Gold production has increased in almost every year since 2001, growing from 2t to 33.5 t in 2013.
The Indian Gold is now trading lower by Rs 48 per 10 grams, while the MCX Silver has declined Rs 58.
The MCX Gold prices have moved within the daily Bollinger Band; momentum oscillators are showing some signs of weakness ahead.
The MCX Gold futures are quoting at Rs 27,985 per 10 grams, down Rs 51 per 10 grams or 0.41 per cent on the day.
The Gold Feb and Silver Mar futures are now quoted at Rs 27,988 and Rs 40,072, respectively.
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Mumbai Gold, Silver rate