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to 70 tons of gold may have been imported in October alone, up from 20 tons in May. Silver sales are up 50 percent over last month.
State-run trading firm MMTC has tied up with seven banks, including ICICI and HDFC Bank, to sell government minted 'Indian Gold Coin' in order to cash in on the Dhanteras buying rush.The coins
Manisha Gupta of CNBC-TV18 gives us a roundup of the commodities market specifically Steel.
According to Achiievers Equities,Gold prices inched down as the U.S. dollar steadied, but underlying demand for bullion was seen as robust ahead of major festivals in India.
With the festive season around the corner, Gold is once again expected to be in news as it is a popular gift traditionally exchanged during festivals such as Dhanteras and Diwali.
Bullion is expected to gain over the next few days on account of festival buying in India, the world's second-largest consumer of gold. The metal is traditionally given as a gift during festivals
Watch the interview of Ashish Shah of Sushil Finance with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
Watch Manisha Gupta of CNBC-TV18 speaking about the current trend and updates from the commodity space.
Spot gold was down nearly 0.1 percent at USD1,265.51 an ounce at 0053 GMT. It fell 0.6 percent on Wednesday.
Apple's results weighed on US stock prices on Wednesday after the technology giant posted its first annual revenue decline since 2001, while oil and gold prices slipped.Apple, the world's largest
Pre rate hike jitters and any forward looking statements by the Federal Reserve will hold the key for direction for gold going into 2017.
According to Achiievers Equities,Gold gained as the U.S. dollar retreated from multi-month highs and physical demand rose before India's late-October festival season.
Demand for bullion is expected to pick up ahead of festivals such as Dhanteras and Diwali, which is also a time when gold is traditionally given as a gift.
At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 47 or 0.16 percent to Rs 29,989 per 10 gram in a business turnover of 606 lots.
Spot gold was up about 0.1 percent at USD 1274.76 an ounce at 0054 GMT. It hit its strongest since October 5 on Tuesday at USD 1,276.67.
Snapping its two-day falling streak, gold prices recovered by Rs 95 per 10 grams at the bullion market on Tuesday, tracking a firm trend overseas amid renewed buying by jewellers.
Precious metals such as gold, silver, platinum and diamonds witnessing interest from consumers during Diwali. Here's what Commodities Editor Manisha Gupta has to say about commodities investments
Gold Coin Health Foods Ltd has informed BSE that the Board Meeting scheduled on November 11, 2016, for considering the Quarterly Financial Results (Unaudited Results) for the Quarter and Half Yearly
At the Multi Commodity Exchange, gold for delivery in December was trading higher by Rs 29, or 0.10 percent, to Rs 29,792 per 10 gram, in a business turnover of 229 lots.
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