Gold futures on the daily chart witnessed a rebound from the 138000 zone, but the recovery lacked strength as prices failed to sustain above the crucial 146000 resistance level.
Investors with a long-term horizon could deploy around 40-50 per cent of their intended allocation upfront, said Siddhartha Khemka.
Weakness in the dollar and US Treasury yields supports recovery, but analysts differ on whether the rally can sustain amid inflation and interest rate uncertainties
At the time of writing, gold futures on Comex were trading near $3,950 per ounce, while silver was trading near $49.30 per ounce
Momentum selling and uncertainty ahead of the US midterm elections are outweighing the supporting factors like sharp decline in US yields in last two weeks and shaky AI sector.
From checking the HUID on the BIS Care app to verifying gold weight, testing purity and seeking compensation for shortfalls, here's what buyers should know before buying gold this Dhanteras
Restrictions may slow fresh FoF inflows, but investors can still buy gold ETFs through demat accounts
Praveen Singh of Mirae Asset Sharekhan has said that spot gold is facing tremendous selling pressure on rate hike concerns as inflation continues to run hot. It is advisable to sell into rallies.
Fresh lump-sum investments, new SIP registrations and SIP step-ups in these FoFs have been suspended, while existing SIPs will continue as usual.
Barring P N Gadgil Jewellers, all the jewellery stocks in the comparison have gained year-to-date (YTD), with Tribhovandas Bhimji Zaveri (TBZ) emerging as the top performer
Gold ETF inflows rose to about ₹4,500 crore, among the highest in recent times, which reflects a steady, allocation-led approach to commodities amid global uncertainty.
A break below $4,100 would expose further downside toward the $3,960 to $4,000 zone. Until that turn materialises, near-term price action is likely to remain driven by the rate market.
Gold falls ₹1,400 to ₹1.486 lakh per 10g in Delhi as weak local demand and a stronger US dollar weigh on prices
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 may rise to test the resistance zone of $4520-$4535. However, oil prices rising further will pose a downside risk to this possibility.
Gold rebounds after three days of losses as lower oil prices ease inflation concerns and Treasury yields retreat
In August, Treasury more than doubled its bond repurchase operations from $2 billion to at least $4 billion per operation
North American demand, according to the report, was relatively modest early in the month before accelerating sharply during the week of 17 August when funds added roughly $4 billion.
The CME FedWatch tool signals that market participants are pricing in a 58 per cent chance of a hike, as against 45 per cent a month ago.
Global gold ETFs recorded 23.5 tonnes of inflows in July, reversing two straight months of outflows.