Tirupati temple managing body mulls moving 7.5 tonne gold under monetisation scheme
Banks have collected about 1,500 kg of gold from temples and trusts under the Gold Monetisation Scheme (GMS) since its launch last November.
Rallying for the third straight day, gold climbed by Rs 350 to trade above the Rs 30,000-mark at Rs 30,250 per 10 grams, its highest level in almost two years at the bullion market Friday, largely in tandem with firming trend overseas.
Gold prices rose for the second straight day Thursday by gaining Rs 110 to Rs 29,900 per ten grams at the bullion market, taking positive cues from overseas markets and increased buying by jewellers at domestic spot market to meet wedding season demand.
Gold regained its sheen to trade higher by Rs 215 to Rs 29,790 per ten grams Wednesday as the bullion market in the national capital reopened after two days of strike, while silver rallied by Rs 775 to Rs 40,975 per kg largely in tune with a firming global trend.
Jewellers and bullion traders in several parts of the country, including Delhi, today resumed their strike, demanding rollback of the one per cent excise duty on non-silver jewellery.
The government on Saturday asked the jewellers to settle the excise dues for March-May along with that of June and get themselves registered with the central excise department by July 1.
Gold prices fell by Rs 225 to Rs 29,575 per ten grams at the bullion market today, tracking a weak trend overseas amid subdued demand from jewellers at domestic spot market.
Gold prices eased by Rs 100 to Rs 29,800 per ten grams at the bullion market Friday owing to slackened demand from jewellers and customers at prevailing levels amid a weak global cues.
Riding on strong global cues and increased buying by jewellers to meet the ongoing wedding season demand, gold prices flared by Rs 400 to Rs 29,900 per 10 grams at the bullion market Thursday.
Gold prices softened by Rs 50 to Rs 29,500 per 10 grams at the bullion market Tuesday due to slack demand even as the precious metal firmed up overseas.
India's gold imports in March slumped by 80.48 percent to USD 972.9 million as higher prices and jewellers' strike curbed demand.
Tracking a firming trend overseas and buying by jewellers at domestic spot market, gold prices rose further by Rs 120 to Rs 29,550 per ten grams at the bullion market on Monday.
Gold prices surged by Rs 180 to Rs 29,430 per ten grams at the bullion market today, tracking a firm global trend and pick up in buying by jewellers and retailers amid wedding season demand.
In the national capital, gold of 99.9 and 99.5 percent purity recovered by Rs 50 each to Rs 29,250 and Rs 29,100 per ten grams, respectively.
Gold eased on Thursday as the dollar extended its biggest one-day rally in over a month, though losses were limited by a retreat in oil prices and European stocks, which supported interest in the metal as an alternative asset.
Jewellers in the national capital on Wednesday temporarily called off their 42-day strike, demanding rollback of proposed excise duty on non-silver jewellery, for 12 days after the government's assurance that there will be no harassment by excise officials.
The world`s second biggest consumer imports in March slumped to 18 tonnes from 125 tonnes in the previous year.
Gold prices were down by Rs 126 to Rs 29,387 per 10 grams in futures trade Wednesday as participants cut down their holdings amid a weak trend overseas.