Finance
Gold prices fell by Rs 100 in early trade on Saturday, with a gram of the yellow metal (24-carat) trading at Rs 52,150. Meanwhile, the price of silver fell Rs 700 to Rs 56,000 per kg.
The price of 22-carat gold has also dropped by Rs 100, with the precious metal now trading at Rs 47,800.
In Mumbai and Kolkata, 24-carat gold is selling for Rs 52,150 per 10 gram, while 22-carat gold is selling for Rs 47,800. 24-carat and 22-carat gold are trading at Rs 52,310 and Rs 47,950 per 10 gm in Delhi, respectively.
In Chennai, 24-carat gold costs Rs 52,600 and 22-carat gold costs Rs 48,220.
Meanwhile, according to government data, India’s gold imports, which affect the country’s Current Account Deficit (CAD), increased 6.4% to $12.9 billion during April-July this fiscal year due to strong demand.
Imports totaled $12 billion during the same period last year.
According to the most recent commerce ministry data, imports of the precious metal fell by 43.6 percent to $2.4 billion in July 2022.
Increased imports of gold and oil in the first four months of this fiscal year contributed to a record trade deficit of $30 billion, compared to $10.63 billion in April-July 2021.
Source:BS
