The dollar weakened on Friday as data revealed that weekly U.S. unemployment claims increased more than anticipated, raising hopes that a deteriorating labour market could lead to less-aggressive rate hikes from the Federal Reserve. Following a session-high increase of more than 1%, spot gold was up 0.1 percent at $1,832.59 per ounce. US gold futures…
Due to unfavourable global indicators, the gold rate is trading lower on Thursday, while the silver rate is down 0.23%. Gold April futures were down Rs 76 or 0.14% on the Multi Commodities Exchange, trading at Rs 54,835 per 10 kilos. At Rs 61,672 per kg on the MCX, silver May futures were trading 145…
The appeal of bullion as a hedge against price increases waned as gold prices edged down on Monday in the worldwide markets as central banks signalled additional interest rate increases to control the stubbornly high inflation. Spot gold was down 0.1 percent at $1,853.99 per ounce after reaching its highest level since February 15 on…
Monday’s solid U.S. economic statistics fueled concerns that the Federal Reserve will continue raising interest rates to control inflation, but gold prices were flat and remained close to a two-month low. Gold’s spot price remained at $1,810.48 per ounce. At $1,817.40, U.S. gold futures were unchanged. On Monday, gold prices fluctuated between flat and up….
Despite conflicting global cues, the gold rate is up this Friday, while the silver rate is down. Gold April futures were selling at Rs 55,743 per 10 kilos on the Multi Commodities Exchange, up Rs 156 or 0.28%. On the MCX, silver March futures were selling at Rs 65,642 per kilogram, down Rs 83. Gold’s…
While the dollar weakened from a six-week high on Tuesday as traders awaited additional economic data to assess the U.S. Federal Reserve’s rate-hike policy, gold prices edged up on the global markets. At $1,843.23, spot gold was up 0.1 percent. At $1,851.80, U.S. gold futures rose 0.1 percent. On global markets, gold and silver came…
Due to the dollar’s resurgence against its rivals, precious metals have been sluggish during the last few weeks. On February 2, 2023, gold fell by about 5% from a peak of Rs 58,847 on the MCX to Rs 55,850. Comex Gold’s 6.48 percent decline from $1,960 to $1,833 had a more significant effect. According to…
As a stronger currency and concerns about further interest rate hikes by the U.S. Federal Reserve clouded the picture for non-yielding metal, gold prices fell on February 17 in the international markets and were expected to decline for the week. At $1,832.42 per ounce, spot gold prices were down 0.3%. This week, the price of…
While investors anticipated this week’s U.S. inflation statistics for clues on the Federal Reserve’s interest rate hike path, gold prices inched lower on Monday in the international markets as the dollar strengthened. At $1,861.76 per ounce, spot gold was down 0.2 percent. The price of U.S. gold futures fell by 0.1 percent to $1,872.40. On…
The government increased the import tax on silver bars, dore (the unprocessed form of silver), and other items to match and platinum from 9.21 percent to 14.35 percent. The government raised the import tax on gold bars and gold dore around the end of last year. In order to close the duty gap, it was…
