Gold prices jump Rs 2,800 per 10 grams in 6 sessions. What should investors do now?

Gold prices jump Rs 2,800 per 10 grams in 6 sessions. What should investors do now?

Gold has turned dearer by more than Rs 2,800 per 10 grams led by a six-session rally. The yellow metal hit a fresh 52-week high of Rs 65,525 on Thursday, surpassing a key resistance level of Rs 65,500 within hours of its opening. The recent surge in yellow metal in the domestic and international markets … Read more

Eroding geopolitical risk premium not in favour of gold’s appeal

Eroding geopolitical risk premium not in favour of gold’s appeal

Dismal US monthly job report and ISM services data Friday sank the US yields and consequently, the US Dollar index, which propelled the gold prices above $2000. However, reduced geopolitical concerns led to a decline from the day’s high. Spot gold closed with a gain of 0.36% at $1992.72. It was lower on the week … Read more

Gold faces headwinds as hawkish Fed, rising yields pale optimism

Gold faces headwinds as hawkish Fed, rising yields pale optimism

During the September FOMC meeting, the Federal Reserve maintained the federal funds rate target range at a 22-year high of 5.25%-5.5%. Fed Chair Jerome Powell, however, conveyed that interest rates must remain elevated for an extended period due to the renewed strength in the economy. While the central bank is nearing the end of its … Read more

Gold likely to remain rangebound with a bearish outlook next week

Gold likely to remain rangebound with a bearish outlook next week

Highlights of the week ended August 4 included a huge surge in long-dated US yields and a US credit rating downgrade by Fitch. Long-term yields surged to fresh cycle high on increased auction borrowing sizes across the board. Ten-year US yields rose to the highest level since October 2022 as the yields rose to 4.2043% … Read more

Gold is seen range-bound ahead of the US FOMC decision next week

Gold is seen range-bound ahead of the US FOMC decision next week

The metal benefitted from the peak rate narrative being pushed by the markets as inflation readings in the US, Australia, New Zealand, and the UK came in short of forecast, which has given rise to a possibility of key central banks soon hitting a pause button in their rate hike mission aimed at reining in … Read more

US jobs report throws a lifeline for gold; likely to trade in the $1900-$1950 range next week

US jobs report throws a lifeline for gold; likely to trade in the $1900-$1950 range next week

The week ending July 7 turned out to be a week of whipsaws for the gold traders as, depending on the US data released through the week, the metal swung from one end to the other end of its current trading range of $1900-$1950. The US macroeconomic data released in the week were mixed. ISM … Read more

Gold outlook remains weak for the coming week; resistance seen at $1950-1980 region

Gold outlook remains weak for the coming week; resistance seen at $1950-1980 region

Spot gold closed the week with a loss of 1.90% at $1921.47. The highlight of the week was the UK’s core CPI inflation rising to a 31-year high, which stoked concerns among investors as elevated inflation calls for further aggressive rate hikes by the Bank of England amid slowing growth. Bank of England (BoE) hiked … Read more

Gold may not break key support zone of $1930-$1920; US Fed policy eyed

Gold may not break key support zone of $1930-$1920; US Fed policy eyed

Spot gold closed the week ended June 9 with a gain of around 0.70% at $1960.88. Two-year US yields were up almost 2% for the week as the US Dollar index fell 0.45% to close at 103.55. Ten-year yields settled at 3.743%, up 1.11%. It was relatively a lighter data week on the US data … Read more

Fears of financial contagion could keep gold near record highs

Fears of financial contagion could keep gold near record highs

COMEX gold prices are trading near a one-year high of $2014.9 per troy ounce notched in the previous week. The yellow metal started the week on a negative note, as the SNB brokered UBS buyout of Credit Suisse calmed markets and improved the risk sentiments. There were also reports that the US officials were studying … Read more

Gold unstoppable! Should you buy at current highs or wait for correction?

Gold unstoppable! Should you buy at current highs or wait for correction?

Gold prices have shot up nearly 8% this year-to-date and the yellow metal has outperformed all other asset classes. As the prices remain elevated, investors must wait for some correction in yellow metal before resuming a buy. While the jury is still out on whether the Federal Reserve will increase interest rates or do a … Read more