate about the jeweller who had gypped them, the local jewellery industry leaning heavily on the Tanishq franchisees to desist from using it, some jewellers even threatening violent action.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances