Central banks ease purchasing gold in Jan compared with 2025 average buys
In an interesting development, the Bank of Korea (BOK) announced plans to incorporate overseas-listed physical…
Gold imports drop 70% to 30 tonnes after duty hike: Official
Gold imports in India, the world’s second-biggest gold consumer after China, are driven by the jewellery industry demand. | Photo Credit: AJAY VERMA India’s gold imports have reduced about 70 per cent to 25-30 tonnes after customs duty on the yellow metal was more than doubled to 15 per cent, an official said on Thursday….
Gold climbs over 1% as oil drops on US-Iran interim deal
See also: | Photo Credit: scanrail Gold rose more than 1% on Thursday, recouping losses from the previous session, as a drop in oil prices following a US-Iran interim agreement dampened inflation expectations and supported bullion. Spot gold was up 1.4% at $4,316.42 per ounce, as of 0242 GMT, after declining 1.7% on Wednesday. U.S….
Silver futures decline to ₹2.4 lakh/kg
Silver prices on Wednesday fell by ₹959 to ₹2,49,146 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for July delivery declined by ₹959, or 0.38 per cent, to ₹2,49,146 per kg in a business turnover of 673 lots. Analysts said a sell-off by participants mainly weighed on silver prices….
Gold futures drop to ₹1,52,530/10g
Gold prices on Wednesday dropped ₹561 to ₹1,52,530 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange, yellow metal contracts for August delivery traded lower by ₹561, or 0.37 per cent, at ₹1,52,530 per 10 grams in a business turnover of 613 lots. Analysts attributed the fall…
Gold extends gains as rate-hike bets ease ahead of Fed verdict
Gold gained for a fifth consecutive session on Wednesday as optimism over a U.S.-Iran peace agreement eased expectations of U.S. interest rate hikes, while investors awaited further details on the deal and the Federal Reserve’s policy meeting. Spot gold was up 0.3% at $4,341.12 per ounce, as of 0230 GMT, trading near a one-week high…
India’s gems and jewellery exports fall as high gold prices hit shipments
India’s gems and jewellery exports declined 2.49% year-on-year in May due to high gold prices and supply constraints, according to GJEPC. | Photo Credit: – India’s gems and jewellery exports declined by 2.49 per cent year-on-year in May to USD 2,047.89 million (Rs 19,573.96 crores) following high gold prices and supply constraints, the Gem and…
Central banks look to increase gold reserves in coming year: WGC survey
About 89 per cent of global central banks that participated in a survey conducted by the World Gold Council believe gold reserves will increase over the next 12 months | Photo Credit: scanrail Given the growing global uncertainty, central banks of most countries plan to accumulate more gold as part of reserves in the next…
Gold firms as US-Iran deal cools rate hike bets ahead of Fed meeting
See also: | Photo Credit: scanrail Gold prices firmed on Tuesday after an interim US–Iran deal to end the war in the Persian Gulf eased bets of a US rate hike, with investors awaiting details on the agreement and the Federal Reserve’s policy meeting. Spot gold was up 0.8% at $4,341.39 per ounce at 0851…
Led by US, exits from gold ETFs continue for the 5th week in a row
The outflows were the highest as of date this year and followed exits to the tune of $2.71 million in the week ending June 5. | Photo Credit: istock.com Investors chose to encash $4 for every dollar invested in physically-backed gold exchange-traded funds (ETFs) last week, as investments continued to witness net negative inflows for…
Gem, jewellery exports dip 2% on gold supply shortage, weak demand
Gem and jewellery exports dipped two per cent in May to $2.05 billion against $2.10 billion in the same period last year, largely due to shortage of gold availability and growing uncertainty over the ongoing war between the US and Iran. In rupee terms, it was up 9 per cent to ₹19,574 crore (₹17,896 crore…
