Gold demand in India, the world's largest bullion buyer, will be strong in the month of October, a traditional time for festivals, despite high inflation that eats into savings and multiple growth-choking RBI rates hikes.
Experts opined that the auspicious timing for buying gold on Guru Pushyamrit yoga are from 10:30 am to 3:00 pm and 4:30 pm to 6:00 pm.
In India, gold prices have gained 29 percent since the start of the year, compared with just 15 percent gains in the stock market.
Indian gold imports rose 47 percent to 265 tonnes in the last quarter of 2010, continuing a strong trend to end at a little over 950 tonnes last year.
Spot gold was higher at $1,674.09 an ounce on Tuesday, easing from a three-week high of $1,694.60 hit in the previous session. Prices are still down more than 12.5 percent from the record of $1,920.30 struck in early September.
Here is the list of Bullion prices in the four Metros. Price as per Bullion closing yesterday
Mumbai
Gold Rs 26,325 per 10 gm
Kolkata
Gold RS 26,900 per 10 gm
Delhi
Gold Rs 26,820 per 10 gm
Chennai
Gold Rs 26,520 per 10 gm
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