Below the Quote on Gold & Silver by Anindya Banerjee, SVP, Head of Research, Currency, Commodity & Interest Rates, Kotak Securities
MCX Gold and Silver prices faced significant selling pressure following a reduction in basic customs duty from 10% to 5%, and a decrease in AIDC from 5% to 1%, resulting in a total import duty of 6%. This move has led to a sharp decline in prices, with Gold down by Rs. 4000/10 grams and Silver plummeting by Rs. 4090/kg.
While cheaper...
Quote on Gold & Silver by Anindya Banerjee, SVP, Head of Research, Currency, Commodity & Interest Rates, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold prices held above $2,400, breaking a four-day losing streak on Tuesday, as the market awaited clarity on the Fed's first interest rate cut. Today, Comex Gold continues to hold gains, trading above $2410 per ounce amid anticipation of upcoming US data releases that could support Fed rate cuts. US personal consumption expenditures, Fed’s preferred underlying inflatio...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Indonesia is planning to broaden its mineral and coal online tracking system, known as Simbara, to include several commodities, including copper, gold and bauxite, said the country's Minister for Energy and Mineral Resources Arifin Tasrif.
He mentioned the plan after the government officially broadened its Simbara to encompass nickel and tin commodities on Monday, Xinhua news agency reported.
"Next, we will finish several other commodities, including copper, gold, bauxite...
Indonesia to extend online tracking system to copper, gold and bauxite