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Gold prices skyrocketed to an all-time high of ₹88,500 per 10 grams as global uncertainties and Trump’s new tariffs drive investors towards safe-haven assets.

Gold surges Rs 2,430 to hit lifetime high of Rs 88,500 per 10g amid Trump's tariff threats

Gold prices skyrocketed to an all-time high of ₹88,500 per 10 grams as global uncertainties and Trump&rsquo;s new tariffs drive investors towards safe-haven assets.

Gold prices zoomed by Rs 2,430 to hit a lifetime high of Rs 88,500 per 10 grams in the national capital on Monday following firm global trends and a weak rupee, according to the All India Sarafa Association.
The precious metal breached the record USD 2,900 an ounce level in spot markets globally after US President Donald Trump announced imposition of fresh 25 per cent tariffs on all steel and aluminum imports to the US.
Heavy buying by jewellers and retailers also boosted the prices.
The precious metal of 99.9 per cent purity had settled at Rs 86,070 per 10 grams last week.
Gold of 99.5 per cent purity surged by Rs 2,430 to hit a record high of Rs 88,100 per 10 grams in the local markets.
Silver prices increased Rs 1,000 to Rs 97,500 per kg.
Investors are dumping riskier assets like stocks as they prefer safe haven amid global economic uncertainties, traders said.
In futures trade on the MCX, gold contracts for April delivery rallied Rs 940 to hit a new lifetime high of Rs 85,828 per 10 grams.
&ldquo;Gold witnessed strong gains, surging above Rs 85,800 in MCX and hitting USD 2,900 in spot markets as Trump&rsquo;s new round of tariffs on metal products intensified trade war concerns.
&ldquo;With no specific clarity on which countries are included or excluded, uncertainty in global trade has driven significant bullion buying,&rdquo; Jateen Trivedi, VP Research Analyst &ndash; Commodity and Currency, LKP Securities, said.
The subseqent contract for June delivery surged Rs 1,015 or 1.18 per cent to hit a fresh peak of Rs 86,636 per 10 grams.
Silver futures for March delivery climbed Rs 632 to Rs 95,965 per kg on the Multi Commodity Exchange (MCX).
Globally, Comex gold futures appreciated by USD 45.09 per ounce or 1.56 per cent to hit a record high of USD 2,932.69 per ounce. Meanwhile, spot gold in the global markets breached the psychological level of USD 2,900-mark.
&ldquo;Gold climbed to a new record high on Monday as fund flow increased towards the safe haven asset in response to President Trump&rsquo;s latest declaration,&rdquo; Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
Comex silver futures in the Asian market hours rose nearly 1 per cent to USD 32.76 per ounce.
According to a report by Dutch multinational ING Bank, gold has already hit a series of fresh record highs this year. Tariff concerns that risk higher inflation and slower economic growth are spurring demand for safe haven assets.
The precious metal prices will hit more record highs this year, with USD 3,000 per ounce now in sight, it said.

Gold prices soared to a record high of Rs 82,700 per 10 grams in the national capital, driven by sustained buying and global market trends.

Gold hits all-time high of Rs 82,700 amid global uncertainties

Gold prices soared to a record high of Rs 82,700 per 10 grams in the national capital, driven by sustained buying and global market trends.

Gold prices rallied by Rs 630 to a lifetime high of Rs 82,700 per 10 grams in the national capital on Wednesday following persistent buying by jewellers and retailers amid strong global trends, according to the All India Sarafa Association.
Rallying for the sixth straight session, gold of 99.5 per cent purity appreciated by Rs 630 to hit a lifetime high of Rs 82,330 per 10 grams.
"Gold prices touched new all-time highs in Wednesday's session. The uncertainty surrounding US President Donald Trump's trade policy appears to be an important factor driving a haven flow toward precious metals," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
Gold of 99.9 per cent purity previously hit its record level of Rs 82,400 on October 31, 2024. Gold of 99.5 per cent purity hit an all-time of Rs 82,000 per 10 grams same day.
Silver also surged Rs 1,000 to Rs 94,000 per kg on Wednesday.
Meanwhile, in futures trade on the Multi Commodity Exchange (MCX), gold contracts for February delivery increased by Rs 299 or 0.38 per cent to trade at Rs 79,523 per 10 grams on Wednesday.
"In the domestic market, MCX gold registered comparatively minor gains, limited by the rupee's strength. This currency strength capped the upward movement in domestic gold prices," Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities, said.
Silver futures for March delivery increased Rs 204 or 0.22 per cent to Rs 92,295 per kg.
Globally, Comex gold futures rose USD 10.20 per ounce or 0.37 per cent to USD 2,769.40 per ounce.
"Gold prices continue to rise as the dollar weakens. Markets are worried after Trump delayed his promised trade tariffs on China, Mexico, and Canada, raising fears they may come next month sparking fears of a prolonged trade war," Abans Holdings' Chief Executive Officer Chintan Mehta, said.
Further, weak economic data has added to the bullish outlook for gold, with retail sales falling short of expectations and unemployment claims, Mehta said.
These signs of economic strain have increased speculation that the US Federal Reserve may ease its hawkish stance and introduce more rate cuts this year, and boosting gold's appeal as a safe-haven asset, he added.
Silver Comex futures also traded 0.27 per cent higher at USD 31.58 per ounce.
According to Augmont's Head of Research Renisha Chainani, "Since there is a lot of uncertainty in the market about the tariffs that US President Trump plans to put on imports, the precious market is building momentum to hit record-high levels.
"Over the past ten years, the US trade deficit has almost doubled, rising from USD 500 billion to USD 850 billion in 2024," Chainani said.

Gold and silver prices surged in the national capital with gold climbing Rs 300 to reach Rs 80,300 per 10 grams. 

Gold rises by Rs 300 to Rs 80,300 per 10 gms on global cues

The price hike comes amid global economic signals, including the People's Bank of China's increased reserves and weak inflation data from China, sparking interest in gold as a safe-haven asset.

Gold price climbed Rs 300 for a third consecutive session to Rs 80,300 per 10 grams in the national capital on Thursday amid strong global cues, according to the All India Sarafa Association.
Traders said the precious metal surged, following news that People's Bank of China (PBoC) increased its reserves for the second consecutive month.
In the previous session, the yellow metal of 99.9 per cent purity ended at Rs 80,000 per 10 grams.
The price of gold of 99.5 per cent purity rose Rs 300 to Rs 79,900 per 10 grams on Thursday.
Silver rose by Rs 500 to Rs 93,000 per kg from the previous close of Rs 92,500 per kg on Wednesday.
Additionally, gold contracts for February delivery climbed Rs 247 or 0.32 per cent to Rs 77,994 per 10 grams in futures trade on the MCX.
In futures trade, silver for March delivery rallied Rs 593 or 0.65 per cent to Rs 91,531 per kg on the Multi Commodity Exchange (MCX).
Globally, Comex gold futures rose USD 10 per ounce or 0.37 per cent to USD 2,682.40 per ounce.
"Gold rose on Thursday amid risk-off sentiment in the equity market and weak macro data from China, drawing flow towards the traditional safe haven asset gold.
"China's consumer inflation fell to zero, decelerating for a fourth straight month, raising concerns about growth in the world's second-largest economy," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
The data has undermined the Chinese government's attempts to combat deflation and boost demand through stimulus measures, Gandhi added.
According to Kaynat Chainwala, AVP-Commodity Research, Kotak Securities, Comex gold edged up to USD 2,680 per ounce, maintaining a two-day advance as traders awaited the official US jobs report due on Friday for further clues on the Federal Reserve's monetary policy outlook.
Comex silver futures increased 0.83 per cent in the Asian market hours at USD 30.95 per ounce.
"The US Fed's Federal Open Market Committee's (FOMC) meeting minutes on Wednesday suggested a possible delay in the rate-easing cycle, however gold is trading strongly".
"Furthermore, investors are turning to precious metals for stability as a result of increased market volatility brought on by elevated geopolitical tensions," Renisha Chainani, Head of Research at Augmont, said.

The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,270 and 1 kg silver stood at ₹83,500

Gold, Silver Price Today May 02, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,250 while the cost for 24K gold prices stood at ₹72,270 and 1 kg silver stood at ₹83,500</h2>

Gold Silver Price Today May 02 2024: &nbsp;Both gold and silver prices declined on the Multi Commodity Index on Thursday.
The average price of 10 gram of 22K Gold stood at ₹66,250 while the 24K gold prices stood at ₹72,270.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹73,250, which was followed by Delhi and Jaipur where the gold costs ₹72,420.&nbsp;
The average price of 1 kg of silver stood at ₹83,500
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹87,000 followed by Delhi and Mumbai where the metal was sold at ₹83,500
<h3>24 Carat Gold Price Today 02 May (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,420 Chennai - ₹73,250 Mumbai - ₹72,270 Kolkata - ₹72,270 Bengaluru - ₹72,270
<h3>1 KG Silver Price Today 02 May - Indian Top Cities</h3>
Delhi - ₹83,500 Chennai - ₹87,000 Mumbai - ₹83,500 Kolkata - ₹83,500 Bengaluru - ₹82,250
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹65,550 while the cost for 24K gold prices stood at ₹71,510 and 1 kg silver stood at ₹83,500

Gold, Silver Price Today May 01, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹65,550 while the cost for 24K gold prices stood at ₹71,510 and 1 kg silver stood at ₹83,500</h2>

Gold Silver Price Today May 01 2024: &nbsp;Both gold and silver prices declined on the Multi Commodity Index on Wednesday.
The average price of 10 gram of 22K Gold stood at ₹65,550 while the 24K gold prices stood at ₹71,510.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹73,380, which was followed by Delhi and Jaipur where the gold costs ₹71,660.&nbsp;
The average price of 1 kg of silver stood at ₹83,500
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹86,500 followed by Delhi and Mumbai where the metal was sold at ₹83,000
<h3>24 Carat Gold Price Today 01 May (per 10gm) - Indian Top Cities</h3>
Delhi - ₹71,660 Chennai - ₹72,380 Mumbai - ₹71,510 Kolkata - ₹71,510 Bengaluru - ₹71,510
<h3>1 KG Silver Price Today 01 May - Indian Top Cities</h3>
Delhi - ₹83,000 Chennai - ₹86,500 Mumbai - ₹83,000 Kolkata - ₹83,000 Bengaluru - ₹83,400
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The average price of 10 grams of 22K Gold stood at ₹66,550 while the cost for 24K gold prices stood at ₹72,600 and 1 kg silver stood at ₹83,900

Gold, Silver Price Today April 30, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹66,550 while the cost for 24K gold prices stood at ₹72,600 and 1 kg silver stood at ₹83,900</h2>

Gold Silver Price Today April 30 2024: &nbsp;Both gold and silver prices declined on the Multi Commodity Index on Tuesday.
The average price of 10 gram of 22K Gold stood at ₹66,550 while the 24K gold prices stood at ₹72,600.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹73,530, which was followed by Delhi and Jaipur where the gold costs ₹72,750.&nbsp;
The average price of 1 kg of silver stood at ₹83,900
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹87,500 followed by Delhi and Mumbai where the metal was sold at ₹83,900
<h3>24 Carat Gold Price Today 30 April (per 10gm) - Indian Top Cities</h3>
Delhi - ₹72,750 Chennai - ₹73,530 Mumbai - ₹72,600 Kolkata - ₹72,600 Bengaluru - ₹72,600
<h3>1 KG Silver Price Today 30 April - Indian Top Cities</h3>
Delhi - ₹83,900 Chennai - ₹87,500 Mumbai - ₹83,900 Kolkata - ₹83,900 Bengaluru - ₹83,400
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

The demand for gold jewellery that makes up around three-quaters of total consumption has been affected due to the swift uptick in prices

Consumer demand for gold likely to fall: World Gold Council

<h2>The demand for gold jewellery that makes up around three-quaters of total consumption has been affected due to the swift uptick in prices</h2>

Consumer demand for gold is likely to be impacted due to the elevated prices, fewer weddings and election-related restrictions, said World Gold Council. As per WGC India Research Head Kavita Chacko, the price stability ahead of Akshaya Tritiya may provide some respite.&nbsp;
<h3>Demand for Gold</h3>
However she also mentioned that gold's continued strong performance this year could encourage investment demand. As per The Economic Times, it took nearly a year for domestic prices to rise from Rs 50,000 per 10gm to Rs 60,000 per 10 gm. However, the rise from Rs 60,000 per 10 gm to Rs 70,000 per 10gm took little more than five months.
The WGC India reseach analyst further mentioned that the gold consumption demand, particularly demand for jewellery has been affected due to the swift price tick. Jewellery gold makes up around three-quaters of total consumption. Consumers are also awaiting stabilization in prices for fresh purchases and to benefit from the windfall gains, some have been resorting to exchanging/selling old jewellery.
Election related restrictions and fewer weddings this year during April-May have impacted the demand. Meanwhile, demand for investment gold options like coins, bars has seen an increase. The WGC attributes this uptick to anticipation of further price rise.
While some jewellers and manufacturers have been booking profits by liquidating stock and diverting gains to other investment avenues, many are facing a liquidity crunch which limits their ability to add to their inventories.
Domestic gold prices continue to trade at a discounted rate to the international prices despite a sharp drop in gold imports in March. Another factor influencing the price is the increased supply of recycled gold.
Gold prices have rallied since mid-February to reach unprecedented levels. Prices rose by 3.1% in April following an 8% surge in March.
Also watch: <a href="https://www.editorji.com/business-news/gold-jewellery-demand-dampens-by-price-surge-1712931850450">Gold jewellery demand dampens by price surge</a>
&nbsp;

Gold prices surge ahead of Diwali 2023: Festive seasons drive gold demand due to cultural practices. Experts predict prices to hit Rs 62.500 per 10 grams while silver may touch Rs 75000 this Diwali.

Gold price expected to surge in Diwali 2023: Report indicates price to hit ₹63,000

Traditionally, festive seasons drive gold demand due to cultural practices. Yet, recent patterns indicate a shift, with individuals investing strategically outside traditional periods, reflecting changing market dynamics and investor behavior.

Gold price expected to surge: Report indicates price to hit ₹63,000

<h2>Traditionally, festive seasons drive gold demand due to cultural practices. Yet, recent patterns indicate a shift, with individuals investing strategically outside traditional periods, reflecting changing market dynamics and investor behaviour.</h2>

Gold prices may continue to soar ahead of Diwali. A report by Motilal Oswal says that prices could touch ₹63,000. During previous years, gold demand has witnessed a surge during festive seasons, a phenomenon deeply rooted in cultural traditions and gifting practices.
Motilal Oswal's report talks about recent market dynamics that indicate a noteworthy shift in investment behaviour, with individuals seizing opportune moments to invest, irrespective of seasonal demands.&nbsp;
This deviation from the norm can be attributed to various global factors that have significantly influenced the gold market. Geopolitical tensions and the policies of central banks have emerged as key players in shaping the fluctuating landscape of gold and silver prices, adds the report.&nbsp;
These moves have not only reflected the growing global interest in gold but have also played a pivotal role in shaping market sentiment. This year alone, these central banks have contributed to a net addition of approximately 800 tonnes, underscoring the significance of their influence, said the report.&nbsp;
Also Watch: <a href="https://www.editorji.com/business-news/gold-silver-rates-today-november-07-2023-check-prices-in-mumbai-delhi-chennai-kolkata-1699333335072">Gold, Silver Rates today November 07, 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata</a>

The average price of 1 gram of 22K Gold stood at ₹5,510 while the cost for 24K gold prices stood at ₹6,011 and 1 kg silver stood at ₹77,300

Gold, Silver Rates Today 2 August 2023: Check Prices in Mumbai, Delhi, Chennai, Kolkata

The average price of 1 gram of 22K Gold stood at ₹5,510 while the cost for 24K gold prices stood at ₹6,011 and 1 kg silver stood at ₹77,300

Both gold and silver prices rose during Wednesday's early trade in the Multi Commodity Exchange.
The average price of 1 gram of 22K Gold stood at ₹5,510 while the 24K gold prices stood at ₹6,011.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹60,550, which was followed by Delhi and Lucknow where the gold costs ₹60,260.&nbsp;
The average price of 10gm of Silver was at ₹773 and 1 kg of silver stood at ₹77,300.
However, in Chennai, Hyderabad and Kerala the metal was sold at ₹80,300, followed by Mumbai, Delhi, Kolkata where silver costs ₹77,300.
Indian Major Cities 24 Carat Gold Rate per 10gm Today August 2
Delhi - ₹60,260 Chennai - ₹60,550 Mumbai - ₹60,110 Kolkata - ₹60,110 Bengaluru - ₹60,110
Indian Major Cities 1 KG Silver Rate Today August 2
Delhi - ₹77,300 Chennai - ₹80,300 Mumbai - ₹77,300 Kolkata - ₹78,000 Bengaluru - ₹76,500

The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes

Gold, silver prices today May 18, 2023: here's the price list in Mumbai, Delhi, Chennai 

The price of gold varies for different regions in the country based on certain parameters such as the excise duty, making charges and the state taxes.&nbsp;

A day after seeing a slight rise in prices, Gold and silver prices fell on the Multi Commodity Exchange.
In Mumbai, Kolkata and Hyderabad 10 grams of 22-carat gold is at Rs 56,300 and 24-carat gold at Rs 61,420. In Delhi, Bengaluru, and Chennai, 10 grams of 22-carat gold is at Rs 56,450, Rs 56,350, and Rs 56,700, respectively.
On the another hand, the price of 1 kg of silver is Rs 74,600 in Mumbai, Delhi, and Kolkata.&nbsp;
In Chennai, Bengaluru and Hyderabad, the price of 1 kg of silver is Rs 78,200.
Gold futures, maturing on June 5, 2023, stood at Rs 60,153 per 10 grams, after recording a marginal dip of Rs 35 or 0.06 per cent.
Similarly, silver futures, due on July 5, 2023, witnessed a downfall of Rs 150 or 0.21 percent and were retailing at Rs 72,557 per kg on the MCX against the previous close of Rs 72,658.&nbsp;

The gold and silver prices have come down today after retailing on the lower side yesterday. The average price of 8 grams of 22K gold stood at ₹ 45,040 while one kilogram of silver was priced at ₹ 74,600

Gold, silver rates on May 17: Prices see a marginal fall 

The gold and silver prices have come down today after retailing on the lower side yesterday. The average price of 8 grams of 22K gold stood at ₹ 45,040 while one kilogram of silver was priced at ₹ 74,600

The average gold rates in India slumped on Wednesday with one gram of 22K gold priced at ₹ 5,630 which is ₹ 45 lower as compared to yesterday. Similarly the average price of 24K gold also came down by ₹ 49 to ₹ 6,142.&nbsp;
Gold prices continue to be the highest in Chennai with 10 grams of 22K gold costing ₹ 56,700 and 24K gold priced at ₹ 61,850. In New Delhi it is ₹ 56,450 for 10 gms of 22K gold while In Mumbai and Kolkata the price is ₹ 56,300.&nbsp;
Similarly, the rate of Silver has also come down. One Kilogram of Silver is ₹ 500 less than yesterday's price. One kilogram of silver costs ₹ 74,600 today. Silver rates in Chennai, Bengaluru and Hyderabad remain the highest with one kilogram of the metal costing ₹ 78,200.
The average prices of Gold and Silver stood at ₹ 60,244 per 10 grams and silver at ₹ 72,585 per kg respectively when the markets closed on 16th May.&nbsp;
&nbsp;

Ahead of Akshaya Tritiya, jewellers anticipate a 20% drop in demand of gold due to high prices. Gold prices have been on the rise due to concerns over inflation and a weaker US dollar

Gold set to lose sheen on Akshaya Tritiya with jewellers anticipating 20% dip in demand

Ahead of Akshaya Tritiya, jewellers anticipate a 20% drop in demand of gold due to high prices. Gold prices have been on the rise due to concerns over inflation and a weaker US dollar

On Thursday, gold prices jumped ₹440, reaching ₹60,340 per 10 grams in the national capital, while silver climbed ₹850 to reach ₹75,450 per kilogram. The surge in prices was attributed to strong global cues.&nbsp; Gold is expected to lose its shine this Akshaya Tritiya, with jewellers anticipating a 20% dip in demand due to high prices.&nbsp;
Akshaya Tritiya is considered an auspicious day to buy gold in India, with many people flocking to jewellery shops to make purchases.&nbsp;
Gold prices have been on an upward trend recently, buoyed by concerns over inflation and the weakening of the US dollar. This has made gold an attractive investment option, but has also pushed prices up.&nbsp;
Despite the high prices, some buyers may still choose to purchase gold on Akshaya Tritiya. However, many jewellers are bracing themselves for a dip in demand, and may offer discounts and promotions to entice buyers.
Meanwhile, in the overseas markets, both gold and silver were traded higher at USD 1,996 per ounce and USD 25.16 per ounce, respectively.

Know which Indian state has introduced uniform gold price based on bank rate

Kerala becomes the First State to Introduce Uniform Gold Price Based on Bank Rate

Uniform gold price based on bank rate offers an opportunity to the consumers to purchase gold at a reasonable and transparent price.

Kerala becomes the first state in India to launch uniform gold price based on the bank rate. The decision to introduce uniform price on 916 purity 22 carat gold has been taken at a meeting between officials of Malabar Gold and Diamonds, one of the largest gold and diamond retail chains in the country and key members of All Kerala Gold and Silver Merchants Association which sets the board rate for gold.
Commenting on the development, Mr. MP Ahammed, Chairman, Malabar Group said, "We are extremely happy to be a part of this momentous occasion. We would like to thank all members of the jewellery trade in Kerala for coming together and launching a standardized gold rate across the state to safeguard the interest of the consumers and bring in price transparency to the trade. At Malabar Gold and Diamonds, we have shown the way by launching uniform gold price across all our stores in the country with our 'One India One Gold Rate' policy. Being a top gold consuming state in the country, Kerala can set the stage for a countrywide roll-out of uniform gold price." MP Ahammed also demanded that the selling price of gold should be unified everywhere in the country.
Also watch: <a title="Kerala IAS officer delivers speech with child in arms, triggers professionalism debate" href="https://www.editorji.com/india-news/kerala-ias-officer-delivers-speech-with-child-in-arms-triggers-professionalism-debate-1667577940742">Kerala IAS officer delivers speech with child in arms, triggers professionalism debate</a>
The gold rate should be uniform across the country based on bank rate. However, in most states, gold is priced Rs.150-300 per gram extra over the bank rate. In Kerala, gold used to be sold at different prices on a particular day. Uniform gold price based on bank rate offers an opportunity to the consumers to purchase gold at a reasonable and transparent price.
According to Mr.Ahammed, there should be a system to determine the price of gold based on the bank rate on a specific day in the country. Bank rate on gold, GST and other taxes including import duty are the same across India. For example, on November 4, 2022, the bank spot rate of 916 (22 carat) gold was Rs. 1,640 per ounce, the bank premium was Rs. 3.50, the import duty was Rs. 6,67,467 per kg and the bank cost per gram of gold was Rs. 5,008. Adding all these, the bank rate of November 4, 2022 amounts to Rs. 4610 per gram of 916 gold. Thanks to the price standardization, jewellers in Kerala now charge the same price as the bank rate for gold.

Gold prices are down 5% so far this week, silver over 6% as the precious metals see the&nbsp;worst week in 9 months after hawkish comments from the Fed sent the dollar on a rally.&nbsp;The dollar jumped to a 2-month high as the Federal Reserve indicated earlier than anticipated rate hike. Prices in India were firmly below the Rs 47,000/10 gm mark which analysts believe will spark buying in the world's largest gold jewellery market.&nbsp;The price drop in the yellow metal may be temporary as per brokerage house Goldman Sachs who stated "In a now familiar pattern, the recent gold move has outpaced both the move in the dollar and in real rates, indicating it is due for an upward price reversal in coming weeks."

Gold prices slide 5%, Goldman says reversal is due so is it time to buy again?

Gold prices slide 5%, is the shine finally coming off or is it a good time to buy?

<ul>
<li>Gold prices slide after Fed's hawkish commentary on rates</li>
<li>Gold prices down 5% for th week, worst in 9 months</li>
<li>Dollar jumps on earlier rate hike talk, rises to 2-month high</li>
<li>Gold prices in India continue to trend below Rs 47,000/10gm mark</li>
<li>Goldman Sachs: Gold is&nbsp;due for an upward price reversal</li>
</ul>

Gold prices are down 5% so far this week, silver over 6% as the precious metals see the&nbsp;worst week in 9 months after hawkish comments from the Fed sent the dollar on a rally.&nbsp; The dollar jumped to a 2-month high as the Federal Reserve indicated earlier than anticipated rate hike. Prices in India were firmly below the Rs 47,000/10 gm mark which analysts believe will spark buying in the world's largest gold jewellery market.&nbsp; The price drop in the yellow metal may be temporary as per brokerage house Goldman Sachs who stated "In a now familiar pattern, the recent gold move has outpaced both the move in the dollar and in real rates, indicating it is due for an upward price reversal in coming weeks."

Global gold prices surged to the highest level in over 3 months topping $1800/oz and analysts are betting that this is the start of the uptrend for the yellow metal. Technical analysts state that there is a big bullish uptrend as gold broke above it's 200 day moving average in overnight trade.&nbsp;Weakening US economic data, turmoil in cryptocurrency assets and a weaker dollar have all boosted demand for the yellow metal that has been on the investment sideline from the start of 2021.&nbsp;Precious metal prices in India as well have started to firm up with gold topping Rs 48,000/10 gm and silver near Rs 72,000/kg mark.

Gold glitters again, jumps to 3 month high as technicals signal more upside

Gold glitters again, jumps to 3 month high as technicals signal more upside.

Gold sees technical breakout

<ul>
<li>Global gold prices see biggest single day gain in a week</li>
<li>Gold prices touch 3-month high in global markets&nbsp;</li>
<li>Technical uptrend, gold breaks out moves above 200 DMA</li>
<li>Weaker dollar, volatile crypto&nbsp;assets boost demand for gold</li>
<li>Indian gold prices top Rs 48,000, silves&nbsp;shines at Rs 72,000</li>
</ul>

Global gold prices surged to the highest level in over 3 months topping $1800/oz and analysts are betting that this is the start of the uptrend for the yellow metal. Technical analysts state that there is a big bullish uptrend as gold broke above it's 200 day moving average in overnight trade.&nbsp; Weakening US economic data, turmoil in cryptocurrency assets and a weaker dollar have all boosted demand for the yellow metal that has been on the investment sideline from the start of 2021.&nbsp; Precious metal prices in India as well have started to firm up with gold topping Rs 48,000/10 gm and silver near Rs 72,000/kg mark.

Gold prices continue losing sheen as the bear grip on the yellow metal gets tighter. Having fallen to&nbsp;43,000-per-10-gram level from&nbsp;a&nbsp; high&nbsp;of Rs 56,000 in August last&nbsp;year ,&nbsp;prices are matching the t rends&nbsp;global gold trade as well as a strengthening dollar.&nbsp;&nbsp;&nbsp;Trading near a 10-month low the metal has&nbsp;fallen&nbsp;for 8 out if the last 10 trading sessions.&nbsp;The global gold ETFs have now marked outflows for the third time in four months, and the seventh worst historical monthly holdings loss.&nbsp;&nbsp;Gold holdings in SPDR Gold Trust, the world&rsquo;s largest gold-backed exchange-traded fund, have seen an outflow of 200.5&nbsp;tonnes&nbsp;or 15.6%.&nbsp;

Gold prices fall below 45,000 mark, at 10 month low

Gold prices continue losing sheen as the bear grip on the yellow metal gets tighter. Having fallen to&nbsp;43,000-per-10-gram level from&nbsp;a&nbsp; high&nbsp;of Rs 56,000 in August last&nbsp;year ,&nbsp;prices are matching the t rends&nbsp;global gold trade as well as a strengthening dollar.&nbsp;&nbsp; &nbsp; Trading near a 10-month low the metal has&nbsp;fallen&nbsp;for 8 out if the last 10 trading sessions.&nbsp;The global gold ETFs have now marked outflows for the third time in four months, and the seventh worst historical monthly holdings loss.&nbsp; &nbsp; Gold holdings in SPDR Gold Trust, the world&rsquo;s largest gold-backed exchange-traded fund, have seen an outflow of 200.5&nbsp;tonnes&nbsp;or 15.6%.&nbsp;

Gold in bear grip, down over Rs 10,000 from record high 

Gold prices continue losing sheen as the bear grip on the yellow metal gets tighter. Having fallen to&nbsp;43,000-per-10-gram level from&nbsp;a&nbsp; high&nbsp;of Rs 56,000 in August last&nbsp;year ,&nbsp;prices are matching the t rends&nbsp;global gold trade as well as a strengthening dollar.&nbsp;&nbsp; &nbsp; Trading near a 10-month low the metal has&nbsp;fallen&nbsp;for 8 out if the last 10 trading sessions.&nbsp;The global gold ETFs have now marked outflows for the third time in four months, and the seventh worst historical monthly holdings loss.&nbsp; &nbsp; Gold holdings in SPDR Gold Trust, the world&rsquo;s largest gold-backed exchange-traded fund, have seen an outflow of 200.5&nbsp;tonnes&nbsp;or 15.6%.&nbsp;

Gold prices continue losing sheen as the bear grip on the yellow metal gets tighter. Having fallen to&nbsp;43,000-per-10-gram level from&nbsp;a high&nbsp;of Rs 56,000 in August last&nbsp;year,&nbsp;prices are matching the trends of global gold trade as well as a strengthening dollar.&nbsp;&nbsp; &nbsp; Trading near a 10-month low the metal has&nbsp;fallen&nbsp;for 8 out of the last 10 trading sessions.&nbsp;The global gold ETFs have now marked outflows for the third time in four months, and the seventh worst historical monthly holdings loss.&nbsp; &nbsp; Gold holdings in SPDR Gold Trust, the world&rsquo;s largest gold-backed exchange-traded fund, have seen an outflow of 200.5&nbsp;tonnes&nbsp;or 15.6%.&nbsp;

Gold demand in India dropped by 30% year-on-year during the September quarter to 86.6 tonnes due to Covid-19 related disruptions and ruling high prices, World G

Gold demand in India drops 30% in Sept quarter: report

Gold demand in India dropped by 30% in the September quarter due to Covid-19 related disruptions and ruling high prices

Gold demand sees 30% y-o-y drop in Sept quarter
Covid-19 related disruptions &amp; high prices affected demand
Demand in Q2 was 70% lower y-o-y
Jewellery&nbsp;demand dipped, investment demand surged
&nbsp;

Gold demand in India dropped by 30% year-on-year&nbsp;to 86.6 tonnes in the September quarter due to Covid-19 related disruptions and ruling high prices, World Gold Council said in a report.
This is, however, higher than Q2, when demand was 70% lower at 64 tonnes.
Meanwhile, the total jewellery demand in India decreased by 48% but total investment demand during the quarter surged by 52%.
&nbsp;

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