Gold rate: Check out the current price

NEW DELHI: Gold fell to a two-week low on Wednesday as investor appetite for riskier assets surged on renewed optimism over the US economy and as political uncertainty in France receded, softening demand for safe-haven assets.

Spot gold was mostly unchanged at $1,263.55 at 0322 GMT. Prices touched a low of 1,260.90 earlier in the session, the lowest since April 11.

Bullion fell 0.9 per cent on Tuesday, the biggest one-day decline since March 2.



WHAT'S HAPPENING TODAY
The yellow metal was trading 0.36 per cent, or Rs 104, down at Rs 28,710 per 10 gm around 10.10 am (IST), while the white metal was trading 0.24 per cent, or Rs 99, down at Rs 40,317 per kg. SPDR Gold Trust GLD, the world's largest gold-backed exchange traded fund, said its latest holdings stood at 854.25 tonnes, down 5.92 tonnes, from previous business day. READ MORE

IF RATES ARE STEADY, GOLD LOAN NBFCS MAY SEE 28% GROWTH
Gold loan NBFCs such as Manappuram Finance and Muthoot Fincorp are expecting a growth of 15-28% in the current financial year in business if gold prices stay the way they are, and there are no major disruptions to the domestic and global economy. READ MORE

TRADE ASSOCIATIONS PITCH FOR EXPORT OF INDIAN GOLD BARS
India's bullion trade is requesting the government to permit export of gold bars made locally as the first step towards establishment of a good delivery Indian gold bar standard analogous with global benchmark London Bullion Market Association good delivery bar. Two trade associations have suggested different ways to go about export. READ MORE

FROM JUNE, ONLY BIS ACCREDITED REFINERS CAN IMPORT RAW GOLD
The government has mandated that only BIS accredited refineries will be allowed to import dore, or raw gold, effective June 1 this year. This could potentially affect 20% of gold supply through dore, estimated at an annual 150-250 tonnes depending on premium that spot gold trades at to its landed price. READ MORE