With gold prices on the rise, financial institutions are trying different ways to attract the customer.
By December 2015, the total imports will touch 1000 tonnes.
Retailers in the food, grocery and fashion retail segments to be unaffected
Silver traded higher by Rs 250 to Rs 34,400 per kg.
Globally, gold added 0.4 per cent to $1,163.73 an ounce in Singapore.
This has steered a rally in global equities and dollar Index also ticked higher, trading near its four year high.
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
Gold prices regained the crucial level of Rs 29,000 per 10 gm after six weeks in New Delhi on Friday on brisk buying by stockists and retailers for the wedding season amid a firming global trend.
Akshay Tritiya could be a good reason to invest. Purchase jewellery only for immediate consumption.
Gold, silver shine in Diwali trade on jewellers buying
Silver also jumped by Rs 1,000 to Rs 57,000 per kg on strong global cues.
Silver also slipped below the Rs 41,000-mark by falling Rs 525 to Rs 40,975 per kg on reduced offtake by industrial units and coin makers
Globally, in Singapore, gold traded a tad higher at USD 1,182.22 an ounce, from $1,182.01 on Thursday.
My view is that they can probably muddle through for another two-three years by piling up the fiscal deficit or printing more money. I do not know when it will happen in 2012 or in 2018, but the next crisis will be worse than the one in 2008.
Orders for the festive season abroad begin from next month.
Thomson Reuters Proprietary Research study pointed to a strong momentum for gold over the medium term, identifying strong global liquidity and low interest rates as support for a continued rally.
Gold rises on firm demand, global buoyancy
Companies change the way they calculate the value of gold, leading to a lower loan-to-value for customers.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
The government raised import tariff value on gold to $385 per 10 grams.
According to its owners, its value has multiplied several times over the years, because of the record gold price now.
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.
In a high interest rate regime when all banks are offering loans at a lofty price, rates for loans against gold continues to be cheaper.
Silver ready also moved up by Rs 50 to Rs 38,800 per kg while weekly-based delivery fell by Rs 160 to Rs 38,250 per kg on lack of buying support from speculators.
With the West Asian/North African crisis not likely to end soon and investors' appetite increasing for gold, it is expected to touch $1,600 an oz by the year-end.
The commerce ministry has called a meeting on Monday to discuss tighter norms amid reports of increased round-tripping of gold
The US economy has been growing comfortably for several quarters.
You can do so through physical gold (coins and bars), gold exchange-traded funds (ETFs), feeder funds and the e-series (popularly called, e-gold) launched by the National Spot Exchange.
Gold of 99.9 and 99.5 per cent purity advanced by Rs 160 each.
Gold prices have hit a record high of Rs 26,000 per 10 grams for the first time ever.
In New York, gold rose to an all-time high of $1,782.50 an ounce.
Silver followed suit and dropped by Rs 325 to Rs 37,100 per kg.
Gold rose 0.38 per cent to Rs 29,435 per ten grams in special Muhurat trading on the Multi Commodity Exchange on Sunday as participants created positions to mark the start of Samvat year 2070.
Silver coins remained steady at Rs 52,000.
Gold will first slide to $1,310-1,325 early next year on profit booking. But, the precious metal will get good buying support from central banks in Asia and West Asia regions, who are looking for opportunities to increase their gold portfolio.
Globally, gold fell by 0.24 per cent to $1,182.80 an ounce and silver shed 0.72 per cent to $15.89 an ounce in London.
Silver also rose by Rs 100 to Rs 37,400 per kg.
Silver also fell 0.7 per cent to $15.71 an ounce.
Jewellery retailers witnessed a 20 per cent increase in the sale of ornaments during the last fortnight. The rise was due to more consumer footfalls following a 1.6 per cent correction in prices.
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.
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