World's second biggest bullion market remained at a discount to the global benchmark as purchases across the region were curbed by higher prices
Dealers said they were seeing some investment demand for gold, though not robust purchases
Govt also could bring import and export of jewellery under one organisation
Gold prices have steadied after posting their biggest quarterly rise in nearly 30 years in the three months to the end of March on reduced expectations that the US Federal Reserve will push ahead with several rate rises this year
Speculators raised their bets, tracking a firming trend overseas
Gold prices have steadied after posting their biggest quarterly rise in nearly 30 years in the three months to March, driven by a reining in of expectations that the US Federal Reserve will push ahead with several rate hikes this year
The world's second biggest consumer imports in March slumped to 18 tonnes from 125 tonnes in the previous year.
Speculation that interest rates will stay low also helped gold and silver in their own right
Janet Yellen said US economy is on a solid course, still on track to warrant further interest rate hikes
Analysts attribute the outperformance to growth concern, hiatus in the dollar's rise and return of pent investment demand for gold
"Ten tolas," the denomination of gold bars that Osama bin Laden instructed Al Qaeda's general manager to acquire in 2010
Spot gold rose to a session-high of $1,227.60 an ounce before paring some gains to trade up 0.9%
Standard gold (99.5 purity) slumped by Rs 190 to end at Rs 28,155 per 10 grams
Given the sharp gains in the March quarter and looking at various indicators, buying on dips is a good strategy
4.9 million households have further been removed from Phase-III, bringing down total addressable population from 38.8 million households to 33.2 million, with max impact in West Bengal, Kerala, Goa and Jharkhand
Higher gold prices curbed demand for the precious metal in Asia this week
Demand is expected at 60-70 tonnes, lowest since Q1 of 2009, when local purchases totalled 41 tonnes
Rising interest rates will lift the opportunity cost of holding non-yielding bullion, while boosting the dollar
Jewellery industry likely to record 5-6% value growth during 2016 calendar yr
Dollar hit a 1-1/2-week high versus a basket of currencies ahead of US non-farm payrolls and the manufacturing purchasing managers index on Friday