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Gold prices set for second straight weekly fall Source Gold prices fell on Friday and were headed for a second straight weekly fall as traders assessed the impact of Donald Trump's presidency and its implications for U.S. interest rates. Spot gold fell 0.7% to $2,687.65 per ounce as of 0645 GMT and has slid nearly 2% this week. Prices hit over three-week lows on Wednesday in the aftermath of Trump's U.S. presidential election win, but rebounded by over 1% a day later. U.S. gold futures shed 0.4% to $2,694.50 on the day. The U.S. ...
Gold prices set for second straight weekly fall Source
Gold prices set for second straight weekly fall Source
Source: Reuters
2024-11-08 09:20:44 am
Indian gold industry forms self-regulatory body with WGC backing India's gold industry, with the support of the World Gold Council (WGC), has established a self-regulatory organisation in a bid to increase consumer confidence and restore trust, the WGC said on Tuesday. The newly-formed Indian Association for Gold Excellence and Standards (IAGES) aims to promote fair, transparent and sustainable practices in the bullion industry, along with regulatory compliance, a code of conduct, and an audit framework, said Sachin Jain, CEO of WGC's Indian ope...
Indian gold industry forms self-regulatory body with WGC backing
Indian gold industry forms self-regulatory body with WGC backing
Source: Reuters
2024-08-06 12:30:23 pm
Vietnam's gold demand hits highest level since 2014 Gold bar and coin demand in Vietnam in the first half of this year reached 26 tonnes, the highest level since 2014, Vietnam News Agency reported Thursday, citing the World Gold Council's Q2 2024 Gold Demand Trends report.  The country's total demand for gold bars and coins in Q2 jumped 30 per cent year-on-year to 12 tonnes, said the report. Gold bar and coin demand in Vietnam rose as investors continue to seek refuge in gold to combat rising inflation, a weaker local curren...
Vietnam's gold demand hits highest level since 2014
Vietnam's gold demand hits highest level since 2014
Source: IANS
2024-08-01 06:10:03 pm
India's duty cut to revive gold demand after weak June quarter, World Gold Council says India's gold demand in the June quarter fell 5% from a year ago, but consumption in the second half of 2024 is set to improve due to a correction in local price following a steep reduction in import taxes, the World Gold Council (WGC) said on Tuesday. Higher purchases in the world's second-biggest gold consumer could support global benchmark prices, which are trading near record highs. The recent 9 percentage point reduction in import duty on gold, implemented before the main fe...
India's duty cut to revive gold demand after weak June quarter, World Gold Council says
India's duty cut to revive gold demand after weak June quarter, World Gold Council says
Source: Reuters
2024-07-30 02:06:29 pm
Gold skids on profit-taking, with US economic data on radar Gold prices fell more than 1% on Thursday as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much. Spot gold fell 1.2% to $2,369.20 per ounce by 0533 GMT. U.S. gold futures dropped 1.8% to $2,373.00. "When you look from a fundamental perspective, there are no factors pressuring gold. So, it looks like we are seeing some profit-taking and from a technical perspective, prices could m...
Gold skids on profit-taking, with US economic data on radar
Gold skids on profit-taking, with US economic data on radar
Source: Reuters
2024-07-25 09:09:21 am
India`s foreign exchange reserves hit record high India's foreign exchange reserves rose for a second straight week and hit a record high of $666.85 billion as of July 12, data from the central bank showed on Friday. The reserves rose by $9.7 billion in the reporting week, the biggest jump in four months. Reserves had risen by $5.16 billion in the prior week. The Reserve Bank of India (RBI) intervenes in the foreign exchange market to curb excess volatility in the rupee. Changes in foreign currency assets are caused by the RBI&#...
India`s foreign exchange reserves hit record high
India`s foreign exchange reserves hit record high
Source: Reuters
2024-07-19 06:05:15 pm
Gold set for third quarterly gain; traders await US inflation data Gold prices eased on Friday, but were set for a third straight quarterly rise, while investors look forward to U.S. inflation data due later in the day for more clarity on the Federal Reserve's interest rate-cut timeline. Spot gold was down 0.3% at $2,321.18 per ounce, as of 0354 GMT. Prices have gained about 4% for the quarter. U.S. gold futures fell 0.2% to $2,331.90. "Gold is up on the quarter, largely as the scope for monetary easing in the U.S. has increased ... China a...
Gold set for third quarterly gain; traders await US inflation data
Gold set for third quarterly gain; traders await US inflation data
Source: Reuters
2024-06-28 10:28:47 am
India`s gold demand to rise in 2024 despite subdued March quarter-WGC India's gold demand is expected to be subdued in the first quarter of 2024 due to lower jewellery sales, but annual demand is anticipated to rise as consumers adjust to higher prices, the World Gold Council (WGC) said on Wednesday. Higher purchases in the world's second-biggest gold consumer could support prices which are trading near record highs. Rising demand for imports could also widen India's trade deficit and put pressure on the rupee. India's gold demand has b...
India`s gold demand to rise in 2024 despite subdued March quarter-WGC
India`s gold demand to rise in 2024 despite subdued March quarter-WGC
Source: Reuter
2024-01-31 09:58:14 am
Elevated local prices dent retail demand in India Physical gold dealers in India offered discounts for a fourth consecutive week as consumers shied away from making purchases due to higher domestic prices, while top consumer China also saw muted demand. In India, this week, dealers offered a discount of up to $9 an ounce over official domestic prices — inclusive of the 15% import and 3% sales levies, up from last week's discount of $5. "The market was cruising along pretty nicely in the first half of October, but then th...
Elevated local prices dent retail demand in India
Elevated local prices dent retail demand in India
Source: Reuters
2023-11-03 05:08:48 pm
Gold softens on caution ahead Fed`s policy decision Gold prices started November lower on Wednesday as cautious investors awaited U.S. Federal Reserve's policy decision, after the Middle-East worries led to a strong safe-haven rally last month and pushed prices above $2,000. FUNDAMENTALS * Spot gold fell 0.2% to $1,979.71 per ounce by 0125 GMT and U.S. gold futures dropped 0.3% to $1,988.70. * Spot gold posted a 7.3% jump in October after prices accelerated over the $2,000 threshold last week from their lowest in seven months at $...
Gold softens on caution ahead Fed`s policy decision
Gold softens on caution ahead Fed`s policy decision
Source: Reuters
2023-11-01 09:09:31 am
Indian gold demand loses lustre in peak festive season as prices rally Gold prices near record highs could dampen demand in India during the peak festival season and lead to the lowest purchase volumes in three years, the World Gold Council (WGC) said on Tuesday. India is the world's second-largest gold consumer, and a drop in purchases could limit a rally in global prices. Falling demand for gold imports could also help narrow India's trade deficit and support the rupee. Higher prices in the December quarter, which traditionally sees the highest s...
Indian gold demand loses lustre in peak festive season as prices rally
Indian gold demand loses lustre in peak festive season as prices rally
Source: Reuters
2023-10-31 11:44:49 am