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In Thursday's futures trade, gold prices rose by Rs 184, reaching Rs 59,645 per 10 grams. The surge was driven by speculators establishing new positions due to strong spot demand.
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Households in districts with greater banking access and better health infrastructure showed a smaller shift towards gold, it said.
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On the Multi Commodity Exchange, gold contracts for August delivery traded higher by Rs 115 or 0.19 per cent at Rs 59,905 per 10 grams in a business turnover of 8,029 lots.
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Gold contracts for August delivery on the Multi Commodity Exchange witnessed an increase, trading higher by Rs 68 or 0.11%.
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Fresh positions built up by participants led to the rise in gold prices, analysts said. Globally, gold was trading 0.48 per cent higher at USD 1,965.70 per ounce in New York.
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Gold prices on Monday fell by Rs 191 to Rs 59,125 per 10 grams in futures trade as speculators reduced their positions.
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The 24 karat gold per 10 grams reached a price of Rs 60,000, marking a significant increase of Rs 380 from the previous day's price of Rs 59,620.
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The officials also seized around 62,000 foreign cigarette sticks from two other passengers
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Gold price remained flat at Rs 59,280 per 10 gram in the national capital on Wednesday, according to HDFC Securities.
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The five passengers, who were Indian citizens, smuggled those gold via Bangkok, customs officials at Delhi airport said.
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Three passengers who are from Uttar Pradesh had arrived at the airport in a flight from Riyadh and had concealed the gold in the form of paste in their shoes
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Adilabad police said the burglars stole gold ornaments and cash from Madhukar's house by breaking open the doors
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India's gold demand in the January-March quarter of 2023 fell 17 per cent year-on-year to 112.5 tonnes following record-high and volatile gold prices
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Air Intelligence Unit of the customs department seized 269 grams of gold concealed inside chocolates from two passengers
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The increase in gold price is not just a flash in the pan, as experts predict that it may reach a whopping Rs 65,000 in the coming days.
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The ministry has clarified that the hallmarked jewellery lying with consumers as per old schemes will remain valid.
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In a new and emerging trend, more and more young women are found to be evincing interest in investing in property
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Directorate of Revenue Intelligence officials caught a passenger for allegedly smuggling gold in the Falaknuma Express train and seized 2.3 kilograms of gold from him
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The arrested persons along with the seized gold were handed over to the Customs officials in Hyderabad for further action
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In first case, the burglars broke into the house at Himayatsagar and took away 12 tolas of gold, silver articles and Rs 50,000 cash.