Spot gold has been under tremendous selling pressure due to surging real yields and strong US Dollar.
Praveen Singh of Mirae Asset Sharekhan said that Hormuz optimism can keep gold supported in the very short term. Upside is likely to be limited to $4330 unless more clarity emerges on US-Iran talks.
Gold is expected to trade with a positive bias in near-term, and can extend its advance to $4,200 level in the coming weeks. Upside will remain capped unless the rate hike probability comes down furth
Gold prices have fallen by over ₹50,000 from their record high, but instead of buying more, Indians are selling their gold. What's driving this surprising trend, and is now the right time to invest? W
Bullion rose more than 3 per cent to its highest level since March 19
Spot gold rose 0.6 per cent to $5,219.97 per ounce, as of 0153 GMT, after scaling a record high of $5,224.95 earlier, up more than 20 per cent since the start of the year
The price of 22-carat gold increased by ₹10, with ten grams of the yellow metal selling at ₹1,49,150
In the previous session, Indian markets ended in the red after the RBI MPC cut the repo rate by 25 basis points to 6 per cent, and shifted its policy stance from 'accommodative' to 'neutral'.
At 7:00 AM, GIFT Nifty Futures were up 126 points at 22,570, suggesting a gap-up start.
At 6:35 AM, GIFT Nifty futures were trading 50 points higher at 24,753 levels, hinting at an upbeat start
At 6:30 AM, GIFT Nifty Futures were trading about 14 points higher at 25,069, suggesting a flat to positive start for Indian markets.
At 6:30 AM, GIFT Nifty Futures were trading about 49 points lower at 25,069, suggesting a negative start for Indian markets.
Gold, Treasuries and the S&P 500 Index have all typically risen as the Fed starts lowering rates, according to an analysis of the past six easing cycles going back to 1989
Oil prices shot up following the news of Raisi's helicopter crash in Asian Markets; OPEC and its allies are expected to meet on June 1
As of the end of March 2024, the Reserve Bank of India held a total of 822 metric tonnes of gold, with 408 metric tonnes held within the country
The price of one kilogram of silver in Chennai stood at Rs 89,100
Gold prices inched up in early Asian hours as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher to combat inflation
Gold prices edged higher as the dollar slipped, while investors looked forward to a speech by U.S. Federal Reserve Chair Jerome Powell at the Jackson Hole symposium for clues on interest rate hikes
Gold prices steadied at a one-month high on Friday, ahead of a much awaited US jobs data, as a retreat in Treasury yields and growing recession fears boosted safe-haven demand kept bullion on track.
Gold prices edged higher, after dropping over 1% in the previous session, as concerns over the economic fallout from surging Covid-19 cases outweighed positive vaccine news