Gold Silver Reports (GSR) — Gold prices climbed Rs 80 to Rs 32,150 per 10 gram while silver ended Rs 150 higher at Rs 38,150 per kg. Gold prices were on a downtrend last week, falling Rs 620 over four days. On Saturday, gold fell by Rs 180 to Rs 32,070 per 10 gram.
Demand for physical gold was modest in India this week as the top bullion consuming state of Kerala coped with floods, while interest for the metal remained lacklustre elsewhere in Asia as buyers awaited a dip in prices.
Gold Silver Reports (GSR) – Gold imports had amounted to $11.26 billion in the corresponding quarter of last financial year. The imports of the metal have been declining since January this year. Contraction in gold imports help contain the current account deficit.