The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Spot gold was up 0.2% at $1,970.21 per ounce, as of 0748 GMT, after hitting a near one-month peak of $1,978.21 on Tuesday
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Weddings were the primary reason for buying gold, with 43 per cent of the Indian households surveyed buying the yellow metal for this purpose
MCX Gold may rally to Rs 53,570 on the upside; break and sustained trade above Rs 52,250 to add momentum.
IBJA has also suggested to the govt to create a notional entity wherein all GST is immediately refunded by the govt to the trader as soon as gold is deposited in the vault
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
(Reuters) - Gold prices remained trapped in a tight range on Friday as the dollar firmed on prospects of aggressive interest rate hikes by the U.S. Federal Reserve, partially offsetting safe-haven demand fuelled by the lingering Russia-Ukraine conflict.
The price of gold differs in regions based on parameters such as making charges, excise duty, and state taxes.
Ten gram of 24-carat gold in Chennai is trading at Rs 52,400, while ten grams of 22-carat gold in Chennai is trading at Rs 48,030.
India's National Stock Exchange (NSE) said on Saturday it planned to set up a new domestic spot gold exchange that would bring more efficiency and transparency to bullion pricing.
India's gold imports bounced back to 1,067.72 tonnes in 2021 from 430.11 tonnes during 2020 when the demand was hit due to the COVID-19 pandemic, Gem Jewellery Export Promotion Council (GJEPC) said
A rush to safe-haven assets earlier this week due to the Ukraine crisis powered gold prices to near record levels hit in August 2020.
Western nations have piled sanctions on Moscow, driving prices higher across a range of commodities
Gold in the national capital on Monday rallied by Rs 1,298 to Rs 53,784 per 10 gram in line with strong international precious metal prices and sharp rupee depreciation, according to HDFC Securities.
Gold hits near nine-month high on Tuesday, as the Eastern Europe situation intensified after Russia ordered troops into breakaway regions of eastern Ukraine, supporting demand for safe-haven bullion.
Gold retreated slightly on Friday as a potential Russia-US meeting cooled some nerves about a rise in the Ukraine conflict, but the recent rally set bullion up for a third straight weekly gain.
US and European stock futures bounced back on Friday and selling pressure on Asian shares eased after the US Secretary of State agreed to a meeting with Russia's foreign minister, over Ukraine crisis.
The US Dollar is set to break a two-day losing streak on Thursday, while the Japanese yen gained, after Russia reports of fire in eastern Ukraine jangled market nerves and boosted safe haven bets.