April, 30 2024 Tuesday 02:00 Hrs
  • SENSEX :   74,671.28

  • Commodity broking firm in India941.12( 1.28%) 29-Apr-2024

Pre Session Commentary - Detailed News

Precious Metals Preview: Gold Sees Volatile Moves, Indian Demand Moderating
16-Apr-24   08:15 Hrs IST
Gold tracked a moderation in Indian bullion demand trends following the massive spurt in prices over last few weeks. Local retail sport Gold prices have hit Rs 73000 per 10 grams in major trading centres compared to around Rs 63000 per 10 grams at the start of the year 2024. This is being reflected in the import figures too. COMEX Gold has eased from a high near $2450 per ounce and undertone is volatile as markets track physical demand and also eyed global geopolitical headlines. India's Gold imports stood at Rs 12722.03 crore in value terms in March 2024, down 53% compared to March 2023. Gold imports in FY24 rose by 34.50% compared to FY23. Silver imports came in at Rs 6777 crore in March 2024, up by 1068% compared to March 2023. Silver imports in FY24 rose by 6.93% compared to FY23. Gold imports tanked on a monthly basis, falling by 280% compared to January 2024 while Silver imports plunged by 88.55% on month.

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