Headlines
Gold prices drop on global cues
New Delhi, July 30 Gold prices fell globally to near a five-and-a-half year low on Thursday as the dollar strengthened ahead of US economic data, but in India, the price varied between five and five-and-a-half year low.
Internationally, gold prices fell more than 1 percent close to their weakest level since early 2010.
In India, gold prices dropped by Rs.200 to Rs.25,090 per 10 gram.
"In India, the price is hovering between five and five-and-a-half year low. Theoritically with such lower prices, there should be great surge in demand. But there are media reports that it will further go down and people are withhelding their purchases expecting it to fall further," Pankaj Parekh, former vice-chairman, Gems and Jewellery Export Promotion Council (GJEPC) told IANS.
"Even if the price does not go down further and stabilises, we will see surge in demand," he added.
Silver price also dropped by Rs.150 to Rs.34,050 per kilogram.
2 hours ago
UN chief condemns terrorist attack in Mali
2 hours ago
Israel-Hezbollah conflict escalates, stoking fears of regional war
2 hours ago
Preparations underway to welcome PM Modi to diaspora event in New York
2 hours ago
US pro-Palestinian group refuses to endorse Harris over Israel-Hamas war concerns
2 hours ago
Israel asks residents to stay near shelters to avoid possible Hezbollah 'retaliation'
2 hours ago
S. Korea, US to hold talks to discuss deterrence against N. Korea threats
2 hours ago
Quad still focussed on maritime security, says US
2 hours ago
133 hospitalised after food poisoning in Myanmar
2 hours ago
PM Modi to participate in 'National PM Vishwakarma Programme' in Wardha today
2 hours ago
SC to hear today SpiceJet's plea against grounding of engines
2 hours ago
Tension prevails in K'taka’s Davanagere after stones pelted during Ganpati procession
2 hours ago
India needs to create content tracking system for GenAI: Report
2 hours ago
Scientists develop 5D ‘everlasting’ memory crystal, Musk urges to write human knowledge