Gold prices fell further at the local bullion market on Saturday due to reduced off-take by stockists as well as lack of local buying support at the existing levels.
.jpg)
Traders said buying activity continued for the third straight day for the ongoing 'Navratras,' an auspicous week in Hindu mythology for making new purchases and marriage season.
Traders said the sentiment remained bearish as gold slumped to a five-week low in overseas markets on speculation that the US Federal Reserve will taper asset purchases.
Amit Panghal's campaign at the Paris Olympics mirrored his experience at the Tokyo Games. The seasoned boxer once again made a pre-quarter-finals exit while debutant Jaismine Lamboria was also ousted on Tuesday.
Gold also moved up by Rs 70 to Rs 20,430 per 10 grams on rising jewellery demand, reaching nearer to its record level of Rs 20,600 per 10 grams set on November 11.
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
Silver prices zoomed by Rs 360 per kilogram to hit a new high of Rs 18,445 at the opening session in the bullion market in Mumbai due to heavy stockists' buying followed by firm overseas advices.
Traders attributed the rise in prices to higher demand of precious metals for the coming festivals like Rakshabandhan compared with supply, which has tightened because of fall in imports following government measures.
Gold prices surged by Rs 100 to close at Rs 15,090 per ten gram today on heavy buying by jewellery fabricators amid firming global trend.
Citing the sharp rise in food prices, economists at a foreign bank have forecast a steeply higher retail inflation print for July, pegging it at 6.7 per cent, up 190 basis points from the previous month. Deutsche Bank India economists led by chief economist Kaushik Das, in a report on Monday ahead of the monthly inflation print and the Reserve Bank's monetary policy review, said that the July consumer price-based inflation index (CPI) is likely to print at 6.7 per cent on-year as against 4.8 per cent in June. The Reserve Bank is widely believed to leave the key interest rates unchanged for the fourth time in its upcoming bi-monthly monetary policy decision on August 10.
A Rs 525-crore contingency provision during the July-September period led to a 19 per cent fall in IndusInd Bank's share price on Friday (October 25). Contingency provisions are generally made when a lender expects more bad loans in the coming quarters. Shares of the bank on Tuesday (October 29) declined 1.53 per cent to settle at Rs 1,038.2 apiece on the BSE.
Silver prices sky-rocketed across the board today on frantic buying by stockists and speculators in line with international trend, recording gains between Rs 565 and Rs 250 per kilo.
The all-time high price of silver is Rs 75,000 a kg, recorded in April 2011.
Traders attributed persistent fall in gold prices to easing demand.
What do the fluctuating gold-silver price ratio portend?
India captain Rohit Sharma is confident that his team will bounce back from the eight-wicket defeat against New Zealand in the first Test in Bengaluru.
Overall, the BGauss RUV 350 is a feature-packed electric scooter with a unique design and competitive performance.
The American, a two-time Olympic bronze medallist and a four-time world champion on the balance beam, finished a disappointing fifth with 13.100.
Bullion dealers said higher overseas market advices have led traders to stock more gold, leading the metal to end Rs 5 higher at Rs 8,725 per ten gram.
Multi-asset allocation funds emerged as the most popular option for MFs as they provided the needed flexibility.
Canada brought the Stade de France Olympic party to a shuddering halt when they stunned France 19-14 on Monday to set up a women's rugby sevens semi-final with Australia.
The Central Board of Indirect Taxes and Customs (CBIC) has stepped up its watch on the import of unbranded gold jewellery amid a spurt in seizures on international borders and from importers. During FY24, the CBIC and Directorate of Revenue Intelligence (DRI) jointly seized about 5 tonnes of gold, 30 per cent more than what they did in FY23. In FY23, 3.5 tonnes of gold was confiscated.
Adam Peaty hopes to emulate retired American great Michael Phelps, the only swimmer to win gold in the same event at three successive Games, at the Paris Olympics.
Gold prices plunged by Rs 410 to trade at over two-week low of Rs 27,790 per 10 grams at the bullion market on Monday.
Gold in Singapore, which mostly set the price trend on the domestic front, climbed 0.6 per cent to $1,303.63 an ounce and silver by 1.9 per cent to USD 18.33 an ounce, the highest since September.
Barcelona striker Robert Lewandowski scored twice to set his side on course for a 5-0 Champions League thrashing of Swiss side Young Boys on Tuesday as the Catalan giants bounced back from a 2-1 loss at AS Monaco in their opener.
Bengaluru-based United Breweries (UBL), makers of Kingfisher beer, is eying strong growth in the premium beer segment, driven by changing consumer preferences towards premiumisation. "Across categories, premiumisation is taking place as people are looking for better choices and beer is no different. "People are upgrading to better beer and newer brands. We have a good offering of premium brands - Kingfisher's premium variants are Ultra and Ultra Max," Vikram Bahl, chief marketing officer (CMO), UBL, said in an interview.
In a dazzling showcase at Apple Park, Apple on Monday introduced its latest technological marvels, including the much-anticipated iPhone 16 lineup. The event, held at the newly inaugurated Observatory building, featured an array of exciting updates that promise to redefine the smartphone experience.
Renault has launched limited edition versions of its three bestsellers -- the Kwid, Kiger, and Triber -- called the Urban Night.
Most consumers are going for token buying of lesser value and are waiting for price correction for purchase of wedding jewellery.
The consistently heavy downpour of films, shows, events, videos and whatnot is causing economic disruption.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
Silver also rebounded by Rs 140 to Rs 37,050 per kg.
The government raised import tariff value on gold to $385 per 10 grams.
For last fortnight, the tariff value of gold was fixed at $382 per 10 grams and silver at $516 per kg.
Traders said a weakening trend in the precious metals overseas after the Federal Reserve pressed on with cuts to stimulus amid signs of a recovery in the US, reducing demand for the safe haven, mainly put pressure on the gold prices in New Delhi.
'Here are 25 stories special to me for one reason too many,' says Sukanya Verma who scored 25 years writing about the movies last week.
The government on Wednesday increased the import tariff value on gold and silver to $408 per 10 gram and $520 per kg, respectively in line with global prices.
Gold prices were ruling at Rs 26,385 per ten gram at the bullion market while silver was quoted at Rs 34,000 per kg.
Apart from the human body, human food will bear direct repercussions. From staples such as wheat, to coffee, dairy, and even the great Hilsa face the threat of reduced supply due to the extreme heat.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances