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MCX Silver Thursday trading range pegged at 61800-62800
“Instant support for silver looks to be at 61800 and resistance at 63100.” said Amrita Mashar, Manager-Research, Commodity Online. Silver on the MCX is expected to trade in range of 61800-62800 for today’s trading session. Silver has been weighed down by gains in U.S. dollar after data showed new U.S. home sales held near two-year […]
China to surpass India in Gold consumption this year: Deutsche Bank
Mainland China is poised to overtake India as the world’s largest consumer of gold, said Deutsche Bank in a special report. Asian demand in particular has grown dramatically, where China is expected to become the world’s largest buyer of gold as soon as this year, the German bank added. “We would argue that China’s long-term […]
India Silver could trade in Rs 58,000 to 78,000 range till Diwali
Precious metals have climbed recently on stimulus measures which could create an inflationary impact thereby increasing the safe haven appeal of gold and silver. Bullions were mainly benefited by the various economic stimulus actions taken by central banks globally. Following the US and the Central Bank, the Bank of Japan too enlarged the size of […]
Indian gold importers retreat as prices recover
Gold importers in India retreated on Tuesday after booking deals as prices recovered partially from their lowest level in two weeks. The most-active gold for October delivery on the Multi Commodity Exchange (MCX) was 0.21 percent higher at 31,500 rupees per 10 grams, recovering from the previous session’s 31,272 rupees, a two-week low. “There are […]
Gold demand improves as strong rupee knocks prices
Gold demand in India, the world’s top consumer, rose on Monday after prices fell to their lowest level in more than two weeks following a drop in the world market and on a strong rupee, luring jewellers replenishing inventory for festivals. The most-traded gold contract for October delivery was down 0.58 percent at 31,324 rupees […]
Govt reduces import duty on Gold Findings from 10% to 4%
The import duty on gold findings has been increasing over the last two years. In the Union Budget for the year 2010-11, first, it was increased from Rs. 500/10 gms to Rs. 750/10gms. The Gem and Jewellery Export Promotion Council (GJEPC) welcomes the pragmatic step taken by the Government of India in reducing the customs […]
Gold down in India on rupee appreciation, up overseas
Gold price fell 0.28% in early Friday futures trade on the Multi Commodity Exchange (MCX) due to an appreciation in the Indian rupee. The yellow metal for near month delivery on the MCX plunged to trade at Rs 31,823 per 10 grams. In London spot market, however, gold gained $5.17 to $17,72.78 an oz early […]
Gold hits fresh high of Rs 32,590
Buoyed by demand for the wedding season, gold prices on Thursday climbed to fresh record high of Rs 32,590 per 10 grams in the bullion market. Silver, however, lost Rs 300 ($5.4) to Rs 61,200 per kg on limited demand at prevailing higher levels. Traders said gold prices surpassed all previous records to a new […]
Hong Kong show may help diamond industry regain shine
Reeling under ‘self-made’ liquidity crisis and falling prices of polished gems, diamond industry in Surat is now hoping that the upcoming Hong Kong Jewellery and Gem Fair will help them script a turnaround story. The fair to be held from September 19 to September 23 is world’s biggest gems and jewellery event with over 3,300 […]
Gold guns for the golden milestone as uncertain markets make banks invest in commodity
Gold prices surged to an all-time high of Rs 31,980 per 10 grammes (gm) here on Wednesday on the back of continued buying by stockists for the approaching marriage and festival seasons and investors preferring the precious metal to uncertain equities. Leading Mumbai-based bullion trader Ketan Shroff told Mail Today that banks and hedge funds […]
