The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,43,550
Banks are shifting from unsecured loans to gold-backed lending amid rising gold prices, but RBI says low LTVs and limited exposure pose no systemic risk
CEO said buying for investment had peaked in the past one year
Domestic gold prices were trading around ₹150,000 per 10 grams on Friday, after hitting a record high of ₹180,779 last week before sliding to as low as ₹133,687 this week
Commodity rout: Precious metals - Gold, Silver, Platinum have cracked up to 47.5%; base metals - aluminium, copper, zinc, lead and nickel - plunged up to 18% in global markets from January 29 highs.
In geopolitical news, the White House said that diplomacy is President Donald Trump's first choice for dealing with Iran and he will wait to see whether a deal can be struck at high-stakes talks
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,41,540
MCX Gold, MCX Silver prices crashed up to 14 per cent in Thursday's trading session tracking overnight losses in the precious metals.
Silver, on the other hand, UBS said, is likely to remain volatile going ahead in the backdrop of the sharp run seen in the last few months and the ensuing correction seen in the white metal recently.
In the two days after that, silver and gold recovered 11 per cent and 6.5 per cent, with the prices once again seeing pressure in trade today
The surge of precious metals came to a sudden halt at the end of last week, with silver seeing its biggest ever daily drop on Friday and gold plunging the most since 2013
The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,46,160
Goldman Sachs said on Wednesday that it saw significant upside risk to its $5,400 year-end forecast for gold on central banks maintaining their recent pace of accumulation
The price of 22-carat gold rose by ₹10, with ten grams of the yellow metal selling at ₹1,41,110
While the market was already stretched, one of the triggers for the selloff came from a sharp change in expectations around US monetary policy.
MCX gold April 2 futures rose 3.49 per cent to ₹1,49,017 per 10 grams, while MCX silver March contracts jumped 6.92 per cent to ₹2,52,603 per kg on Tuesday
Gold rose nearly 13 per cent in January in its biggest monthly gain since November 2009, while silver jumped 19 per cent
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,40,390
The white metal recorded its biggest ever intraday decline in the previous session
At current levels, MCX Gold prices have retraced up to 38.2 per cent, and Silver up to 50 per cent, highlights Aamir Makda Commodity & Currency Analyst of Choice Broking.