Following U.S.President warning that the US could take military action against Iran, a major oil producer, concerns about potential disruptions to oil supplies in the Middle East increased in the markets. As a result, oil prices rose in Asian trading on Friday. Despite some losses in previous trading sessions, expectations of improved global oil demand,…
A stronger US dollar, which touched its highest level since March 4 at 104.3, led gold prices to fall 0.57% to settle at ₹87,278, its lowest since March 4. Traders priced in a rate cut of about 63 basis points for 2024 after the Federal Reserve’s stance on deferring interest rate hikes due to economic…
Gold prices rose 0.2% to ₹86,184 on a weaker dollar and US trade tensions. Gold’s appeal was further bolstered by US economic data, which pointed to a slowdown in business activity and a decline in consumer confidence. Physical gold consumption in China and India remained weak on the back of record prices, leading to a…
Rising trade concerns between the US and China and poor US employment figures helped gold prices rise 0.53% to settle at 84,888. By the end of January, China’s central bank had 73.45 million fine troy ounces of gold, increasing its reserves for the third consecutive month. Gold holdings in London vaults fell 1.7% to 8,535…
