Gold prices surged for the 7th straight day, moving up by Rs 30 to hit nine-month high of Rs 27,700 per 10 grams at Delhi bullion market on Saturday.
Gold prices fell by Rs 120 to Rs 26,130 per 10 grams at the bullion market today, largely in tandem with a weakening trend overseas amid low demand from jewellers.
Government further slashed the import tariff value of gold to USD 376 per 10 grams and of silver to USD 498 per kg due to weak global prices.
Gold futures fell 0.25 per cent to Rs 26,027 per 10 grams today as participants went about reducing exposure in tandem with a global trend.
Gold prices fell to four-month lows on Wednesday, extending losses for a third session as Federal Reserve Chair Janet Yellen said the U.S. central bank remains on track to raise interest rates this year.
Imports of the precious metal stood at USD 3.12 billion in the same month of 2014. In May this year, the imports were worth USD 2.42 billion.
Gold held steady at Rs 26,250 per 10 grams at the bullion market Wednesday in absence of any worthwhile activity from jewellers even as metal weakened overseas.
Tracking a weak global trend, gold prices slipped by Rs 93 to Rs 25,931 per 10 grams in futures trade Tuesday as participants trimmed positions.
Gold prices dropped by Rs 100 to Rs 26,250 per 10 grams at the bullion market in the national capital Tuesday on weak global trend amid low demand from jewellers.
Greece won conditional agreement to receive a possible $95 billion over three years.
Silver, however, declined by Rs 100 to Rs 35,650 per kg on reduced offtake by industrial units and coin makers along with a weak global trend.
Gold edged lower on Monday, dragged down by the euro after a weekend emergency summit to tackle Greece`s debt crisis yielded no deal and with the U.S. Federal Reserve still on track to raise interest rates this year.
Gold ended steady at Rs 26,330 per ten grams at the bullion market on Saturday on scattered buying by jewellers.
Gold eased by Rs 40 to Rs 26,330 per ten grams at the bullion market on Friday owing to slackened demand from jewellers even as the metal strengthened overseas.
Gold held above a four-month low on Friday, spurred by a firmer euro on signs of progress in debt-hit Greece`s efforts to secure fresh funding.
Snapping its two-day falling run, gold prices rebounded by Rs 200 to Rs 26,370 per 10 grams at the bullion market on Thursday, tracking a firm trend overseas amid fresh buying by jewellers.
Gold prices tumbled Rs 330 to trade over 3-month lows at Rs 26,170 per ten grams at the bullion market today, tracking a weak global trend amid easing demand from jewellers.
Government is looking at raising Rs 15,000 crore in the current fiscal through the gold bond scheme, for which a cabinet note is likely to be moved for consideration later in the month.
Snapping a two-day rising run, gold prices today fell by Rs 70 to Rs 26,500 per ten grams at the bullion market in the national capital owing to slackened demand at prevailing levels amid a weak global trend.
Traders said pickup in buying by jewellers and a firm global trend on safe-haven demand after Greek voters have rejected more austerity demands from creditors, influenced gold prices.
Gold prices recovered by Rs 50 to Rs 26,550 per 10 grams at the bullion market today, snapping its three-day falling streak, on emergence of buying by jewellers and retailers at prevailing levels.
MCX gold rises past Rs 29,000 per 10 grams
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