Rupee recovers from lowest level, gains 9 paise to 91.90 against U.S. dollar
Image used for representation purpose only. | Photo Credit: Getty Images/iStockphoto The rupee recovered from…
Gold ETF investors press the exit button again after a week
Investments in physically-backed gold exchange-traded funds turned negative again this week, with US and Chinese investors leading the exits from the funds, data from the World Gold Council (WGC) showed. It is for the second consecutive week that inflows in Asia, particularly China, were negative. Outflows from the US and China were over $600 million…
Gold futures rise to ₹1.59 lakh/10g on weak dollar, US-Iran peace deal hopes
Gold prices climbed by ₹426 to ₹1.59 lakh per 10 grams in futures trade on Monday, tracking gains in global markets amid optimism surrounding a possible peace agreement between the US and Iran. On the Multi Commodity Exchange, the yellow metal for the June delivery increased by ₹426, or 0.27 per cent, to ₹1,59,105 per…
Gold jumps as prospects of Iran deal temper inflation concerns
Gold jumped as signs the US and Iran are closing in on a deal that would reopen the Strait of Hormuz tempered inflation concerns. Bullion rose as much as 1.6% to around $4,580 an ounce, erasing a moderate loss from last week. Negotiations on the precise language of the deal were ongoing and it may…
Gold rises on weaker dollar, easing oil as investors assess US-Iran deal prospects
Gold prices rose more than 1% on Monday, supported by a weaker dollar and easing oil prices, as investors weighed prospects of a breakthrough in U.S.-Iran peace negotiations. Spot gold was up 1.1% at $4,560.09 per ounce, as of 0219 GMT. U.S. gold futures for June delivery gained 0.9% to $4,562.10. The dollar weakened, making…
Gold, silver likely to remain rangebound as US-Iran negotiations near key stage: Analysts
Gold prices are likely to remain range-bound in the coming week as traders await more clarity on the evolving US-Iran negotiations, while silver is expected to retain a positive bias amid persistent geopolitical uncertainty and elevated energy rates, analysts said. Apart from geopolitical developments, investors will also track US housing data, GDP numbers, consumer confidence…
Gold offered at ₹450/g to Indian consumers after import duty hike
Gold prices in the Indian domestic market are trading at a discount of over ₹450 per g to the landed prices, including import taxes, after the Government more than doubled the Customs duty to 15 per cent from 6 per cent on May 13. The discount is being offered to spur demand, which has been…
Duty hike to push gold jewellery volumes to decadal low, but credit profiles seen stable: Crisil Ratings
The Indian organised gold jewellery retail sector is set for a decadal-low in sales volume this fiscal as high gold prices and a sharp hike in customs duty curb demand, though credit profiles of retailers are expected to remain stable on higher realisations, according to a research report by Crisil Ratings. Sales volume for the…
Jewellery sales volume will drop to 10-year low on high prices, hike in import duty
The organised gold jewellery retail sector, comprising jewellery, coins and bars, is expected to see sales volume decline further by 13-15 per cent this fiscal to 10-year-low. The jewellery sales were down 8 per cent last fiscal, due to high prices of gold and recent policy measures to curb imports of the metal. Despite the…
Price volatility keeps India gold demand subdued, China premiums ease
Gold kept trading at a steep discount in India this week, as price volatility dampened demand, while premiums eased in China. Dealers in India quoted discounts of up to $78 an ounce over official domestic prices this week, inclusive of 15% import and 3% sales levies, down from the prior week’s record discounts of up…
Gold futures drop to ₹1,59,085/10g
Gold prices on Friday dropped Rs 521 to Rs 1,59,085 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange, gold contracts for the June delivery traded lower by Rs 521, or 0.33 per cent, at Rs 1,59,085 per 10 grams in a business turnover of 790 lots….
