In the national capital, gold fell by Rs 126 on Thursday to Rs 46,967 per 10 grams. Prices were affected by the fall in global markets. According to HDFC Securities, the price of gold in the previous session was Rs 47,093 per 10 grams.
Silver became cheaper by Rs 97
Talking about silver, during this period silver fell by Rs 97 and it became Rs 66,856 per kg. It had closed at Rs 66,953 per kg in the previous trading session. In the international market, gold was trading flat at USD 1,805 an ounce while silver was flat at USD 25.39 an ounce.
Gems and jewelry exports up 92.37 percent in June
Gems and jewelry exports grew by 92.37 percent to Rs 20,851.28 crore in the month of June. Gems and Jewelry Export Promotion Council (GJEPC) informed that the export of gems and jewelry stood at Rs 10,838.93 crore in the corresponding period of last year. Similarly, the export of polished and polished diamonds (CPD) increased by 113.25 percent to Rs 14,512.11 crore in June. It was Rs 6,805.25 crore in the same month last year. GJEPC reported that gold jewelry exports grew by 398.70 percent to Rs 4,185.10 crore in June as compared to Rs 839.21 crore in the same month of the previous financial year. Gems and jewelry exports stood at Rs 67,265.66 crore in the first April-June quarter of the current fiscal, registering a growth of 254.75 percent from Rs 18,961.63 crore in the corresponding quarter of the previous fiscal.
In the last financial year 2020-21, gold imports increased by 22.58 percent to reach $34.6 billion or Rs 2.54 lakh crore. The import of gold affects the current account deficit (CAD). According to commerce ministry data, gold imports have increased due to an increase in domestic demand. Silver imports declined by 71 percent to $791 million during the fiscal.