Ace discus thrower Vikas Gowda won the silver medal in the IAAF Diamond League Series in Doha, on Friday.
The gold prices surpassed all previous records as they spurted by Rs 145 to Rs 19,470 per ten grams, on increased buying by jewellers and retailers to accomodate the seasonal demand for upcoming festival and marriage season beginning next month.
Gold prices recovered by Rs 210.
Traders said besides sluggish demand at prevailing higher levels, a weak global trend mainly led to fall in gold and silver prices.
In August 2014, imports stood at $ 2.06 billion. Higher imports will have adverse bearing on India's current account deficit (CAD).
Silver also rose for the third day by adding Rs 70 to Rs 55,500 per kg on increased offtake by industrial units and coin makers.
Bullion traders attributed the fall in gold prices to a weakening global trend after the US added the largest number of jobs in almost three years, fuelling concerns that the Federal Reserve will move closer to raising interest rates.
Gold prices surged by Rs 150 to trade at Rs 17,140 per ten gram in New Delhi on heavy buying due to a steep rise in the metal's prices in the overseas market as the dollar weakened.
Gold prices fell back after a brief overnight rebound on the first trading day of 2015 at the domestic bullion market due to reduced stockists offtake as well as lack of local buying interest.
Traders said sentiments turned bearish after gold fell to three-week low in global markets as a stronger dollar curbed demand after the Federal Reserve ended its asset-purchase programme because of an improving labour market.
Silver also fell by 0.5 per cent to $15.68 an ounce.
Bullion traders said a weakening trend in global markets, as the dollar's strength eroded demand, mainly put pressure on the precious metal.
Elevated gold prices have led Indian investors to eye diamonds and platinum as a lucrative investment opportunity.
RBI's projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest, the Economic Survey said on Tuesday. However, entrenched inflation may prolong the tightening cycle and therefore, borrowing costs may stay 'higher for longer', it said. The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman.
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Silver also declined by Rs 75 to Rs 50,610 per kg on lack of buying support after steepest rise in last week.
Traders said some buying by jewellers and retailers amid a firming global trend helped prices move further.
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The current upsurge in gold prices placed the metal to a level last seen on April 10.
Standard gold of 99.5 per cent purity declined by Rs 220 to end at Rs 25,680 per 10 gm. Silver plunged below the Rs 46,000 per kg-mark.
Traders said profit-selling by stockists at prevailing higher levels amid a weak global trend mainly pulled down both gold and silver prices.
Gold prices crashed by Rs 105 per ten gram on the bullion market in Mumbai on Friday due to heavy offering by stockists after a sharp fall in New York prices.
Traders said sluggish demand at prevailing higher levels and investors shifting their funds to surging equities mainly kept pressure on gold and silver prices.
Traders said reduced offtake by retailers and stockists at prevailing higher levels mainly kept pressure on gold and silver prices.
Pre-Diwali Dhanteras sales of gold and silver witnessed a tepid response from consumers on Thursday on account of high prices of the precious metals and sluggish demand due to COVID-19 induced economic hardship, according to jewellers and industry experts. However, jewellers are expecting maximum footfalls on Friday as Dhanteras -- considered the most auspicious day in Hindu calendar for buying items, ranging from precious metals like gold and silver to utensils -- is being celebrated for two days this year.
After the Dark edition followed by the Gold and Kaziranga editions, Tata Motors now introduces the Jet experience in select high-end models.
Traders said persistent buying by jewellers and retailers to meet the festive season demand and a firming global trend as the drop to this year's low lured Chinese buyers returning from a week-long break, mainly kept gold prices higher.
Indian stock markets have outshined gold and silver in FY15.
When Jaipur's Maharaja Madho Singh was invited to attend King Edward VII's coronation in 1902, he chartered a ship for Rs 15 lakh for the journey. He also carried 27,000 litres of Ganga jal on board. Prakash Bhandari recalls the maharaja's voyage to attend a British monarch's coronation on a day when Charles III will be crowned king at Westminster Abbey.
Traders said sustained selling by stockists against sluggish demand amid a weakening global trend, where gold dropped below $1,200 an ounce as the Federal Reserve scaled back monetary stimulus, mainly kept pressure on precious metals.
Duty magistrate Shivangi Vyas sent Mahamed Sharif for custodial interrogation, noting that police had to recover certain articles from his residence in Delhi, which were allegedly stolen by him.
In 2003, the 200-year-old sword was bought with much fanfare by liquor baron Vijay Mallya.
Gold is the first product for options trading that markets regulator Sebi has allowed after 14 years of commodity exchanges in the country.
Poor demand at existing higher levels further dampened the trading sentiment, traders said.
In hockey, the women's team continued its inspiring run with a silver medal at the Birmingham Commonwealth Games.
Silver shot up by Rs 660 to Rs 44,600 per kg
'In India, we are paying a price for not managing water as we are not willing to pay the cost for it.'
Gold rose further on the bullion market in Mumbai due to increased buying by stockists after rise in the overseas prices. Silver also ended better in line with gold.
After gaining Rs 75 in the previous session, the precious metal advanced further, driven by a firming trend in overseas markets as US economic data signalled the Federal Reserve may continue its asset purchase program to support the recovery.
The yellow metal had shed Rs 20 on Tuesday.
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