Delhi bullion market News

Gold prices slipped by Rs 40 to Rs 28,700 per 10 grams at Delhi bullion market Monday on weak demand from jewellers even as the metal strengthened in the global market.

With bullion market reopening after 16 days Monday, gold prices witnessed a massive plunge of Rs 1,750 to Rs 29,400 per 10 grams in the national capital, while silver slumped by Rs 3,100 to Rs 41,600 per kg.  

Gold and jewellery establishments in the national capital remained shut for the 8th day Friday after Income Tax Department on November 10 carried out surveys following reports of alleged profiteering and tax evasion by traders as government demonetised high value currency note.

The government has made Permanent Account Number (PAN) card mandatory from January 1, for all transactions of Rs 2 lakh and above.  

Gold prices rebounded by Rs 120 to Rs 25,510 per ten grams on the first trading day of 2016 at the bullion market Friday on revival of buying by jewellers and retailers.

Gold prices tumbled by Rs 400 to hit one-week low of Rs 26,750 per 10 grams at the bullion market Thursday amid a weak global trend and low demand from jewellers and retailers.

Extending gains for the second day, gold prices moved up by another Rs 70 to Rs 28,300 per ten gram in the national capital Friday on increased buying by jewellers and retailers, driven by festive season demand coupled with firming global trend.

Gold prices inched up by Rs 5 to Rs 28,250 per ten gram in the national capital Friday on scattered buying by retailers amid recovery in global prices.

Gold prices witnessed a modest rebound of Rs 45 to Rs 28,245 after declining for two days at the bullion market here Thursday following renewed buying from jewellery stockists and retail consumers to meet festive season demand.

Continuing its rising streak for the fourth consecutive day, gold prices gained another Rs 50 to trade at Rs 28,730 per ten gram in the national capital Saturday.

Continuing its falling streak for yet another week, gold prices fell by another Rs 180 per 10 grams at the bullion market largely due to fall in demand at prevailing levels.

Gold prices drifted by Rs 230 to Rs 28,500 per 10 grams in the national capital Wednesday on a weak trend in global markets amid strengthening of rupee against the US dollar.