Gold
Gold Prices Surge to Three-Week High
As of Wednesday, the international market recorded a gold price of $2,000.38 per ounce, while US gold futures remained steady at $2,002.40.
Global gold demand plunges, India bucks trend with double digit growth
India, the world's second-largest gold-consuming nation next to China, bucked the trend to clock a double digit growth of 10 per cent in purchases of the yellow metal to 210.2 tonne in Q3 compared to 191.7 tonnes in the same period last year.
Gold prices soar ahead of festive, wedding season
The sharp increase in the price of the yellow metal comes ahead of the auspicious Dhanteras occasion for buying gold on November 10, as well as the approaching festive and wedding season when the demand for jewellery shoots up.
RBI fixes price for premature redemption of Sovereign Gold Bonds
The price is based on the simple average of closing gold price of 999 purity of previous three business days from the date of redemption as published by the India Bullion and Jewellers Association Ltd (IBJA).
Hawkish stance of US Fed likely to keep gold prices muted
Gold is currently trading at $1,960, and has been fluctuating in the range of $1,880-$1,960 during the last one month
Gold prices near two-week highs
The US 10 year Yield after dropping by more than 2 per cent in the earlier session is inching higher once again, Dollar index also continues inch higher hovering around 10 week-high above 104 mark, he said.
Geopolitical uncertainty offers support to gold prices
Hopes of a demand recovery from India may also contribute to the trend. However, it is unlikely for major rallies due to uncertainties over US rate hikes and the performance of US assets, he said.
Gold prices expected to remain steady amid weakness in rupee, onset of festive season
However, the trajectory could swiftly change. The moment the US Federal Reserve hints at a potential pause in its rate hikes or even the possibility of an interest rate cut, gold prices are likely to surge, the analyst said.
Gold gained on Fitch downgrade US credit rating
Be that as it may, a policy rate cut by the US Federal Reserve combined with higher-than-average inflation will result in a structural up move in gold prices, said Quantum Asset Management Company (AMC).
Dollar, gold can strengthen as investors shift assets towards safe havens
Fitch Rating downgraded its US debt rating to AA+ from AAA. The Rating downgrade reflects the expected fiscal deterioration over the next three years, a high and growing government debt burden, and erosion of governance. Treasury Secretary Janet Yellen quickly responded to the downgrade, calling it “arbitrary” and “outdated.”
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