Gold prices rose 0.32% to ₹87,554 on the back of continued uncertainty over US tariffs and their potential to dampen global economic growth. Also, Hong Kong’s gold imports from China rose 7.5% to 14.851 metric tonnes in February from 13.816 tonnes in January, indicating steady demand from the world’s largest gold consumer. The Fed kept…
Investors were waiting for key US inflation data due to book profits, which will provide more clues about the Federal Reserve’s interest rate policy. Market sentiment suggests it will cut rates again in June after cutting rates three times in 2024. China’s reserves rose to 73.61 million fine troy ounces in February from 73.45 million…
Gold prices closed up 0.26% at 85,874 as market attention continued on the US President’s tax measures that have fueled fears of a looming trade war. India’s gold imports are expected to fall by a staggering 85% in February from a year earlier, hitting their lowest level in 20 years as a result of ongoing…
A weaker dollar and rising trade war fears helped gold prices rise 0.43% to 85,055. The US president’s decision to impose reciprocal tariffs on countries that impose tariffs on US imports has fuelled inflation fears, which has boosted demand for gold. Meanwhile, gold reserves in London storage facilities fell 1.7% to 8,535 metric tonnes at…
Gold prices fell 0.34% to ₹85,523 after hitting a record high as investors booked profits. The decline was driven by concerns over a global trade war following the US President’s decision to impose 25% tariffs on steel and aluminium imports. Also, for the third consecutive month, China’s central bank increased its gold reserves, which totalled…
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…
A strong dollar pushed gold down 0.15% to 84,444, although demand for safe-haven assets remained steady in the face of economic uncertainty and geopolitical tensions. Expectations for two interest rate cuts in 2024 were reinforced by weaker-than-expected US services sector data, in line with the latest FOMC projections. Gold’s appeal as a safe-haven asset has…
Gold prices rose on Friday due to a softer dollar and Treasury yields, following U.S. economic data showing a slowdown in inflation. Spot gold was up 1.2% at $2,624.15 per ounce, while U.S. gold futures settled 1.4% at $2,645.10. The dollar fell 0.6% from its two-year high, making gold less expensive for overseas buyers. The…
In sporadic transactions, gold prices in the nation’s capital on Wednesday were unchanged at Rs 74,350 per 10 grams, despite a decline in international markets. Nonetheless, the price of silver decreased by Rs 400 to Rs 87,800 per kilogram. It had closed Tuesday’s previous session at Rs 88,200 per kg. In the meantime, 10 grams…
Wednesday’s gold prices didn’t move much, but they remained close to the record high they reached last week due to the Middle East crisis-driven demand for safe haven assets and the expectation of impending rate cuts by the US. spot gold was unchanged at $2,524.88 an ounce. On August 20, gold reached a record high…
