Of the 59 assembly constituencies, three have been categorised as 'sensitive' and 590 localities marked as 'vulnerable,' according to the police.
Globally, gold added 0.4 per cent to $1,163.73 an ounce in Singapore.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
Silver also extended its losing streak for the seventh straight session and declined by Rs 350 to Rs 44,200 per kg.
With a robust outlook for mineral-led growth in India, Anil Agarwal-led Vedanta Limited is looking to invest up to $20 billion across its businesses, which includes doubling of silver production and steel capacities. In a virtual press conference had last month, Agarwal said the company planned a capex of $5 billion over a period of three years. The company has not given a timeline for $20-billion investment.
Globally, gold climbed $12.10, or 1 per cent, to $1,220.40 an ounce.
Silver also rose sharply by Rs 640 to Rs 35,700 per kg.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
Silver managed to recover some grounds.
'Valuations are very attractive, and most companies are cash-rich with strong dividend yields.'
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
"Demand for gold is virtually zero," said Suresh Hundia, president of the Bombay Bullion Association. "People are taking profits and selling their gold back to jewellers for 2.5-3 per cent less than international market prices."
Consumers have to watch out for four marks on hallmarked gold jewellery: BIS mark, purity in carat, assay centre's name and jewellers' identification mark.
After falling for three straight days, gold prices recovered by Rs 50 to Rs 26,700 per ten grams at the bullion market on Friday.
Silver also surged by Rs 1,050 to Rs 35,500 per kg on increased offtake by industrial units and coin makers.
Globally, gold lost 0.4 per cent to $1,274.19 an ounce in Singapore.
Gold recorded its biggest fall of Rs 1,110 to reach 12,000 per 10 gram in late trading in the bullion market in New Delhi on Thursday on nervous selling by stockists, sparked by weakening global trend. The metal plummeted in London to $905 from its peak of $1,033 on March 17.
Silver also eased by Rs 150 to Rs 41,700 per kg.
Silver coins continued to be traded at last level of Rs 48,000.
Gold prices on Wednesday sky-rocketed by Rs 340 at Rs 11,510 per ten gram as investors directed their money to the precious metal after the dollar fell, sparked by Federal Reserve cutting key interest rates.
Gold stocks in India are estimated to be over 20,000 tonnes at present.
Gold prices fell by Rs 30 to Rs 27,160 per 10 grams at the bullion market on Saturday.
The precious metals had lost Rs 210 in the previous session.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
Silver also eased by Rs 320 to Rs 35,780 per kg.
Silver, however, found some buying support.
India on Friday said it would make imports of precious metals and stones easier in order to promote gems and jewellery exports.
Silver was also up by 1.63 per cent to $15.92 an ounce.
Precious metals closed at new historic highs at the Bullion market in Mumbai on Monday as silver zoomed by a whopping Rs 570 to end at Rs 19,890 and gold firmed up by Rs 30 to close at Rs 8,855.
Gold price softens as demand dips.
Silver also edged higher by Rs 100 to Rs 36,100 per kg.
Globally, gold rose 0.83 per cent to $1,290.90 an ounce and silver was up 0.79 per cent to, $17.92 an ounce in London in early trade on Tuesday.
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In line with overall trends, silver ready traded lower by Rs 350 to Rs 36,950 per kg and weekly-based delivery by Rs 480 to Rs 36,945 per kg.
The precious metal had gained Rs 335 in the last two days.
The gems and jewellery industry is staring at a sales washout on Akshaya Tritiya for the second consecutive year as most of the states are under lockdowns due to the raging second wave of the COVID-19 pandemic which has led to negative consumer sentiment, say industry leaders. Akshaya Tritiya, considered as an auspicious day for buying gold and jewellery, falls on May 14 this year. India is the worst-hit among all nations with the second wave of the pandemic, which has been killing more than 3,500 daily and infecting close to 4 lakhs daily for weeks. The massive caseload has nearly paralysed the medical infrastructure.
Gold prices rose on the bullion market in New Delhi on Monday on emergence of buying by investors amid purchasing by stockists, as funds got diverted from falling equity markets.
Gold is one of the most sought-after precious metals.
Precious metals recovered on the bullion market on revival of buying by stockists and investors amid diversion of some funds from the falling stock markets, and closed with notable gains.
Silver also rose further by Rs 100 to Rs 37,600 per kg.
On the domestic front, gold of 99.9 and 99.5 per cent purity surged by Rs 625 each to Rs 31,750 and Rs 31,550 per ten gram, respectively. Sovereign followed suit and rose by Rs 200 to Rs 25,100 per piece of eight gram.
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