On MCX, August gold futures fell 0.23 per cent to Rs 48,158 per 10 gram. Silver July futures also collapsed by 1.37 per cent to Rs 48,103 per kilogram. MCX has decided to accept gold and silver bars refined at domestic refineries for deliveries, subject to final regulatory approval.
India's gold imports plunged 86 per cent year-on-year in June due to record high prices and as international air travel was banned and many jewellery shops were closed amid a nationwide lockdown to curb the spread of coronavirus, Reuters reported.
In value terms, June imports dropped to $608.76 million from to $2.7 billion a year ago.
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