Silver rebounded, gaining Rs 650 to Rs 39,650 per kg
Spot gold fell 1 per cent to $1,126.65 an ounce
Hedge funds cut their bets on a rally to the lowest since February, while outflows are ramping up from exchange-traded funds
Gold for February delivery rose to USD 1,141.30 an ounce. Last week, gold shed about 1.8 per cent
Total imports of the precious metal in the corresponding period of FY16 stood at $22.64 billion
US gold futures gained 0.6% to $1,143.60 per ounce on Monday
US gold futures settled up 0.7 per cent at $1,137.40
Imports were worth $3.54 billion in November last year, according to the official data
Standard gold closed at Rs 27,500 per 10g on Thursday to trade at a level not seen since Feb 4
Silver too cracked below the Rs 41,000-mark by falling Rs 450 to Rs 40,950 per kg
However, the report said that the proportion of investments in physical assets such as gold and real estate will reduce overtime
Silver, however, strengthened by Rs 100 to Rs 41,500 per kg
Gold prices sank to their lowest in more than 10 months on Monday
Officials said the recovery was made around 7:00 AM when a group of six passengers arrived from Dubai
The outflow meant asset under management (AUM) of gold funds plunged by more than 5 per cent last month
Of the estimated 100 tonnes of import, around 70% could be lying in the vaults due to evaporating consumer demand
The sale price, irrespective of the form of gold, is based on the closing market price of the previous day
Prices of silver also declined to Rs 41,100 per kg due to reduced offtake
A stronger dollar, spiking bond yields and rising optimism over the outlook for financial markets has hobbled gold, while the traditional saviours of a falling market, Indian and Chinese gold buyers, are hamstrung by cash controls and import curbs.
Icra expects India's CAD to be curtailed under $20 billion in FY2017, lower than around $22 billion in FY2016