Gold prices were flat on Wednesday, with investors readying themselves for the US Federal Reserve's rate-hike decision
Under this gold will be imported at a duty lower than applicable to refineries
Higher interest rates tend to increase the opportunity cost of holding gold as it yields no interest
Analysts' target prices also indicates good upside for gold financiers
Spot gold was up 0.4 per cent at $1,775.69 per ounce
Silver prices rise by Rs 1,300 per kg, trading at Rs 66,500 today
The highest amount of gold seized was of Myanmar origin, marking a significant shift from 2019-20, when the majority of it was from West Asia
Ten grams of 22-carat gold is trading at Rs 49,450
22-carat gold was trading at Rs 49,250
Gold prices have risen about 2.3% this week in what would be their second straight weekly gain
In Delhi, 24-carat and 22-carat gold is trading at Rs 53,330, and Rs 48,800
In Delhi, 24-carat and 22-carat gold is trading at Rs 53,130, and Rs 48,700, respectively
Gold prices slipped, as a stronger US dollar made the greenback-priced metal more expensive for buyers holding other currencies
The airport customs preventive officers, seized 1849 grams of gold jewellery worth over 94 lakhs from two passengers at the IGI Airport, the Customs department informed
Lower rates tend to lift the appeal for bullion in comparison with other interest-bearing assets
Gold price in the national capital declined Rs 408 to Rs 52,847 per 10 grams on Monday amid a fall in prices of precious metal in overseas markets, according to HDFC Securities. In the previous trade, the yellow metal had settled at Rs 53,255 per 10 grams. Silver also dropped by Rs 594 to Rs 61,075 per kilogram. In the international market, gold was trading in red at USD 1,745.5 per ounce while silver was down at USD 20.83 per ounce. "COMEX gold edged lower in Asia as a gauge of the dollar index gained. Market participants are waiting for fresh clues about the course of the Federal Reserve's monetary policy tightening path after the previous week's hawkish comment from Fed members," said Dilip Parmar, Research Analyst at HDFC Securities.
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai was Rs 48,160, Rs 48,050, and Rs 49,700, respectively
One-year returns, however, better than most equity, debt funds
The price of ten grams of 22-carat gold in Delhi, Bengaluru, and Chennai was Rs 48,350, Rs 48,250, and Rs 48,920, respectively
The latest decline in the reserves was primarily on account of a fall in the RBI's gold reserves, which fell by $705 million to 37.06 billion