The government took steps to curb imports of gold after concerns about the country's current account deficit.
The demand for the precious metal stood at 202.1 tonnes in the same quarter last year.
Jiaolong, China's manned submersible, has descended to a depth of 3,117 meters in the northwestern Indian Ocean and collected variety of precious metals.
The World Gold Council (WGC) said the recent fall in gold prices was driven by speculative traders in the futures markets.
Gujarat witnessed seizures of Rs 71.88 crore in just a few days after the announcement of the election
Gold prices zoomed to an all-time high of Rs 13,850 per 10 gram in the national capital on Wednesday as plunging stock markets and deepening global financial crisis spurred demand for the metal as a safe hedge.
Global appetite for gold fell 21 per cent in the third quarter as outflows from physical bullion funds and the drop in buying from India offset firmer jewellery, coin and bar sales, a quarterly report from the WGC showed on Thursday.
However, the tariff value for silver has been lowered to $920 per kg, according to a notification released by the Central Board of Excise and Customs on Tuesday.
Crude oil is not the only commodity seeing a price correction on fears of an economic slowdown. The same sentiment is driving prices of a range of important industrial metals like copper, zinc, aluminum and the precious metal gold. As a result, prices are now below what they were three months ago.
Higher silver demand in the world's biggest buyer may help support prices, which have fallen almost 30 per cent this year on the international market.
India imports a staggering 1,000 tonnes of gold every year, draining out foreign exchange and putting pressure on the fiscal deficit.
To help mobilise idle gold in households.
Silver also reclaimed the Rs 34,000 per kg mark.
SWF is a state-owned investment fund comprising of financial assets such as stocks, bonds, property, precious metals and other financial instruments that are invested globally.
Interview with Associate director (commodities & currencies), Angel Broking.
The yellow metal fell by Rs 115 to Rs 26,715 and silver lost Rs 400 to Rs 40,350 per kg.
In the July-September period of this year, the domestic demand improved mainly due to Diwali demand and the upcoming marriage season.
Gold in Singapore, which normally sets the price trend on the domestic front, fell by 1.4 per cent to $1,278.94 an ounce and silver by 2.8 per cent to $19.55 an ounce.
The precious metals continued its uninterrupted rally.
While gold surged by Rs 230 to Rs 28,480 per 10 grams, silver gained Rs 250 to Rs 44,600 per kg on increased offtake.
Both the precious metals, gold and silver, on Monday rebounded in the national capital on emergence of buying at existing lower levels amid a firm trend in the Asian region.
RBI has already advised banks to stop selling gold coins.
Traders caution that branded jewellery customers may start opting for substitutes as high prices of previous metals and stones have already made buying any luxury items unaffordable for most of the middle class.
These are golden lessons learned from our elders over the years, says Sumit Rajwade.
Why millennials are choosing silver over gold this Valentine's Day.
Traders said sentiment turned bearish on emergence of stockists selling at existing higher levels amid weak global trend as improving economic growth reduced demand for the precious metals as an alternate investment.
Tariff value is the base price on which the customs duty is determined to prevent under -- invoicing.
Uzbekistan lives comfortably in several centuries but is also a forward-looking nation, Deepa Gahlot discovers on a visit to this Central Asian country.
Tariff value is the base price on which the customs duty is determined to prevent under -invoicing.
Gold prices have dropped, but still they are above 70 per cent of the peak value.
The total sales volumes of gold for 2012 stood at Rs 2.47 lakh crore (Rs 2.47 trillion) and total quantity of gold sold in the country was 864 tonnes, Vipin Sharma, Director (Jewellery) WGC told reporters in Kochi.
Hallmarking will guarantee the purity or fineness of the precious metal.
Gold is considered one of the most precious metals in the world; and it has been used as a symbol for purity, value and royalty. But do you know much gold is there in the world? And who owns most gold? If not, read on. . .
Pak promises visiting Indian delegation to ease tax, visa regime to enable direct access to local market.
The government on Friday slashed the import tariff value of gold to $535 per 10 gram and reduced the rate for silver marginally to $1,003 per kg due to weakening global prices of precious metals.
Traders said emergence of buying at existing lower levels to meet the ongoing marriage season demand mainly led to recovery in gold prices.
Gold on Thursday slipped from record highs by losing Rs 200 to Rs 30,200 per 10 grams in the national capital due to meagre demand for the precious metal at prevailing high levels.
Gold prices are set for another jump before the Easter holidays
India's major import items from UAE include petroleum and petroleum products, precious metals, stones, gems, jewellery, minerals and chemicals
