Spot gold was down 0.5% at $1,736.71 per ounce by 06:00 GMT while US gold futures were down 0.2% at $1,738.80 per ounce.
Chennai Customs said, “5.55 kg gold worth Rs 2.53 crore and foreign currency worth Rs24 lakhs seized from passengers arriving from and departing to Gulf under Customs Act & Foreign Exchange Management Act (FEMA). Gold concealed in wigs, socks, innerwear, rectum & aircraft. Six Arrested.”
Spot gold was down 0.3% at $1,734.31 per ounce by 03:45 GMT while US gold futures were also down 0.3% at $1,733.70 per ounce.
Spot gold was steady at $1,711.61 per ounce by 02:57 GMT while US gold futures dipped 0.3% to $1,710.20.
Retail consumers in India continued to buy up physical gold this week as prices retreated to a near one-year low, while lower rates also injected fresh activity in other hubs, especially Singapore.
The latest tranche of India’s Sovereign Gold Bonds 2020-21 will be opened for a period from March 1 to 5, 2021. The issue price of the bond during the subscription period will be Rs4,662 per gramme.
Spot gold rose 0.4% to $1,707.81 per ounce by 05:23 GMT while US gold futures climbed 0.4% to $1,704.90.
Spot gold was up 1% at $1,750.24 per ounce by 05:44 GMT, after rising as much as 1.1% earlier in the session while US gold futures rose 1.1% to $1,748.50.
Spot gold eased 0.3 % to $1,717.99 per ounce by 06:33 GMT while US gold futures slipped 0.4% to $1,716.10.