Coronavirus Outbreak: March gold imports hit six-and-half-year low on record price as lockdown squeezes retail demand: Report
The world’s second biggest consumer of gold imported 25 tonnes of gold in March, down from 93.24 tonnes a year ago, the source said.
Gold imports plunge 12% to hit three-year low in 2019, record high prices dent demand; trade deficit narrows
In August last year, the domestic spot gold prices surged to a life-time high of Rs 40,220 per 10 grams due to worries over a possible global recession and uncertainty over the US-China trade talks.
Gold prices soar Rs 187 to Rs 39,053 per 10 gram, silver jumps Rs 495 after rally in international prices, rupee fall
Spot gold for 24 Karat in Delhi was trading higher by Rs 187 with rally in international prices and rupee depreciation, HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
In the international market, both gold and silver were trading lower at $1,458 per ounce and $16.86 per ounce, respectively.
Gold slips Rs 140, still above Rs 38,000-mark on easing in demand from jewellers despite precious metal gaining overseas
A day after touching an all-time-high level, gold prices on Friday slipped Rs 140 but traded above the Rs 38,000-mark at Rs 38,330 per 10 gram, on easing in demand from jewellers despite the precious metal gaining overseas and sustaining above the psychological level of $1,500 an ounce
Gold prices decline by Rs 280 to Rs 32,830 per 10 gram on weak global cues, tepid demand from jewellers
Globally, gold price was quoted at $1,299.30 an ounce, down 0.31 percent and silver stood at $15.34 an ounce, lower by 0.13 percent in New York.
The import of gold of such magnitude strains balance of payments and affects exchange rate of rupee through impacting supply-demand balance of foreign exchange said Finance Minister Pranab Mukherjee.
Gold rose by Rs 35 to Rs 29,240 per 10 grams on buying by retailers for the ongoing marriage season, however, silver lost Rs 550 to Rs 55,850 per kg.
Selling pressure gathered momentum after gold headed for its worst weekly performance in more than four months in global markets as investors sold the metal, amid melting equities and other commodities, fearing the world economy might slow down.