Search Result for : Gold Prices

The Dollar Business Bureau India’s gold imports are expected to surge by a third this year to 750 tonnes on account of restocking by jewellers and a good rainfall during the monsoon is likely to augment demand in the rural areas in the upcoming festival season, an official of a leading gold refinery said. Higher imports by India will support the global gold prices, which are already hovering near the peak level in the last two months. The increased imports could also widen the trade deficit of the country. “Demand and imports are normalising after taking a hit last year. Jewellers are restocking after destocking last year,” Rajesh Khosla, Managing Director, MMTC-PAMP India, India’s biggest gold refinery, told Reuters. India, the world’s second largest consumer of gold, imported around 557 tonnes of gold last ...

The Dollar Business Bureau  After dropping to a 7-week low previously in the trading session, gold moved up marginally on Monday on bargain-hunting and the euro strengthened against the dollar after Emmanuel Macron won France’s presidential election. Spot gold increased 0.3% to $1,230.88 an ounce at 0401 GMT, after reaching $1,224.86 per ounce earlier in the trading session, the lowest since March 17. Gold futures at US exchanges also rose 0.3% at $1,230.60 per ounce. On Monday, the euro touched a high of six months against dollar after Macron, a pro-European Union candidate, won the presidential election in France, defeating the far-right nationalist, Marine Le Pen, who threatened to pull out the country from the EU. “Leading into the election, with many polls predicting Macron's ...

The Dollar Business Bureau The Indian gold imports witnessed a decline of about 24% and stood at $23.22 billion in the period April-February of 2016-17, which is likely to keep in control the current account deficit (CAD). In the corresponding period of fiscal 2015-16, total imports of the yellow metal were $30.71 billion. As per industry experts, easing of gold prices in the domestic as well as global markets can be the reason for contraction in imports. The shrinking of imports helped in decreasing the trade deficit, which stood at $95.2 billion during the April-February period of 2016-17 compared to $114.3 billion in the corresponding period of previous fiscal. However, gold imports on month-on-month basis, surged to $3.48 ...

PTI Taking comfort from firm global developments and increased buying by jewellers at the domestic market, gold rose for the second straight day by surging Rs 220 to Rs 31,250 per 10 grams today. Silver bounced by Rs 470 to Rs 47,820 per kg backed by increased demand from coin makers and other consuming industries. Marketmen said that besides a firming trend overseas, more buying activity by jewellers to meet retailer demand at domestic spot markets mainly kept the precious metals higher. Globally, gold rose 0.11 per cent to USD 1,364.30 an ounce and silver by 0.07 per cent to USD 20.58 an ounce in Singapore today. In the national capital, gold of 99.9 per cent and 99.5 per cent purity surged Rs 220 each to ...

Source: PTI Gold continued to head downhill to trade at a 2-week low of Rs.30,550 per 10 grams by plunging Rs.200 on Monday, in sync with a weak global market. Demand from jewellers at the domestic market remained soft, which kept the prices lower. Silver declined Rs.240 at Rs.46,260 per kg due to reduced off-take by industrial units and coin makers. Overseas, gold turned weaker after data on Friday showed the US economy gaining traction, raising bets that the Federal Reserve may increase interest rates this year. This diminished its demand as a safe haven, which weighed on sentiment here, traders said. Globally, gold traded 1% lower at $1,323.83 an ounce in Singapore. In the national ...

The Dollar Business Bureau Global gold prices declined on Thursday after rising almost 1% during the previous session, as the effect of Brexit began to fade with most of the global markets heading towards normalisation. Spot gold had fallen by 0.3% to $1,314.30 per ounce. On Wednesday, gold prices raised for three out of four sessions. US gold was down 0.7% at $1,317.40. Silver climbed about 3% to reach a 1-1/2 year high on Wednesday, but was nearly flat at $18.27 per ounce. Asian stock markets went up on Thursday, while the dollar remained near a 3.1/2 month high against other global currencies. Several global analysts said the market has moved away from the Brexit saga, as there have been no more shocks in the global market ...

PTI Gold prices ticked up by Rs 25 to Rs 30,125 per 10 grams in the bullion market today on scattered buying by jewellers driven by the ongoing wedding season amid firm global cues. However, silver eased Rs 60 to Rs 41,040 per kg on lack of buying support from industrial units and coin makers. Traders said buying by jewellers to meet ongoing wedding season demand and a rising trend in the global market mainly led to the rise in gold prices. Globally, gold rose 0.16 per cent to $1,279.70 an ounce in London. In the national capital, gold of 99.9 per cent and 99.5 per cent purity inched up by Rs 25 each to Rs 30,125 and Rs 29,975 per 10 ...

Source: PTI Gold prices surged by Rs.180 to Rs.29,430 per ten grams at the bullion market on Saturday, tracking a firm global trend and pick up in buying by jewellers and retailers amid wedding season demand. Silver prices also edged up by Rs.50 to Rs.38,700 per kg on higher demand from industrial units and coin makers. Traders said that besides firming trend in bullion rates overseas, there was rise in demand by jewellers and retailers in the domestic market largely on account of weddings. Globally, gold rose 0.7 per cent to $1,234.60 an ounce in New York in Friday's trade as disappointing US economic data revived safe-haven demand. In the national capital, gold of 99.9 and 99.5 per cent purity strengthened by Rs.180 ...