๐๐ผ๐น๐ฑ ๐ฃ๐ฟ๐ถ๐ฐ๐ฒ๐ ๐ฅ๐ถ๐๐ฒ ๐ถ๐ป ๐๐ป๐ฑ๐ถ๐ฎ ๐ฎ๐ ๐๐น๐ผ๐ฏ๐ฎ๐น ๐ฅ๐ฎ๐๐ฒ๐ ๐๐ฟ๐ผ๐ฝ
Gold of 99.9% purity rose by Rs 1,050 to Rs 1,61,450 per 10 grams in Delhi including taxes. The metal closed at Rs 1,60,400 per 10 grams in the previous session. Silver gained Rs 1,300 to Rs 2,71,000 per kilogram from Rs 2,69,700 per kilogram.
Global spot gold slipped 0.2% to $4,476.50 per ounce. US gold futures for August delivery fell 0.3% to $4,504.40 per ounce. Spot silver dropped 0.5% to $74.73 per ounce. Platinum eased 0.2% to $1,932.25 per ounce. Palladium declined 0.3% to $1,365.25 per ounce.
Crude oil prices rose more than 1%. The US military stopped Iranian missile attacks on Bahrain and Kuwait. Some attacks failed to reach their targets.
Swiss gold exports fell 20% in April. Shipments to Britain and China dropped. Exports to India and Hong Kong increased.
India tightened silver import rules.
- Grain and powder forms now need prior authorization
- All shipments must pass through RBI-designated agencies, DGFT-approved entities, or eligible jewellers authorized by the IFSCA through the IIBX
- Imports need a valid DGFT license
Import duties on gold and silver rose to 15% last month. Silver imports surged 157% in April to $411 million.
Industry groups report a rise in gold smuggling. Travelers from Gulf countries carry undeclared gold through airport green channels. Undeclared gold sells at a discount of roughly Rs 8-10 lakh per kilogram against domestic prices. The World Gold Council reported similar trends in 2013. Unofficial inflows surged nearly sevenfold after a duty hike then.