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Jewellers getting more inquiries for gold after RBI withdraws Rs 2,000 notes; no panic buying

Jewellers in India, the world s second largest gold consuming country after China, have started receiving more inquiries for purchase of gold or silver immediately after the Reserve Bank s announcement to withdraw Rs 2,000 notes from circulation. However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday. In fact in the last two days, the actual gold purchase has been less in exchange of Rs 2,000 notes due to strict Know your Customer (KYC) norms although sources said some jewellers have started charging a 5-10 per cent premium, taking the gold prices to Rs 66,000 per 10 grams level.

As Fed hints at softening, markets rise 1%, gold rallies to record high

Amid global headwinds, gold gives 16 1% returns

Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.

Gold Price Today: Yellow metal trades higher on subdued dollar ahead of US data

Gold Price Today: Yellow metal trades higher on subdued dollar ahead of US data © Reuters Gold Price Today: Yellow metal trades higher on subdued dollar ahead of US data Gold was trading above Rs 47,000 in the Indian market on May 3 supported by a muted dollar ahead of a string of US data. Silver, too, was up Rs 481 or 0.70 percent, at Rs 68,847 a kg. On MCX, June gold futures were up by Rs 317, or 0.68 percent, at Rs 47,054 per 10 grams at 10:20 hours. The yellow metal price hit an intraday high of Rs 47,067 after opening at Rs 46,921. Gold was trading at $1,774 a troy ounce in the international market, rising $6.30 or 0.36 percent.

Four reasons why gold has dropped to an 8-month low - The Hindu BusinessLine

Four reasons why gold has dropped to an 8-month low - The Hindu BusinessLine
thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.

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