Investor focus has shifted sharply to safe-haven assets like gold and silver, while oil prices are expected to move higher amid fears of supply disruptions.
According to Hindu belief, purchasing precious metals during the Shubh Muhurat (auspicious time) invites Goddess Lakshmi’s blessings for financial growth and happiness.
Gold price fell by Rs 109 to Rs 54,461 per 10 gram in the national capital on Monday.
It happens due to weak global cues.
Gold prices inched lower, dragged down by a firmer dollar.
Gold imports, which have a bearing on the current account deficit, declined 17.38 per cent.
Imports of the yellow metal stood at USD 29 billion in the corresponding period of 2021-22.
The imports during October this year also contracted by 27.47 per cent to USD 3.7 billion.
Gold prices rose by Rs 323 to Rs 53,039 per 10 grams in the national capital.
Silver also surged Rs 639 to Rs 62,590 per kg.
In the international market, gold was trading in green at USD 1,755.75 per ounce while silver was up at USD 21.55 per ounce.
Gold price in the national capital fell by ₹105 to ₹50,889 per 10 grams on Friday.
Silver, however, gained ₹21 to ₹58,336 per kg from ₹58,315 per kg.
The rupee appreciated 4 paise to 82.29 against the U.S. dollar in early trade on Friday
Jewelers are expecting an increase in sale this Dhanteras
22-carat gold was priced at Rs 48,100 per ten grams in Delhi
In Bengaluru, the 24-carat gold was priced at Rs 51,450 per 10 grams
Gold price in the national capital fell Rs 66 to Rs 50,516 per 10 grams on Thursday.
The precious metal had settled at Rs 50,582 per 10 grams.
Silver, however, climbed Rs 101 to Rs 56,451 per kilogram from Rs 56,350 per kg.
Gold and silver prices hit their highest levels in August 2020.
The price of 10 grams of gold on MCX reached the highest level of Rs 56191.
Gold is currently trading at around Rs 48440 per 10 gram.
The rupee inched up by 3 paise to 72.93 against the dollar in the opening trade on Friday. In the previous trade, the precious metal had closed at Rs 46,901 per 10 gram. In the international market, gold was quoting with gains at USD 1,810 per ounce and silver was flat at USD 26.71 per ounce.
In four days, gold has lost nearly Rs 2000 per 10 gram amid a slide in global rates.
Globally, gold dropped more than 2% on Thursday to break below the key psychological $1,800 level as a jump in the dollar.
Silver was caught in the slipstream, losing 2.6% to $26.16.
Gold had closed at Rs 48,844 per 10 gram.
Silver, in contrast, jumped Rs 3,461 to Rs 72,470 per kilogram from Rs 69,009 per kilogram in the previous trade.
The government announced a cut in import duty on gold and silver.
Sources said that the notification issued under PML Act, 2002, on December 28, 2020, is a requirement of FATF Dealers in Precious Metals and Precious Stones (DPMS) to carry out KYC and Customer Due Diligence only when they conduct cash transactions above Rs 10 lakh.
SGB Scheme are government securities denominated in grams of gold.
They are substitutes for holding physical gold.
Bond is issued by RBI of Government of India.
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