Quick view: Gold gains on buying, global cues

Jan 28 2014, 01:09 IST
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SummaryGold rose for the third straight session by adding Rs 70 to Rs 30,570 per ten gram on increased buying by stockists to meet...

Gold rose for the third straight session by adding Rs 70 to Rs 30,570 per ten gram on increased buying by stockists to meet the ongoing marriage season demand amid a firming global trend. Silver also moved up by Rs 75 to Rs 45,075 per kg on increased offtake by industrial units. In Mumbai, gold of 99.9 and 99.5% purity traded at Rs 30,300 and Rs 30,150 per ten gram, respectively, while silver enquired at Rs 45,800 per kg. Traders said increased buying by stockists to meet the ongoing marriage season demand amid a firming global trend mainly helped gold prices to gain for the third day.

December gems and jewellery imports dip 11%

India's imports of gems and jewellery fell over 11% to Rs

15,735 crore in December after a sharp drop in shipments of gold bars and jewellery due to government curbs, the industry body said. The country had imported gems and jewellery worth Rs 17,692 crore in the same month in 2012, it said. "There has been a significant decline in import of gold bars and jewellery because of restrictions. However, import of diamonds is on the rise," Gems and Jewellery Export Promotion Council chairman Vipul Shah said. Import of gold bars fell 45% to Rs 2,111.58 crore last month from Rs 3,816 crore a year earlier.

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