Gold prices extended losses on Monday on rising fears of a US rate hike after a strong jobs report, while renewed hostilities in West Asia pushed oil prices higher and fanned inflation concerns. Spot gold fell 0.4 per cent to $4,313.11 per ounce by 0302 GMT. Prices fell about 3 per cent on Friday, hitting…
For decades now, Indians have preferred to mortgage their gold rather than selling them when faced with financial challenges. India’s households possess around 30,000 tonnes of gold holdings, which places them among the largest owners of gold in the world. However, the majority of the holdings have been economically inactive assets, stored either in bank…
Spot gold fell 3.3% to $4,327.95 an ounce as of 2:23 p.m. in New York. Gold fell the most in more than two months as robust US jobs data fuelled bets that the Federal Reserve will likely raise interest rates this year, a headwind for the precious metal. Bullion declined as much as 3.4 per cent as bond yields…
Globally, silver was trading 2.01% lower at $72.39 per ounce in New York. Silver prices on Friday fell by ₹5,811 to ₹2,58,985 per kilogram as participants reduced their bets. On the Multi Commodity Exchange, silver contracts for July delivery declined by ₹5,811, or 2.19 per cent, to ₹2,58,985 per kg in a business turnover of…
Globally, gold futures declined by 0.58% to $4,449.01 per ounce in New York. Gold prices on Friday dropped ₹1,536 to ₹1,58,011 per 10 grams in futures trade amid a fall in spot demand. On the Multi Commodity Exchange, gold contracts for the August delivery traded lower by ₹1,536, or 0.96 per cent, at ₹1,58,011 per…
Gold prices fell on Friday, and were poised for a weekly loss, as tensions in West Asia dampened hopes for a US-Iran peace deal amid rising inflation and interest rate-hike fears. Spot gold was down 0.5 per cent at $4,452.20 per ounce, as of 0225 GMT. It has fallen about 1.8 per cent for the…
India’s physically backed gold exchange-traded funds (ETFs) recorded their first net monthly outflow in a year in May, as investors booked profits following a sharp rise in prices triggered by higher import duties, data showed on Thursday. The outflow could reduce import demand in the world’s second-largest gold consumer, helping narrow the trade deficit and…
Lump-sum purchases and switch-ins into HDFC Gold ETF Fund of Funds will be processed only up to Rs ₹10 lakh per PAN per calendar month HDFC Asset Management Company, one of the largest mutual fund houses, has imposed temporary restrictions on large lump-sum investments in its gold exchange traded fund and gold ETF Fund of…
Gold prices down in India | Photo Credit: K K Mustafah Gold prices in India saw decrease today across all cities. The price for 8 grams of 24-carat gold also dropped in all cities compared to yesterday. Below is a detailed breakdown of gold prices in key cities. Gold rates in India: Gold prices in…
Silver prices dropped by Rs 621 to Rs 2.62 lakh per kilogram in futures trade on Thursday amid weak global trends and concerns that elevated crude oil rates could keep interest rates higher for longer by central banks. On the Multi Commodity Exchange, the white metal for July delivery depreciated by Rs 621, or 0.24…
