Key Points
HYDERABAD: A week after it vaulted over the $2,200/oz mark in international markets for the first time, gold touched yet another life-high of $2,236 in the wee hours of Friday..
Though MCX remained closed on account of Good Friday, prices of 24k gold were quoting above Rs 70,000 per 10gm (including import duty & GST) in the local market..
With the yellow metal closing at an all-time high of $2,233, Indian Bullion and Jewellers Association national secretary Surendra Mehta said it may well open $30-40 higher on Monday.. . "Gold has gone off the charts..
Once that happens, it will only go up higher," said Mehta, pointing out that the latest jump could be attributed to heavy buying by China in addition to buying by central banks of other countries...
Avinash Gupta, former director of All India Gems & Jewellery Domestic Council, said prices are moving on technicals only as there is no change in fundamentals except for increased buying by central banks..
You might be interested in
Dhanteras demand boosts auto, gold sales, brings cheer for companies
11, Nov, 23India Business News: Despite the recent spike in gold prices, the festive period of Dhanteras saw strong footfalls in key consumer segments such as gold and silver, cars a
Gold spikes on US jobless claims on Thursday; exit all long positions below 59,000
09, Jun, 23As the US jobless claims hit a two-year high, gold prices soared. Demand from central banks continued to remain high. however demand in India fell last quarter.
MCX gold at all-time highs, difficult to predict future levels, still not overbought; dollar to lose value
05, May, 23MCX gold is trading at an all-time high, making it difficult to predict the next levels. There is further room on the upside as it is still not in the overbought zone.
At Rs 62,000, gold at a new high
30, Nov, 23India Business News: Two days after the price of gold scaled a six-month high in the international market, the yellow metal went past the Rs 62,000/10gm mark in India. For
India’s latest tariff cuts chime with its PLI market defiance
01, Feb, 24An import duty cut from 15% to 10% on mobile phone inputs is part of a ‘Make in India’ incentive experiment that defies the primacy of market-led resource allocation. Are all the right bets being placed by the new central planners of this era?
Import substitution can set climate action back
29, Mar, 23Indian incentives for locally made solar panels have many takers, sure, but we must focus on our aim of an energy transition. Self-reliance behind raised tariff barriers could prove costly
Gold rallies Rs 940 to record high of Rs 62,020; silver zooms Rs 660
04, May, 23India Business News: NEW DELHI: Gold prices rallied Rs 940 to a lifetime high of Rs 62,020 per 10 grams in the national capital on Thursday amid strong global trends, acco.
Good Friday bank holiday 2024: Are banks closed today?
29, Mar, 24Good Friday bank holiday: The RBI has categorised these holidays under the Negotiable Instruments Act, Real-Time Gross Settlement Holidays, and Banks' Closing of Accounts. Find out in which states banks are closed for Good Friday on March 29.
Gold hits a new record, best month in over 3 yrs
30, Mar, 24India Business News: HYDERABAD: A week after it vaulted over the $2,200/oz mark in international markets for the first time, gold touched yet another life-high of $2,236 i.
Gold extends decline for 9th day as fears of higher US rates weigh
06, Oct, 23By Ashitha Shivaprasad (Reuters) - Gold prices edged lower for a ninth straight session on Thursday, as U.S. data indicating tight labor market conditions raised worries about Federal Reserve keeping