Gold prices opened on the Multi Commodity Exchange (MCX) on Tuesday at Rs 71,026 per 10 grams and hit an intraday low of Rs 70,988. In the international market, prices hovered around $2,346.05 per ounce. Meanwhile, silver opened at Rs 81,971 per kg and hit an intraday low of Rs 81,776 on the MCX. In … Read more
Gold and silver futures traded weak on the MCX on Monday amid lack of positive triggers. On the Comex, the yellow metal traded flat hovering near three-week lows as the Street awaits US inflation data for more cues on the interest rate trajectory from the US Federal Reserve. The December gold futures were trading at … Read more
Gold prices were flat on Monday as Federal Reserve Chair Jerome Powell’s hawkish commentary doused expectations that the U.S. rate-hiking cycle was nearing an end, with investors awaiting economic data this week for confirmation on rate trajectory. FUNDAMENTALS * Spot gold was little changed at $1,915.79 per ounce by 0105 GMT, U.S. gold futures gained … Read more
India‘s gold demand in 2023 could fall 10% from a year ago to their lowest in three years, as record high prices are dampening retail purchases, the World Gold Council (WGC) said on Tuesday. The lower purchases in the world’s second-biggest gold consumer could limit a rally in global prices. Falling demand for gold imports … Read more
Spot gold closed with a loss of $1 at $1959.20 in an eventful week. Gold got some boost from the peak rate narrative as both the European Central Bank and the US Federal Reserve made it clear that they would adopt a data-dependent approach in deciding their monetary policies going forward. However, the much anticipated … Read more
Indian gold demand in the March quarter fell 17% to the lowest level in 10 quarters and is likely to remain subdued even during June and September quarters on record-high prices, the World Gold Council (WGC) said on Friday. The lower purchases in the world’s second-biggest gold consumer could limit a rally in global prices, … Read more
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 prices fell on Monday, weighed down by a stronger dollar and after recent U.S. economic data raised worries that the Federal Reserve could hike interest rates further. FUNDAMENTALS * Spot gold was down 0.2% at $1,837.59 per ounce, as of 0048 GMT. U.S. gold futures eased 0.1% to $1,847.60. * The dollar index was … Read more
Gold plays an important role in the Indian economy. It is considered a safe form of savings and investment among individuals, and it is an integral part of traditional ceremonies. This metal is considered the best collateral for loans and the precious metals industry is a significant source of employment in the country. The demand … Read more
Gold prices held steady on Wednesday, hovering near a nine-month peak touched in the previous session on expectations of slower interest rate hikes from the U.S. Federal Reserve. FUNDAMENTALS * Spot gold was flat at $1,936.39 per ounce, as of 0020 GMT. Prices hit their highest since late April 2022 on Tuesday. * U.S. gold … Read more