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Spot Gold News
Gold price rises marginally by Rs 11, silver jumps Rs 1,554
Thu, Aug 13, 2020
In the international market, gold was trading with gains at USD 1,931 per ounce, while silver was flat at USD 25.88 per ounce. "Gold prices traded firm with spot international gold prices rising to USD 1,931," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Gold price falls below $1,900 level as U.S. dollar, yields rise
Wed, Aug 12, 2020
A jump in U.S. Treasury yields helped the dollar extend its winning streak, making gold more expensive for those holding other currencies. Higher yields also increase the opportunity cost of holding non-yielding gold.
Gold, silver prices continue to climb; touch record levels
Fri, Aug 07, 2020
"Spot gold prices for 24 carat in Delhi continued to scale new highs by gaining Rs 6. Gold prices are trading higher for the 16th consecutive day in India," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.
Bull-run persists in precious metals; gold above Rs 56k/10 gm
Fri, Aug 07, 2020
According to market experts, industrial and investment demand have picked up of late for silver as economies are opening up gradually post the pandemic-related lockdowns. Further global supply constraints have been a major factor for the recent surge.
Gold price accelerated higher on fragile economic recovery hopes
Fri, Aug 07, 2020
"There are mixed signals that the economy is recovering and some of the signs of recovery are relatively superficial as they show aggregate figures and not how medium and small enterprises continue to suffer," said Jeffrey Christian, managing partner of CPM Group.
Panic Room! Investors rush into gold and other havens as stocks near highs
Thu, Jul 23, 2020
The firm has increased exposure to gold in clients` portfolios with the gold allocation on average tripling since April to as much as mid-single digits as a percentage of portfolios. GenTrust has also been trimming positions in technology stocks.
Gold again at fresh high, nears Rs 50,000/10 gm
Wed, Jul 22, 2020
As economic uncertainty continues in the wake of the rising number of coronavirus cases, gold futures on the Multi-Commodity Exchange (MCX) on Wednesday touched a new high and neared the Rs 50,000 per 10 gram mark.
Gold price hovers near nine-year high as virus fears drive safe-haven demand
Tue, Jul 21, 2020
"What`s really driving gold market is stimulus and we are going to get more of it. Its the eye candy that`s driving sentiment right now," said Stephen Innes, chief market strategist at financial services firm AxiCorp. European Union leaders appeared to near an agreement on Monday on a 750-billion-euro stimulus plan for regional economies hit by the pandemic.
Gold eases below $1,800 as dollar firms, virus fears limit losses
Tue, Jul 14, 2020
Apart from the pandemic, renewed concerns about diplomatic tension between the United States and China also dented risk appetite, capping losses in bullion, which is considered a hedge against political and financial uncertainty.
Gold price: Dealers charge premiums as imports, smuggling stall
Fri, Jul 10, 2020
"The unemployment rate has been rising. Don`t think people will have the sentiment to buy more jewellery. Besides, the stock market has been hot in China recently, sucking more money away from gold to stocks," Samson Li, a Hong Kong-based precious metals analyst at Refinitiv GFMS, said.
Gold eases as U.S. data, vaccine hopes dent safe-haven demand
Thu, Jul 02, 2020
"A general pro-growth stance across markets is why we`re seeing a little bit of pressure on gold," said Michael McCarthy, chief strategist at CMC Markets, adding that market action reflected a tussle between concerns over rising cases and hopes for a vaccine and positive U.S. data.
Gold prices fall Rs 274; silver drops by Rs 542
Thu, Jun 04, 2020
"Spot gold prices for 24 carat gold at Delhi were trading down by Rs 274 reflecting overnight fall in global gold prices despite weaker rupee," HDFC Securities Senior Analyst (Commodities) Tapan Patel said. The retail jewellery stores are opening gradually in India with ease in lockdown, he added.
Gold futures fall on weak global cues
Wed, Jun 03, 2020
On the Multi Commodity Exchange, gold prices for June delivery fell by Rs 196, or 0.42 per cent, to Rs 46,600 per 10 gram in a business turnover of 28 lots. The yellow metal for August delivery declined by Rs 60, or 0.13 per cent, to Rs 46,498 per 10 gram in 15,044 lots.
BSE launches options on gold mini, silver kilo
Mon, Jun 01, 2020
"The options on goods contracts shall enable small-time jewellers, retailers to come forward and hedge their price risk on the BSE's commodity platform," said Ashishkumar Chauhan, MD and CEO of the BSE. Sameer Patil, chief business officer of the BSE, said these contracts are deliverable contracts and shall terminate into physical deliveries at the time of expiry.
Gold price futures rise on spot demand, global cues
Thu, May 28, 2020
On the Multi Commodity Exchange, gold contracts for June traded higher by Rs 4, or 0.01 per cent, to Rs 46,535 per 10 gram in a business turnover of 4,055 lots. The yellow metal for August delivery edged up by Rs 79, or 0.17 per cent, to Rs 46,786 per 10 gram in a business turnover of 13553 lots.
Bharat Bond ETF's second tranche coming in July; aims to garner up to Rs 14,000 cr
Fri, May 22, 2020
Edelweiss Asset Management on Friday said it will launch the second tranche of Bharat Bond ETF in July, with two new series, to raise up to Rs 14,000 crore. This comes after the successful launch of the initial series of the ETF in December 2019.
Gold demand in India falls 36 pct due to volatile prices, economic uncertainties: WGC
Thu, Apr 30, 2020
"Going forward, we are unable to quantify the impact on full year demand as we do not have sight of several critical factors at play under current circumstances. It is going to be a challenging year unless the industry is able to get the artisans and reorganise the supply chain in quick time," Somasundaram added.
Akshaya Tritiya: Jewellers see subdued demand with digital sale only option
Wed, Apr 22, 2020
"Due to the COVID-19 pandemic, stores across the country are closed; however, on individual level, jewellers are reaching out to their customers through innovative online offers, including booking now and payment and delivery later among others. How far the consumers are going to react to these innovative marketing by the jewellers is yet to be seen, he opined.
Gold price edges up, holds tight range ahead of US data
Fri, Apr 03, 2020
"It`s still a tug-of-war situation for gold between the virus and the equity markets; when equity markets further sell off, there is request for margin calls again. So it`s very unclear if there will be an upward trend, and gold is expected to be range-bound in the near-term."
Gold rises 1% on flight to safety driven by pandemic fears
Wed, Apr 01, 2020
"The ramification of easing monetary policy cycle and trillion dollars of stimulus means the market will be full of liquidity and ample supply of paper money in months, quarters or years to come, and that`s definitely supporting gold`s rally amid very limited supply (of physical bullion)."