Gold
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Lower US Treasury yields have also contributed to the rise, as they boosted demand for gold as a safe-haven asset.
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The country's total gold demand stood at 131.4 tonnes in the quarter, down from 139.7 tonnes in the corresponding period last year, with jewellery consumption witnessing the sharpest decline.
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On the Multi Commodity Exchange (MCX), gold futures for August delivery climbed as much as 1.03 per cent or Rs 1,460 to touch an intraday high of Rs 1,42,848 per 10 grams at around 11:20 am. Meanwhile, silver futures for September delivery rose 1.54 per cent or Rs 3,380 to an intraday high of Rs 2,21,780 per kg.
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It is estimated that households in India possess more than 30,000 tons of gold, being one of the largest accumulations of gold in the world.
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According to data released by the Association of Mutual Funds in India (AMFI), gold exchange-traded funds (ETFs) witnessed a sharp turnaround, attracting net inflows of Rs 3,443.23 crore in June, up 570 per cent against an outflow of Rs 725 crore in May.
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The report analysed every major drawdown in gold and silver prices since the 1970s, comparing the magnitude of each correction, the time taken to reach a durable bottom and the period required to reclaim previous record highs.
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Jewellery demand is expected to remain subdued, though the festive season could revive sales, particularly in lightweight categories, the report from All India Gem & Jewellery Domestic Council (GJC) said.
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Industry estimates suggest that recycled gold volumes are rising sharply, potentially easing some of India's dependence on imported bullion.
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Currently, gold futures stand at Rs 1,44,199 and silver futures at Rs 2,22,100 per kg.
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The new framework aims to ensure that ETF prices stay closer to the value of the assets they track and better align domestic commodity ETF pricing with global markets, the regulator said.
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On Friday, MCX gold August futures dipped 2.47 per cent while MCX silver July futures lost 6.27 per cent. Currently, gold futures stand at Rs 1,55,600, while silver futures at Rs 2,48,201 per kg.
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RBI has said that reports claiming that the central bank may have sold USD 12 billion gold to rescue rupee, is not correct.
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Bloomberg report, quoting sources has claimed that the RBI may have sold part of its gold reserves to protect the country’s foreign exchange assets.
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In the international market, precious metals traded with mild gains. COMEX gold was up 0.17 per cent at $4,540 per ounce, while COMEX silver gained 0.25 per cent to trade near $76 per ounce.
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India's gold demand is expected to dip 10 per cent YoY or by 50-60 tonnes in CY 26, following the import duty hike, according to a report from World Gold Council.
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The government urged citizens not to believe or circulate such rumours, warning that the spread of unverified information could create unnecessary confusion and mislead the public.
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Under the revised norms, first-time applicants seeking permission to import gold will now undergo mandatory physical inspection of their manufacturing units by DGFT officials before authorisation is granted.
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The ongoing West Asia crisis has pushed up prices of several essential items and commodities around the globe, the impact of which can also been seen in Indian markets.
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Prime Minister Narendra Modi has recently appealed to citizens to practice financial discipline, so as to curb nation's dependence on imported goods, gold purchases, and fuel consumption. Modi has also called for exercising restrains when it comes to purchasing gold. “Gold is not necessary at this time,” the PM addressing a rally said recently. Meanwhile, if you happen to be in Dubai, you can bring gold to India under permissible duty limits.
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Indian government on Wednesday (13 May 2026) raised import tariffs on gold and silver to 15 percent from 6 percent. The government has made this move as part of its efforts to curb overseas purchases of the metals and ease pressure on the country's foreign exchange reserves.
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Prime Minister Narendra Modi on Sunday urged people to avoid gold purchases for a year to help protect foreign exchange reserves. India meets almost all of its gold consumption through imports.
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