Gold prices slipped by Rs 130 to Rs 29,670 per ten gram, snapping a six-day winning streak at the bullion market Wednesday, as demand from jewellers dried up at prevailing levels amid weak global cues.
Powered by a firm global trend and persistent buying by jewellers at the domestic spot market, gold prices climbed for the sixth straight day, gaining Rs 140 to Rs 29,800 per ten grams at the bullion market Tuesday.
Continuing with rising streak for the 5th straight session, gold prices on Monday surged by Rs 160 to 3-week high of Rs 29,660 per 10 grams at the bullion market here in line with firm trend overseas and persistent buying by jewellers at domestic spot market.
Rising for the third straight day, price of gold surged by Rs 180 to 29,350 per 10 gram at the bullion market Friday in line with a firming trend overseas and increased buying by jewellers in domestic spot market.
Tracking a firm trend overseas and increased buying by jewellers at domestic markets, gold prices edged up by Rs 10 to Rs 29,170 per 10 grams at the bullion market Thursday.
Reversing its two-day falling streak, gold rebounded by Rs 130 to Rs 29,160 per 10 grams Wednesday, triggered by a firm trend overseas amid fresh buying by jewellers at the domestic spot market.
Gold prices dropped by up to Rs 100 per 10 grams at domestic bullion markets following lower demand from stockists and investors driven by weakness in international markets.
Positive global cues triggered gold prices to sharply move up by Rs 505 in the bullion market where the precious metal closed at 29,225 per 10 gm on Saturday.
Tracking in line with global markets, gold prices fell by Rs 145 to trade at over three-month low of Rs 28,720 per ten grams at Delhi bullion market Friday.
Halting its two-day rising trend, gold prices declined by Rs 135 to trade below Rs 29,000 at Rs 28,865 per 10 gram at the bullion market Thursday owing to slackened demand by jewellers and retailers at prevailing level even as the precious metal firmed up overseas.
Rising for the second straight day, gold prices advanced by Rs 150 to regain the crucial Rs 29,000-mark per 10 grams at the bullion market Wednesday in tandem with a firming trend overseas and increased buying by jewellers at domestic spot market.
Snapping its three-day falling trend, gold bounced back to trade Rs 185 higher at Rs 28,850 per 10 grams at the bullion market Tuesday, tracking a firm trend overseas amid fresh buying by jewellers at domestic spot market.
The government has rolled back its budget decision to charge 1% tax collection at source on cash purchase of gold jewellery.
New Delhi: The slide in both gold and silver continued unabated for the third day largely in tune with a weakening trend overseas amid tepid demand from jewellers and retailers in the domestic spot markets.
Gold prices cracked below Rs 29,000-mark by falling Rs 355 at Delhi bullion market Friday in line with a weak trend overseas amid sluggish demand from jewellers.
Gold bounced back from a six-week low by edging up Rs 25 to Rs 29,225 per 10 grams Thursday, snapping its two-day losing streak, driven by a rising trend overseas amid scattered buying by jewellers at the domestic spot market.
Continuing its losing falling streak for the second straight day, gold prices slumped by another Rs 370 to trade at a six-week low of Rs 29,200 per ten grams at the bullion market Wednesday in tandem with a weakening global trend amid muted demand from jewellers at spot market.
Gold edged higher on Friday after two days of losses but remained on track for its biggest weekly slide in nearly two months on growing expectations of an increase in U.S. interest rates as soon as next month.
Zee Media Bureau
Mumbai: One of the most famous temple in India, Shri Siddhivinayak has deposited around 44 kg of gold in the government's gold monetisation scheme.
Gold was trading near a three-week low on Thursday after minutes from a Federal Reserve policy meeting signalled the U.S. central bank could raise rates as soon as next month, boosting the dollar.