It is not an interest-bearing asset and has precious little industrial use
The price of 22-carat gold also fell Rs 10, with the yellow metal selling at Rs 64,140
The price of 22-carat gold declined Rs 10 with the yellow metal selling at Rs 63,610
What is worth observing for the Indian market is that since the last nine years, gold investors have made money each year, while in silver, gains have been consistent only in the last five years
Most base metals, except tin, have ended lower in the last two years
The government on Thursday updated the list of banks authorised to import gold and silver during 2024-25. As per the list, 11 banks, including HDFC Bank and ICICI Bank, have been authorised by the Reserve Bank of India to import gold and silver for 2024-25 with effect from April 1. The authorisation will be valid up to March 31 next year. "List of banks authorised to import gold/silver...has been updated," the Directorate General of Foreign Trade (DGFT) said in a public notice. Three banks -- Indian Overseas Bank, Punjab National Bank, and Union Bank of India -- have authorised by the RBI to import only gold for 2024-25 with effect from April 1 this year. Gold imports rose 38.76 per cent to USD 44 billion during April-February this fiscal. However, silver imports dipped 11.53 per cent to USD 4.62 billion during the period.
In Mumbai, the price of ten grams of 22-carat gold is at par with that in Kolkata and Hyderabad, at Rs 61,140
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 77,900
The price of 22-carat gold also declined Rs 10 with the yellow metal selling at Rs 61,240
The price of 22-carat gold also rose Rs 10 with the yellow metal selling at Rs 61,810
The price of 22-carat gold also declined Rs 10 with the yellow metal selling at Rs 60,790
The price of 22-carat gold also rose Rs 10 with the yellow metal selling at Rs 60,810
The price of 22-carat gold also declined Rs 10 with the precious metal selling at Rs 60,590
The price of 22-carat gold also inched up Rs 10 with the precious metal selling at Rs 60,610
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 76,200
The price of one kilogram of silver in Delhi, Mumbai, and Kolkata stood at Rs 75,500
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 65,570
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata and Hyderabad, at Rs 65,140
The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,490
The price of 22-carat gold also fell Rs 10 with the yellow metal selling at Rs 57,490