India’s gold imports are set to drop by a staggering 85% in February compared to the same month last year, hitting their lowest level in two decades, according to a report by Reuters

Dealers were charging a premium of up to $2 an ounce over official domestic prices, inclusive of 10.75% import and 3% sales levies, compared to last week's $3 premiums

Global benchmark spot gold prices held near a nine-year peak, close to the $1,900 an ounce level, on safe-haven investment demand, while silver eyed its best week in over three decades

Restrained retail demand for gold in India compels dealers to offer discount on purchase of gold

The yellow metal is likely to continue to remain bullish till the end of the year mostly due to sustained Central bank buying, geopolitical uncertainties and possible year-end squaring of positions in equities boosting appeal for safe-haven gold

On MCX, October gold futures were firm today, rising 1% to â‚¹39,152 per 10 grams

Silver prices rose for the fourth consecutive day, surging Rs 935 to Rs 42,035 per kg on increased offtake by industrial units and coin makers

Gold of 99.9% and 99.5% purity surged ₹930 each to ₹35,800 per 10 gram and ₹35,630 per 10 gram

According to Angel Commodities, last week, spot gold prices rose by 0.4 percent over rising global uncertainties coupled with weaker U.S. Dollar

Strong US data and corporate results coupled with firmer dollar responsible for biggest one day percentage loss in a month

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