Gold prices rose 1.24% to $86,113 on concerns over the US President’s tax plans. A 9% price increase is expected by the end of the year on strong central bank demand, which is why Goldman Sachs (NYSE:GS) raised its 2025 gold price forecast to $3,100 per ounce from $2,890 per ounce. Following a report on…
Gold prices rose 0.38% to ₹85,809 as the US dollar weakened, concerns over the US president’s potential tax policies and concerns that they could worsen global trade tensions. Traders are now leaning towards a rate cut in July as headline inflation has been higher than expected. After reaching a peak demand of 802.8 metric tonnes…
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 in Asian trade remained unchanged, despite the US Federal Reserve’s interest rate cuts this year. Spot Gold was at $2,607.65 per ounce, while Gold Futures expiring in February edged 0.2% lower to $2,620.22 an ounce. Gold prices have risen more than 26% in 2024 due to the Fed’s outsized rate cuts earlier this…
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…
Strong gold demand across markets propelled Kerala-based jewelry retailer Kalyan Jewellers’ double-digit revenue and same-store sales growth in the September quarter (Q2FY25). The news comes after competitor Titan revealed a 25% year-over-year increase in domestic operations for the second quarter, following a comparatively weak June quarter. Kalyan Jewellers announced on Monday that its September quarter…
Gold prices fell slightly in Asian trade on Tuesday, but remained close to record highs amid growing confidence that the Federal Reserve will cut interest rates by a wide margin this week. Spot gold fell 0.2% to $2,578.03 an ounce, while gold futures expiring in December fell 0.1% to $2,605.05 an ounce. The dollar fell…
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…
