Still worried about the prospects ahead, the Indian diamond sector has partially resumed manufacturing polished goods in anticipation of expected pre-Xmas overseas demand.%% Meanwhile the Indian diamond industry is still passing through uncertain times and is keenly awaiting some positive cues from major overseas markets to the likely trends of pre-Christmas business. It had great expectations for significant relief formulations from the Union Budget, but these have not materialized which has added to the prevailing anxiety.%% {{Export Activity at Low Ebb :}} %% Export activity, meanwhile, remains at a low ebb. Foreign buyers in the market are few and far between. However, one cannot rule out the possibility that some major firms might be getting direct orders from their regular clients. %% {{Difficult Resumption of Manufacturing :}} %% Some firms are expecting revival of pre-Christmas demand hence they have resumed manufacturing activity, after remaining virtually idle for a long time. However, they are now facing the problem of shortage of skilled workers, many of whom have either returned to their villages or found alternate jobs in some other sectors, following their lay-off in the diamond industry. %% {{Only Partial Capacity Operative :}} %% As the situation stands at present the Indian diamond industry might be currently operating at around 40 to 50 per cent of its capacity, partly because of shortage of operatives and partly because of shortage of diamond rough apart from still subdued demand for polished gems from the major overseas markets. %% {{Hike in Rough Prices Problematic :}} %% According to trade sources, prices of rough diamonds available from DTC have been increased by 10 to 15 per cent in certain categories. For cheaper varieties, however there is said to have been a reduction of about 3 to 4 per cent. Trade circles fear that it might be difficult to have corresponding improvement in the prices of polished gems in as much as major overseas markets are still facing recessionary conditions. The hike in prices of rough will make polished diamonds costlier, while buyers have been reluctant to accept even present prices. Potential buyers may perhaps ask for some discounts which the manufacturers can ill afford. It is difficult to predict in which direction this tug-of-war will move. %%

{{Certain Categories in Demand :}} %% Currently, some demand is noticed in clean diamonds below one carat in size. Also, there is some demand for TTLD and TTLC goods. However, stars and melees seem to be friendless. The mood of diamond trade at present is to wait and watch for some time, before deciding on the next step. %% {{Visits to Antwerp Diminish :}} %% The number of manufacturers who used to visit Antwerp to procure rough has come down significantly. One reason for this is the subdued demand for polished gems. Another important reason seems to be that Belgian firms are now reluctant to supply rough diamonds on credit basis, except in special cases. Also there are considerable uncertainties in the market for rough diamond. Not long ago, certain premiums used to be available in the open market. These have been replaced by varying discounts in the wake of the hike in official prices of rough diamonds. %% {{Direct Imports from Namibia :}} %% {{India Diamond}} a special company which has been set up by some noted diamantaires, mainly to procure rough diamonds from producing centres has recently succeeded in procuring some rough diamonds worth about US$ 40 million from Namibia for the first time. It remains to be seen how these rough goods are distributed and how the buyers respond. %%

{{Main Trends :}}%% {[Export Activity at Low Ebb :]} {[Difficult Resumption of Manufacturing : ]} {[Only Partial Capacity Operative : ]} {[Hike in Rough Prices Problematic : ]} {[Certain Categories in Demand : ]} {[Visits to Antwerp Diminish : ]} {[Direct Imports from Namibia : ]} {[Local Business Slow : ]} {[Polished Diamond Exports Decline : ]} {[Imports of Rough Diamonds Down : ]} {[Gold Jewellery Downturn: ]} {[Bullion – Euro Helps Gold. ]}

{{Local Business Slow :}} %% Local business in diamonds and diamond jewellery remains slow in view of the present recessionary conditions affecting various businesses. The Union Budget has abolished the excise duty of two per cent that was applicable to branded jewellery. This may of course delight some firms that are engaged in promoting their branded jewellery, but the share of branded jewellery in the overall domestic business has been small so far. It may be some time before the consumer becomes brand-conscious and patronizes branded jewels at higher prices. The diamond trade continues to face money stringency by and large, though some bigger firms may be able to get their financial requirements from banks as usual. Interest rates on borrowings from private sources are placed around 1.5 per cent per month. Those who do not have easy access to banks are forced to borrow at such rates mainly to nurse inventories. %% {{Polished Diamond Exports Decline :}} %% Meanwhile, dispatches of cut and polished diamonds in the first two months of 2009-10 have totalled US$ 2755.60 million (Rs. 13494.16 crore), compared with US$ 3796.05 million (Rs. 15468.89 crore) showing a decline of 27.41 per cent in dollar terms and 12.77 per cent in rupees. In terms of volume shipments for these two months taken together, the outflow was down by 7.52 per cent at 94.60 lakh carats, against 102.29 lakh carats in the same period a year ago. %% {{Imports of Rough Diamonds Down :}} %% Imports of rough diamonds for the first two months of 2009-10 have totalled US$ 1806.09 million (Rs. 9006.97 crore) against US$ 3125.55 million (Rs. 13172.24 crore) for the same period of the earlier year. This shows a decline of 43.30 per cent in dollar terms and 31.62 per cent in rupees. The volume of imports also declined to 308.69 lakh carats from 443.33 lakh carats in the same period of the earlier year. %% In the same period imports of polished diamonds came down by 16.70 per cent from US$ 1833.45 million to US$ 1527.25 million. %% {{Gold Jewellery Downturn:}} %% Gold jewellery dispatches for the first two months of 2009-10 were also down at US$ 1653.87 million (Rs. 8099 crore) from US$ 1728.43 million (Rs. 7043.34 crore), showing a decline of 4.31 per cent in dollar terms but a gain of 14.94 per cent in rupee terms. %% {{Bullion – Euro Helps Gold :}} %% Gold improved in the overseas markets a little as Euro strengthened against the dollar, with a rise in European equities after strong earnings from J.P. Morgan. Appetite for dollar was reduced a little. Spot gold was placed at US$ 938.05 per oz on July 16, 2009, while silver was placed at US$ 13.25 per oz. A weakened dollar boosted interest in gold as a currency hedge. It makes gold cheaper for other currency holders. Exactly a month ago, gold was placed at US$ 937.13 per oz. and silver at US$ 14.39 per ounce. In the domestic market standard gold was quoted on July 16 at Rs. 14,825 per 10 grammes and silver at Rs. 22,205 per Kg. A month ago, on the same day standard gold was placed at Rs. 14,470 per 10 grammes and silver at Rs. 22,730 per kg.%%

Still worried about the prospects ahead, the Indian diamond sector has partially resumed manufacturing polished goods in anticipation of expected pre-Xmas overseas demand.%% Meanwhile the Indian diamond industry is still passing through uncertain times and is keenly awaiting some positive cues from major overseas markets to the likely trends of pre-Christmas business. It had great expectations for significant relief formulations from the Union Budget, but these have not materialized which has added to the prevailing anxiety.%% {{Export Activity at Low Ebb :}} %% Export activity, meanwhile, remains at a low ebb. Foreign buyers in the market are few and far between. However, one cannot rule out the possibility that some major firms might be getting direct orders from their regular clients. %% {{Difficult Resumption of Manufacturing :}} %% Some firms are expecting revival of pre-Christmas demand hence they have resumed manufacturing activity, after remaining virtually idle for a long time. However, they are now facing the problem of shortage of skilled workers, many of whom have either returned to their villages or found alternate jobs in some other sectors, following their lay-off in the diamond industry. %% {{Only Partial Capacity Operative :}} %% As the situation stands at present the Indian diamond industry might be currently operating at around 40 to 50 per cent of its capacity, partly because of shortage of operatives and partly because of shortage of diamond rough apart from still subdued demand for polished gems from the major overseas markets. %% {{Hike in Rough Prices Problematic :}} %% According to trade sources, prices of rough diamonds available from DTC have been increased by 10 to 15 per cent in certain categories. For cheaper varieties, however there is said to have been a reduction of about 3 to 4 per cent. Trade circles fear that it might be difficult to have corresponding improvement in the prices of polished gems in as much as major overseas markets are still facing recessionary conditions. The hike in prices of rough will make polished diamonds costlier, while buyers have been reluctant to accept even present prices. Potential buyers may perhaps ask for some discounts which the manufacturers can ill afford. It is difficult to predict in which direction this tug-of-war will move. %%

{{Certain Categories in Demand :}} %% Currently, some demand is noticed in clean diamonds below one carat in size. Also, there is some demand for TTLD and TTLC goods. However, stars and melees seem to be friendless. The mood of diamond trade at present is to wait and watch for some time, before deciding on the next step. %% {{Visits to Antwerp Diminish :}} %% The number of manufacturers who used to visit Antwerp to procure rough has come down significantly. One reason for this is the subdued demand for polished gems. Another important reason seems to be that Belgian firms are now reluctant to supply rough diamonds on credit basis, except in special cases. Also there are considerable uncertainties in the market for rough diamond. Not long ago, certain premiums used to be available in the open market. These have been replaced by varying discounts in the wake of the hike in official prices of rough diamonds. %% {{Direct Imports from Namibia :}} %% {{India Diamond}} a special company which has been set up by some noted diamantaires, mainly to procure rough diamonds from producing centres has recently succeeded in procuring some rough diamonds worth about US$ 40 million from Namibia for the first time. It remains to be seen how these rough goods are distributed and how the buyers respond. %%

{{Main Trends :}}%% {[Export Activity at Low Ebb :]} {[Difficult Resumption of Manufacturing : ]} {[Only Partial Capacity Operative : ]} {[Hike in Rough Prices Problematic : ]} {[Certain Categories in Demand : ]} {[Visits to Antwerp Diminish : ]} {[Direct Imports from Namibia : ]} {[Local Business Slow : ]} {[Polished Diamond Exports Decline : ]} {[Imports of Rough Diamonds Down : ]} {[Gold Jewellery Downturn: ]} {[Bullion – Euro Helps Gold. ]}

{{Local Business Slow :}} %% Local business in diamonds and diamond jewellery remains slow in view of the present recessionary conditions affecting various businesses. The Union Budget has abolished the excise duty of two per cent that was applicable to branded jewellery. This may of course delight some firms that are engaged in promoting their branded jewellery, but the share of branded jewellery in the overall domestic business has been small so far. It may be some time before the consumer becomes brand-conscious and patronizes branded jewels at higher prices. The diamond trade continues to face money stringency by and large, though some bigger firms may be able to get their financial requirements from banks as usual. Interest rates on borrowings from private sources are placed around 1.5 per cent per month. Those who do not have easy access to banks are forced to borrow at such rates mainly to nurse inventories. %% {{Polished Diamond Exports Decline :}} %% Meanwhile, dispatches of cut and polished diamonds in the first two months of 2009-10 have totalled US$ 2755.60 million (Rs. 13494.16 crore), compared with US$ 3796.05 million (Rs. 15468.89 crore) showing a decline of 27.41 per cent in dollar terms and 12.77 per cent in rupees. In terms of volume shipments for these two months taken together, the outflow was down by 7.52 per cent at 94.60 lakh carats, against 102.29 lakh carats in the same period a year ago. %% {{Imports of Rough Diamonds Down :}} %% Imports of rough diamonds for the first two months of 2009-10 have totalled US$ 1806.09 million (Rs. 9006.97 crore) against US$ 3125.55 million (Rs. 13172.24 crore) for the same period of the earlier year. This shows a decline of 43.30 per cent in dollar terms and 31.62 per cent in rupees. The volume of imports also declined to 308.69 lakh carats from 443.33 lakh carats in the same period of the earlier year. %% In the same period imports of polished diamonds came down by 16.70 per cent from US$ 1833.45 million to US$ 1527.25 million. %% {{Gold Jewellery Downturn:}} %% Gold jewellery dispatches for the first two months of 2009-10 were also down at US$ 1653.87 million (Rs. 8099 crore) from US$ 1728.43 million (Rs. 7043.34 crore), showing a decline of 4.31 per cent in dollar terms but a gain of 14.94 per cent in rupee terms. %% {{Bullion – Euro Helps Gold :}} %% Gold improved in the overseas markets a little as Euro strengthened against the dollar, with a rise in European equities after strong earnings from J.P. Morgan. Appetite for dollar was reduced a little. Spot gold was placed at US$ 938.05 per oz on July 16, 2009, while silver was placed at US$ 13.25 per oz. A weakened dollar boosted interest in gold as a currency hedge. It makes gold cheaper for other currency holders. Exactly a month ago, gold was placed at US$ 937.13 per oz. and silver at US$ 14.39 per ounce. In the domestic market standard gold was quoted on July 16 at Rs. 14,825 per 10 grammes and silver at Rs. 22,205 per Kg. A month ago, on the same day standard gold was placed at Rs. 14,470 per 10 grammes and silver at Rs. 22,730 per kg.%%

Still worried about the prospects ahead, the Indian diamond sector has partially resumed manufacturing polished goods in anticipation of expected pre-Xmas overseas demand.%% Meanwhile the Indian diamond industry is still passing through uncertain times and is keenly awaiting some positive cues from major overseas markets to the likely trends of pre-Christmas business. It had great expectations for significant relief formulations from the Union Budget, but these have not materialized which has added to the prevailing anxiety.%% {{Export Activity at Low Ebb :}} %% Export activity, meanwhile, remains at a low ebb. Foreign buyers in the market are few and far between. However, one cannot rule out the possibility that some major firms might be getting direct orders from their regular clients. %% {{Difficult Resumption of Manufacturing :}} %% Some firms are expecting revival of pre-Christmas demand hence they have resumed manufacturing activity, after remaining virtually idle for a long time. However, they are now facing the problem of shortage of skilled workers, many of whom have either returned to their villages or found alternate jobs in some other sectors, following their lay-off in the diamond industry. %% {{Only Partial Capacity Operative :}} %% As the situation stands at present the Indian diamond industry might be currently operating at around 40 to 50 per cent of its capacity, partly because of shortage of operatives and partly because of shortage of diamond rough apart from still subdued demand for polished gems from the major overseas markets. %% {{Hike in Rough Prices Problematic :}} %% According to trade sources, prices of rough diamonds available from DTC have been increased by 10 to 15 per cent in certain categories. For cheaper varieties, however there is said to have been a reduction of about 3 to 4 per cent. Trade circles fear that it might be difficult to have corresponding improvement in the prices of polished gems in as much as major overseas markets are still facing recessionary conditions. The hike in prices of rough will make polished diamonds costlier, while buyers have been reluctant to accept even present prices. Potential buyers may perhaps ask for some discounts which the manufacturers can ill afford. It is difficult to predict in which direction this tug-of-war will move. %%

{{Certain Categories in Demand :}} %% Currently, some demand is noticed in clean diamonds below one carat in size. Also, there is some demand for TTLD and TTLC goods. However, stars and melees seem to be friendless. The mood of diamond trade at present is to wait and watch for some time, before deciding on the next step. %% {{Visits to Antwerp Diminish :}} %% The number of manufacturers who used to visit Antwerp to procure rough has come down significantly. One reason for this is the subdued demand for polished gems. Another important reason seems to be that Belgian firms are now reluctant to supply rough diamonds on credit basis, except in special cases. Also there are considerable uncertainties in the market for rough diamond. Not long ago, certain premiums used to be available in the open market. These have been replaced by varying discounts in the wake of the hike in official prices of rough diamonds. %% {{Direct Imports from Namibia :}} %% {{India Diamond}} a special company which has been set up by some noted diamantaires, mainly to procure rough diamonds from producing centres has recently succeeded in procuring some rough diamonds worth about US$ 40 million from Namibia for the first time. It remains to be seen how these rough goods are distributed and how the buyers respond. %%

{{Main Trends :}}%% {[Export Activity at Low Ebb :]} {[Difficult Resumption of Manufacturing : ]} {[Only Partial Capacity Operative : ]} {[Hike in Rough Prices Problematic : ]} {[Certain Categories in Demand : ]} {[Visits to Antwerp Diminish : ]} {[Direct Imports from Namibia : ]} {[Local Business Slow : ]} {[Polished Diamond Exports Decline : ]} {[Imports of Rough Diamonds Down : ]} {[Gold Jewellery Downturn: ]} {[Bullion – Euro Helps Gold. ]}

{{Local Business Slow :}} %% Local business in diamonds and diamond jewellery remains slow in view of the present recessionary conditions affecting various businesses. The Union Budget has abolished the excise duty of two per cent that was applicable to branded jewellery. This may of course delight some firms that are engaged in promoting their branded jewellery, but the share of branded jewellery in the overall domestic business has been small so far. It may be some time before the consumer becomes brand-conscious and patronizes branded jewels at higher prices. The diamond trade continues to face money stringency by and large, though some bigger firms may be able to get their financial requirements from banks as usual. Interest rates on borrowings from private sources are placed around 1.5 per cent per month. Those who do not have easy access to banks are forced to borrow at such rates mainly to nurse inventories. %% {{Polished Diamond Exports Decline :}} %% Meanwhile, dispatches of cut and polished diamonds in the first two months of 2009-10 have totalled US$ 2755.60 million (Rs. 13494.16 crore), compared with US$ 3796.05 million (Rs. 15468.89 crore) showing a decline of 27.41 per cent in dollar terms and 12.77 per cent in rupees. In terms of volume shipments for these two months taken together, the outflow was down by 7.52 per cent at 94.60 lakh carats, against 102.29 lakh carats in the same period a year ago. %% {{Imports of Rough Diamonds Down :}} %% Imports of rough diamonds for the first two months of 2009-10 have totalled US$ 1806.09 million (Rs. 9006.97 crore) against US$ 3125.55 million (Rs. 13172.24 crore) for the same period of the earlier year. This shows a decline of 43.30 per cent in dollar terms and 31.62 per cent in rupees. The volume of imports also declined to 308.69 lakh carats from 443.33 lakh carats in the same period of the earlier year. %% In the same period imports of polished diamonds came down by 16.70 per cent from US$ 1833.45 million to US$ 1527.25 million. %% {{Gold Jewellery Downturn:}} %% Gold jewellery dispatches for the first two months of 2009-10 were also down at US$ 1653.87 million (Rs. 8099 crore) from US$ 1728.43 million (Rs. 7043.34 crore), showing a decline of 4.31 per cent in dollar terms but a gain of 14.94 per cent in rupee terms. %% {{Bullion – Euro Helps Gold :}} %% Gold improved in the overseas markets a little as Euro strengthened against the dollar, with a rise in European equities after strong earnings from J.P. Morgan. Appetite for dollar was reduced a little. Spot gold was placed at US$ 938.05 per oz on July 16, 2009, while silver was placed at US$ 13.25 per oz. A weakened dollar boosted interest in gold as a currency hedge. It makes gold cheaper for other currency holders. Exactly a month ago, gold was placed at US$ 937.13 per oz. and silver at US$ 14.39 per ounce. In the domestic market standard gold was quoted on July 16 at Rs. 14,825 per 10 grammes and silver at Rs. 22,205 per Kg. A month ago, on the same day standard gold was placed at Rs. 14,470 per 10 grammes and silver at Rs. 22,730 per kg.%%

Still worried about the prospects ahead, the Indian diamond sector has partially resumed manufacturing polished goods in anticipation of expected pre-Xmas overseas demand.%% Meanwhile the Indian diamond industry is still passing through uncertain times and is keenly awaiting some positive cues from major overseas markets to the likely trends of pre-Christmas business. It had great expectations for significant relief formulations from the Union Budget, but these have not materialized which has added to the prevailing anxiety.%% {{Export Activity at Low Ebb :}} %% Export activity, meanwhile, remains at a low ebb. Foreign buyers in the market are few and far between. However, one cannot rule out the possibility that some major firms might be getting direct orders from their regular clients. %% {{Difficult Resumption of Manufacturing :}} %% Some firms are expecting revival of pre-Christmas demand hence they have resumed manufacturing activity, after remaining virtually idle for a long time. However, they are now facing the problem of shortage of skilled workers, many of whom have either returned to their villages or found alternate jobs in some other sectors, following their lay-off in the diamond industry. %% {{Only Partial Capacity Operative :}} %% As the situation stands at present the Indian diamond industry might be currently operating at around 40 to 50 per cent of its capacity, partly because of shortage of operatives and partly because of shortage of diamond rough apart from still subdued demand for polished gems from the major overseas markets. %% {{Hike in Rough Prices Problematic :}} %% According to trade sources, prices of rough diamonds available from DTC have been increased by 10 to 15 per cent in certain categories. For cheaper varieties, however there is said to have been a reduction of about 3 to 4 per cent. Trade circles fear that it might be difficult to have corresponding improvement in the prices of polished gems in as much as major overseas markets are still facing recessionary conditions. The hike in prices of rough will make polished diamonds costlier, while buyers have been reluctant to accept even present prices. Potential buyers may perhaps ask for some discounts which the manufacturers can ill afford. It is difficult to predict in which direction this tug-of-war will move. %%

{{Certain Categories in Demand :}} %% Currently, some demand is noticed in clean diamonds below one carat in size. Also, there is some demand for TTLD and TTLC goods. However, stars and melees seem to be friendless. The mood of diamond trade at present is to wait and watch for some time, before deciding on the next step. %% {{Visits to Antwerp Diminish :}} %% The number of manufacturers who used to visit Antwerp to procure rough has come down significantly. One reason for this is the subdued demand for polished gems. Another important reason seems to be that Belgian firms are now reluctant to supply rough diamonds on credit basis, except in special cases. Also there are considerable uncertainties in the market for rough diamond. Not long ago, certain premiums used to be available in the open market. These have been replaced by varying discounts in the wake of the hike in official prices of rough diamonds. %% {{Direct Imports from Namibia :}} %% {{India Diamond}} a special company which has been set up by some noted diamantaires, mainly to procure rough diamonds from producing centres has recently succeeded in procuring some rough diamonds worth about US$ 40 million from Namibia for the first time. It remains to be seen how these rough goods are distributed and how the buyers respond. %%

{{Main Trends :}}%% {[Export Activity at Low Ebb :]} {[Difficult Resumption of Manufacturing : ]} {[Only Partial Capacity Operative : ]} {[Hike in Rough Prices Problematic : ]} {[Certain Categories in Demand : ]} {[Visits to Antwerp Diminish : ]} {[Direct Imports from Namibia : ]} {[Local Business Slow : ]} {[Polished Diamond Exports Decline : ]} {[Imports of Rough Diamonds Down : ]} {[Gold Jewellery Downturn: ]} {[Bullion – Euro Helps Gold. ]}

{{Local Business Slow :}} %% Local business in diamonds and diamond jewellery remains slow in view of the present recessionary conditions affecting various businesses. The Union Budget has abolished the excise duty of two per cent that was applicable to branded jewellery. This may of course delight some firms that are engaged in promoting their branded jewellery, but the share of branded jewellery in the overall domestic business has been small so far. It may be some time before the consumer becomes brand-conscious and patronizes branded jewels at higher prices. The diamond trade continues to face money stringency by and large, though some bigger firms may be able to get their financial requirements from banks as usual. Interest rates on borrowings from private sources are placed around 1.5 per cent per month. Those who do not have easy access to banks are forced to borrow at such rates mainly to nurse inventories. %% {{Polished Diamond Exports Decline :}} %% Meanwhile, dispatches of cut and polished diamonds in the first two months of 2009-10 have totalled US$ 2755.60 million (Rs. 13494.16 crore), compared with US$ 3796.05 million (Rs. 15468.89 crore) showing a decline of 27.41 per cent in dollar terms and 12.77 per cent in rupees. In terms of volume shipments for these two months taken together, the outflow was down by 7.52 per cent at 94.60 lakh carats, against 102.29 lakh carats in the same period a year ago. %% {{Imports of Rough Diamonds Down :}} %% Imports of rough diamonds for the first two months of 2009-10 have totalled US$ 1806.09 million (Rs. 9006.97 crore) against US$ 3125.55 million (Rs. 13172.24 crore) for the same period of the earlier year. This shows a decline of 43.30 per cent in dollar terms and 31.62 per cent in rupees. The volume of imports also declined to 308.69 lakh carats from 443.33 lakh carats in the same period of the earlier year. %% In the same period imports of polished diamonds came down by 16.70 per cent from US$ 1833.45 million to US$ 1527.25 million. %% {{Gold Jewellery Downturn:}} %% Gold jewellery dispatches for the first two months of 2009-10 were also down at US$ 1653.87 million (Rs. 8099 crore) from US$ 1728.43 million (Rs. 7043.34 crore), showing a decline of 4.31 per cent in dollar terms but a gain of 14.94 per cent in rupee terms. %% {{Bullion – Euro Helps Gold :}} %% Gold improved in the overseas markets a little as Euro strengthened against the dollar, with a rise in European equities after strong earnings from J.P. Morgan. Appetite for dollar was reduced a little. Spot gold was placed at US$ 938.05 per oz on July 16, 2009, while silver was placed at US$ 13.25 per oz. A weakened dollar boosted interest in gold as a currency hedge. It makes gold cheaper for other currency holders. Exactly a month ago, gold was placed at US$ 937.13 per oz. and silver at US$ 14.39 per ounce. In the domestic market standard gold was quoted on July 16 at Rs. 14,825 per 10 grammes and silver at Rs. 22,205 per Kg. A month ago, on the same day standard gold was placed at Rs. 14,470 per 10 grammes and silver at Rs. 22,730 per kg.%%