Gold price: The yellow metal faces risk from fickle bond yields as deficit concerns loom large. Near-term upside is limited, says Praveen Singh of Sharekhan
"Gold will be torn between the risk of rising inflation, potentially slowing the pace of US rate cuts, as tariffs are rolled out and continued demand for safe haven assets," said Ole Hansen, head
Gold rate today: Donald Trump coming to power is likely to heighten the Sino-US trade tensions, which would be positive for gold
Fitch Ratings on Monday affirmed IIFL Finance's ratings with a stable outlook, saying that after the lifting of the ban on new gold-backed lending imposed by the Reserve Bank of India (RBI), the firm's franchise will gradually stabilise. The RBI in September, had lifted regulatory restrictions it had imposed in March on IIFL Finance's gold-backed lending business. Fitch Ratings has affirmed India-based IIFL Finance Ltd's long-term issuer default rating (IDR) and medium-term note programme rating at 'B+', and removed the ratings from 'Rating Watch Negative'. The outlook on the IDR is stable. The affirmation and stable outlook reflect expectation that IIFL Finance's franchise will gradually stabilise after the lifting of the ban. "Funding towards the gold-backed lending entity remains tentative, which could continue to restrain growth in the product. Nonetheless, funding volume for the housing finance and microfinance subsidiaries has been more resilient, which should support the cre
Consequent to high gold prices, the domestic jewellery industry also faced many challenges during the recently concluded Samvat
Gold prices today: Spot gold hit a fresh record high of $2,773.53 on October 29, 2024. Buying the dips is the preferred strategy
Gold rate today: As gold prices are expected to be highly volatile, especially due to Brics headlines, buying the dips is the preferred strategy
Presently, gold is not affected by the traditional drivers. Traders are focusing rather on uncertainties over the US Presidential election outcome and possibility of resurgence of inflation in
This year's 30 per cent gold price rally, which took spot prices to a record high of $2,696.59 per troy ounce on Thursday, has been affecting physical demand in price-sensitive Asian markets
If China's stimulus details prove to be convincing to investor community, it is highly likely that gold prices may come under increased downside pressure
In Delhi, the price of ten grams of 22-carat gold stood at Rs 71,290 and in Bengaluru, and Chennai, ten grams of 22-carat gold was trading at Rs 71,140
The price of 22-carat gold also witnessed a fall of Rs 10, with ten grams of the yellow metal selling at Rs 71,190
Spot gold at the time of the MCX closing was trading at $2624, up around 0.55 per cent on the day. The MCX December Gold contract at Rs 75,152 (LTP) was up nearly 0.30 per cent.
Spot gold was up 0.3 per cent at $2,615.19 per ounce, as of 0833 GMT. US gold futures edged 0.2 per cent higher to $2,632.30
Despite the increase in gold prices, the enduring appeal of gold during festive seasons and weddings remains strong
Spot gold crashed to breach the crucial support around $2620 on Tuesday as commodities witnessed across-the-board selling.
UBS analysts have raised gold's target to $2,750 per oz by end-2024 (from $2,600 per oz), $2,850 per oz by mid-2025 (from $2,700 per oz), and $2,900 per oz by end-3Q25 (from $2,750 per oz)
Gold hit a fresh record high of $2664 and closed with a hefty gain of 1.09 per cent at $2657.
Prices of gold have climbed 26 per cent in 2024, its biggest annual rise since 2010, as investors also sought to hedge uncertainties spurred by prolonged conflicts in the Middle East and elsewhere
US yields and the US Dollar Index surged on no recession talks, which sent the yellow metal to $2547 in today's Asian session.