Gold prices in India opened higher on Friday on the Multi Commodity Exchange (MCX) tracking gains in international prices. However, it still remained significantly off their recent highs.
Gold futures rose moderately on Wednesday's session as the market rebounds in the opening session after investors shifted to haven assets in a risk-off environment amid rising coronavirus cases across the world, including India.
Among the Budget proposals being considered for the Union Budget is that the long term capital gains (LTCG) tax will be fixed at 24 months or two years uniformly for all asset classes.
A day after the prices of gold hit the highest in nearly seven years at $1,582.59, on Tuesday it dropped in India amid a decline in global markets and a rebound in rupee against the US dollar.
Gold on Friday jumped Rs 109 to Rs 38,894 per 10 gram in the national capital amid a weaker rupee, according to HDFC Securities. The yellow metal had closed at Rs 38,785 per 10 gram on Thursday.HDFC Securities Senior Analyst (Commodities) Tapan Patel said spot gold for 24 karat in Delhi gained Rs 109, supported by a weaker rupee. He added that the rupee was trading around 14 paise weaker against the dollar during the day.
Gold prices on Friday fell by Rs 111 to Rs 37,974 per 10 gram in futures trade as participants cut down their bets amid a weak global trend. Silver futures on Friday slumped by Rs 168 to Rs 44,442 per kg as participants cut down their bets taking weak cues from overseas markets.
Are you planning to buy gold or silver jewellery? Then this news is important to you. As rules regarding the purchase of gold jewellery are set to change from the new year i.e January 1. This new rule will also affect the gold rates but it will also help you in buying pure gold.
Diamond sales are certainly outgrowing gold sales. Tanishq stores across the country are all packed since last few days and hence the company is expecting a robust Dhanteras and Diwali sales.
Are you planning to buy gold this Dhanteras? Then this news is only for you. On the occasion of Diwali, Dhanteras festival, most Hindu families, businessmen prefer purchasing gold. So, ahead of festive season, several banks offer rewards like discounts or cashback on gold purchases. Here are some of the top bank offers on gold purchases in 2019.
The yellow metal was trading marginally higher by Rs 3 at Rs 39,375 per 10 gram. On Wednesday, gold had closed at Rs 39,372 per 10 gram, according to data from HDFC Securities.
Prices of 24 karat gold rose by Rs 538 to Rs 38,987 per 10 gram in the national capital on Tuesday, mainly on the back of recovery in global rates, according to HDFC Securities. Silver prices too witnessed similar trends. The rate of silver zoomed by Rs 1,080 to Rs 47,960 per kilogram in the national capital, as per the data.
Gold prices on Monday retouched the all-time high mark of Rs 38,470 per 10 gram in the national capital after the precious metal advanced by Rs 50 on fresh buying from jewellers amid positive overseas trend, according to the All India Sarafa Association.
Silver prices on Wednesday surged Rs 660 to Rs 40,190 per kg in the national capital amid increased offtake by industrial units and coin makers even as gold prices dropped by Rs 70 to Rs 35,500 per 10 gram, according to All India Sarafa Association.
In the previous session, gold had risen by Rs 200.
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