Retail demand may improve further as more states relax Covid restrictions, allowing consumers wider access to gold purchasing channels, says Kumar
There is a third option where only the customer pays only the interest at the end of the year and renews the loan for another year
Jewellers can also continue to buy back old gold jewellery from customers even if they don’t have a hallmark, the government stated
Gold and silver prices: Gold prices traded marginally down with spot gold prices at COMEX trading at USD 1,778 per ounce
In New Delhi, price of 24-carat gold fell by Rs 1,500 to Rs 50,300 from Rs 51,800 per 10 gm while in Kolkata. it decreased by Rs 1,300 to Rs 47,800
Typically one should have around 5-10 percent of total investments in gold. It is better not to overexpose oneself to gold
"Prices are also correcting in physical market as there is no demand. We are advising people to wait for lower levels to buy," said Anuj Gupta, IIFL
Gold prices may remain under pressure but higher inflation will protect the downside, say experts
The central bank also observed that currency holding among the public declined during the second wave
Only 30% of gold jewellery made in the country is hallmarked. The government has urged all jewellers to register with the Bureau of Indian Standards.
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