Silver staged a comeback by rising Rs 300 to Rs 36,800 per kg,
Gold prices on Thursday scaled to Rs 6,800 per ten gram, a level never seen before in the history of bullion market in New Delhi, as stockists indulged in brisk buying triggered by a firm international trend.
Silver followed suit and dropped by Rs 325 to Rs 37,100 per kg.
Delhi and Maharashtra may lower value added tax on bullion to 0.25 per cent as consensus on introducing uniform floor rate for precious metals seemed difficult to emerge at the empowered committee's meeting on Wednesday
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.
Custom authorities have been keeping strict vigil on the cargo movements from Bhutan, Taiwan, China, Afghanistan, South Korea Japan, and Dubai since January.
Traders said some buying activity by jewellers and retailers mainly kept gold prices steady.
In Delhi, gold of 99.9 and 99.5 per cent purity gained Rs 110 each to Rs 27,210 and Rs 27,010 per 10 gram, respectively.
Traders said stockists buying for the ongoing marriage season mainly led the recovery in gold and silver prices.
Gold prices rose further by Rs 80 to Rs 29,480 per 10 grams in the national capital today on sustained buying by stockists and retailers.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
Traders said stockists selling against sluggish demand at prevailing higher levels amid weak global trend mainly kept pressure on precious metals.
British police ambushed the gang which raided a warehouse containing bullion and bank notes.
Bihar Deputy Chief Minister Sushil Kumar Modi said, a hike in GST rates would have hampered consumption amid the economic slowdown. The revenue augmentation panel in the Council meeting recently recommended revisiting and restructuring the GST rate slabs, besides correcting the inverted duty structure. The panel listed 24 items, including mobile phones, footwear, fabrics, LED light, medical equipment, utensils, agri machinery, pharma, and renewable components, which have an inverted duty structure, resulting in refunds of close to Rs 20,000 crore annually.
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
What are the tax implications of investing in gold bonds issued by the State Bank of India? Is there any tax liability associated with investing in gold? Read on to find out.
Falling for the sixth straight day, gold prices drifted by another Rs 70 to trade at fresh two-month low of Rs 26,680 per ten grams at the bullion market on Friday, tracking a weak global trend amid slackened demand from jewellers and retailers.
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
Indian buyers were on a gold buying spree during the July-September 2004 period despite the rising prices of the precious metal, said a World Gold Council report on Tuesday.
Gold prices zoomed across the country on Saturday to touch an all-time high of Rs 6730 per ten gram in Kolkata on revival of buying by stockists enthused by a firm trend overseas.
Gold prices rose further by Rs 10 to Rs 27,500 per ten grams in the national capital today on the back of pick-up in buying by jewellers to meet wedding season demand.
After scaling record high peaks, both the precious metals -- silver and gold witnessed a free fall across the board in opening session today on brisk selling by stockists triggered by weak overseas trend.
Both the precious metals, gold and silver, ounce again broke all previous records and ended at all-time high of Rs 6,270 per 10 gram and Rs 9,605 per kilo, respectively on the bullion market in Mumbai on Monday.
Royal Bank of Scotland and JP Morgan were also fined over attempts to rig currency benchmarks in a year-long probe that has put the largely unregulated $5 trillion-a-day market on a tighter leash, with dozens of dealers suspended or fired.
Traders attributed persistent fall in gold prices to easing demand.
Gold cracked as much as Rs 730 -- its biggest one-day fall this year -- to Rs 30,520 per 10 grammes, in sync with a weak trend overseas on growing US rate hike buzz amid a fall in demand at the spot market.
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.
Gold prices remained steady for the second straight day at Rs 27,250 per 10 grams at the bullion market on Tuesday.
The contraction in imports helped narrow trade deficit to $7.67 billion in August 2016
Silver also recovered by Rs 200 to Rs 37,000 per kg.
Gold imports surged by 93.86 per cent year-on-year to $4.98 billion.
Gold, worth crores of rupees, belonging to the State Bank of India was reported missing three days ago during transit from Mumbai to Delhi.
Silver ready declined Rs 160 to Rs 37,240 per kg.
In the international market, gold dropped 0.3 per cent to $1,141.76 an ounce in Singapore today.
Silver gained Rs 350 to Rs 36,550 per kg on increased offtake.
Traders in India, the world's largest gold consumer, were stocking up on the precious metal on Monday amid fears that a US-led war with Iraq was imminent and could push bullion prices higher, dealers said.\n\n\n\n
India, the world's largest gold consumer, is likely to resume import of the precious metal this week after a long lull, as global prices have fallen sharply amid signs the United States is unlikely to attack Iraq immediately.
Silver remained under selling pressure and lost Rs 200.
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