Some are treating the price correction as akin to a fiscal stimulus that could kick-start a new demand cycle in the economy.
The recent round of sell-off is losing momentum and buying is again picking up due to firm marriage season demand.
These companies may recall loans in extreme cases; loan-to-value ratio stands at 60% but scrap value at 75%.
Indian gold prices have slipped below Rs 30,000 and still counting on the lower side.
Sentiment in gold improved as stockists and retailers indulged in fresh buying at existing lower levels.
As the shift from hand-crafted to machine-made ornaments did not serve the purpose, with neither the cost of machine-made jewellery declining nor jewellers finding innovative designs, the industry goes back to 'hand-crafted' ornaments for both domestic and overseas buyers, reports Dilip Kumar Jha.
Standard gold of 99.5 per cent purity declined by Rs 220 to end at Rs 25,680 per 10 gm. Silver plunged below the Rs 46,000 per kg-mark.
Retailers are witnessing a surge in demand and expect up to 50 per cent spike in sales volume in this marriage season.
Shares of gold loan companies like Manappuram Finance and jewellery makers on Monday fell sharply by up to over 13 per cent, following weakness in gold prices which hit over 15-month low.
Jeweller and importers were awaiting the correction to stock the yellow metal for upcoming marriage season.
Titan accounted for 59.6 per cent of his disclosed portfolio at Rs 8,355 crore. This is more than 10 times the next biggest holding, Federal Bank, at Rs 619 crore.
Import bill for September rises to $3.5-4 billion as traders and retailers stock up the precious metal.
Consumers during the quarter sold 37.9 tonnes of old gold, which is the highest quarterly sale after September 2016, when old gold sale, or scrap supply, was 39 tonnes.
A drop in demand from local jewellers and retailers at current levels weighed on the prices
Silver ready ruled flat at Rs 44,600 per kg, while weekly-based delivery shed Rs 80 to Rs 43,780 per kg on lack of speculators' buying support.
Spot silver rose 0.3 per cent to $15.35 an ounce.
The bank believes that that gold prices will recover this year and retain a pronounced bullish posture.
Cuts its 2013 price forecast to $1,760 an ounce from $1,850.
Sentiments remained bullish as gold rose to a two-week high in overseas markets, gaining with other commodities as the dollar weakened, after the US Congress passed the 'fiscal cliff' deal, easing concern that a recovery in the world's biggest economy may be derailed.
Rising gold prices and continuing investment flow in yellow metal has pushed the size of assets held through gold exchange traded funds to an all-time high of Rs 11,198 crore.
With gold prices rising and debt holding steady, fund houses have launched multi-asset funds for passive customers who are not so nimble while churning their portfolios.
Indian gold demand seen falling to 8-year low in festive quarter.
The global official gold holdings totaled 31,694.8 tonnes as of April 2013.
Marketmen said sustained weakness in overseas markets, where gold plunged over 9 per cent on Monday to its lowest level since February 2011, on worries over Chinese growth and possible sell-off by struggling Cyprus's central bank, continued to influence the trading sentiment in New Delhi.
The imitation jewellery market, which is about Rs 8,000 crore, is expected to touch Rs 15,000 crore.
Gold prices fell due to persistent selling by stockists triggered by a heavy sell-off in global markets.
Respect the yellow metal's breakout but treat it with more than ordinary caution, says Sonali Ranade
From smart cities to gold, the fallout of the Chinese meltdown will have far-reaching consequences
Gold prices plunged to over ten months low by losing Rs 505 to Rs 29,470 per ten gram in the national capital on Thursday on frantic selling by stockists amid restricted buying, driven by a steep fall in overseas markets.
Sentiment turned bearish in the absence of buying support.
Rate in the global markets us normally sets price trend on the domestic front.
Jewellers see flat gold sales this Dhanteras
New gold schemes may perform better than previous plans: UBS.
In Zaveri Bazar, gold is being traded at Rs 26,920/10 gm
Silver also eased by Rs 160 to Rs 41,100 per kg.
In a bad day for investors, Indian stocks on Thursday plunged to this year's lowest levels, wiping out over Rs 1.1 lakh crore wealth, while gold prices tanked to a seven-month low in a knee-jerk reaction to global sell-off.
While gold added Rs 310 to hit the record level, silver rose by Rs 800 to Rs 62,000 per kilogram.
Gold, which has been on a record setting spree for the past three weeks, rose by Rs 50 to Rs 32,500 per 10 grams.
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