In a relief to jewellers, the government increased excise duty exemption limit for small scale industry to Rs 10 crore from Rs 6 crore, waived the levy on sale of traded goods and relaxed various procedural norms.
Gold prices advanced for the third day Wednesday, spurred by a firm trend overseas and fresh buying by local jewellers, climbing Rs 45 to Rs 30,935 per 10 grams.
Gold saw its biggest one-day fall in three weeks on Tuesday as global equities rallied on easing political uncertainty in Britain and hopes for more economic stimulus, which in turn curbed demand for assets perceived as safe havens.
Gold prices rose for the second straight day Tuesday, adding Rs 40 to touch Rs 30,890 per 10 gram at the bullion market here, tracking a firm global trend amid persistent buying by jewellers at the domestic spot market.
Gold prices rebounded by Rs 150 to Rs 30,850 per ten gram at the bullion market today, in line with a firming trend overseas and fresh buying by jewellers at the domestic spot market.
Gold prices rebounded by Rs 150 to Rs 30,850 per ten gram at the bullion market Monday, in line with a firming trend overseas and fresh buying by jewellers at the domestic spot market.
Gold drifted further lower by Rs 50 to Rs 30,850 per ten grams at the bullion market Friday, tracking a weak trend overseas amid slackened demand from jewellers at domestic spot market.
Gold discounts in India soared to a record high this week as prices in the world`s second-largest consumer of the commodity touched a near three-year high, hurting consumer demand for physical gold.
Gold prices slipped from a 28-month high by falling Rs 150 to Rs 30,900 per 10 grams at Delhi bullion market Thursday, with demand from jewellers softening, even as the metal rose overseas.
Gold prices shot up to Rs 31,050 per 10 grams, a 28-month high, by surging Rs 400 in the bullion market on Wednesday, underpinned by risk-off attitude among investors and positive global cues.
Snapping its six-day long winning run, silver prices retreated from 28-month high by falling Rs 1,065 to Rs 46,650 per kg at the bullion market Tuesday, tracking a weak trend overseas amid reduced offtake by industrial units at the domestic market.
Gold prices held steady early on Tuesday on an easing dollar and weaker Asian stocks, after the metal surged to near two-year highs the session before.
The white metal prices have risen by nearly 44 percent since January 1 this year.
Gold eased off a near two-year high, while silver breached the $21 level for the first time since July 2014 in highly volatile trade on Monday, prompted by a burst of short-covering in China.
Gold imports fell by about 51 percent to USD 2.7 billion in April-May this fiscal, which is expected to keep a lid on the current account deficit.
Riding high on strong global cues and continued buying by industrial units and coin makers, silver prices cracked the Rs 45,000-mark on Saturday by surging Rs 960 per kg to trade at a two-year high of Rs 45,560.
In the national capital, gold of 99.9 percent and 99.5 percent purity climbed by Rs 200 each to Rs 30,550 and Rs 30,400 per 10 grams respectively.
Gold surged by Rs 100 to Rs 30,350 per ten grams at the bullion market Thursday on positive global cues amid jewellers' buying at domestic spot market.
Gold prices slumped by Rs 300 to Rs 30,250 per ten grams at the bullion market Tuesday, tracking a weak trend overseas amid muted demand from jewellers at spot market.
Buoyed by firming global trend and increased buying by jewellers, gold prices recovered by Rs 150 to Rs 30,550 per 10 grams at the bullion market Monday.