Tariff value is the base price on which the customs duty is determined to prevent under -- invoicing.
Silver also found buying support and gained Rs 150 to Rs 37,350 per kg.
The import tariff value is the base price at which the customs duty is determined.
Silver also declined by Rs 250 to Rs 35,400 per kg on reduced offtake by industrial units.
After rising for two days, gold prices went down by Rs 100 to Rs 26,850 per 10 grams at the bullion market on Tuesday, tracking a weak global trend amid slackened demand from jewellers.
Silver rose by Rs 50 to Rs 36,050.
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.
Traders said sentiments turned better after gold recovered from an eight-month low in global markets on speculation that reduced prices may spur purchases before the Federal Reserve begins a two-day policy meeting.
Prime Minister Narendra Modi was on Tuesday poised to form the government for a third consecutive term with the Bharatiya Janata Party-led National Democratic Alliance getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity.
Traders said in the absence of buying support from jewellers and retailers on expectations that prices will come down in coming days mainly kept gold prices steady.
Silver gained Rs 350 to Rs 36,550 per kg on increased offtake.
Gold prices fell by Rs 30 to Rs 27,160 per 10 grams at the bullion market on Saturday.
Silver has added a sparkle to assets declared by many women leaders in fray for Lok Sabha elections, including biggies like Sonia Gandhi and Sushma Swaraj, as a spike in the price of white metal has pushed up their wealth.
Globally, gold was trading 0.35 per cent lower at $1,267.20 an ounce in Singapore.
On the domestic front, gold of 99.9 and 99.5 per cent purity recovered by Rs 270 each to Rs 31,370 and Rs 31,170 per ten grams, respectively, after losing Rs 625 on Monday.
Traders said the fall in gold prices was mostly in line with a weak trend in the global markets as signs of easing tensions in Ukraine curbed demand for the precious metal as a haven.
Globally, gold traded a shade higher at $1,210.15 an ounce.
Silver followed suit and traded Rs 90 higher at Rs 38,290 per kg on increased offtake by industrial units and coin makers.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
The government on Monday reduced import tariff value on gold to $388 per 10 grams and on silver to $540 per kg, following global price trends.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.3 per cent to $1,199.65 an ounce.
The government on Wednesday hiked the import tariff value on gold and silver to $431 per 10 grams and $646 per kg, respectively, taking firm global cues.
Marketmen said besides low demand from jewellers and retailers at prevailing levels, a weak global trend as the dollar touched a five-year high, damping investor demand for the metal as a safe-haven, weighed on gold prices.
Gold prices fell by Rs 50 to Rs 27,800 per ten grams in special Diwali trading in New Delhi on Thursday largely in tandem with a weakening global trend.
Silver, however, recovered by Rs 250 to Rs 36,000 per kg.
The government on Monday slashed import tariff value on gold and silver to $408 per 10 grams and $617 per kg respectively, in view of weakness in bullion prices globally.
Silver also traded lower by Rs 400 at Rs 37,600 per kg.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
Traders said apart from fall in demand from jewellers and retailers at prevailing levels, a weak global trend as the strengthening dollar eroded appeal for the precious metal, mainly influenced sentiments in New Delhi.
A yellow glow is likely to stand out amid grey geopolitical clouds in 2023, with gold price projected to touch Rs 60,000 per 10 grams in the Indian market as more investors veer towards safe-haven assets. In a year where volatility was more a norm than an exception, gold prices in the international market oscillated from a peak of $2,070 per ounce in March to a low of $1,616 per ounce in November and is steadily recovering since then, according to market experts. At the beginning of 2022, gold prices were around $1,800 an ounce.
Gold prices declined by Rs 100 to Rs 28,200 per 10 grams at the bullion market on Friday
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
Silver also traded higher by Rs 250 to Rs 41,000 per kg on increased offtake by industrial units.
Silver also fell 0.7 per cent to $15.71 an ounce.
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.
In August 2021, Nick Read, chief executive of Vodafone Plc at the time, did not mince his words while speaking about the India business in an earnings call. Replying to an analyst's question on Vodafone Idea, a venture with the Aditya Birla Group that had piled on huge debts and worrisome losses, Read described it as a highly stressed situation that "they (Vodafone Idea) are trying to navigate... "We, as a group, try to provide them as much practical support as we can, but I want to make it very clear, we are not putting any additional equity into India.''
Silver followed suit, which traded lower by Rs 260 to Rs 38,540 per kg.
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.
Subdued demand from jewellers in the domestic market and shifting of funds towards the surging stock markets also weighed on gold prices.
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
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