Bullion refiner MMTC-PAMP on Wednesday launched what it called the industry's first organised buyback programme for silver coins, bars and jewellery, initially covering seven cities before a planned nationwide rollout. The service will begin at select exclusive brand stores and purity verification centres in Kolkata, Bhubaneswar, Guwahati, Ludhiana, Ahmedabad, Mumbai, and New Delhi, with an expansion across all its stores planned for the next fiscal year. MMTC-PAMP currently operates 17 gold recycling stores in India and aims to extend its silver buyback service across these centres. Customers can have their silver products melted and tested using XRF technology under security surveillance at the company's purity verification centres. Payment will be made directly to a designated bank account based on prevailing market buyback rates, the company said in a statement. "Indian households collectively hold approximately 35,000 tonnes of gold and much more silver. While silver mine ...
The total above ground stock of gold is large in both physical and financial terms: almost 220,000 tonnes of gold have been mined ever, WGC estimates, valued at nearly $31 trillion at the end of 2025.
The country's gold imports rose 28.73 per cent to USD 69 billion during April-February 2025-26 on account of high prices of the precious metal, according to the Commerce Ministry data. Gold imports stood at USD 53.52 billion in April-February 2024-25. The rise in gold imports pushed the country's trade deficit (difference between imports and exports) to USD 310.60 billion during the 11-months of the last fiscal as compared to USD 261.80 billion during April-February 2024-25, the data showed. Prices of the yellow metal are hovering at around Rs 1,51,500 per 10 grams (inclusive of all taxes) in the national capital. Switzerland is the largest source of gold imports, with about 40 per cent share, followed by the UAE (over 16 per cent) and South Africa (about 10 per cent). The precious metal accounts for over 5 per cent of the country's total imports. The country's total imports from Switzerland were up 11.57 per cent to USD 23.5 billion during April-February 2025-26. In February, go
The fall in gold prices, according to analysts, may actually support jewellery demand in the medium-term, even though it may create short-term pressure for some players
Existing investors should rebalance but avoid complete exit
Gold prices declined Rs 853 to Rs 1.62 lakh per 10 grams in futures trade on Wednesday tracking a bearish sentiment in the international markets amid mixed signals surrounding the ongoing conflict in West Asia. According to the Multi Commodity Exchange, the yellow metal for April delivery depreciated by Rs 853, or 0.52 per cent, to Rs 1,62,450 per 10 grams in a business turnover of 7,529 lots. Analysts said the recent gains in the precious metal prices faded as developments surrounding the conflict involving the US, Israel and Iran remained uncertain, keeping the investors cautious. In the international markets, gold futures on the Comex for April delivery slipped USD 30.15, or 0.58 per cent, to USD 5,211.95 per ounce. "Part of the gains faded amid conflicting developments surrounding the ongoing US-Israel conflict with Iran. The evolving geopolitical situation continues to cloud the outlook for Washington's monetary policy, particularly expectations for potential interest rate cut
Bullion fell as much as 2.5 per cent to below $5,050 an ounce in early trading, after its first weekly decline in more than a month
The price of 22-carat gold decreased by ₹10, with ten grams of the yellow metal selling at ₹1,49,290
Spot gold gained 1.6 per cent to $5,168.69 per ounce as of 0249 GMT while US gold futures for April delivery added 1.1 per cent to $5,178.40
The US Supreme Court's decision takes away a big cloud that's been hanging over global trade for a year now, analysts said.
Domestic gold prices were trading around ₹155,000 per 10 grams on Friday, having hit a record high of ₹180,779 last month before sliding to as low as ₹133,687 earlier in February
Gold outlook: Spot gold continues to trade in its short-term range of $4,700-$5,100; however, moves have become quite volatile and choppy
Bullion fell as much as 0.8 per cent on Monday, after climbing 2.4 per cent in the previous session
US yields fell on Tuesday after a raft of data suggested the economy may be softening, giving the US Federal Reserve more room to cut interest rates
Spot gold climbed as much as 1.7 per cent in early trading, and was also supported by a landslide election victory for incumbent Japanese Prime Minister Sanae Takaichi
The US dollar was at its lowest level since February 4, making greenback-priced metals cheaper for overseas buyers
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
Gold rose nearly 13 per cent in January in its biggest monthly gain since November 2009, while silver jumped 19 per cent
Gold and Asian equities rebounded on Tuesday as trading conditions steadied following sharp swings in metals markets, with sentiment helped by stronger-than-expected US factory data
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.