The price of 22-carat gold also witnessed a decline of Rs 10, with ten grams of the yellow metal selling at Rs 70,990
In Delhi, the price of ten grams of 22-carat gold stood at Rs 71,140 and in Bengaluru, and Chennai, ten grams of 22-carat gold was trading at Rs 70,990
At 6:38 AM, GIFT Nifty Futures were trading 114 points lower at 24,871, indicating a potential gap-down opening for Indian markets.
The precious metal had settled at Rs 78,450 per 10 grams in the previous close on Friday
Gold prices rose by Rs 150 to hit a fresh all-time high of Rs 78,450 per 10 grams in the national capital on Friday on increased demand from jewellers and retailers driven by the ongoing festive season. The precious metal closed at Rs 78,300 per 10 grams on Thursday. Silver surged Rs 1,035 to Rs 94,200 per kg from Rs 93,165 per kg in the previous session, according to the All India Sarafa Association. Meanwhile, gold of 99.5 per cent purity climbed Rs 200 to reach an all-time high level of Rs 78,100 per 10 grams. Bullion traders attributed the rise in precious metal prices to the emergence of buying by jewellers and retailers driven by the ongoing 'Navratri' festival. In futures trade on the Multi Commodity Exchange (MCX), gold contracts for December delivery rose Rs 131 or 0.17 per cent to Rs 76,375 per 10 grams, hovering near an all-time high. "Silver witnessed steady moves as participants widened their bets on a firm spot demand seen in physical markets due to the start of the
Gold price today: Gold prices are expected to be highly volatile on geopolitical worries and crucial nonfarm payroll report.
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Chennai at Rs 77,560
The price of 22-carat gold also rose by Rs 10, with ten grams of the yellow metal selling at Rs 71,010
The price of 22-carat gold also fell by Rs 10, with ten grams of the yellow metal selling at Rs 70,490
While banks are dominant in jewellery-backed agriculture loans, NBFCs lead in retail gold loans and are expected to expand at 17-19 per cent in FY25
The survey found that gold and property are the two most favoured assets when women entrepreneurs seek loans. The trend is most prevalent in Chennai, followed by Mumbai and Delhi
The price of 22-carat gold also fell by Rs 10, with ten grams of the yellow metal selling at Rs 70,790
Spot gold fell 0.2% to $2,653.00 per ounce, as of 0817 GMT, as traders locked in profits following last week's rally. U.S. gold futures rose 0.2% to $2,674.40
UBS analysts have raised gold's target to $2,750 per oz by end-2024 (from $2,600 per oz), $2,850 per oz by mid-2025 (from $2,700 per oz), and $2,900 per oz by end-3Q25 (from $2,750 per oz)
The price of 22-carat gold also climbed Rs 10, with ten grams of the yellow metal selling at Rs 71,010
Union Commerce Minister Piyush Goyal on Friday said our sisters will not have a problem in buying mangalsutras after the steep cut in gold import duties. Speaking at an event organised by a south-based Malabar Gold and Diamonds, the minister said that our sisters can now have heavier mangalsutras as well. "I am told the business has shot up after that (the duty cut). Business has gone up like anything. Now, our sisters will not have a problem with (buying) their mangalsutras, I think, and you can have a heavier mangalsutra," he said. It can be noted that earlier this month, Finance Minister Nirmala Sitharaman announced a steep cut in customs duty on gold to 6 per cent from 15 per cent earlier. Goyal said the duty cut used to dominate every discussion within the gold industry, and there was a demand for lowering duties. The minister also exhorted the Gold and Jewellery Export Promotion Council to help promote Indian tourist destinations from jeweller outlets abroad, stressing that
The price of 22-carat gold fell Rs 10, with ten grams of the yellow metal selling at Rs 70,590
Imports more than tripled to 140 tons in August from the previous month, according to the World Gold Council
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 70,610
The price of 22-carat gold rose Rs 10, with ten grams of the yellow metal selling at Rs 70,010