Bullion traders News

The Uttar Pradesh government on Wednesday suspended three policemen, including a station house officer, for laxity in the twin murder case of bullion traders in Mathura, an official said.

Gold regained its glitter by surging Rs 225 to Rs 29,725 per 10 grams at the bullion market today, tracking a firm trend overseas amid pick-up in buying by local jewellers to meet wedding season demand.

Halting its four-day winning run, gold drifted lower by Rs 100 to Rs 29,350 per 10 gram at the bullion market here today due to weak retail demand.

Gold prices recovered by Rs 30 to Rs 28,740 per 10 grams on scattered buying by local jewellers even as the metal weakened overseas.

The Income Tax department on Friday said it has detected undisclosed income of Rs 47.74 crore after surveys were conducted at half-a-dozen bullion traders and jewellers in the city following surge in their sales post demonetisation.

The ED has conducted searches against four bullion traders in Mumbai and has detected Rs 69 crore worth transactions in cash done by them allegedly using fake companies.  

Gold prices recovered from a 10-month low by rising Rs 100 to Rs 28,550 per 10 grams, taking its strength from scattered buying by local jewellers even as the metal weakened overseas.

Gold and jewellery establishments in the national capital remained closed for the 5th day today after the Income Tax Department conducted surveys following reports of alleged profiteering and tax evasion by traders and other operators in reported conversion of demonetised notes.

India's gold demand declined by 28 percent to 194.8 tonnes in the third quarter this year mainly due to higher prices, not so recovered rural wallet and regulatory changes, World Gold Council's said in its latest report.

Gold prices rose for the fifth session in a row, by gaining Rs 100 to Rs 31,150 per ten gram today, supported by a firm global trend and wedding season demand from jewellers.

Gold made some decent recovery by rising Rs 50 to 30,700 per 10 grams at the bullion market in the national capital today, aided by increased buying by jewellers to meet wedding season demand coupled with a firm global trend.

Gold price increased by Rs 160 to Rs 30,750 per 10 grams on the eve of Diwali at the bullion market today on increased buying by jewellers to meet festive demand along with a firm global trend.

Gold remained weak for a second day as the prices fell by Rs 150 to Rs 31,150 per ten grams at the bullion market today, on a weak trend overseas and easing demand from jewellers at the domestic spot market.

 Gold recovered by Rs 100 to Rs 31,250 per 10 grams today on fresh buying by jewellers at the domestic spot market to meet retailers' demand even as the metal weakened overseas.

Gold regained its glitter with prices rising by Rs 150 to Rs 30,800 per 10 grams at the bullion market today on pick-up in buying activity by jewellers at domestic spot market even as the metal weakened overseas.

 Gold prices fell from 26-month high by plunging Rs 485 to Rs 30,400 per 10 grams at the bullion market today on considerable fall in demand from jewellers at prevailing higher levels amid profit-selling by stockists, even as the metal strengthened overseas.

 Gold bounced back by Rs 150 to trade at Rs 29,800 per 10 grams today, tracking a firm trend overseas along with fresh buying by jewellers at the domestic spot market.

Positive global cues triggered gold prices to sharply move up by Rs 505 in the bullion market where the precious metal closed at 29,225 per 10 gm on Saturday.

 Gold prices drifted lower by Rs 25 to Rs 30,025 per 10 grammes at the bullion market today as demand eased from jewellers and retailers at prevailing levels even as the metal strengthened overseas.