Gold prices were last seen at Rs 37,790 per 10 grams in the national capital on Monday, according to industry body India Bullion and Jewellers' Association (IBJA). These rates are exclusive of a 3 per cent Goods and services Tax (GST) and making charges, IBJA mentioned on its website. Globally, gold prices inched up on Monday as investors awaited cues from the US Federal Reserve on its monetary policy outlook, while trying to size up the chances of a new round of US tariffs on Chinese goods.
Spot gold was last seen 0.2 per cent up at $1,462.10 per ounce. US gold futures rose 0.1 per cent to $1,466.50.
Gold has gained about 14 per cent this year after the US Federal Reserve cut rates three times this year on the backdrop of a long-drawn trade war and its impact on economy. The US Federal Reserve will now meet on December 10-12 for another interest rate decision.
In India, gold imports in November jumped 78 per cent from a month earlier to the highest level in five months as jewellers in the world's second-biggest market for the metal restocked after a fall in prices, a government source said last week.
India imported 71 tonnes of gold in November, compared with 40 tonnes in October, news agency Reuters reported citing source.
Country's gold imports could fall below 40 tonnes in December, said a Mumbai-based dealer with a gold importing bank, which would mark a drop from last year's 73 tonnes.