Gold Steadies as Rupee Weakens and Silver Climbs Amid Import Curbs

Gold Steadies as Rupee Weakens and Silver Climbs Amid Import Curbs

Gold prices in India remained flat, while silver rates increased due to import restrictions. Despite a global market sell-off, domestic gold prices were cushioned by a weakened rupee. The government imposed new restrictions on silver imports to manage the currency and curb non-essential imports, impacting local market premiums.

India roils the gold and silver markets–how long will that continue?

This week we’ll get to see if the restrictions India slapped on gold and silver imports in an effort defend the rupee seNd precious metals tumbling again in the week ahead.

Gold flat at Rs 1.62 lakh/10g; silver edges higher on import curbs

New Delhi, May 18: Gold prices remained flat at Rs 1.62 lakh per 10 grams in the national capital on Monday, while silver rates edged higher to Rs 2.76 lakh per kilogram amid fresh restrictions on imports of the white metal and weakness in the rupee. According to the All India Sarafa Association, the white metal appreciated by Rs 1,000 to Rs 2,76,000 per kg (inclusive of all taxes) from Friday's closing level of Rs 2,75,000 per kg. Gold of 99.9 …