The global high comes amidst the uncertainties of Brexit, a trade war and slowing growth, with traders increasing their silver bets.
The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling.
Smuggled gold, which is selling sharply lower than the spot market price, is also responsible for discounts not ending. Some consumers are selling high amounts of gold.
Official sources say that the finance ministry is aware of the possible spike in smuggling activity and has already asked intelligence agencies to tighten their vigilance and come down on the unofficial entry of gold into India.
Standard Chartered Bank is setting up an international banking unit primarily to look after Indian company requirements. The bank is looking for a $2-billion loan book in the first five years of business.
A substantial fluctuation is likely because for a long period gold has moved in a narrow range of $ 50-60 and at higher levels short positions were built.
If hallmarking data are anything to go by, the proportion of spurious jewellery in the country might have shrunk significantly in the past five years.
First, the industry is hoping for brisk business, as, according to projections there will be normal monsoon. Secondly, it is relieved at the fall in import of cheap umbrellas from China which had dented the domestic market for several years.
The fear of price rise gained momentum after reports surfaced that the NAFED procured 50,000 tonnes of onion this season.
NITI Aayog has been working on an action plan to relieve rural distress and energise the agricultural sector
Fund houses have been barred from being net sellers or holding net short positions at the scheme level in commodities.
State's move is seen as a pilot for a national rollout of online land title records. Maharashtra plans to start the system in Mumbai.
What do the fluctuating gold-silver price ratio portend?
While NSE is exploring 8-10 new agri-commodities, BSE is eyeing as many as 15, most of which aren't traded on any other online derivative exchange in India.
Digital gold is gold purchased online from various platforms including Paytm or Google Pay and stored in your online account.
A strengthening rupee following a sharp surge in the inflow of foreign money from investors and "illegal imports" were among some of the reasons for the fall.
Indian central bank may soon edge out its counterpart in the Netherlands from the top-10 list, as latter's holding has largely remained unchanged.
Reversal is because of strengthening rupee, subdued demand, and lack of reasons for bulls to continue positions and speculation of reduction in import duty.
Shanghai Gold Exchange plans to open a centre at GIFT City, in partnership with BSE or NSE
Sebi's main contention against brokers is that the NSEL was offering paired contracts and they were forward contracts, which were "illegal".
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