US gold futures ends the session up 0.2% at $1,269.50 per ounce
Outlook rosy for medium to long term but import duty and GST could be dampeners
Gold is often seen as an alternative investment during times of political, financial uncertainty such as US Presidential elections in Nov
The ministry is working on a scheme for investors to buy Rs 300-500 of gold per month
The Markit survey of US manufacturing climbed to a one-year top of 53.2
It is in last two weeks that discount has disappeared and price started quoting at marginal premium to the cost of imports and prices have also moderated
Palladium, which hit a more than three-month low of $613.10 in the previous session, was up 0.2 per cent at $625.50
Spot gold was down 0.9 per cent at $1,265.68 an ounce at 0745 GMT, while US gold futures fell 0.1 per cent to $1,266.40
Govt considering bringing down the 10% import duty on gold to 6%
India's overseas purchases of gold likely hit a nine-month high in October
Spot gold was down 0.3 per cent at $1,262.24
ECB has provided extraordinary stimulus recently by cutting interest rates into negative territory and pushing the cost of credit to all time lows
Spot gold gained 0.6 per cent to $1,270.11 and US gold futures rose $9 to $1,271.80 an ounce
US gold futures was broadly unchanged at $1,262.8 an ounce
Gold has shed 8 per cent from a two-year high in July amid expectations for a US interest rate hike by year-end
Rising real interest rates and better returns from other financial markets are also hurting purchases
Gold is likely to recover to above $1,300 an ounce next year as a pickup in physical demand counters more potential US rate increases
India's gold demand has also been hit by higher returns from other asset classes
Bullion traders in the region are exposed to intra day price volatility and overnight foreign exchange risks with benchmark prices currently being set out of London
US gold futures were flat at $1,255.60 an ounce