The 5th tranche of Sovereign Gold Bonds will open for nine days from September 1, through which the government aims to attract a large number of investors to curb the demand for physical gold.
Gold remained weak for the second day with prices falling by another Rs 90 to Rs 31,110 per 10 grams at the bullion market Tuesday, largely in tandem with a weakening global trend amid muted demand from jewellers at domestic spot market.
Gold prices stayed soft as it fell by Rs 50 to Rs 31,200 per 10 grams Monday, reflecting a weak trend overseas amid muted demand from jewellers in the domestic spot market.
Gold edged lower early on Monday as the dollar strengthened after hawkish comments from Federal Reserve Chair Janet Yellen left the door open for a US interest hike as early as next month.
Gold recovered by Rs 100 to Rs 31,250 per 10 grams today on fresh buying by jewellers at the domestic spot market to meet retailers' demand even as the metal weakened overseas.
Snapping its two-day rising streak, gold prices slipped by Rs 100 to Rs 31,150 per ten grams at the bullion market Friday on weak global cues amid slackened demand from jewellers in domestic spot market.
Climbing for the second straight day, gold prices advanced by Rs 50 to Rs 31,250 per 10 grams Wednesday on increased buying by jewellers at the domestic spot market amid positive global cues.
Gold got back some of its momentum after prices rose Rs 150 to Rs 31,200 per 10 grams at the bullion market Tuesday on fresh buying by jewellers to meet festive season demand amid firm global cues.
Gold also drifted lower by Rs 200 to trade at one-week low of Rs 31,050 per ten grams owing to muted demand from jewellers.
Gold fell on Monday to its lowest in nearly two weeks as the dollar strengthened after comments from US Federal Reserve officials increased bets on a US rate hike this year.
Silver cracked below the Rs 46,000-mark by falling Rs 490 to Rs 45,975 per kg today, reflecting a weak trend overseas amid reduced off-take by industrial units in the domestic market.
Gold rallied by Rs 100 to Rs 31,250 per 10 grams at the bullion market Friday on continued buying by jewellers even as the precious metal weakened overseas.
Gold advanced for the third day, gaining Rs 20 to Rs 31,150 per ten grams at the bullion market Wednesday on sustained buying by jewellers to meet festive season demand from retailers, even as the metal weakened overseas.
Gold prices advanced for a second day by gaining Rs 55 to Rs 31,130 per 10 grams at the bullion market Tuesday, tracking a firming trend overseas amid increased buying by jewellers to meet rising demand from retailers at domestic spot market.
Gold imports more than halved to USD 4.97 billion in the first four months of the current fiscal, which is expected to keep a lid on the current account deficit.
The Income Tax department has asked jewellers having turnover of more than Rs 1 crore to furnish details about their customers doing cash transaction of above Rs 2 lakh, whether in one go or in tranches in a fiscal.
Gold remained weak for the second day by losing Rs 75 to Rs 31,050 per 10 grams at the bullion market Friday largely in line with a weakening global trend amid sluggish demand from jewellers at domestic spot market.
India's gold imports fell sharply by 76 percent to 60 tonnes in the April-July period this fiscal on high import duty and other taxes, according to gold and silver refiner MMTC-PAMP.
Gold prices drifted lower by Rs 155 to Rs 31,125 per ten grams Thursday following its weakness globally coupled with muted demand from jewellers in domestic spot market.