Prices have risen more than 4% this week, putting gold on course for its longest winning streak since late 2011
Leading stock exchange NSE on Friday said it willaccept gold bars produced by the domestic refiners for settlement of the gold futures contracts traded on its platform.
In New Delhi, the price of 22-carat gold is about Rs 46,800 per 10 gram, while price of 24-carat is retailing at Rs 48,000 today
Traders book profit on gold and silver, MCX crude futures follow WTI, which hit a 21-year low of $18 a barrel
Similarly, silver prices also jumped Rs 960 to Rs 48,870 per kg from Rs 47,910 per kg in the previous trade
With this, retail investors can now buy coins in the futures market and store it in a vault of his choice before taking delivery
In India, the rise in gold prices as well as the depreciation in the rupee value has pushed its prices to new highs
The metal has gained nearly 2% so far this week, on track for a second consecutive weekly gain
Gold futures up on spot market demand
As investors awaited policy meetings from the US Fed and the BoJ next week while markets in top buyer China were shut for a holiday
The yellow metal for delivery in October gained Rs 50, or 0.16 per cent, to Rs 31,088 per 10 grams in 332 lots