Gold prices fell Rs 100 in Saturday’s early trade with 10 gram of the yellow metal (24-carat) trading at Rs 52,150. The price of silver, meanwhile, fell Rs 700 to Rs 56,000 per kg.
The price of 22-carat gold also fell Rs 100 and the precious metal is trading at Rs 47,800.
In Mumbai and Kolkata, 24-carat gold is selling at Rs 52,150 per 10 gram, while 22-carat gold is trading at Rs 47,800 in the respective cities. In Delhi, 24-carat and 22-carat gold is trading at Rs 52,310 and Rs 47,950 per 10 gm, respectively.
In Chennai, 24-carat and 22-carat gold is trading at Rs 52,600 and Rs 48,220, respectively.
Meanwhile, India’s gold imports, which have a bearing on the country’s Current Account Deficit (CAD), rose 6.4 per cent to $12.9 billion during April-July this fiscal due to healthy demand, according to government data.
The imports stood at $12 billion during the same period a year ago.
In July 2022, however, imports of the precious metal fell sharply by 43.6 per cent to $2.4 billion, as per the latest data released by the commerce ministry.
Increase in gold and oil imports during the first four months of this fiscal contributed to a record trade deficit of $30 billion, against $10.63 billion in April-July 2021.