While gold is traditionally considered an inflation hedge, rate hikes translate into a higher opportunity cost for holding bullion, which pays no interest
The European Central Bank is due to meet later this week, where it is expected to deliver a large 75 basis-point interest rate hike to tame record high inflation
Data also showed a bigger-than-expected rebound in U.S. consumer confidence in August
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 hit a more than one-month low on Monday, pressured by a robust dollar after Jerome Powell signalled continuing with an aggressive monetary policy to tame inflation
Gold and silver prices remained unchanged in Monday's early trade with ten gram of the yellow metal (24-carat) trading at Rs 51,600
Rate hikes increase the opportunity cost of holding bullion, which pays no interest, while boosting the greenback
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Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion
Gold is highly sensitive to rising U.S. interest rates, as these increase the opportunity cost of holding non-yielding bullion
Gold prices were flat today, as investors awaited the release of the minutes of the U.S. Federal Reserve's last policy meeting later in the day that could offer clues on further interest rate hikes.
The latest bout of outflows come amid a sharp surge in the equity markets
Gold became dearer in Saturday's early trade by Rs 160 per 10 gram with 24-carat of the yellow metal trading at Rs 51,980
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.
The price of silver went up by Rs 200 per kg on Friday, trading at Rs 57,700
(Reuters) - Gold prices jumped more than 1% on Thursday as a pullback in the dollar and U.S. Treasury yields provided support ahead of a key U.S. jobs report that could influence the Federal Reserve's policy stance.
Gold prices rose on Wednesday as a pullback in the dollar and Sino-US tensions helped counter pressure from a rise in US Treasury yields after hawkish comments from Federal Reserve officials.
IIBX has the potential to ease the hassle involved in importing precious metals
The precious metal had closed at Rs 52,142 per 10 grams in the previous trade
Gold and Silver prices go down gradually. Chennai to be the most expensive to city to buy gold and silver.