The World Gold Council on Wednesday said the global gold demand swelled about 5% in the third quarter, setting a record for the period and lifting consumption above USD 100 billion for the first time.
Gold held domestically surged more than 102 tonnes between April and September this year to 510.46 metric tonnes, against 408 metric tonnes at the end of March.
Dhanteras is considered the ideal day to make large monetary acquisitions and people purchase gold or silver as a ritual. Find out why.
The customs on Wednesday detained two passengers travelling on Turkmenistan Airlines from Turkmenistan to Delhi for carrying gold weighing 538 gm and other undocumented items.
Meanwhile, the BSF foiled a gold smuggling attempt and arrested a farmer with 1.2 kg of gold worth Rs 86,00,471 at the India-Bangladesh border.
The raid was carried out on Saturday. The city police said that the businessman, Sailesh Pande's two bank deposits of Rs 20 crore have been frozen.
Hashika Ramachandra anchored the Karnataka 4x200m Freestyle Relay team to victory to climb the podium at the Sardar Patel Aquatics Complex here for the fourth time in the 36th National Games.
The recovered gold and cigarettes of foreign brands has been seized under section 110 of Customs Act and further investigation is being carried on.
Weak global trend led to fall in gold and silver prices hitting two months low. The 22 carat gold price per 10 gram today in Delhi, Kolkata and Mumbai stood at Rs 47,000 while in Chennai it went down to Rs 47,540.
Prices of the yellow metal in international markets have declined by around USD 100 per ounce to USD 1,700 so far in July, data showed. In India, the prices declined by around Rs 1,800-2,000 towards Rs 50,000 per 10 gm during the same period.
