At Multi Commodity Exchange, gold for delivery in December fell by Rs 142, or 0.50%, to Rs 28,243 per ten grams
A slightly weaker US dollar saw gold prices recover some of the losses achieved earlier in the week
India's gold imports declined to 60 tonnes in April-July, much lower than 250 tonnes in year-ago period
Poor consumer interest in jewellery, even for weddings, I-T raids, shave 1.5% off metal in Mumbai; silver sheds over 2%
This was the first inflow since May 2013, when Gold ETFs had seen an infusion of Rs 5 crore. Trading in Gold ETF segment has been tepid in the last three financial years. They had witnessed an outflow of Rs 903 crore, Rs 1,475 crore and Rs 2,293 crore in 2015-16, 2014-15 and 2013-14, respectively. The pace of outflow slowed down in 2015-16 as against the preceding two years on account of sluggish equity market. "In line with the overall demand for gold in India during the festive season, demand for gold ETFs also picked up as expected. This shows that investors are choosing this instrument as a means of investing in gold given that it is more efficient better and convenient as compared to other forms of gold purchase," Quantum AMC Senior Fund Manager (Alternative Investment Fund) Chirag Mehta said. According to the latest data available with ...
Spot gold was up 0.3 per cent at $1,231.40 an ounce at 0357 GMT, after rising 0.67 per cent in the previous session
Analysts expect a correction of 5-15% in coming months
According to the sources, the officials of Directorate General of Central Excise Intelligence (DGCEI), an arm under the Finance Ministry, has sent notices to these jewellers seeking details of the gold sales.
Spot gold was up 0.4 percent at $1224.76 an ounce at 0256 GMT. The metal had slipped to its lowest since June 3 at $1,211.08 an ounce on Monday.
The dollar rose to an 11-month high while yields on the US 10-year Treasury notes climbed to their highest since January at 2.2 per cent
This move will halt such sales of gold at a huge premium against old currency notes, which jewellers were doing till the Income Tax (I-T) department raided them across the country
Gold and jewellery establishments remained shut for the second day in the national capital today
Jewellers in many parts of India sold huge quantities of precious ornaments at a premium of up to 50%
Yesterday, gold prices zoomed by Rs 900 to trade at three-year high of Rs 31,750 per 10 grams in the national capital
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