Gold up 3% in 2 days on global factors, Centre's ban on import from S Korea

Meanwhile, Monday's notice putting the sector under PMLA has disturbed the gold trade sentiment

The gold price has seen a sharp rally over Rs 1,000 in just three days because of global price rise on the back of increasing geo-political tensions and resumption of safe haven demand for gold. 

The Centre's ban on zero duty import of gold from South Korea also has impacted the price. Because of this, a discount of around Rs 450 per 10 gram gold seen in the last week has shrunk to Rs 150-200 on Monday. 

On Tuesday, the price of standard gold in Mumbai closed at Rs 29,765 per 10 gram, up 3 per cent from Rs 28,910