Gold Demand

Gold prices slip below Rs 79,000 per 10 gm on poor offtake by retailers

Gold prices slipped below Rs 79,000 per 10 grams in the national capital on Tuesday due to poor offtake by stockists and retailers, according to the local marketmen. Gold declined during the last trading session of the year as participants were cautious, traders said. The precious metal of 99.9 per cent purity declined Rs 550 to Rs 78,950 per 10 grams. It had closed at Rs 79,350 per 10 grams on Monday. In the past one year, gold prices have surged Rs 15,030 or 23.5 per cent to Rs 78,950 per 10 grams. "In 2024, domestic gold prices surged more than 20 per cent while spot gold rose around 26 per cent," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said. Gandhi highlighted the rally in gold prices is driven by multiple factors like global geopolitical and economic uncertainty, interest-rate cuts by Western central bankers, and strong demand from central banks and high-net-worth individuals. Silver prices crashed by plummeting Rs 2,000 to Rs 89,700 per kg on Tuesda

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The domestic gold jewellery consumption in value terms is expected to continue its growth momentum in the current financial year and is likely to witness an on-year rise of 14-18 per cent, a report said on Tuesday. Rating agency Icra in a report said in FY25, gold jewellery consumption growth is pegged at 14-18 per cent in value terms, led by favourable realisations. In 2023-24, gold jewellery consumption growth had witnessed a growth of 18 per cent in 2023-24, primarily driven by realisations even as volume growth was subdued. According to the report, while gold prices were volatile, improving consumer sentiments and festive-led demand aided consumption growth in the recent months. Moreover, a sharp 900 bps cut in import duty in the Union Budget in July 2024, and consequent correction in gold prices for a brief period led to some pre-buying of jewellery as well as bars and coins during the second quarter of FY25, which is generally a seasonally weak quarter, it said. This, couple

Gold falls Rs 10, silver down Rs 100; yellow metal trading at Rs 78,860

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Spot gold was down 0.1 per cent at $2,648.69 per ounce, as of 1030 GMT. US gold futures also eased 0.1 per cent to $2,672.40

Gold prices slip below Rs 79,000 per 10 gm on reduced demand, global cues

Gold prices slipped below Rs 79,000 per 10 kg in the national capital on Wednesday due to poor offtake by stockists and retailers amid weak global trends, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity fell by Rs 150 to Rs 78,850 per 10 grams. It had closed at Rs 79,000 per 10 grams in the previous session. Price of gold of 99.5 per cent purity extended the losses for the third straight day, declining by Rs 150 to Rs 78,450 per 10 grams from the previous close of Rs 78,600 per 10 grams. However, silver rose Rs 100 to Rs 92,500 per kg. On Tuesday, the white metal had settled at Rs 92,400 per kg. In futures trade on the Multi Commodity Exchange (MCX), gold contracts for February delivery fell Rs 93 or 0.12 per cent to trade at Rs 76,810 per 10 grams. Silver contracts for March delivery declined Rs 322 or 0.35 per cent to Rs 91,875 per kg on the bourse. Comex gold futures in the Asian market hours edged lower by USD 4.90 per ounce or 0.18 p

Silver prices tumble to 3-week low at Rs 90,900; gold slips to Rs 78,700

Silver prices tumbled to a three-week low by losing Rs 4,900 to Rs 90,900 per kg, while gold slipped Rs 100 to Rs 78,700 per 10 grams in the national capital on Thursday on frantic selling by stockists and retailers, according to the All India Sarafa Association. The yellow metal of 99.5 per cent purity declined Rs 400 to Rs 78,300 per 10 grams on Thursday. Price of gold of 99.9 per cent and 99.5 per cent purity closed higher at Rs 78,800 and Rs 78,700 per 10 grams, respectively, on Wednesday. Silver also dropped Rs 4,900 to trade at Rs 90,900 per kg, marking a steepest fall on poor offtake by jewellers and coin makers. Earlier, the white metal had slumped Rs 4,600 on November 4. On Wednesday, silver saw its steepest single-day jump of Rs 5,200 and regained the Rs 95,000 per kg level after a gap of two-weeks in the national capital. Traders said the sentiment was downbeat largely in sync with a firm trend overseas amid uncertainty over the implications of US President-elect Donald

Gold prices ease from one-week high as US dollar rebounds after 1-week low

Spot gold was down 0.2 per cent at $2,627.60 per ounce as of 1238 GMT, after hitting its highest level since Nov. 11 earlier in the session. US gold futures were steady at $2,631.30

Gold slide continues; price declines Rs 700 to Rs 77,050 per 10 grams

Gold prices saw yet another steep fall on Thursday, with the precious metal declining Rs 700 to Rs 77,050 per 10 grams in the national capital amid subdued demand trend in the global markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity closed at Rs 77,750 per 10 grams in the previous session, a day after falling marginally by Rs 50 on Wednesday. Silver also plummeted Rs 2,310 to Rs 90,190 per kg against the previous close of Rs 92,500 per kg. Extending the losses for the fourth straight session, the price of gold of 99.5 per cent purity fell Rs 700 to Rs 76,650 per 10 grams. It had ended at Rs 77,350 per 10 grams on Wednesday. In futures trade on the MCX, gold contracts for December delivery plunged Rs 804 or 1.08 per cent to trade at Rs 73,678 per 10 grams. During the day, the precious metal declined Rs 1,182 or 1.59 per cent to Rs 73,300 per 10 grams. "Gold's weakness persisted with price falling near Rs 73,500 in MCX as the dollar .

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Gold dips Rs 10 to Rs 80,550; silver down Rs 100, trading at Rs 96,900

The price of 22-carat gold also witnessed a drop of Rs 10, with ten grams of the yellow metal selling at Rs 73,840

Gold up Rs 10 at Rs 81,340; silver falls Rs 100; trading at Rs 99,900

The price of 22-carat gold also witnessed a rise of Rs 10, with ten grams of the yellow metal selling at Rs 72,960

Gold demand strong as import duty cut boosts Dhanteras buying: MMTC-PAMP

The gold demand in the country has strengthened during the key festival of Dhanteras, buoyed by a recent reduction in import duties and traditional buying patterns, a senior MMTC-PAMP official said on Tuesday. "The market sentiment for gold remains robust this Dhanteras season, with sustained demand for our pure gold products," MMTC-PAMP Managing Director and CEO Vikas Singh told PTI. The reduction in import duty from 15 per cent to 6 per cent has amplified festival season purchases, with consumers showing a strong preference for high-purity gold products, he said. "Customer preference for quality and purity continues to be a key driver in purchase decisions, particularly for our 24K gold products with 99.99 per cent + purity," Singh added. The positive momentum is expected to continue into the upcoming wedding season, which traditionally accounts for approximately half of India's annual gold consumption, Singh said. He noted that beyond seasonal factors, gold demand benefits from