Gold’s remarkable rally shows no signs of slowing as the festive season approaches, with many analysts expected the prices to hit Rs 1.3 lakh per 10 grams this festive season. Rising global economic uncertainty, steady central bank purchases and expectations of interest rate cuts are driving the demand. If the trend continues, gold could climb…
Mumbai: Retail investors are piling into Sovereign Gold Bonds (SGBs)-a popular government-issued debt instrument denominated in gold-in the secondary market, driving up prices far above gold’s record levels. Last week, individuals paid premiums of up to 32% over the metal’s spot price amid the sharp run-up in prices, triggering the buying frenzy. In the event…
Gold touched a new lifetime high on Wednesday, October 8, crossing the $4,000 per ounce mark in global trade for the first time. The rally came on the back of rising uncertainty in world markets and growing bets that the US Federal Reserve could begin cutting interest rates before the end of the year. In…
China sought to ease licensing rules for gold imports and exports, as the world’s largest consumer of the precious metal continues to diversify its reserves away from US dollars. The country plans to expand the use of “multi-use permits,” a faster approval system, by increasing the number of ports that can accept them, according to…
Gold edged up on Thursday, as softer-than-expected U.S. producer price index (PPI) data reinforced already strong expectations for a Federal Reserve interest rate cut next week, while investors awaited key consumer inflation data for further cues. FUNDAMENTALS * Spot gold was up 0.1% at $3,645.04 per ounce, as of 0044 GMT. Bullion hit a record…
Sept 8 – Gold prices held firm near an all-time high on Monday, inching closer to a key $3,600 level, bolstered by mounting expectations of a U.S. Federal Reserve rate cut this month following a weaker-than-expected jobs report last week. FUNDAMENTALS * Spot gold was up 0.1% at $3,588.48 per ounce, as of 0037 GMT….