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  • Gold Related News/Updates

    • Gold Prices Ease In India As The Dollar Gains Strength

      The price of spot gold in India came down by about 0.2% to about $1,316.90 per ounce. This easing in the price has been attributed to the improved performance seen in the equity markets and the fact that the US dollar has risen by about 1.2%. Even though the price of spot gold came down, the price of gold bullion rose by 0.4%. While the drop in price of spot gold was just 0.2% in India, the price fell by 0.3% in the US and came to rest at $1,317.20 per ounce. While the prices inch lower, investors are waiting for announcements by the US Federal Reserve that is expected to keep their interest rates unchanged, as opposed to earlier expectations of an increase in the rate.

      28th July 2016

    • Low Demand for Jewellery Due to Volatility

      Demand for gold jewellery looks set to be low for the immediate future due to fluctuations in price. The sudden increase in the price of gold has resulted in demand falling, but there is a possibility that demand will rise in the medium term.

      The gold demand forecast for 2016 has been revised downward by ICRA after the price rise, which led to reduced demand.

      However, it stated that the rural economy could boost gold demand, which could bode well for the yellow metal.

      With the level of uncertainty in the economy still high due to Brexit and other financial crises, gold prices shot up as the metal was seen as a safe haven by investors.

      Gold prices fell after a period of steady gains, trading at Rs.31,000 per 10 grams on July 19th, 2016.

      Traditionally, a price hike results in lowered demand, though occasionally demand continues to be high as consumers buy anticipating the price would rise further at a later date.

      21st July 2016

    • Gold Imports Decreased by 48 percent in April-May

      Gold imports decreased by around 48% in the current fiscal first quarter which might keep a lid on the account deficit currently. The decreasing prices of gold in domestic as well as global markets are seen to be a factor that is contributing to the plunge. Imports contraction urged narrow trade deficit to touch $8.11 billion the previous month and India is one of the largest gold importers in the world and does so mainly to take care of all demand.

      CAD in India reduced to 1.3% of GDP in the third quarter as compared to the previous year. A fourth tranche of sovereign gold bond scheme was announced by the government so as to check demand for physical gold. Silver imports reduced as well along with shipments of precious, semi-precious stones and pearls.

      20th July 2016

    • Monetary Stimulus Expectations Help in Gold Recovery

      Gold prices increased this week as they started recovering from the lowest in almost two weeks. As a results, prospects for further economic stimulus aided in strengthening investor appetite but the dollar was flat. Gold and equities are both favoured by accommodative monetary policies as low interest rates urge investors to go for assets that have no need to depend on interest yields.

      The value of spot gold rose by 0.7% to $1,390.90 per ounce, making it the lowest recorded rate since the 1st of July. The value of bullion declined by 1.7% on Tuesday, making it the biggest drop in a single day since the 24th of May. The value of US gold was up 0.5% to $1,341.50.

      19th July 2016

    • Gold Prices in Dubai May Increase This Week

      Rates of gold has seen a steady increase due to Brexit with it trading at almost 2% higher than the previous week. Majority of experts and investors in the market have expected the price of bullion to increase this week as shockwaves from Britain’s decision to leave the European Union is yet to settle completely.

      According to the most recent Kitco gold survey among traders, analysts and market professionals, around 73% of Wall Street respondents are bullish about the performance of gold during the week. However, there is still some anxiety amongst investors and are wary regarding steps that will be taken by the Central Bank. As of morning 10.30 am in Dubai, the price of gold was Dh162.50 per gram of 24 karat gold.

      According to the Head of Commodity Strategy at Saxo Bank, Ole Hansen, there has been a continuous demand for gold from investors and also an increasing demand for gold futures.

      14th July 2016

    • What Is Up With Yamana Gold?

      Yamana, the Canadian gold manufacturer, has been seeing good times since the prices of gold started rising. There are a lot of things in the global markets, that are going the company’s way right now. The first is the fact that the rally to gold, caused by Britain’s decision to exit the EU, has resulted in the price of gold rising to above $1,300 per troy ounce. There is also an expectation that as a result of the poor job data in the US, the Fed might not increase the interest rates too much, which would further bolster gold, thereby improving the company’s position. In fact the odds right now say that the Fed might actually reduce the interest rates.

      7th July 2016

    • China’s Gold Imports Up By 68%

      While the amounts of gold being imported by the world's second largest consumer, India, have been declining, the gold being imported by China, the world's largest consumer, have gone up by 68%. These numbers mark the highest amount of imports in last 5 months and rose to 115 metric tonnes in May 2016. Even the import of gold bars by India rose by about 46% while the export of gold from Switzerland rose by 20%. The uncertainty created by the UK’s proposed exit from the EU has reduced the demand for physical gold but investors are still flocking to it as a safe haven investment. In India a discount of up to 2.5% is being offered on the price of gold in the global markets.

      5th July 2016

    • Gold Price In India Likely To Touch Rs 34,000 per 10 gm

      As Britain announced its decision to leave the European Union the price of gold started rising. Investors have turned to the precious metal as a safe haven investment and it is being predicted that the price might reach Rs 34,000 per 10 gm in India. The price is rising as a result of the safe haven investments and the fears of economic instability in the EU that could be caused by Britain exit. THe prices of gold have already gone up by as much as 8%, reaching their highest point in the last two years. Global cues that could drive gold even higher are the possibilities of the crisis in Greece becoming worse and banks in the EU and the UK changing monetary policies to help boost the economy. Even China’s debt levels are worrying investors enough to prompt them to gravitate towards gold. This means that in the coming months, the prices of gold in india could be touching Rs 34,000 for 10 grams. Globally, it is being expected that the price might go as high as $1,450, or more, per ounce.

      4th July 2016

    • Should The US Federal Reserve Cut Or Increase Its Interest Rates?

      Till such time as the Brexit vote was announced, the expectation in the gold markets was that the US Federal Reserve will be increasing its interest rates however, now that Britain has voted to leave the EU, Wall Street is of the opinion that the Fed will cut the interest rates rather than increasing them. The tone that had been set by the last two meeting of the Fed suggested that they were in favour of increasing the interest rates at least twice this year. Now, however, that possibility seems to have less than an 8% chance of happening. Investors are of the opinion that the possibility of economic declines, as a result of Britain leaving, could ensure that the Fed can’t raise the interest rates. The odds are now almost 20% in favour of the Fed actually cutting interest rates.

      4th July 2016

    • Gold Prices Become Shaky Because Of Cautious Investors

      The sentiment over investments in gold have been on the side of caution which is stemming from the anticipation over the US Federal Reserve's impending interest rate hikes. Even comments made by Federal Reserve Chair Janet Yellen were perceived as being reserved. Her assessment of the US economy was a positive one and it did help the prices of gold come up a bit earlier in the day, however they ended up slipping a little later. This caution has driven the price of gold futures for august to $ 1,237 per ounce, which was a drop of about 0.35%. However, it is believed that this caution in investment is only temporary and that investors will return to bigger investments in gold soon.

      29th June 2016

    • Gold holds steady near a two week high

      Gold held steady close to a two week high early on Wednesday. Spot gold stood at $1,243.70 an ounce and had reached a two week high of $1,248 an ounce on Monday. The prospect of an early U.S. interest rate hike dimming after comments by the U.S. Federal Reserve chair Janet Yellen this week helped gold hold steady. As a result of low commodity prices, sluggish demand in advanced economies and weak trade, U.S. gold was down by 0.1% at $1,246 an ounce.

      28th June 2016

    • Gold Prices will not Decline Under $1,200 per Troy Ounce for too Long

      Commerzbank recently released a report according to which gold prices have the short-term potential to decline below $1,200 per troy ounce. The reason for the anticipated drop in prices is attributed to speculation regarding an increase in Fed rates as well as high level of speculative interest. However, the price is not anticipated to decline for a long time under this benchmark as the price level is expected to be viewed as an interesting opportunity for investors who are looking to add to their portfolio.

      23rd June 2016

    • Gold price declines in Asia

      Gold price witnessed a decline in Asia with sentiment downbeat on a prospective rate hike by the U.S. Federal Reserve this summer. Gold eased down by 0.36% to $1,212.05 an ounce for June delivery on Comex Division of the New York Mercantile Exchange. Silver futures for July delivery also dropped down by 1.35% to $16.050 a troy ounce. However Copper managed to rise up by 0.19% to $2.099 a pound.

      15th June 2016

    • Interest Rate Rise Expectation Drive Gold Lower

      The possibility of an interest rate hike by the US Fed has led to a drop in gold prices, with rates plunging for the third straight day on 23rd May 2016. The spot gold rate was $1, 250.60 for an ounce, a $1.40 decrease from the previous day.

      Analysts have predicted gold will remain low and under pressure this week, as markets slowly adjust to the possibility of a rate hike sooner rather than later.

      Gold prices are expected to settle between $ 1,270 and $ 1, 280 for an ounce throughout the week, with silver prices also down. Silver is selling at $ 16.360 for an ounce, down by 16 cents.

      Market watchers have predicted an interest rate hike by June, with as many as 26% predicting it will happen by the next month.

      7th June 2016

    • Higher US Interest rates Shouldn’t Deter Gold

      The impending increase in interest rates planned by the US Fed need not affect the gold prices, which has seen its value fall for three days in a row. Many believe that a higher interest rate would spell doom for the gold price as it would mean a strengthening of the Dollar and raise the opportunity cost associated with holding the metal.

      However, given that gold and silver rates rallied in spite of a Fed interest rate hike in December means it could not be all bad for the yellow metal.

      Once safe haven flows of the metal stabilised, the rate steadied and gold rallied thanks to interest in inflation hedge bets as well as a weakened Dollar.

      If the Dollar and wage pressures continue, there is a chance that gold will recover, whether or not the Fed increases the rates.

      A number of hedge funds and banks are also putting their faith into gold prices rising.

      1st June 2016

    • Asian market Gold update

      According to a statement made by Citibank officials, one can expect gold to fall below $1000 this year. Some reports state that many non traditional investors including Soros have invested in Gold this year. Now, investors are in a rut. Gold prices might continue to fall if Federal Reserve decides to raise interest rates every alternate month of this year. Gold will only rise on days American interest rate factor takes a back seat. There is also the talk that Federal Reserve will not raise interest rate that much considering it's an election year. Gold can fall to $1234 and $1209 as long as it trades below $1260.

      31st May 2016

    • Gold price dips to a three and a half week low

      Gold dipped to trade near a three and half week low on Tuesday. This was due to the pressure in the hope that the U.S. Federal Reserve will hike the interest rates sooner than later. In a statement released after the Fed meeting last week, it was indicated that there might be an early rate hike and a strengthening dollar has resulted in the bullion being pushed down by 3.6% in May, so far its biggest monthly decline since November. Spot gold fell 0.3 percent to $1,244.71 per ounce.

      27th May 2016

    • Strong Investments Might Push The Price Of Gold Up

      Over the last two weeks, the price of spot gold has come down by 1.56% and the price of gold on the MCX came down by 0.77% bringing the price to Rs. 30,034 for 10 grams. The chief of the Federal Reserves in Atlanta and San Francisco have said that the possibility of a hike in the interest rate in June has not been ruled out yet. In spite of all this, a surge of investments in ETFs backed by gold have started driving the demand for gold around the world to about 1,290 tonnes. The World Gold Council has said that the demand is going up even though the demand for gold jewellery has gone down by about 20%.

      26th May 2016

    • Experts Say The Only Direction Gold Can Go In Now Is Up

      Since the beginning of this year, the prices of gold have been on the rise. They have gained as much as 20% in the last 5 months and now they are predicted to go even higher. Data released by the US shows that the economy is improving slowing. This means that the Federal Reserve might consider another hike in its interest rates. Indications of this are facts like Atlanta raising its estimated GDP growth from 2.2% to 2.8%. Investment houses are speculating that gold may come to a price of $1050 per ounce. Experts are however concerned about the health of the US economy, which remain fragile, and have said that it could be the reason why the Fed might show caution in raising interest rates. In the beginning of the year, the odds that the Fed would raise the interest rates in july were 79% but now they seem to have come down to 36% only. Markets experts do expect gold to continue rising but have cautioned traders that there may be a period of fluctuation which they will have to go through before further rises in the rates become apparent.

      24th May 2016

    • Gold Prices in Asia Rise but US Federal Reserve Interest Rates Remain Eagerly Awaited

      The price of gold in Asia has risen by about 0.3% while investors remain cautious ahead of the upcoming G7 meeting to be held in Tokyo. The price of gold futures for June rose by 0.33% to US $1,279.65 per troy ounce while the price of silver futures for July rose to $17.44 per troy ounce, a jump of 0.7%. This rise has brought the increase in prices of gold to about 20% as compared to the prices that were prevalent in the beginning of the year. Even the Brexit vote is expected to have an expected effect of the upcoming announcement of the interest rates by the US Federal Reserve.

      24th May 2016

    • Gold Futures Rise As The Dollar Falls

      The prices of gold futures have risen in the wake of the decline that the US Dollar is seeing. The Dollar has slipped almost 0.5% in comparison to some other currencies, which has led to the a rise in the price of gold futures due in June. The rise seen in the prices of gold futures was as much as 0.9% to about US $1,275.50 per ounce, which is a rise of about USD 10. The price of silver futures also rose to about $17.32 per ounce, translating into an increase of about 22 cents or 1.3%. While there is speculation over the Fed rates in the US, the atmosphere in Europe is also quite negative as a result of Greece’s economic troubles and the interest rates are also negative. In spite of all this, the demand for gold is still healthy.

      23rd May 2016

    • Analysts Say The Price Of Gold Will Continue To Rise

      Analysts of ETF Securities has said that the price of gold may continue to rise. This declaration is based on the study of various factors, including an observation that whenever the US Federal Reserve has not raised the interest rate at the frequence expected, the price of gold has risen. Such a scenario exists even now as one of the factors affecting the price of gold has been the fact that the Federal Reserve is not raising the interest rates just yet. It is expected to happen a little later in the year. The reason these interest rates matter to gold is that gold competes with the US dollar as a safe haven investment so whenever the dollar weakens, gold rises.

      20th May 2016

    • Gold Prices Rise As Dollar Weakens

      The price of gold is on the rise according to COMEX. The gold meant for delivery in june has already reached a price of US$1,278.60 per ounce which is an increase of 1.08%. Even the shares of Kinross Gold have gone up by 3.17%. This rise in the price of gold has been attributed to two main factors, the first being a weakening of the dollar and the second being the fact that the Federal Reserve has not yet announced any further hikes in the interest rates. Another factor that has contributed to this rise is that Goldman Sachs raised their predicted price for the next 3 months by US$100 to US$1,200.

      19th May 2016

    • Goldman Sachs Increases Gold Price Expectations

      Goldman Sachs recently increased its gold price forecasts for the months to come, revealing that the net speculative positioning was now stronger in addition to a weaker US dollar. The three-, six- and 12-month price forecasts for gold were revised by the renowned financial institution, raising prices respectively to $1200, $1180 and $1150 per ounce from $1100, $1050 and $1000 per ounce in a forecast made earlier. A statement released by the bank also revealed that although the growth in gold can be expected, it will be limited and further increases do not have too much scope.

      18th May 2016

    • Gold Prices Fall In Wake Of The US Job Data Release

      The dollar is holding firm and the data released by the US Job market shows that there is an improvement in the growth of wages which has helped offset the weak payroll that was reported earlier. However, the announcement also showed the least number of new jobs added in the preceding 7 months. Many citizens have also come out of the country's labour force which has led to a belief that there is a weakness in the US economy. This data has helped affirm the belief that at least two more rate changes can be expected this year. In the wake of this announcement US gold settled at US $1,287.70 per ounce; a drop of about half a percent. Spot gold also came down to a price of US$ 1,285.16 per ounce, a drop of 0.03%. Even the consumption data for China is expected to show moderation in comparison to March.

      12th May 2016

    • Gold Prices rise in Asia as Investors wait for China Manufacturing Data

      Gold Prices climbed up in Asia on 2nd May as investors waited for a private estimate of China manufacturing data. On the Comex division of New York Mercantile Exchange, gold for June delivery increased by 0.45 per cent to $ 1, 296.15 a troy ounce. Also, May delivery silver futures gained 0.12 per cent to hit $ 17.810 a troy ounce. Last week, gold prices saw a steep increase as it rose to a 15 month peak amidst Federal Reserve interest rate speculations and a weak US Dollar rates.

      11th May 2016

    • Gold Rates Volatile amidst Rate Hike Possibility in June

      Gold prices on Thursday fell as the US Fed kept the possibility open for rate hike in June while keeping rates unchanged for the time being. Spot gold was trading lower by 0.1% at $1,244.50 an ounce though gold has gained an overall 1% in the last three sessions. The Fed acknowledge slow growth in the US economy even while the labour market was improving. Inflation and global economic movements are also being considered by the Fed in the lead up to June’s review meeting.

      10th May 2016

    • In UAE, Gold Prices steadies after seeing a slight decline

      After dropping by 1% to $1,233.54, spot gold rates saw an increase as the dollar rallied. However, caution ahead of BOJ and FED meeting in coming weeks arrested its advance. Even though the Fed is not expected to make any changes to the interest rates, markets will be looking forward to US Central Bank’s take on monetary policy and global economy. Higher rates would spell lower demand for non - interest - paying gold. In a hope that the Fed might not be able to increase rate this year owing to concerns over global economy and Chinese markets, gold has gained over 16 per cent this year.

      9th May 2016

    • In Bangladesh, Gold Prices rise for the 5th time in 2016

      Gold prices have steered up by Tk 1,225 a bhori due to an increase in the bullion prices in international market. Silver prices have also gone up by Tk 58 a bhori. The updated prices were announced by Bangladesh Jewellers Association (BAJUS). After the hike, a bhori of 22 carat gold will be Tk 47, 417 instead of Tk 46, 190. Traditional gold will cost Rk 27. 586 instead of Tk 26, 361. Prices of 21 carat and 18 carat gold also shot to Rk 45, 315 and Tk 38, 667 from Tk 44, 090 and Tk 37, 442 respectively. Gold prices were hovering around $ 1,200 an ounce following a hike in March. Now, gold prices in Bangladesh has reached $ 1, 300 an ounce.

      6th May 2016

    • Gold, Platinum and Silver making Significant Gains

      Precious metals like platinum, gold and silver are trading in positive area as the dollar abated giving gold bulls a slot to increase the bullion prices. In Asia, gold is trading at $1240.50 at an additional 30 cents. Silver, which was trading at $17.065, added another 56 points to remain at the top of its range outperforming its counterpart. Experts are quoting that gold prices are in the corrective phase currently after recent gains. Gold rates have increased by about 16% this year on as hypothesis that Fed might be unable to raise rates owing to concerns over global market volatility and concerns over Chinese economy.

      6th May 2016

    • Strong dollar hits gold rates

      The weekend had a slight impact on gold rates, with prices improving marginally since Friday. Gold traded at $1,231.20 per ounce on the back of an improved performance by the US dollar. Investors have been wary of investing in gold, waiting for the outcome of a two day policy meet of the US Central Bank. Demand in India was also hit due to high prices, with buyers choosing to wait for rates to fall.

      3rd May 2016

    • Impending Federal Reserve meeting impacts gold rates

      A slight improvement in gold rates did little to woo investors, with most of them waiting for the outcome of the Federal Reserve Policy meeting before rushing into gold. Gold prices went up marginally, with spot gold trading at $1,233.60 an ounce, an increase of 0.1%. Experts are of the opinion that the outcome of the Fed meeting could see gold rates drop, which, combined with a strong dollar could make gold more affordable to the masses.

      2nd May 2016

    • MCX gold to rally in coming weeks

      The gold futures contract on the Multi Commodity Exchange (MCX) moved higher at Rs.29,160 on Monday above the resistance at Rs.29,000. According to analysts, traders who have a short-term horizon may buy the contract which can test medium-term resistance at Rs.30,000 in the weeks to come and may rise to Rs.31,000.

      28th April 2016

    • Gold prices dip in Asia

      The price of Gold in Asia plummeted on Tuesday ahead of Federal Reserve’s upcoming review of interest rates. The Federal Open Market Committee's (FOMC) is expected to meet on April 26.

      Gold futures for June delivery dropped by 0.40% to $1,230.00 on the New York Mercantile Exchange. Similarly, Silver futures for May delivery dropped by 0.036% to $16.195 (per ounce).

      According to reports, notwithstanding the recent dip, the price of the precious yellow metal has increased by 16% since January 2016.

      According to analysts, rate hikes may prove to be bearish for the yellow precious metal this year.

      27th April 2016

    • 2016 good year for gold and silver investors

      The year 2016 has been good for gold and silver investors, with these two commodities offering higher returns than traditional stocks. An increase of 16.18% for gold and 15.61% for silver has been witnessed since the start of this year, compared to a drop of 1.15% in Sensex shares in the same period. Gold rates have jumped from around Rs 25,300 in 2015 to Rs 29,500 for 10 grams in the first three months while silver has jumped by around Rs 5,000 to Rs 38,500 per kg in the same period. Market volatility in February hit the Sensex hard, making gold and silver more alluring to investors.

      26th April 2016

    • Performance of Gold COTs indicate inevitable fall

      The performance of recent gold COT’s has led to analysts believing that the US Dollar will make a strong rally in the near future rather than continue its current slump. The strong showing of PM stocks has been on the back of investors largely undervaluing them as compared to bullion, which could be deceptively setting them up for a fall. Commercial short and Large Spec long positions have risen to their highest positions in years, which tends to indicate an imminent rise in the the US Dollar, and a potential downfall for the precious metal after a significant upturn in fortunes since the start of the year.

      25th April 2016

    • Gold prices climb on soft US data

      Gold prices moved up on Monday following crude oil and equity sell-offs. Weak US economic data released on Friday also played its part in helping the precious metal stage a small rally. As oil producers failed to come to an agreement regarding an oil output freeze, spot gold rose by $1.60 to close at $1,235.80 per ounce, while trading oscillated between $1,233.50 and $1,239.70 on Monday. ANZ research stated that the standstill regarding a freeze on crude oil production should keep gold prices ticking over in the coming period.

      21st April 2016

    • In the face of rising dollar, gold slumps

      There had been losses on gold for a third session on Thursday as the yellow metal had registered a rate of 1233.71 dollars an ounce after falling a further 0.7 percent post the initial one percent drop on Wednesday.

      This made the metal that had gone on a three-week high of 1262.60 dollars an ounce due to the weakening of the US currency. The lowering of rate was effected due to hikes in fuel prices too.

      20th April 2016

    • Gold prices rise as oil producers fail to agree on output freeze

      Gold prices rose on Monday following the failure of oil producers to come to an agreement regarding the freezing of oil output. The failure of OPEC and non-OPEC producers to come to an agreement resulted in a drop in crude and equity prices, which in turn increased the demand for gold bullion as a safe haven for investors. Spot gold increased by 0.3 per cent to close at $1,237.60 per ounce while U.S gold futures rose by 0.4 per cent to close at $1,239.70. Although the Fed is not expected to raise U.S interest rates any time soon, at least two increases are anticipated over the course of the year.

      19th April 2016

    • Gold still a safe haven for investors

      As per analysts, the trend of rise of gold has not yet seen its heyday. The yellow metal is going to increase in its rates even further. Gold has gained 16% in the first quarter and projections indicate it is going to continue a mostly upward trend.

      Expectations regarding the US earnings are low as it is going to be the worst since 2008. That is going to amplify the buying and selling of the yellow metal even more.

      18th April 2016

    • Gold stays at 3-week high, dollar inches higher

      Gold had achieved a three week high on Tuesday and eased below the target a bit yesterday, but still retained its safe haven status as global economies remained uncertain and speculations were still on about a rate hike in the United States.

      Spot gold fell by 0.1% and came to rest at 1254.10 dollars an ounce on Wednesday. The three week high was at 1262 dollars an ounce.

      15th April 2016

    • Gold Gains a 3 week High

      In expectation that the US Federal Reserve will not be hiking the US interest rates any time soon, gold prices peaked at an all-time 3-week high on Tuesday. At the same time though, the US dollar traded at its lowest ever since the past eight months.

      While spot gold rose to 1259.66 dollars an ounce early on Tuesday, it came down by 0.2 percent and came to rest at 1254.70 dollars an ounce. That accounted for a 1.4% overnight gain for the yellow metal. US gold futures went up to 1261.90 dollars an ounce, also at a three week high.

      14th April 2016

    • Gold Stays Strong

      The yellow metal held on to its sharp gains on Wednesday as inconsistent global economic data and poorly performing equity markets sent investors towards the security and safety of the precious gold.

      Spot gold came down by a little to around USD 1228 an ounce but it still held on to most of its 1.3 percent gain. Bullion on the contrary rose, along with other safe haven assets like Japanese yen.

      13th April 2016

    • Gold Prices Remain High in Q1 despite Sceptical Investors

      Gold prices increased 17% during the first quarter of 2016 amid market uncertainty. Investors returned the gold market in search of a safe haven as the global economy slows. The rise in price of the precious metal began at the start of the year following China recording its slowest yearly growth in GDP since 1990. The economic concerns of China spread around the world, gradually making investors question the growth rate in the US. However, the biggest increase recorded in 30 years on the 31st of March played a crucial role in urging investors to return to the market.

      12th April 2016

    • Poor demand leads to drop in gold rates

      Gold rates which reached new quarterly heights in March have been on a decline in recent days, with lack of demand impacting prices. With Indian gold imports dropping by over 30% and the Chinese markets staying closed, gold rates dipped to around $1,220 per ounce. A strengthening US dollar also had an impact on rates, as gold headed to its lowest figures in a month.

      11th April 2016

    • Even Bulls Surprised by Gold’s Performance in First Quarter of 2016

      Gold has experienced its finest performance in a single quarter since 1986 as investors rushed toward a safe haven store of value owing to worldwide economic concerns. Bullion has shot up more than 20% from $1061.42 on the 1st of January 2016 to a little more than $1280 on the 11th of March, making it the highest price of the precious metal since the beginning of 2015. Levels have dropped since, however, to around $1230 in the past few days. Despite the fact that prices are recovering, the value of the yellow metal still remains below the historical highs of 2011 when the price of gold exceeded $1900.

      7th April 2016

    • Higher Gold Prices Expected by Angel Commodities

      Spot Gold Prices saw an increase by 0.61% and was trading at $1232 per ounce. This comes on the heels of retreating of the Dollar and the Stock Markets. With this, the precious metal saw its biggest quarterly gain yet in over 30 years. The MCX witnessed Gold prices increasing by 0.5% and closed at a strong Rs 28,459 per 10 grams

      The interest hikes set by the US Federal reserve saw gold prices dip by nearly 10% last year but the reduced possibility for the interest hikes have increased the appeal for the safe haven metal and intraday basis expects higher gold trading prices

      6th April 2016

    • Gold Prices to Increase

      Reports from market investors and analysts opine that gold might have an increase today even after the 0.61 percent hike that it underwent. Gold price came up to as much as 1232 dollars an ounce while the market fell. Comparing that to the state of the metal last year, gold had fallen by 10 percent in the US in December.

      In Mumbai Commodities Exchange, gold price rose by around 0.5% and came to rest at INR 28549 for 10 grams of the metal.

      5th April 2016

    • Stocks of Yamana Gold Increase with Increase in Gold Prices

      Yamana Gold saw their stocks increased by 1.04% and settle at $2.92 ahead of the US Federal Reserve Policy Speech by Chair of the Federal Reserve, Janet Yellen. This speech will be closely monitored for any mentions of interest hikes. Interest hikes will add to the pressure on gold as it cannot compete with assets that yield higher returns with the hikes in interest rates

      Even though the stocks gained, ‘The Street’ has a rating of sell on the stock due to multiple weaknesses that outweigh any of its strong points and lead to investors having a tough time in achieving positive results

      4th April 2016

    • Investors focus on Fed development

      Investors are fixated on the Fed related developments. The Fed members are in support of the raising interest in April of the economic conditions warrants it. The policy board is monitoring the global risks in reference to the instability growing in the Japanese and European markets. Majority of the market participants expect the next hike to be in July.

      1st April 2016

    • Gold retains price rate till Federal Reserve Decision

      On Wednesday, the rates of gold remained still while investors in the Asian market awaited decisions from the US Federal Reserve on the tax rate hikes. In the face of an already strong dollar, the future of gold still looks weak as gold futures stayed at near two-week lows.

      US Federal Reserve will not be changing rates as of now but investors wish to take cues from the monetary policy about the taxation that will affect the metal in the future. Spot gold had a rate of 1231.80 dollars an ounce and gold futures were at 1232.50 dollars announce.

      31st March 2016

    • Gold Rates Slip to a 4-week low

      With speculations on the rise about taxation on gold in the US Federal Reserve and underperforming Asian indices in the trade markets, gold rates have slipped down to a 4-week low on Thursday.

      The Chinese Yuan reference rate was set at 6.515 indicating a devaluation of 0.33% while Japan’s Nikkei 225 index traded at 0.14% lower and the Topic gauge slipped down by a comparatively higher margin of 0.57%.

      30th March 2016

    • Tirupati Temple to deposit Gold as per GMS

      The Tirumala Tirupati Devasthanam has been offered an interest rate of 1.75% by Punjab National Bank for depositing around 2.3 tonnes of gold for a three year period. Out of that amount 1.3 tonnes will be a direct investment from the trust and the remaining will be shifted from State Bank of India once the investments mature in March.

      The trust will also invest another 1.4 tonnes of gold of mixed variety with Indian Overseas Bank. The bank will be offering 1.25 percent interest on the gold for a three year deposit period under the Gold Monetisation Scheme. The bank will be taking the onus of purifying the gold and minting it, along with the transportation duty.

      The trust however wishes to redeem gold as maturity benefits instead of cash.

      29th March 2016

    • Gold prices fall on account of strong dollar

      Gold prices which were on a high for most of last week witnessed a drop in rates, primarily on account of a strong US dollar index. With market performance increasing, a number of investors have moved away from gold, cashing in on the strong results. Gold ETF shares were down by about 0.8% in USA, with experts optimistic that gold will rebound soon.

      28th March 2016

    • Spot gold rates hold on to their value

      International events which saw the dollar gaining strength helped gold prices stay steady, with the safe-haven appeal of gold helping it stay strong. There were no major changes in gold rates, with spot gold trading at $1,248.20 per ounce. The importance of gold was also seen in the export of gold from Venezuela to Switzerland, with Venezuela transferring $456 million worth of gold recently.

      24th March 2016

    • Third gold bond scheme gets poor Reception

      The third tranche of sovereign gold bond (SGB) scheme has received poor reception when considered against the second tranche, with only 64,000 applications intending to buy 1,128 kilograms of gold, which is worth Rs 329 crore. The third offering of the gold bond scheme designed is intended to demotivate buying of physical gold for investments closed for subscription on March 14.

      The second tranche had seen applications for 2,872 kg of gold worth Rs 747 crore. There were 3.16 lakh applications in the second edition. This may due to the current instability issues of gold as a fundable asset and gold markets all over the world.

      23rd March 2016

    • A weaker Dollar supports gold as the latter eases

      Spot Gold eased a little on Friday but a weaker dollar continued to lend strong support to the yellow metal. A weak dollar came as a result of American and European apex banks ensuring cheap capital for a longer time than anticipated earlier.

      Spot gold came to $ 1252.21 after falling by about 0.2 per cent. This is after spot gold finished on a slightly higher side last week. Market indicators are pointing towards rising inflation despite the slump the US economy is going through. A weak dollar stayed supportive of precious metals like platinum and silver too.

      21st March 2016

    • Sharp rise witnessed in gold rates

      A weakening US Dollar helped gold prices climb up, with both gold futures and scrap gold witnessing a surge in rates. While scrap gold had a value of $ 460.68 and $ 718.67 for an ounce of 9 carat and 14 carat gold respectively, 18 and 22 carat gold rates jumped to $ 921.27 and $ 1125.31 per ounce. Gold futures with an April delivery traded at $ 1,265 per ounce, up by $ 35.20.

      21st March 2016

    • Gold stores closed since 2nd March, weddings left without shine

      Since 2nd March 2016, all jewellery shops across the country have been closed. The Finance Minister Arun Jaitley’s proposal to increase the excise duty by 1% of gold and making it mandatory for buyers to provide their PAN card details at the time of purchasing jewellery of Rs. 2 lakh or above, has lead to the jewellers taking this steps. The Finance Minister has stuck is ground and not succumbed to the pressure, hopefully this will bring some degree of sanity to jewellery purchases.

      18th March 2016

    • Gold futures trading on MCX continues trading sideways

      The Multi Commodity Exchange (MCX) saw a gold futures contract trade on its platform last week which dropped around Rs.266 (0.9%) and closed at Rs.29,500 (per 10 grams).

      The gold futures contract on the MCX is continuing its month-long sideways trend ranging between Rs.28,500 and Rs.30,000, the latter being the cap because of resistance faced in this medium-term uptrend.

      The global spot price of gold also fell 0.9% and closed at $1,248 (per ounce).

      17th March 2016

    • Gold prices might retreat as US FED week begins

      Gold prices fell again near a one week low at $1246 an ounce in London trade monday after a $11 gain overnight in Asia just a few days ago. Gold retreated to 3% from $1261 to $1282 which was the highest in 14 months on Monday. Silver prices also suffered along with gold price at $15.50 which is same as the last week. Many customers of Tokyo banks are choosing to invest their money in gold rather than deposit it in the bank.

      16th March 2016

    • Gold Rate at its Possible Highest

      The European Central Bank reported that it stopped chopping off the interest rates and post the same announcement, gold rates started climbing up reaching a 13-month high since the last fall.

      While spot gold went to 1282.51 dollars an ounce, bullion went up by 1.5% since Thursday. Gold futures for April peaked at 1287.80 dollars an ounce. The next expected resistance for the yellow metal will be USD 1308 which was achieved in January 2015.

      15th March 2016

    • Gold rates on an upward swing

      After a day of losses, gold prices inched back towards the top, thanks primarily to a statement by the European Central Bank which indicated that there wouldn’t be a drop in interest rates. Gold scheduled for April delivery traded at $ 1,273.7 per ounce, up by 1.3%, with an increased demand for the precious metal witnessed in major hubs.

      14th March 2016

    • Interest rate cut may happen in April.

      According to a recent survey, the Reserve Bank of India may cuts its rate by 25 basis points on or before its upcoming policy review meet scheduled for 5th April, 2016. The central bank is also expected to purchase Rs 20,000 crore this month by way of open market operations. The main purpose behind this purchase is to increase liquidity.

      The Reserve Bank of India recently announced that it would purchase government securities to fill liquidity of Rs. 15,000 crore into the banking system. The bank plans to purchase these securities via OMO (open market operations). The open market operations are conducted by RBI to adjust the rupee liquidity conditions in the financial market on long term basis. When there is excess liquidity, the Reserve Bank of India sells securities and when liquidity conditions are tight, it purchases securities from the market.

      11th March 2016

    • PDAC Convention 2016, famed investor Don Coxe says gold will rise

      The famed investor Don Coxe, at the PDAC Convention 2016 addressed the crowd saying that investors are sick negative bond yields, pension funds, and other investments of long-terms. All these reasons will drive the prices of gold higher in the future. The inevitable backlash will drive investors into alternative assets like gold, and make them the big winners. He also said a negative yielding bond is not something of value. The precious metal is currently standing at a 13-month high to be a a prices of $1,270.90 for a troy ounce, on the April futures.

      10th March 2016

    • European markets wavering, dollar price falling, help gold rise

      In London, on Monday gold was trading slightly below $1270 per ounce. The precious metal gained by 20%, as the European markets have been wavering, owing to the European Central Bank's decision on negative interest rates, this is due to be announced later this week. The drop of the Euro as well as the US dollar in the forex markets have pushed the metal higher towards $1.0940 per Euro. Other metals such as Iron ore jumped to a high of 19% on Monday. The prices of US bond slipped again on Monday, nudging the 10 year yields to a high of 1.9% in the last month.

      9th March 2016

    • No tax on capital gains, makes gold more favourable

      You can now have tax free earnings on gold returns. The centre has announced with the Union Budget this year that the sovereign gold bond, exempt from capital gains tax when redeemed. Any investments made in gold ETFs, gold funds, gold coins or jewellery will have a capital gains tax of 20% with indexation benefit after a 3 year period. Capital gains on gold coins bars and jewellery, when sold before 3 years, are taxed at the slab rate. If sold after three years, it will be taxed at 20 % (with indexation benefit). On the taxation front for ETFs, are similar, if the ETFs are held for a period that is less than 3 years, the capital gains are treated as short term and taxed at slab rates. However, if the ETFs and funds are held for 3 years for gains it is subject to long-term capital gains tax or 20% with indexation benefit.

      8th March 2016

    • Gold is highly bullish and it’s official

      The prices of gold has increased by more than 21% from the bottom most, pushing into the bullish market. The renewed growth concerns around the world has led to this, the risk appetite for gold has increased due to other investments having widespread negative yields. ETFs as well have hit the highest peaks since 2014. The mixture of inflations expectations being lowered, bond yields being negative, have provided the precious metal to flourish.

      7th March 2016

    • Gold prices drop on multiple accounts

      The price of gold fell across the globe, dropping for the second consecutive session, primarily on account of a strong US dollar and robust global equities. The speculation of a US Fed rate hike also hurt gold, which saw prices drop to $1,230 per ounce, a fall of 0.2%. With the US dollar gaining strength, one could expect a further drop in gold rates. This year has been good for gold, with prices up by almost 16% since January, but current trends could play a leveller, helping make gold affordable.

      4th March 2016

    • Gold investors smile more

      With the speculation that policy makers around the world running around for answers, investors in the precious metal have smiles all around. Precious metal is on a high road, and group of 20 major economies finance ministers met and decided to plan a global growth revival. China’s slowing economy is showing an urgent need of cutting the reserve requirement for its banks. Gold has climbed over 16% since the start of this year, and has proved to be the best asset to invest in.

      03rd March 2016

    • Prices of the precious yellow metal may rise

      With the economic conditions continuing to be unpredictable, gold prices may be on the rise. The contributing factors of this hike, are not the same currently, the gains already this year is 15%. The economies in China and Europe facing a weak trend is worrying and gold prices and moving ahead on this factor. Concerns of a recession like 2008 are also worrying, raising the values to more than $1,900 for an ounce.

      02nd March 2016

    • Futures Update for Gold, Copper and Oil

      Prices of oil futures surged by 15% on Monday despite existing resistance to end at 34.35. Friday's momentum for the rise was restricted by losses experienced at Wall Street. Confidence is expected to be gained back through inflation PCE and affirmative Q4 GDP results.

      Despite larger gains for USD as well as profit taking in risk assets gold futures stayed flat.

      Copper prices rose to 2.1485 almost touching resistance trend line prior all the data releases.

      The major data releases in the coming month are expected to impact the numbers strongly. Both US Federal Reserve and The European Central Bank are waiting on on the interest rate decision which are also expected to have a strong impact in the futures market. Other currencies such as JPY, GDP as well as euro are expected to be strongly impacted.

      1st March 2016

    • Gold ETFs rise with weak equities in US

      Gold ETFs rose to higher grounds as the US equities markets posted losses. The ETFs ready for April delivery rose by $16.5 or 1.35% on the Comex division of the New York Mercantile Exchange, the prices settled at $1,239.10 per ounce. Gold prices seemed to be a safe asset to invest in, as oil prices and stock markets globally fell drastically. Even silver ETFs for March deliver was higher by 5.7 cents and settled at $15.297 dollars per ounce. Platinum for April delivery was higher by $0.2 ad settled $943.70 per ounce.

      29th February 2016

    • With markets falling, gold still retains gains

      Amidst the markets forcing shares and equities to drop, gold retained its gain on Wednesday. Along with other safe-haven assets, gold managed to keep the overnight gain. Spot gold was steady at $1,227.40 an ounce. Shares in the Asian markets dropped even with the promising recovery made by crude prices. Oil Minister in Saudi Arabia ruled out any cuts in oil production by major producers in the near future. The Japanese Yen also increased against other foreign currencies like the Euro and Dollar. Even gold backed ETFs were at their highest since 2015 March, with inflows surpassing so far, the entire outflows for the year 2015. Gold has been the best performing asset of the year, with already 16% gains in the year till date.

      26th February 2016

    • Gold prices bounce back as the global stock markets fluctuate

      In Europe, gold futures trade was higher on Tuesday. The previous sessions of losses, were due to the oil price boosting, but gold futures bounced back. Gold for April delivery on the division of NY Mercantile Exchange - Comex stacked on $ 7.90 and was traded at $1,218.00 for a troy ounce. The previous day the prices dipped to $20.70 as the precious metal proved to be a safe-haven amidst a price of oil recovery and recovery of the global markets as well. Gold was up by almost 16% this year,silver futures as well which are out for a March delivery closely climbed up 4.6 cents, and were trading at $15.22 a troy ounce in London.

      25th February 2016

    • Gold Futures’ future bleak

      Massive speculations and concerns over the US rates on gold and clamping down on gold bullion through increase in tax rates have led gold to fall, rise, and in the light of the recent market changes, fall yet again.

      Gold futures to be delivered in June have slipped down the rates by 1.31% to INR 2930, while for the near month of April, the rate is now INR 29110 which fell by INR 405 or a more aggressive 1.37%. This value is for 10 grams of the yellow metal. Analysts speculate a further weak trend seeing the current situation overseas. Gold prices reduced by 0.3% to around 1223 dollars and ounce in Singapore.

      24th February 2016

    • Domestic Gold demand slumps

      Mumbai: The price of an ounce of gold in India has currently slumped into a discount of USD 30 to global prices amid expectations of an import duty cut in the upcoming budget session.

      It may be recalled here that import duties on the precious yellow metal was increased from 4% to 10% in 2015. The move was aimed at reining in India’s current account deficit. Gold worth USD 34 billion was imported by India in FY 2014-15.

      23rd February 2016

    • Gold futures down to Rs.29,091

      As the participants cut down their bets, the gold prices fell by Rs.58 and ended at Rs.29,091 per 10 grams at the futures. The profit booking by speculators at the various levels led to the fall in the gold price but gold’s gain overseas capped the losses. On the global front, gold advanced to Rs.1,208.76 an ounce on the speculation that the US central bank will slow down the pace of the interest rate increase due to the global market turmoil and its weak growth.

      22nd February 2016

    • Gold trades high in the bullion market

      Gold traded near a seven-month high with investors assessing US’ monetary policy and instability in the financial markets. The price of bullion for immediate delivery increased by 0.5% to $1,194.52 an ounce and was at $1,188.60.

      The price of the yellow metal rose above $1,200 on Monday February 08, 2016 for the first time since June as global equities slumped. A weak US dollar was also one of the reasons for gold to outperform in the Bloomberg Commodity Index.

      12th February 2016

    • Gold prices on the rise in Dubai, up by 10%

      The yellow metal is up by 10% in the recent weeks, the weakened oil and gas industry, and financial markets being volatile has led to the rise. The rate of 24 carat gold was Dh 141 per gram compared to prices in December 2015, which was almost a hike of Dh 13 per gram. While the costs of different carats of gold were, 22 carat for a price of Dh 133.75 per gram, 21 carat at Dh 128 per gram and 18 carat at Dh 109.75 per gram.

      11th February 2016

    • Gold prices continue to rise. Closes at Rs 28,714

      Gold prices continued their upward surge, rising by a further 0.10 per cent to close at Rs 28,714 per ten grams. This rise was attributed to participant’s enlarged positions, which reflected a firm overseas trend. At the Multi Commodity Exchange, gold for delivery in June gained Rs 28 or 0.10 per cent to Rs 28,714 per ten grams in a business turnover of 41 lots.

      According to analysts, the firm overseas trend has increased concerns about the state of health of the global economy. Abroad, gold prices rallied for an eighth straight day after topping $1,200 an ounce for the first time since June.

      10th February 2016

    • Asian Gold Continues To Rise

      Gold prices in Asia climbed on Monday as investors see US Federal Reserve System’s continued disinclination to raise rates as a positive sign.

      April Gold supply on the Comex of the NY Mercantile Exchange increased by 0.71 percent to $1,165.80 a troy ounce. Prices of silver also rose, up 0.93 percent to $14.915 a troy ounce.

      In the upcoming week, gold prices are expected to fluctuate on Wednesday’s testament by Fed Chair Janet Yellen and Friday’s US retail sales figures. Gold prices went up at the end of last week after the US employment numbers suggested low rate of job creation but higher wages.

      9th February 2016

    • Gold Continues to Rise, Touches 5-Month High

      Gold prices in India went up by Rs. 175 and touched a 5-month high of Rs. 27,155 for 10 grams at the bullion market on Thursday.

      Standard gold (99.5 purity) closed at Rs. 27,155 per 10 grams on February 4, the highest since August 24, 2015. Pure gold (99.9 purity) also went up by Rs. 175 to close at Rs. 27,305 per 10 grams.

      The prices were buoyed by the firm overseas trend and higher buying by jewellers to meet the wedding season demand.

      Globally, spot gold was priced at $1,147.40 an ounce, its highest since October 30.

      8th February 2016

    • Gold starts strong in 2016

      The year 2016, has, so far been good for gold, with the yellow metal inching up by over 6%, but nowhere close to its 2011 highs. The year 2015 was a bad one for gold, with prices dropping to new lows, but the first two months of 2016 have stabilised it, as prices hover around the $1,127 mark per ounce. A drop in market performance has led to gold regaining some of its glory, and experts hope that this trend will continue throughout the year.

      4th February 2016

    • Gold defies global concerns by holding near 3-month high

      The price for spot gold reached $1,130.11 per ounce before dropping by 0.4% to trade at $1,124.31 per ounce.

      Gold, being the investment of choice in an uncertain economic climate, is being closely monitored by the US Federal Reserve in the global economy and financial markets.

      A possible rate hike in March as declared by US Federal Reserve limits the upward momentum, as the gold that’s been held till interest rates rise also raises the opportunity cost of the investment.

      3rd February 2016

    • Slight gain in gold prices in Asia

      The safety net provided by gold came into fray again, as investors opted for gold investments amidst a fickle global economy. The price of spot gold rose to $1,127.07 per ounce, inching towards the three month high of $ 1,130.30 per ounce. Gold futures for April delivery also traded at a similar cost, with the price being $1,127.70 per ounce. Indian markets witnessed an increased demand for gold, with a speculation that global markets could continue being volatile in the coming weeks adding some shine to gold.

      3rd February 2016

    • Sovereign Gold Bond Scheme or No, India’s Gold Imports Likely to Remain High

      Though the second tranche of the Sovereign Gold Bond Scheme in India was reported to be successful, the country is likely to remain a major importer of gold, according to analysts at Capital Economics.

      The gold bond scheme has attracted demand equal to around 4 tonnes of gold in less than three months, though the Gold Monetisation Scheme has not taken off well.

      It is possible that the gold bonds might displace a part of the country’s gold imports for the purpose of investment, but that is not expected to reduce imports of the precious metal significantly. Capital Economics expects India’s gold imports to rise by 4 percent in 2016.

      2nd February 2016

    • Gold Rates Appreciate On Speculations of Fed Meeting

      Gold rates have appreciated to a 12-week high as investors waited for the first statement to be released by the Federal Reserve this year. The next meeting of the Fed is unlikely to result in any rate changes though investors are awaiting statements on the economic conditions from Europe to China.

      With low expectations of rate hike, gold prices are likely to get boost. Spot gold was trading at $1,119.46 an ounce, a little shy of the peak reached on November 3rd at $1,122.90 an ounce.

      1st February 2016

    • Price of gold futures expected to rise

      The year 2016 has been good for gold, with prices picking up after a major slump in 2015. Recent gold prices have hovered around the $1,122 mark per ounce, making them the highest rates in the last three months. Experts are of the opinion that gold prices could climb up further in the future, albeit just marginally, with any changes in the Federal interest rate likely to impact costs.

      28th January 2016

    • Gold Prices Continue Rising

      Gold prices have been on the rise off late, and the yellow metal’s value was on the rise earlier this week as well, hitting a three-month high in excess of $1,120 per ounce thanks to gyrated equities. Following a poor start to 2016, prices have shot up 5% since the turn of the year. The malaise of equities is a result mainly of the economic concerns in China and the slump in oil prices. Weaker inflation has also contributed to the decline in energy prices, and experts expect it to soon boost the price of gold too. The latest market predictions show that the Fed will raise rates once more during the course of 2016.

      28th January 2016

    • Gold to recover its demand in 2016.

      The demand for gold which fell 2% in the last year is now all set to recover in 2016 as per observations made by GFMS analysts. As per GFMS, form it current rate of $1,100 an ounce, Gold price in 2016 is expected to rise above $1,200 an ounce by end of the year, thereby an average amount of $1,164 an ounce in the full year. The low interest seems to benefit gold by raising people’s demand for this yellow metal.

      27th January 2016

    • Gold prices rise after a 3-month low

      Gold prices have hit the highest since November 2015, with the global economy slowing down and crude oil prices slipping. Gold rates, after falling up to 10% in 2015 rose by around 5% this year. The price of spot gold rose 0.5% at $1,112 an ounce, after earlier peaking at $1,113, its highest since November 4.

      27th January 2016.

    • Gold bar imports increase higher by 118%.

      According to data released by GJEPC- the Gems and Jewellery Export Promotion Council, there is a substantial rise in the gold bar imports by India during last December. The month of December recorded a rise of over 118% compared to the last year. The Gems and Jewellery Export Promotion Council recently published the details of raw material imports for the month of December, 2015.

      As per the report revealed by GJEPC, the overall gold bar imports by the country increased to Rs 2,027.21 crores in the month of December, compared to Rs 925.75 crores in 2014.

      25th January 2016.

    • Weak dollar benefits gold

      Gold is benefiting from the weak dollar and ailing European shares. Gold is seen as an alternative investment during the times of financial uncertainty and is considered as a safe-haven asset. Gold has scaled a 2 month high of $1,112 an ounce. Analysts say that since China is the biggest consumer of gold and the economic slowdown is generating a speculative demand for gold, it could weigh on Asian physical consumption. China has a modest premium to world gold prices.

      22nd January 2016

    • Banks to sell India Gold Coin.

      Following the recent amendment in the Gold Monetization Scheme, now banks can sell gold coins made by MMTC. The Reserve Bank of India made this announcement on last Thursday. Earlier, these India Gold Coins with Ashoka Chakra engrossed on them were supplied to the domestic market as authorized by MMTC (Metals and Minerals Trading Corporation of India). But, now all participating banks in the Gold Monetization Scheme would be able to sell the India Gold Coin.

      22nd January 2016.

    • Retail gold price in Dubai records a slight increase

      Retail prices of gold rose in Dubai on Monday. The price of 24-carat gold stood at Dh 131.25 at 6pm, up by Dh3.25 from December 31.

      Gold prices have so far risen by about 2.5 percent this year, as investors continue to play safe in the sluggish economy.

      Spot gold prices as of 1:03 GMT were $1090.93, up by 0.2. percent. Analysts are divided about the future of the precious metal’s prices. While some suggest continuing rises towards March, others point to a possible improvement in investor sentiment leading to a decline in prices.

      21st January 2016

    • Gold prices rise by Rs.340

      Gold prices rose by Rs.340 on Wednesday to Rs.26,690 (10 grams) - the highest in two months - on the back of a firming trend and increasing demand from jewellers courtesy the wedding season in the country.

      The price of silver also rose by Rs.400 to Rs.34,400 (per kg) due to rising demand from coin makers and industrial units. According to experts, gold witnessed a rally to touch $1,100 (ounce) across world markets as equities plummeted over the past two months.

      21st January 2016

    • Traders are liking the ups and downs of Gold prices

      Many traders are liking the erratic movement in gold, while the prices rose with the stock market fall, especially in China and the US dollar slipping made it more attractive for buyers from overseas. The gloomy outlook for the precious metal continues, the US Federal Reserve is now expected to raise their interest rates, benefiting the US dollar and oppresses the asset, Gold.

      20th January 2016

    • Gold Prices Steady Against Weaker Oil and Stock Prices

      Gold prices steadied thanks to weaker oil and stock prices that encouraged investors to put their money in safe-haven assets. However, slow physical demand in Asia ensured that the bullion was traded at less than $1100 per ounce. The value of spot gold underwent little change at $1089.20 per ounce following Monday’s lethargic session when US markets remained closed due to the Martin Luther King holiday. Gold prices for delivery in February dropped 0.2% to $1088.90 per ounce in the US, and weak physical demand from the world’s most prominent consumers of gold, such as India and China, has reduced the upside potential of gold as consumer spending in China was dented due to its slowing economy.

      20th January 2016

    • Asia witnesses rise in gold prices.

      Recently, the price of gold goes up in Asia. As per the recent report, it goes up to $1,091.30 a troy ounce on the n Comex division of the New York Mercantile Exchange. Gold prices received their biggest one-day achievements in the last week on Friday when all market players and investors sought refuge in this yellow mental.

      19th January 2016

    • Gold prices rise as stocks plummet

      Gold prices rose on Monday owing to safe-haven buying after Asian equities plummeted to their lowest level ever since 2011 on the back of weak US business outlook.

      On Monday, the price of an ounce of spot gold rose by 0.3% to $1,092.12. US gold (February delivery) was priced at $1,091.50. The falling oil prices have triggered fears of an economic slowdown, resulting in many investors turning to gold.

      The gold rates as on today are listed below:

      18k- 102.25

      22k -124.75

      24K- 131.50

      21K- 119.25

      18th January 2016

    • Gold demand increases as spring festival and wedding season commences

      With the wedding season right around the corner and the spring season in full swing, the demand for gold has gone up. In China, the demand for the yellow metal increased as people bought gifts ahead of the spring festival. The Shanghai Gold Exchange indicated low prices at $2-$3, as compared to $4-$5, which in turn increased the gold demand.

      In India, which is the second largest consumer for gold globally, wedding jewellery sales increased with weddings right around the corner. A reduction in prices has led to high demand of the yellow metal, which is a popular gift during weddings, in the country. Last week gold dealers were charging a premium of up to $1 for an ounce to global prices after offering a discount of up to $1.50.

      18th January 2016

    • Asia records increase in gold prices after rebound

      Gold prices in Asia increased following a fall as investors shifted to safe-have assets. The Comex division of the New York Mercantile Exchange recorded an increase of 0.52% to $1,092.40 per troy ounce in delivery for February. Delivery for silver in march reduced 0.22% to $14.104 per troy ounce.

      The Corporate Goods Price Index in Japan is forecast to show a 3.5% year-on-year decline in December. In addition, core machinery orders for November declined 7.9% year-on-year.

      The General Administration of Customs in China on Wednesday reported that its exports declined 1.4% on a yearly basis in December, relatively less than what analysts had forecast – a decline of 8%. Export levels across China have received plenty of attention at the beginning of 2016 after PBOC (People’s Bank of China) started the year with a 1.5%+ devaluation of the yuan. The economic concerns in China have been regarded among the main factors that have contributed towards the shift in gold and silver prices in the recent past.

      14th January 2016

    • Gold drops for the fourth time

      Due to the rebound in the stock markets, gold rate was reduced further. Spot gold reduced 0.2 percent and ended at $1,084.20 an ounce and the US gold futures gave up 0.2% and slid to $1,083.20. The data from the New York listed SPDR Gold Shares fund showed that the world’s largest gold-backed exchange traded fund rose 2.1 tonnes on Monday. China has launched interbank gold trading as a broader drive to open the country’s bullion market.

      14th January 2016

    • Gold surge may not last on global cues

      India News: Domestic spot gold prices surged by 4% in early January this year surprising investors but the rise may be short lived, according to analysts.

      The yellow metal has witnessed some ‘safe-haven’ buying lately thanks to rattled equities on the back of China pegging the yuan-dollar rate lower for straight eight sessions. The price of the yellow metal has fallen by 44% since September 2011. Gold prices have been plummeting for 52 months till December last.

      On Monday, the spot gold price at MCX was pegged at Rs. 26,018 (10 gm), a 4% increase compared to the price of the yellow metal on December 31, 2015 when it was pegged at Rs 24,994 (10 gm).

      According to experts, the gold-silver ratio which has currently gone up to 78 (from 72 in August 2015) will lead to plummeting gold prices in the near future. Also, the Chinese government may announce a stimulus package in view of the Chinese New Year holidays (Feb 8) which may result in dampening of the ‘safe haven’ sentiment, reports suggest. Some of the other bearish factors include weak investor sentiment besides less demand for gold as an investment, according to reports.

      13th January 2016

    • Gold demand from rural India to take a beating

      India News: Gold sales in India may take a beating owing to poor kharif and overall bearish factors forcing riots to cut purchases in 2016, according to analysts.

      According to experts, there may be a 10 to 15% decrease in India’s gold purchases in 2016 as riots are expected to reduce buying due to low commodity prices and poor kharif among other factors.

      It may be recalled here that 60% of the overall demand for the precious yellow metal in India originates from the rural areas.

      12th January 2016

    • Gold Gains on Global Trends

      Gold today breached Rs.26,000 mark by gaining Rs.430, which is also the largest gain this year as yet. Gold was trading at Rs.26,330 on global bullion market uptrend as well as increased demands on the domestic front from jewellers.

      The global markets saw gold topping $1,100/ounce. Depreciating rupee also helped gold prices rise as the cost of importing increases.

      Silver crossed Rs.34,000 mark on increased offtake by coin makers and industrial units.

      Currency devaluation by China spurred global markets to three week high rates. Meanwhile, gold in Singapore touched $1,102/ounce, the highest rate since 6th November.

      Gold in New Delhi was selling at Rs.26,330 (99.9 purity) and Rs.26,180 (99.5 purity), a gain of Rs.430 each.

      Sovereign gold was selling at RS.22,400 per 8 grams while 100 silver coins were selling for Rs.49,000 for purchase and Rs.50,000 for selling.

      11th January 2016

    • Gold rises 2% as stocks tumble

      Holdings in Exchange-traded products of gold fell to 1,463.9 tons from 2.56 metric tons - the lowest in six years on Friday. Gold prices rose by 2% on Monday on the back of rising oil prices, return to safe-haven assets owing to tensions between Saudi Arabia and Iran and falling stocks due to a slowdown in Chinese economy.

      The price of bullion (99.99%) increased by 0.4% touching 223.85 yuan on the Shanghai Gold Exchange. Trading in the Shanghai's stock exchange got suspended on Monday as the main index fell by 7%, triggering a 3% fall in stocks in Japan and India. Stocks in North America and Europe fell by 2% on the same day.

      On Monday, the president of San Francisco Federal Reserve John Williams said there is no cause for concern regarding the weak data from China. The US will announce 3 to 5 interest rate hikes in 2016 on the back of a strong US economy, he added.

      8th January 2016

    • Gold looks unlikely to make headways in 2016

      As the year draws to an end, it brings to light the lacklustre performance gold had in 2015, which saw it all set for its third consecutive annual loss. A strengthening US dollar coupled with the repercussions of the Fed rate hike do not spell good news for gold. Some experts are of the opinion that gold rates could fall below the $1,000 mark in the coming months, with a lot of pressure on gold to live up to its previous expectations.

      7th January 2016

    • Gold prices climb up

      Geopolitical tensions in the Middle East resulted in some cheer for gold, as a rush for safe heaven bids saw gold prices climb up moderately. An increase of 0.4% and 0.3% was witnessed in the prices of spot gold and US futures respectively, as spot gold closed at $ 1, 064.4 per ounce. Silver prices also jumped by 1%, closely mimicking gold. A weak dollar aided gold as investors rallied behind the yellow metal on the back of this geopolitical instability.

      6th January 2016

    • Weak US equities spells good news for gold

      The New Year has brought some good news for gold, as prices have been on a steady incline in the first week of 2016. US equities stumbled for the second day in a row, allowing gold to pick up pace, with gold futures for next month up by 0.3%, settling at $1,078.4 per ounce. Silver also saw a jump, as a 0.94% increase was witnessed, with an ounce trading at $13.971 in the US markets.

      6th January 2016

    • Gold futures up by Rs.88 on global cues

      New Delhi: The price of gold increased by Rs.88 to Rs.25,050 (10 gram) at the futures market on Monday as speculators took new positions taking cues from the global market.

      Gold (February delivery) was trading at Rs.25,050 (per 10 gram), higher by 0.35% or Rs.88 for 293 lots at the Multi Commodity Exchange on Monday. Gold for April delivery also rose by 0.32% or Rs.79 to Rs.25,146 (10 gram) for six lots.

      According to market analysts, simmering tensions between Iran and Saudi Arabia have led to an increase in demand for safe haven assets, thereby, influencing the rise in the price of the precious metal at the futures trade.

      The price of an ounce of gold rose by 0.5% to $1,066.04 in Singapore on Monday.

      5th January 2016

    • Silver and Gold Imports Pick Up

      Gold stocks saw an increase of nearly 1% which was fuelled due to the rising tensions in the Middle East. Tensions were flaring up following the fall of diplomatic ties between Iran and Saudi Arabia. Further the dollar and stocks dropped due to the Chinese manufacturing survey data that echoed concerns of growth

      Spot Gold witnessed a bump of 1.23% to $ 1073.20 an ounce. With the Euro catching up a bid to the dollar, gold can witness a respite after having a poor 2014. Experts feel the respite for gold may not last long with the US Federal Reserve set to raise interest rates after almost a decade. When the hikes happen, gold will further lose its shine and be seen as an unattractive investment.

      Along with gold, silver also saw an increase in stock while platinum and palladium saw a dip in their values.

      4th January 2016

    • Silver and Gold Imports Pick Up

      Decline in worldwide prices ad expectations of high demand played a crucial role in increasing imports of silver and gold in December in Gujarat. GSEC Ltd.’s latest data shows that the quantity of gold imported by Gujarat in December 2015 was 12.32 metric tonnes. In the month of December 2014, the figure stood at just 2.60 metric tonnes, marking a significant increase of 374% and making it the highest imports in December over the past three financial years since the duty on gold was raised to 10% by the government in June 2013. Traders in Ahmedabad revealed that the increase in imports was a result of increasing demand thanks to the upcoming marriage season.

      4th January 2016

    • Gold futures plunge on strong dollar

      Gold futures fell on COMEX of the New York Mercantile Exchange on Wednesday on the back of a strong US dollar. According to reports, gold contract (February delivery) fell by 0.77% to $1,059.80. On Wednesday, there was a drop in the price of oil as well due to an unexpected increase in the stockpiles of US crude oil.

      The West Texas Intermediate (February delivery) fell by $1.27 on the New York Mercantile Exchange to $36.6. On the London ICE Futures Exchange, brent crude (February delivery) fell by $1.33 to $36.46.

      4th January 2016

    • Gold rates stay below par

      Gold prices across the globe continued to stay low, with the Christmas holidays having no impact on rates. Lack of demand from investors ensured that gold rates fell by $2 per ounce, ending at $1,071 as the world got ready to welcome 2016. Some experts are of the opinion that prices could pick up in the coming weeks, riding on the back of an increased demand in India and Pakistan.

      31st December 2015

    • Gold rates stay below par

      Experts are of the opinion that the downward trend witnessed in gold prices will continue into 2016, with the increased US interest rate combined with the strengthening dollar expected to curtail the growth of gold. It is predicted that investors might choose to stay away from gold, as gold rates are expected to fall below the $1,000 mark per ounce in the next few months. Added factors like low inflation and upward market trends could also contribute to the downfall of gold, according to certain experts.

      31st December 2015

    • Gold prices drop for the 6th quarter straight

      Gold prices continue to fall for the 6th quarter straight, the prices were on the rise during the Christmas week by 1%, but still continued the fall in the quarter. This is the longest streak on loss for the precious metal since the 1970’s. The prices of Gold have fallen by a whopping 10% this year itself, spot gold was down by 0.85% and stood at $ 1, 066.35 for an ounce. Even other precious metals like Silver had a big dip in prices and fell by 3.3% and stood at $ 13.87 for an ounce, Platinum also was down by 0.9% standing at $ 873.25 for an ounce.

      30th December 2015

    • Investors look into other asset classes as gold fails to shine for third year!

      Gold fails to shine for the third year in a row with a fall over Rs.1,000 per 10 grams as investors turned to other asset classes and the government came up with a plan to monetise the idle holdings in household and institutions. Gold prices have dipped by 5% this year. Gold experienced a roller coaster ride this year with a lot of ups and downs. The government came up with gold monetisation schemes to curb gold import.

      30th December 2015

    • Softer dollar unsuccessful in lifting the yellow metal

      Gold slipped today following lower oil prices, but was unsuccessful in managing to get safe haven bids despite the weak dollar and Asian equities as liquidity remained thin. Spot gold eased 0.1% to $1,074 an ounce while silver dropped 0.5 per cent to $14.27. Oil prices dropped after the long Christmas weekend and the yellow metal is correlated to oil as it is a hedge against petroleum led inflation.

      30th December 2015

    • Gold continues to slip

      Christmas joy was short lived for gold, as prices fell after the holiday weekend, posting its sixth consecutive quarterly loss, its worst performance since 1970. The Christmas week saw gold post a gain of 1%, but prices fell by 0.85% on Monday, with spot gold trading at $1,066.35 per ounce. Lack of demand from international markets, including China did not help gold prices either, with investors hoping for a turnaround next year.

      29th December 2015

    • Gold Ends Year 9.3% Down

      Gold prices look to end the year 9.3% down in the wake of extremely light trading following Christmas. Gold saw a pre-Boxing Day mini-rally, but following a very quiet Asian session, gold prices fell by $2.90 and is currently trading at 1073.00.

      The US dollar also fell in tandem with gold and is down 14 points at 97.88. Over in China, consumers cut down on gold purchases for a second year in succession due to the slowing economy, while purchases remain soft in India as well. Many traders and analysts expect gold to fall further in 2016 to about $1,000 an ounce or lower.

      29th December 2015

    • Analysts Predict Gold to Lose Shine in 2016

      With an expected increase in strength of the dollar, analysts predict a fall in gold with prices dropping below the US$1000 mark in 2016.

      With the Fed announcing increase in interest rates, a first in almost a decade, Gold prices saw a fall to a six year low the very next day of the announcement and stood at US$1,049 per ounce on the 17th of December 2015. Gold did see a meagre recovery and stood at US$ 1073 on December 24th.

      Mr Vasun Menon, OCBC Bank’s vice president of Wealth Management says that the prices of gold are heading lower due to the hike in interest rates and may touch if not go below the US$1000 mark

      Analysts believe that the increase in strength of the dollar through the 4 hikes in interest rates will put pressure on gold. The next hike is slated for March and since gold is viewed as an alternate investment when the dollar is weak, the investments in gold will go down when the dollar increases strength. The fall in prices of gold may attract a few bargain hunters but the deficit of demand will exacerbate the fall in gold further

      28th December 2015

    • Gold imports might hit 1,000 tonnes in the country

      In spite of the steady decline in the price of gold and investors reluctance in investing in it, it is being estimated that India will have imported as much as 1,000 tonnes of gold in 2015. If the imports do hit these numbers then it will constitute a jump of 11% in the imports. When compared to the figures from 2014, India will exceed its imports of 900 tonnes from last year by 100 tonnes. Figures showed that between January and September of 2015 alone, a total of 850 tonnes of gold had been imported. It had also been stated by the World Gold Council that the demand will remain low in the last quarter of 2015 for India, which means that only about 200 tonnes will be imported as opposed to the 300 tonnes that were imported in 2014.

      28th December 2015

    • Gold prices inch upward

      After a lull in the market which saw gold prices drop by 0.7% over two sessions, gold rallied back, posting a 0.3% rise. Spot gold traded at $1,073.60 per ounce this morning, with the holiday season expected to bring some cheer. With financial centres across the globe closed for Christmas, one will have to wait till next week to see the actual impact on gold rates. Experts are of the opinion that prices will depend on the trade volume rather than other developments, with a number of them predicting that prices could fall below the $1,000 mark in the coming months.

      24th December 2015

    • Gold prices drop despite soft dollar

      There was no Christmas cheer for gold, as prices dropped in spite of a weakening dollar. Prices fell by 0.1%, with spot gold trading at $1,074 per ounce. Silver prices also witnessed a decline, with a 0.5% drop. With a number of markets closed for Christmas and New Year, experts don’t see heightened action in gold till next week, with a further drop expected as the dollar strengthens.

      28th December 2015

    • As the Dollar retreats, gold holds at $1,080

      After a two-day rally, gold held its position at $1,080 (per ounce) after its long awaited two-day rally. The US interest rate moving at an uncertain pace, increasing capped gains.

      After the Federal Reserve hiked rates for the first time in nearly 10 years, gold has risen by over 3%.

      24th December 2015

    • Gold stabilizes after 2 days, as the dollar retreats

      On Tuesday 22nd December 2015, Gold prices held up at $1, 080 for an ounce after it benefited, from retreating dollar. The precious metal has risen around 3% since it lowest in the last 6 months after Federal Reserve interest rate hike. The prices of spot gold standing $ 1, 075.50 for an ounce, which changed slightly from Monday’s price $ 1, 078.06. Silver also was up 0.4% at $ 14.31 ounce, while platinum was down by 0.5% and stood at $ 867.65

      23rd December 2015

    • Gold prices vary with effect to dollar rates

      Federal Reserve raised interest rates last week, as a result of which gold prices slumped. Last Thursday, gold prices fell, hitting a new six-year low of around $1,050. However, post the slump prices have been gradually rising and was this morning trading at around $1,080 an ounce.

      There have been predictions that gold rates may will fall below $1,000 an ounce, probably in the early months of next year. However, another prediction that is doing rounds is that a second interest rate hike would result in monetary policy tightening, while the dollar would increase from its already historically high levels. Inflation is likely to stay depressed as oil prices tumble.

      On the other hand, there are chances of another rate hike by the Federal Reserve in response to more sluggish economic growth and weak inflation. In case of a second hike, the dollar may experience a dip and, after three years of a downward trend, gold rate could rise higher. Credit Suisse has projected a price above $1,100 and as high as $1,150.

      23rd December 2015

    • Gold Prices fluctuate in the face of Rising Interest Rates

      Rates of gold had been falling substantially over the course of the past few weeks, so much so that it dropped below the international lowest rate that had been set in 2010.

      Lowering rates of gold have been attributed to the lower demand from jewellers and the strengthening of dollar, and the marginal rate hike of 0.25% by the US Federal Reserve. Spot gold prices rose by 0.3 percent and reached USD 1055.70 an ounce, and gold futures for February delivery gained 5.70 dollars an ounce, bringing the final rate to USD 1055.30. While it is widely expected that the recent marginal hike by the US Federal Reserve is just a sign for the coming times when gold rates will be going through another major phase of change. While according to some financial analysts that change is going to be negative, some are optimistic about the fact that gold can bounce back to the USD 1200 mark by 2016.

      22nd December 2015

    • Gold retains gains from rally

      Gold held on to gains on Tuesday from a two-day rally, on the back of a sliding dollar but reined in by falling oil prices and fears about the pace of U.S. interest rate hikes in the future.

      An ounce of spot gold was pegged at $1,077.80 following gains in the previous two sessions. The gains were supported by increase in the demand for gold-ETF last week, an indication that investors are cautious. On Monday, the yellow metal got a boost after dollar fell as Chicago Federal Reserve indicated that the US economy was growing at a below average rate in the month of November.

      The price of crude oil fell to its lowest ever since 2004. According to reports, a further fall in prices may trigger fears of deflation. It may be recalled here that bullion is viewed as an effective hedge against inflation.

      On Friday, the assets of SPDR Gold Trust rose by around 19 tonnes, the biggest rise in around four years but followed by outflows (three tonnes). As investors geared up for high interest rates, holdings of the said fund hit a seven-year low in the first few weeks of December. According to experts, further drop in the price of oil may undermine any gold rally.

      According to reports, the Fed's announcement of only a gradual rate hike may result in the central bank not raising rates after each of its meeting.

      22nd December 2015

    • Gold adds to sharp gains on softer equities

      Gold price increased on Monday in turn adding to sharp gains from the last trading session. The weak dollar and equity helped the precious yellow metal recover from the losses from U.S. interest rate hike . Any rally in gold will be limited owing to concerns that demand from non interest paying bullion will take a hit from the U.S. rate hike.Spot gold had ticked up 0.3% to $1,069 an ounce by 0339 GMT.

      21st December 2015

    • Gold falls due to low demand

      Gold prices continued to fall for the third day in a row as the US Federal Reserve raised the range of its benchmark interest rate by 0.25%.Amid subdued local buying and reduced demand from jewellers and retailers, standard gold (99.5 purity) declined by Rs 35 to settle at Rs 25,150 per 10 grams compared to an overnight close of Rs 25,185. Pure gold (99.9 purity) also went down by a similar margin to end at Rs 25,300 per 10 grams compared to Rs 25,335 yesterday while spot gold dipped 0.7 percent to USD 1,066 an ounce in early trade, just USD 23 above a near-six-year low hit earlier this month. However, silver continued gaining momentum for the second straight session, riding the wave of sustained speculative demand combined with strong industrial buying support.

      21st December 2015

    • Gold prices look good in local currencies

      The price of gold all over the world have been dropping steadily and have been hitting new 5 year lows but in South Africa, the story is a bit different. Where, last year in march, the price of gold was R474,470 per kilo this year the price of gold has been selling at around R510,630 per kilo, which happens to be higher than last year’s prices. Even in the shares markets, the price of the shares of gold are higher than but not as high as any peaks it may have hit earlier. Alistair Hewitt, head of the World Gold Council, has said that 2016 could be a good year for companies and individuals looking to invest in gold.

      20th December 2015

    • Gold steadies after Federal Rate Hike

      Gold prices managed to steady after rates dropped to a five month low post the Federal Reserve rate hike. After falling by over 2% yesterday, prices inched up to $1,053.96 per ounce, a rise of 0.3%. This year has seen gold rates fall by almost 11%, primary on account of the rate hike impacting demand. Experts are of the opinion that gold prices could fall as low as $1,000 soon. Silver also continued on a downward spiral, as prices fell by 3% in one day.

      18th December 2015

    • Gold holds losses after the largest dip in 5 months following the Fed rate hike

      Even though Gold steadied today it still kept losses made a day before when the precious yellow metal suffered its biggest rate slide in five months after U.S. interest rates were raised for the first time in nearly a decade and the dollar surged.Spot gold ticked up 0.3 percent to $1,054.40 an ounce in the U.S. by 0327 GMT, following a 2 percent slide in the previous session, its biggest one day slide since July. The metal rate has gone down by 2% for the week in its worst performance ever in almost two months.

      18th December 2015

    • After the Federal Reserve hike, gold falls again

      Nearly after a decade the Federal Reserve raised their interest rates in the United States, due to this increase the trading of gold fell further. Gold has fallen nearly 10% this year, with the uncertainty of the US increasing their interest rates. Gold prices dipped by 0.6% and settled at a prices of $1, 070.50 per ounce. Many of the banks on Wall Street expect the Federal rate to get their next raise in the first quarter of the coming year.

      17th December 2015

    • Gold rates slashed after Federal Reserve rate hike

      Post the much-awaited rate hike by the US Federal Reserve, gold prices slipped on Thursday. In the first rate hike after almost a decade, the Federal Reserve raised interest rates by 0.25 percent.

      With uncertainty looming over the US rate hike timing, gold rates slipped by nearly 10% this year.

      The interest rate hike was announced on Wednesday after a two-day policy meeting between officials amidst stocks rallying in early trading in Europe and the US. The present rate, which is 0.5% after the increase, was kept the same throughout the global credit crunch. Due to this financial institutions could borrow cheaply and in turn allow them to lend at lower rates.

      17th December 2015

    • Gold Prices Inch Higher in Asia; Awaits FED Verdict

      Gold prices in Asia saw a minor pullback through the extending of its recovery levels. In anticipation of the outcome of the Federal Reserve’s 2 day policy meeting gold extended its recovery from below the 1060 mark

      Gold has now started trading higher by 0.24% than previous levels and now trades at 1064.20 but the recovery levels have seemed to pause at the 1065.50 level. Although the gold gains have been trimmed, it remains uplifted in the face of dull appeal caused by a rally in the Asian equities market.

      The recovery being witnessed in the precious metal is considered a short covering rally with markets looking to make profit on the expected rise in interest rates. The US central bank (FED) is expected to raise the federal funds by 25 bps. This would signify the end of low interest rates, a first in almost a decade. The rise in interest rates would further dull the appeal of gold as it is a non-interest bearing investment.

      17th December 2015

    • Gold drifts ahead of rate hike announcement

      The price of gold drifted on Wednesday at the conclusion of Federal Reserve policy meet amid high anticipation of a rise in interest rates by the US Central Bank in almost a decade.

      Investors await the decision of Fed set to be announced at 1900 GMT on Wednesday even as markets anticipate a 25 basis point ‘liftoff’. The price of spot gold marginally rose by 0.2 % to $1,062.40 at 0043 GMT on Wednesday. The price of the yellow metal plummeted by 10 % in 2015 and reached a six-year low in December this year amid fears of hike in interest rates and a strong dollar.

      Fed Chair Janet Yellen is expected to explain the policy statement of the Central Bank after the announcement of the policy meet. The US Fed began a two-day policy meet on Tuesday which many investors fear will trigger a rise in interest rates, eight years following a recession which resulted in a period of loose monetary policy in the US.

      According to experts, high interest rates will boost the dollar but may decrease demand for non-interest-gold.

      Zimbabwe’s mining chamber opined that the country should decrease the royalty fee on platinum producers (currently at 10%) so mining firms can offset the negative impact of low prices.

      Meanwhile, prior to the launch of India’s first physical gold exchange - expected to improve transparency and help standardise prices, a top bullion association in the country is providing jewellers with free membership across various small towns.

      16th December 2015

    • Gold Prices Increase amidst Decline in Dollar Value

      Gold prices are steadying again following a 1% decline thanks to the US Federal Reserve meeting that is forecast to result in an increase in interest rates for the first time in nearly ten years. Major USA data like Building Permit, FOMC Statement, FOMC Economic Projections, CPI, Philly Fed Manufacturing Index Unemployment Claims, and Core CPI along with major even, viz. Federal Funds Rate and FOMC Press Conference is expected to further offer direction to the metal. Should the Fed decide to increase the interest rates by 25 basis points, silver prices will be adversely affected, reveal experts.

      16th December 2015

    • Gold price falls ahead of Federal Reserve Policy

      Gold fell 1% just before the upcoming Federal Reserve Policy meeting that is to be held this week. It is expected that the first interest rate rise in almost a decade is to be announced in this meeting.Investors who have been expecting a rate increase have cut down gold positions. Higher rates will boost dollar and also decrease demand for non interest paying asset. Spot gold XAU was eased by 0.8 percent to $1,065.10 an ounce.

      15th December 2015

    • Gold struggles to recover ahead of US policy meet

      Mumbai: Gold is struggling to recover on Tuesday from overnight losses as it looked vulnerable to further lows ahead of an anticipated US Fed rate hike this week. At the end of the two-day policy meet of the US Federal Reserve on Tuesday, the US central bank is likely to raise interest rates which may be its first hike in almost a decade. The US central bank had last raised interest rates in June 2006. According to experts, high interest rates do not augur well for the precious yellow metal in that demand for non-interest bullion will take a beating. However, the hike may boost the dollar.

      In its third annual decline, the yellow metal fell by 10% in 2015, amid fears of high interest rates. The price of an ounce of spot gold rose by 0.2% to USD 1,064.20 on Tuesday after it fell by 1.1% on Monday. The current price is just USD 20 short of USD 1,045.85, a six-year low reached in the first week of December 2015. According to market analysts, gold may continue to slide given that investors are awaiting Federal Open Market Committee. Also, the pace of hikes will play a major role in determining gold prices in 2016, experts opined.

      While some trade pundits expect gold prices to slide further to USD 950 in 2016, brokerages such as Goldman Sachs expect the price of the yellow metal to drop below USD 1,000.

      According to experts, a strong dollar is reining in the price of gold. According to reports, brent crude is currently trading at 11-year lows. Also, low oil prices may trigger fears of deflation, a bearish factor for gold which is looked upon as an effective hedge against inflation.

      In India, the second-biggest consumer of gold in the world, dealers and jewellers postponed purchases in anticipation of the Fed meeting. Meanwhile, silver XAG struggled with losses for the seventh day, dropping to USD 13.66. On Monday, the price of an ounce of silver plummeted to USD 13.60, the lowest since 2009.

      15th December 2015

    • Gold remains volatile ahead of US rate hike

      Ahead of the Federal Reserve’s rate hike, gold has been experiencing volatility in recent weeks with prices in the range of $1,060-1,080 per ounce. Last week, the rates were down by 1.1% and it ended at $1,074 per ounce. With the Fed Reserve’s meeting on December 16, there are expectations that the central bank may increase rates by about 25 basis points for the first time in a decade.

      The largest gold backed exchange traded fund, SPDR Gold Trust, reported total holdings of 634.63 tonnes of Friday, as against the previous 638.8 tonnes last week. Mulling the data on US interest rates for the last 20 years, gold rates have been moving up during a sustained uptrend in US rates. In 2004, 1999 and 1994, gold rates rose 5-10% in the six months after the first/second rate hike. In 2004, between June and December, short-term rates in the US increased from 1.25% to 2.25%. Gold prices rallied up by 11% in that period and the US dollar index plunged 9%. Last week, while gold rates slipped, the US dollar index too lost about 0.8% and closed at 97.565.

      14th December 2015

    • Gold prices tumble on US Rate Rise Bets

      London: The price of gold fell on Friday amid speculation of a US rate hike next week. A rise in the interest rates following the Federal Reserve’s upcoming policy meeting on December 15 - the first in a decade, may result in decreasing demand for non-interest gold. Investors boosted bets on the price of the yellow metal plummeting to $1,000.

      The price of an ounce of spot gold fell by 0.7% to $1,064.11 on Friday and is likely to fall further by 2% this week. ETF Securities strategist Martin Arnold opined that the rate tightening cycle is more likely to be the point of discussion in the coming three months rather than the price hike.

      According to reports, the price of gold may range from $1,080 to $1,030 in the first quarter of 2016 due to a knee-jerk reaction to the US Fed rate hike. Also, according to technical analysts, if the price of gold falls below $1,064, the yellow metal will reach a six-year low of $1,045.85.

      According to reports, low crude oil prices, reminiscent of 2009, is hurting the price of bullion. Any fall in the price of oil may trigger deflation, not a favourable position for the yellow metal, which is used as an effective hedge against inflation.

      Gold futures (short positions) in Comex are at a record high. However, assets in SPDR Gold Trust, are at the lowest ever, since September 2008.

      Gold lost 9.8% of its value in 2015 and is on track for a third annual decline, according to reports. The price of silver and platinum also fell in their seventh weekly loss. The price of silver fell by 1.5% at $13.92 and platinum by 0.4% to $845.60.

      14th December 2015

    • Gold rates remain tight in spite of dollar dip

      Gold prices were low, with few investors actually going ahead with the purchases. The price drop was a result of the tentative US rate hike, by the Federal Reserve, next week. Spot gold price remained the same at $1,073.31 for an ounce, after closing down 0.1 percent in the previous session.

      Bullion investors are cautious as US Federal Reserve is expected to increase interest rates for the first time in nearly a decade at its next policy meeting on Dec. 15-16. Higher rates of interest may slacken the demand for non-interest-paying gold, which has already lost 9% of its value this year and is on track for its third year of losses. In spite of a 1.1% drop in the dollar index on Wednesday, gold prices were steady.

      12th December 2015

    • Gold drops further and has headed for seventh weekly drop

      As investors positioned for a looming US rate hike, gold dropped further. The first hike at the Federal Reserve’s policy in a decade is expected to dent the demand for gold as it is a non-interest paying asset. As the higher dollar makes a comeback, it will make gold expensive for other currency holders. Gold has lost 9.8% of its value this year. If the gold breaks below $1,064, it could take gold to a near six year low said the Reuters technical analyst Wang Tao.

      11th December 2015

    • Reduced demand for gold witnessed globally

      With investors and traders waiting anxiously for the impending US rate hike, gold continues to remain in a slump, with prices of spot gold down by 0.1%. An ounce of gold traded at $ 1,073.31 at the end of the last session. A weakened dollar had no impact on gold rates, with people choosing to play the wait and watch game. Consumption in India fell during the last week, with customers opting to wait for a further drop in gold rates.

      11th December 2015

    • Reduced demand for gold witnessed globally

      With investors and traders waiting anxiously for the impending US rate hike, gold continues to remain in a slump, with prices of spot gold down by 0.1%. An ounce of gold traded at $ 1,073.31 at the end of the last session. A weakened dollar had no impact on gold rates, with people choosing to play the wait and watch game. Consumption in India fell during the last week, with customers opting to wait for a further drop in gold rates.

      10th December 2015

    • US rate hike threatens the gold gains

      Gold rate increased on 9th December, 2015 which was supported by the softness of the dollar. But the gold’s hike was limited as the investors are anticipating a Federal Reserve rate hike in the coming week. Bullion traders are not optimistic about the prices as the US central bank is expected to raise interest rates. Higher rates might dent the demand for the non-interest paying gold.

      10th December 2015

    • The prices of gold are betting on prices to drop to $ 1, 000

      Purchases may increase in India and China with an expected fall in prices in gold to $ 1, 000, making it the lowest price since October 2009. After the announcement of the US Federal Rate increase a reform they’ve set to fulfill nearly after a decade is now scheduled to be next week. This expected rate increase has already caused the precious metal prices to fall by almost 9%. With the dollar value also being strong, making the gold market more expensive for other currencies of the world.

      9th December 2015

    • Markets look ahead to Fed meeting, leading to lower gold rates

      Investors are widely expecting the Federal Reserve to raise its rates at the December 15-16 meeting. The pace is expected to be gradual. The gradual path to higher rates seem like a less of threat to gold prices than a swift increase. Gold for February delivery on New York Mercantile Exchange Comex Division shed 0.21%.

      9th December 2015

    • China increases gold reserves by 21 tonnes

      After dumping a large chunk of its gold reserves, China has decided to up its ante, increasing its gold reserves by almost 21 tonnes in the last month. It currently has 1,743.35 tonnes or 56.05 million fine troy ounces of gold. The Central Bank of China has been on a diversification spree in the last few months, adding around 19 tonnes of gold in the months leading to November. A recent drop in prices helped the country buy more gold, signalling a change in trends.

      8th December 2015

    • Gold retains losses

      Gold has struggled to recover from the overnight losses on Tuesday. The gold rate fell by 1.6% on Monday and hit a session low of $1,069.66. On Friday, the strong US non-farm payrolls data supported widely held the market view that the Fed would hike interest rates for the first time in a decade.

      8th December 2015

    • Gold keeps on dropping in the national rate charts; silver still stable

      Rates of gold have been falling substantially over the course of the past few weeks, so much so that it dropped below the international lowest rate that had been set in 2010.

      Lowering rates of gold have been attributed to the lower demand from jewellers and the strengthening of dollar, amid the near certainty of a rate hike by the US Federal Reserve. Gold bullion prices in India reached to INR 25950, after dropping INR 50. Globally, gold rates fell by 0.3% to reach USD 1082.83 an ounce. The 99.9 and 99.5 variants of gold fell by INR 50 to INR 25950 and INR 25800 per 10 grams.

      8th December 2015

    • Gold prices drop by another Rs. 97

      Due to the global cues affecting the gold prices, the precious metal price dropped again by Rs. 97. The prices for 10 grams of gold now stands at Rs. 25, 455. Many analysts are saying that the trend of the overseas markets will weaken with the Federal Rate increase in the US in the coming week. Globally the precious metal has fallen by 0.2% to $ 1, 069.90 for an ounce in Singapore. In the next April gold is likely to shed another Rs. 56 or 0.22%.

      8th December 2015

    • Gold imports at record level but import bill still under $36 Billion

      Due to the lower international prices of gold, the Indian markets have seen some consistent upsurge in the demand for the yellow metal. This has made the gold imports to soar to record levels, however, the government is not worried since the import bill is still under $36 billion.

      This is because $36 billion is way lower than the earlier record import of $58 billion in the year 2011 when the prices of gold in the international markets were quite high. Experts are of the view that higher gold imports may not be a problem since the prices of gold right now are at a record low. The two main items that determine and affect the inflation rate of the nation are crude oil and gold both of which have been at lower than their expected prices and such are not posing any serious threat to the inflation rate in the Indian economy.

      7th December 2015

    • Gold prices likely to fall further in the coming months

      Gold prices likely to fall further in the coming months, due to the upcoming US Federal Reserve rate increase. The US Federal Reserve rates are being adjusted after a few decades and with the dollar value still strong the prices of the precious metal will get affected. The prices are expected to fall below $1000 per ounce after the adjustment, say analysts. Gold collapsed to $1,406.43 per ounce last Thursday the lowest since February 2010. Even silver could drop in prices to around $13.50 for an ounce.

      7th December 2015

    • Gold in 3 week high as US jobs triggers short covering

      Gold was traded at a 3 week high on Monday as it was boosted by a short covering rally after the strong US non-farm payrolls report. Gold rate because of the rate hike as higher rates were weighed on non-interest paying god and thus increasing its opportunity cost holding. Speculators’ short position is higher as per the US Government data that was released on Friday. India however is planning to ban import of 24 carat gold jewellery to curb the misuse of trade free agreements with Asian countries.

      6th December 2015

    • Gold prices fall yet again by 0.1%

      Price of gold has come down once again, this time by 0.1% to Rs. 25,027 for 10 grams. This decline has be credited to global cues which have led futures traders to trim their positions. These global cues are the expected increase in the interest rates by the US Federal Reserve which is making the dollar strong. Even in the international markets, gold is at a 5 year low and growing lower.

      5th December 2015

    • Government’s Gold Bond scheme might not attain target

      The Sovereign Gold Bond scheme launched by the government got off to a very successful start when it was launched. However, it has failed to remain successful. The secretary of Economics Affairs recently stated that the scheme received 63,000 applications for 917 kg of gold amounting to Rs.246 crore in first tranche. It was also stated that the gold bond scheme might do well if it was marketed like Kisan Vikas Patra and allow banks, post offices to market it as well.

      4th December 2015

    • Gold Prices Decrease by 1% as Value of Dollar Increases

      Prices of gold decreased by a little over 1% mid-week, bringing an end to two consecutive days of increases as the value of the dollar increased against the euro. Last week witnessed the metal recording near six-year lows owing to pressure of hopes that interest rates would be raised by the Federal Reserve for the first time in almost ten years. The timing of the rate hiking cycle has been tied to the strength of US data which makes the payrolls report for this week all the more important. An increase in rates is expected to up the opportunity cost associated with holding non-yielding gold and simultaneously increasing the value of the dollar.

      3rd December 2015

    • Price Slump Leads to Doubled Gold Imports in November

      India is the second-largest consumer of gold on the planet, and the country’s gold imports more than doubled last month owing to a decline in worldwide prices. Demand peaked during the wedding and festival seasons as prices hit a five-year low. The amount of gold purchased from overseas in November was recorded at 101 metric tons – a significant increase in comparison with the 45 tons purchased in October.

      Experts forecast that the price of gold is set to further decline and strengthen the dollar while reducing the allure of the metal.

      3rd December 2015

    • Gold jumps as Dollar dips from multi-month high

      The yellow metal jumped by nearly 1% on Tuesday as the Dollar dipped to a low that has been hit in quite some months. The dollar dipped to a low as compared to eight major currencies of the world after hitting touching an eight month high in the previous session.

      The key impact on gold price this week would be the meeting of European Central Bank, this Thursday. Experts have been anticipating a US rate hike in the Federal Reserve’s meeting this month end and hence the prices of gold are expected to fall further.

      3rd December 2015

    • Government agency to take over endorsement of gold rate in Dubai

      Dubai Gold and Jewellery Group is the agency that sets up the daily gold rate followed throughout the emirates. However, steps are underway to set up an official government agency to look into gold rate. The reason behind this step is to set a formal agency and a streamlined process for deciding the rate of gold in the country.

      A formal government agency will lend credibility and transparency to the rate determining process. This way shoppers as well as retailers will be assured that whatever they are buying is at the most authentic and uniform rate. As of now, the rate of gold in Dubai is updated 4 times in a day and takes into account the profit margin of retailers as well.

      3rd December 2015

    • Gold prices near 6 year low

      Gold prices inched towards a six year low on the back of comments by Janet Yellen, chair of the Federal Reserve. Following statements which hinted at a Federal rate change, the price of spot gold fell by 0.2%, ending at $ 1,050.80 per ounce, with the cost of US gold futures dropping to $ 1,049.40. The dollar rose to its highest in 12 and a half years on the back of this statement, further impacting gold rates, with investors staying away from bullion funds across the globe.

      3rd December 2015

    • Gold picks up on shorter covering, weak US data

      Gold picked up for a third session today, kept afloat by short covering following a drop in the dollar and soft U.S. manufacturing data. Soft gold moved up 0.1% to $1,070.60 an ounce after gaining 1% in the past two sessions. U.S. manufacturing declined for the first time in three years leading the dollar from an 8- 1/2 month high reached on Monday. The weak dollar provided support for greenback denominated gold and also provided investors with an opportunity to cover short positions.

      2nd December 2015

    • Gold gains slightly but remains bearish overall

      On Wednesday, gold saw a slight gain from a two-day rally, following a slip in the dollar rates. In apprehension to the US Federal Reserve rate hike, gold rates can be expected to dip further. After gaining about 1% in the past two sessions, the price of spot gold remained steady at $1,068.40 per ounce.

      The fate of gold prices is determined by the US monetary policy. Owing to Federal Reserve meeting that will take place in the second week of December to discuss the interest rate hike, gold prices may come to $1000 level. There is an expectation that Federal Reserve may raise U.S. rates for the first time in nearly a decade at its next meeting held on December 15-16, 2015.

      The price of bullion slipped last month to a near six-year low. With investors believing in higher rates weakening demand for non-interest-paying bullion, gold recorded its biggest monthly drop in two-and-a-half years in November. ABN Amro, on Tuesday, said that gold prices may falter below the $1000 mark for an ounce, in the coming months. It also said that gold has a negative outlook in 2016, based on the expectations that Fed Reserve would slowly raise interest rates into next year.

      2nd December 2015

    • Gold prices dropping is a problem for gold loan company Vithayathil Enterprises

      In Kerala, Vithayathil Enterprises is one of the 7000 companies that provide gold loans to customers. They are located in Varapuzha village, near Kochi, the company provides finance to the neighbourhood such as fishermen, farmers against gold pledged by them. The loan can be used for any expenses including education and wedding. With the fall in prices of gold, the family run business is facing a lot of worry, they have an outstanding of Rs. 35 lakh in loans that are past their payment dates. The money is generally lent from their family funds, and it affects the company’s fund is the loan isn’t repaid on time. If gold continue of this trend of falling prices, many gold loan companies will face a very heavy loss.

      2nd December 2015

    • China gold demand heading for record

      The demand for gold in the chinese market is heading for a record number as the Dollar holds good against the falling gold prices. The retail, investor as well as official demand for gold remained robust and positive. Deliveries clocked on the Shanghai Gold Exchange have revealed a robust and on-going demand with almost 55 tonnes of bullion deliveries in the last week alone.

      Shanghai Gold Exchange, or SGE remains one of the best indicators of demand for gold in the Chinese markets. The Exchange currently shows that the demand is headed towards a record high in the year 2015.

      2nd December 2015

    • Gold and copper both jump as China survey shows mixed results

      Gold gained as also copper after the survey of the Chinese PMI. On the Comex division in New York, Gold rose by 0.24% while silver rose by 0.25%. The biggest jump was shown by copper that jumped around 0.72% to $2.603 per pound.

      As a result, overnight, gold futures incurred modest gains in the US market as the dollar rose to a 12 month high. This was solely because of speculations about the US Federal Reserve hiking rates which is most probably due for the coming month. Despite the gain that gold incurred, it remained around the price that was close to 6 years low. In the month of November, even after being strengthened to some extent, gold still closed in the green just 8 times.

      1st December 2015

    • Gold gains as Dollar recedes

      Amidst receding Dollar due to investors covering short positions ahead of U.S. payrolls and European Central Bank (ECB) meeting, gold saw a further jump in its price. This came as a relief since gold rebounded from last week’s price that had reached a 5.5 years low.

      The Dollar shrank from a 7.5 month high as compared to the Euro that remained strong. Spot gold went up by about 0.4 per cent and touched $1068.20 per ounce. Gold saw the lowest price in November this year which was a record in the past 2.5 years. Experts believe that gold is still following the Dollar ahead of the Federal Reserve’s decision on rate hikes.

      1st December 2015

    • Jewellery and Gems export dip by 18 percent

      The export of gems and jewellery has dipped by 18.33% during April – October 2015 due to decline in the gold prices and weak global demand and rise in return of consignment. This sector contributes to 14% to the country’s total export. The sector is seeking a cut in gold import to ensure that there is supply of metal and also meeting export demand for the jewellery. Government has introduced incentives such as 3% interest subsidy and enhanced rate for duty that can help contain the decline.

      1st December 2015

    • RBI may not change interest rates as India’s economic growth picks up

      India’s economic growth outpaced even China’s on improving domestic demand and manufacturing. As official figures have not been published yet, experts peg the economy as having expanded by around 7.3% in the July-September quarter. Considering the steady growth, the RBI may not change the interest rates.

      Analysts and experts claim that the new goods and services tax could aid in raising the GDP growth to 8% during FY 2016-17.

      The RBI is watching its step in anticipation of the expected rate hike by the US Federal Reserve, which is scheduled to meet sometime this December.

      1st December 2015

    • Gold dips again, awaits US rate hike

      As investors ready themselves for the first U.S. rate hike in almost 10 years, the price for gold has fallen to its lowest level in 6 years, recording the steepest monthly slide in 2 and a half years.

      Investors believe that the demand for gold will take a hit from higher rates as the dollar gains, and as it is a non-interest-paying asset.In November, the value of bullion went down by around 7.5%, the biggest dip since June 2013.

      30th November 2015

    • Gold rates plunge further

      As news of the impending US rate hike gets clearer, gold rates across the globe are plunging to new depths. A strong US dollar coupled with the prospect of a rate hike have wreaked havoc on gold, with prices dropping to their lowest in 6 years. If the current trend continues, one can expect the steepest monthly drop in gold rates in the last two and a half years.

      As of today, gold rates dropped by 0.2% to trade at $ 1,055.6 an ounce, inching towards its February 2010 low of $ 1,052.46. The cost of bullion has fallen by almost 7.5% since November, its steepest monthly drop since June 2013.

      30th November 2015

    • 1% drop witnessed in gold rates

      An impending US rate hike coupled with a strong US dollar has pushed gold rates towards new lows, with a 6th continuous weekly fall in gold prices witnessed globally. Spot gold traded at $1,052.46 per ounce, down 1.3% from the previous day, with a decline of almost 2% seen over the week.

      The strong US dollar has made gold expensive for foreign investors and a federal rate hike will most likely hit the demand for gold, while strengthening the dollar. India is also expected to witness a drop in gold demand in this quarter, with a poor monsoon cutting the investment capacity of people here.

      30th November 2015

    • Gold trades below $ 1,070 in Asia

      Gold prices continued to fall globally, falling 0.29% over yesterday to $ 1,067 an ounce, edging towards this week’s low of $ 1065.7 an ounce. With profits of Chinese industrial organisations falling, a continued drop can be expected primarily on account of China being the top consumer of gold in the world.

      The impending US rate hike and thanksgiving holidays haven’t helped gold rates either, with a further drop in momentum expected.

      27th November 2015

    • Gold Prices continue on a downward spiral

      Gold rates across the globe witnessed a further drop, inching towards their lowest rates in the last 6 years. Following a 6 week trend, prices fell by 0.4%, to trade at $1,067.60 an ounce closing in on last week’s low of $1,064.95. This drop in prices is being attributed to the strengthening dollar and an impending US rate hike.

      India is also expected to purchase less gold this December, with experts of the opinion that the demand for gold could be the lowest in 8 years, primarily due to droughts and lack of demand from investors.

      27th November 2015

    • Decline in Gold Trading as Price is Affected by Tensions between Russia and Turkey

      Tensions between Russia and Turkey over Syria have contributed to a decline in bond prices ahead of the US Federal Reserve’s decision on interest rates. The London Bullion Market Association (a worldwide trade body) reported a positive and strong response to its petition from data vendors, technology firms, trading exchanges and brokers aimed at boosting liquidity, lower costs and growth in the wholesale gold business.

      Recent headlines show that a Russian jet was shot down by Turkey, and experts revealed that trading volumes will reduce to a significant extent as a result.

      26th November 2015

    • Issuance of sovereign gold bond shifted by 4 days

      The issuance of the sovereign gold bonds that was to happen on 26th November has been shifted by 4 days and will not take place on 30th November. The move has been initiated to enable smoother uploading into the e-Kuber system of the Reserve Bank of India.

      Gold bonds were announced by honorable Prime Minister Shri Narendra Modi as part of the gold monetization scheme and the first lot was opened on 5th November this year. The Prime Minister had announced three gold related instruments to hit the market under the gold related schemes. These include, gold monetization scheme, gold bonds and gold coins. The aim is to make use of the yellow metal that is lying idle in the Indian households as well as various big and small temples.

      26th November 2015

    • Geopolitical tensions push gold up in the market

      US Federal Reserve is expected to announce a rate hike due to which the gains for yellow metal is being capped. The current anticipated probability of a rate hike is 78 per cent. U.S. gold reached $1062 last week which is a six-year low. Despite the gains, gold was not able to avoid the 6 year low.

      Spot gold rose to US$ 1080.51 by 1.1 per cent. The Fed President said that if US data holds up there is a strong chance of rate being increased in December. Gold futures also got a positive push in terms of pricing. Experts are of the view that the market currently is quite volatile and anything might happen to gold rate. However, if the geo-political tension between Russians and Turks does not flare up too much the yellow metal is expected to stay in a tight range.

      26th November 2015

    • Price of Gold Increases to Rs.25,740 from Rs.25,650 per ten grams

      Following two consecutive days of decline, the bullion market saw an increase in gold prices by Rs.90 to Rs.25,740 per ten grams. The price of silver also recorded an increase of Rs.350 to Rs.34,150 per kilogram on improved offtake by coin makers and industrial units. The main reason for the increase in prices of both metals was down to the demand facilitated by the ongoing wedding season as well as a firm worldwide trend, according to bullion traders.

      25th November 2015

    • Gold Prices down by Rs.100

      Gold prices fell by Rs.100 to Rs.25,650 per 10 grams for the second day in a row. Silver price has also fallen by Rs.225 to Rs.33,800 per kilogram. In Singapore, gold retreated by one percent to 1,067.55 dollar an ounce. In New York, the gold dipped by 0.43 percent to 1,077.20 dollar. Bullion traders believe that the weakening trend in the global market amongst growing confidence in the US Fed to raise interest to help the dollar gain has eroded the demand for precious metals.

      25th November 2015

    • Gold rises 1% amidst tension between Russia and Turkey

      Gold rate showed signs of improvement when gold rose by 1% recently recovering from a six year low. This happened around the same time Turkish fighter jets shot down a Russian made war plane near the Syrian border. This incident caused the investors to rush to safety, weighing on the dollar. The yellow metal continues to remain under pressure but the Federal Reserve is expected to push ahead with a rise in interest rate next month which is a first in decades.

      25th November 2015

    • Gold prices close in on a 6 year low

      Gold prices continued to spiral downwards, nearing their 6 year low value, as gold traded at 1069.67 USD per ounce in the market, down 0.8% from the previous day. The current prices are an improvement over the rates last week, when gold traded at 1064.95 USD per ounce, the lowest since February 2010.

      This drop in gold rates has been attributed to an impending US Federal rate cut and lack of demand locally. A strengthening US Dollar has also played a major role in current gold rates, with a further drop expected in the coming months.

      24th November 2015

    • Gold rates climb slowly

      Gold rates received a push over the last few days, helping the yellow metal touch USD 1069.9 per ounce, reaching session highs of 1071.30 USD during trade early this morning, up by 0.29%. A poor performance by global equities and a weakened US dollar can be attributed to this steady climb. This rise signals changing trends in a year which has witnessed gold rates drop to new lows in June-July.

      The US dollar is expected to undergo further changes today, primarily on account of GDP numbers, thereby having a direct impact on gold rates.

      24th November 2015

    • Gold prices drop internationally

      International gold rates continued to drop, almost touching their six year low, thanks primarily to comments about a US rate hike scheduled tentatively for next month. A strong US dollar has aided this drop as prices fell by almost 0.7%, with an ounce of gold trading at $1,070.36 in the international market, just $6 higher than its cost last week. Speculation about the Fed rate hike have created ripples in the market as they strengthen the dollar.

      Experts are of the opinion that gold prices could drop as low as $1,050 towards the end of the year, with all eyes anxiously set on the US government decision.

      23rd November 2015

    • Fall in gold prices witnessed in India

      Reduced demand from jewellers and weak international trends have contributed to a fall in gold rates in the country, with prices dropping by Rs 150 as gold retailed at Rs 25,750 for 10 grams in New Delhi. Global prices fell by around 0.43% over the same time, ending at USD 1,077.20 per ounce.

      99.5% pure gold prices fell to Rs 25,600 for ten grams, down Rs 150 while the price of sovereign fell by Rs 100 to trade at Rs 22,200 for 8 grams.

      Silver prices also saw a decline, with a Rs 275 drop which saw silver trend at Rs 34,025 per kg.

      21st November 2015

    • Gold rates stabilize in Australia

      Gold prices in Australia revived on Thursday from more than five-year low in the previous session, The dollar rate fell, releasing its stranglehold on commodities and making gold more affordable for buyers paying with other currencies.

      The rate of spot gold traded up 0.3% to $1,073.61 for an ounce. Prices dropped to $1,064.95 an ounce on Wednesday, the weakest rate recorded since February 2010. US gold futures rate for December delivery increased by 0.4% to $1,073 for an ounce.

      20th November 2015

    • US rate hike bets languish gold around 2010 low

      As dollar rose, gold rates fell close to a multi-year low, as in 2010, on Wednesday. The market awaited the recent Federal Reserve meeting which could reinforce prospects of a rate hike next month.

      The gold rates were capped by a lower dollar, coupled with risk aversion after a gunfight in Paris early in the morning. The price of spot gold slipped by 0.2% at $1,068 an ounce, after dropping to $1,064.95 earlier, the lowest rate since February 2010. US gold futures rates for December delivery plunged to $1.50 an ounce at $1,067. Pressure from expectations of the US Federal Reserve rate hike, after nearly a decade, in December pushed bullion prices down in 14 out of 16 sessions

      19th November 2015

    • Gold remains at a low similar to 2010

      Another bomb scare in Europe and gunfire in Paris seemed to have affected gold rates. On Wednesday November 18, 2015, gold eked out small gains, but a firm dollar controlled prices that hit their lowest in nearly six years earlier in the session.

      The rate of spot gold upped by 0.07% at $1,071.4 for an ounce, after plunging to $1,064.95 earlier, the lowest rate recorded since February 2010. US gold futures for December delivery increased by 0.11% at $1,069.7. Pressure from expectations of the US Federal Reserve rate hike in December pushed bullion prices down in 14 out of 16 sessions

      Following the global trend, gold rates in India slipped by 2% to close at Rs 25,180 per 10gms. According to reports by Zaveri Bazaar, Mumbai, the yellow metal was heading towards the recent low of Rs 24,850 per 10 gm, as seen in this year’s June.

      19th November 2015

    • Lukewarm response on gold bonds

      The government of India in September 2015 announced two products, a new gold monetization scheme and the gold bond. The bonds were released with the aim to convert the demand for physical gold into one for financial products with gold as the underlying commodity. The gold monetization scheme was operationalized on 22 October 2015, with gold bonds being on sale from 5 November and 20 November. The bonds are being sold through post offices and banks.

      However, according to the latest data, only about Rs. 10 crore has been invested till date, with just a few days left before the sale ends. Around Rs2 crore of this has come in through post offices. The remaining Rs. 8 crores have come in largely through public sector banks that also sold the bonds at their branches. However, bankers say that investor interest in gold bonds may pick up over time if it is marketed better and initial glitches in the structure of the product are ironed out.

      19th November 2015

    • Gold rates near a 6-year low

      The price of gold fell more than 1% to the lowest price in nearly six years on Tuesday, The rate fall was a result of expectations that interest rates will be hiked in December by Fed Reserve. The dollar also rose and stocks rebounded from losses suffered after Friday's attacks in Paris.

      Spot gold rate slipped by 1% at $1,071 an ounce, after dropping to $1,065.18, the lowest since February 2010. The rate of US gold futures for December delivery settled down 1.4% at $1,068.60.

      Expectations that US Fed Reserve may hike interest rates in December, for the first time in nearly a decade, also affected bullion prices. The rates fell for 14 out of the past 15 sessions.

      18th November 2015

    • Gold prices hit lowest since 2010

      With investors bracing for the US rate hike and dollar rates increasing, the price of gold hit its lowest in nearly six years. The rate of spot gold slipped by 0.20% at $1,068.6 for an ounce after falling to $1,064.95 earlier in the day, the lowest recorded since February 2010. In India, spot gold prices were around Rs 25,100 for 10 gram on Wednesday November 18, 2015.

      Gold trading at the bullion market was also low due to a subdued demand from retailers and jewellers. A weak global trend also proved unfavorable as the yellow metal dropped by Rs. 450,at almost four-month low of Rs 25,700 per 10 grams. The rates of US gold futures for December delivery plunged by 0.12% at $1,067.3.

      19th November 2015

    • US inflation report shows gold prices at 5-year low

      With five-year low and prices below $1080, the price of gold could be sent plummeting down towards the $1000 price level. In the past 12 out of 13 trading sessions, spot gold price had closed at the lowest to expectations of an increased hike by the US Federal Reserve.

      With markets returning to normalcy post the Paris attacks, gains of 1-2% on the COMEX gold spot price Monday proved short-lived, pushing a few global equity markets higher at the open Monday. US gold futures for December delivery increased by more than 1% to a session high of $1,097.

      India, which is the world’s largest consumer of gold showed a 60% drop in October imports, which is equal 45 tonnes at last month's average afternoon LBMA Gold Price. In case gold prices drop under US$1,000 per ounce, it will spell bad news for miners who are struggling to remain profitable in these hard times.

      18th November 2015

    • 2015 records decline in gold prices

      According to Evolution Mining Ltd., Australia’s second-biggest gold producer, the yellow metal is in for a difficult phase since prices have declined about 10% this year.

      Amid the bets of Federal Reserve hiking interest rates in December, gold traded near the lowest in more than five years on Wednesday. The metal slipped to $1,065.60 on Tuesday, the lowest since February 2010. Unlike competing assets, gold doesn’t pay dividends or offer interest. The bullion rates for immediate delivery traded at $1,070 an ounce in Singapore from the previous day’s $1,070.30, when prices fell 1.2%, according to Bloomberg generic pricing.

      18th November 2015

    • Gold rates increase on par with US rate hike expectations

      Typically seen as a safe investment in times of crisis, the prices of gold rose on Monday, post the Paris tragedy. Though the attacks slowed down after an initial flow of safe-haven buying, investors' focus returned to expectations for the US Federal Reserve’s interest rate hike in December.

      Spot gold rates rose around 1.4 per cent to a 10-day high at $1,097.90 an ounce It was up by 0.1% at $1,083.76, which was above last week's six-year low at $1,074.26. The price of US gold futures for December delivery moved up by 0.3% and settled at $1,083.60 for an ounce.

      17th November 2015

    • Gold rates rise post Paris tragedy

      The price of gold rose in afternoon trading in the US and Asia in the wake of the Paris tragedy. As investors rushed to safe havens, the gold rate rose. As an impact of the tragedy, economy and tourism-related stocks fell sharply, and equity indices receded.

      In contrast gold, rebounded from the near-six-year low it reached last week. Having dropped as low as $1,073 an ounce at one point on Thursday, the price of the yellow metal rallied to $1,091 in late afternoon trading in New York on Friday. In Europe, gold rates have steadied back to around $1,091 for an ounce.

      17th November 2015

    • No change in gold rates, post Paris aftermath

      There was no change in gold rates, in spite of the lingering caution post the Paris attacks. However, as an offset there was a downward impact on the US dollar and weaker demand from major gold buyers.

      With the US Federal Reserve rate hike talks, the dollar rate has been pushed higher as a against a number of currencies, making gold more expensive in other currencies. India and China are the world’s top two gold consumers. However, the potential market for consumers has declined as a result of a weak economy.

      The rate of spot gold slipped by 0.1% or 90 cents to $1,081.40 for an ounce. It struck $1,074.26 a tonne on November 12, 2015 which was the cheapest price in more than five years. In US gold slipped by 0.3% to $1,080.90.

      17th November 2015

    • Gold demand rises by 13 percent in the 3rd quarter this year

      Gold demand rose by 13% in India from July – September, 2015 as per World Gold Council. The report also says that the demand climbed higher by 8% to 1,120.9 tonnes on the demand for bars and coins. The demand in 2014 3rd quarter was Rs.59,480 crore and it rose to Rs.62,639 crore in the 2015 3rd quarter. The World Gold Council says that the soft gold prices in the beginning of the 3rd quarter led to increase in the customer's buying gold ahead of the festive and wedding season. The gold investment demand saw a sharp rise of 6% in the 2015 3rd quarter.

      16th November 2015

    • Third Quarter of 2015 Records Increase in Demand for Gold Jewellery by 79%

      The demand for gold has increased significantly in the third quarter of 2015. The exact hike is estimated around 79% to 211.1 tonnes in comparison with the 118 tonnes sold in the second quarter of the year. The decline in prices is expected to spur demand in the final quarter of the year.

      While many jewellers made losses on gold sales in the first three quarters of the year on a year-on-year basis, optimism is high in all camps as demand is rising thanks to lower prices.

      16th November 2015

    • Gold Prices rises by 1% following the Paris Attack

      Recently, multiple terrorist attacks in Paris had killed a lot a people. Following the Paris attack, Gold price rises 1% on last Thursday. Gold being a Safe-Haven, all investors run to gold seeking protection against loss. Thus, this rush to buy this Safe-Haven asset has fueled the rise in Gold price. Spot gold rose 0.8% amounting to $1,092.10 while US Gold Futures rose more than 1% which is a session high of $1,093. Likewise silver, tracking gold, silver, palladium and platinum – they all gained nearly 1 % rise.

      16th November 2015

    • Gold hits 3-month low at Rs.25,950 per 10 grams

      Due to reduced demand by domestic jewellers and a weak trend in the global market, gold prices hit a 3-month low of Rs.25,950 per 10 grams. This fall below the Rs.26,000 mark was unprecedented, and opens up a lot of opportunities to those looking to invest.

      The US Federal Reserve was expected to hike interest rates this year, which is why investors sold bullion backed funds which obviously performed poorly because of the downturn in the prices.

      The price for silver, too, has taken a downward turn, presently trading at Rs.34,400 per kg – down from Rs.34,900 per kg just last week.

      In Delhi, 99.9% purity gold is now Rs.25,950 (down by Rs.300) for 10 grams.

      99.5% purity gold is now Rs.25,800 (down by Rs.300) for 10 grams.

      In Singapore, the gold rate went back 0.4% and is now $1080.40 per ounce.

      14th November 2015

    • Q3 2015 witnesses gold demand of 8%

      According to the report generated by World Gold Council’s Gold Demand Trends, the demand for gold climbed up by 8% year-on-year in Q32015. A number of factors such as ETF outflows and tactical investor positions helped push gold prices up.

      The Total demand for gold in Q3 2015 was 1,121 tonnes, an 8% increase in comparison to the same period last year. In the global scenario, there was a significant increase in the investment demand during this quarter, around 27% at 230 tonnes. Bar and coin purchases in Western markets were up by a third in Q3 2014. Bar and coin demand in the US reached its highest total in five years, up 207% to 33 tonnes.

      13th November 2015

    • Gold rates record lowest since 2010

      The price of gold dropped in the twelfth session out of thirteen on Friday. The yellow metal’s rate fell to $1,074.26 in the previous session, which was the lowest since February 2010. Relying on the best that Federal Reserve would hike US interest rates in December, the trading was close to a near-six-year low.

      Spot gold’s rate, on track of a fourth straight weekly dip, was little changed at $1,084.40 for an ounce. Assets of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, dropped to 661.94 tonnes on Thursday, the lowest recorded since September 2008.

      With market expectations for December’s rate hike by Federal Reserve, the bullion is experiencing pressure.

      13th November 2015

    • India, China top gold buyers in Q3

      The total demand for gold in Q3 2015, increased by 8%, in comparison to last year’s same period, and stood at 1,121 tonnes. According to the World Gold Council’s(WGC) Gold Demand Trends report, the demand for jewellery in Q3 2015 amounted to 632 tonnes as compared to Q3 2014’s 594 tonnes, which was 6% more year-on-year.

      As a result of lower prices in July and August, gold consumption was on the rise in India, China, the US and the Middle East. It was significantly higher in India, due to festival purchases which resulted in a 15% increase in jewellery demand to 211 tonnes over the period.

      India’s investment sector saw its first rise of 6% year-on-year to 57 tonnes since Q3 2014. In China, the demand for gold investment upped by 70% to 52 tonnes. This demand was stimulated by the drop in gold price in July, which was further propelled by the mid-August foreign exchange reform.

      13th November 2015

    • Bullion tumbles at a three-month low

      As a result of the bets on US Federal Reserve’s rate hike, bullion funds are being pulled out by investors. On Tuesday, November 10, 2015, assets in exchange-traded products backed by gold slipped to 1,508.57 metric tons. This was the lowest level since August 2011, when holdings were at a six-year low.

      The price of spot gold was down 0.3% at $1088.15 for an ounce. On the other hand USA gold futures for December delivery moved up by 40 cents and settled at $1088.50 per ounce. According to analysts, increase in the value of the dollar has resulted in shrinking import prices, giving buyers more commodity for their dollars. With the probability of interest rates going up and gold prices going down, the yellow metal rate can fall significantly in the coming weeks. Currently, gold bullion rates remain quite low as compared to April 2011’s all-time high, when the precious metal was priced at $1,923 per ounce, with the global economy becoming unstable.

      13th November 2015

    • Gold rises as dollar dips

      Gold prices rose up on Wednesday with dollar rates cutting some of its recent gains. However, due to the anticipated US Fed Reserve rate hike, the yellow metal experienced a three-month low due to bullion fund outflows.

      Assets in SPDR Gold Trust, which is the top gold-backed exchange-traded fund (ETF), dipped to 663.43 tonnes on Tuesday, which is the lowest since September 2008

      The rate of spot gold rose 0.2% to $1,091.55 for an ounce. The dollar index fell 0.3% after a seven-month high in the previous session. Gold reached $1,084.40, its lowest since August 7, 2015 after a U.S. nonfarm payrolls report that said there may be hiked interest rates as planned by the Fed at its next meeting in December.

      12th November 2015

    • Gold sales witness dip in Diwali

      Post a robust sale on Dhanteras, gold seemed to lose its sheen on Diwali. The demand for gold dipped as consumers stayed away from purchases during the Diwali season, in spite of an an expectation in further price decline.

      A number of analysts have forecast that gold may experience a steep fall, in case US Federal Reserve decides to increase policy rates in December, as hinted.

      On Wednesday standard gold opened at Rs 26,050 per 10g at Zaveri Bazaar. However, in the absence of physical buyers, the price slipped to Rs 26,010 per 10g. A third consecutive annual decline in return on investment, down Rs 1,480 or 5.7%, from the previous year’s Muhurat trading day, was also reported.

      12th November 2015

    • Demand for gold boosted in India

      In India the demand for gold jewelry rose, as a result of Dhanteras,the peak gold-buying festival of Diwali. It went up by 5% year-on-year from July-to-October 2014, as per the research data compiled last month by Thomson Reuters GFMS. According to the statement released by specialist analysts, it is the highest third quarter demand since 2008.

      The gold demand was weak at London pricing auction Wednesday, with a clearing price of $1085.90 per ounce. It was the lowest price in more than 4 months at the London bullion market since equities and bond prices world-wide also held in a tight range.

      12th November 2015

    • Gold rates rise, sales drop this Diwali

      India, the largest consumer of gold, has seen a slip in the demand for the yellow metal, this festive season. Unlike last year Diwali, the number of consumers has fallen markedly this year. Analysts and retailers are blaming weaker household income and change in consumer tastes, for this demand dip.

      According to a survey conducted by The TImes of India, there is no hustle and bustle in the market this year. Shopkeepers have stopped anticipating since there is no good sale during this festive season, with sale of jewellery being low this time.

      Traditional jewelers and other stores have also reported poor demand so far, as low as 50%, in comparison to 2014.

      11th November 2015

    • Probable 5-7% hike in gold by next Diwali.

      An all-time low investment demand and expected rate hike by US Federal Reserve led to the fall in demand of gold. Bullion dealers were affected due to high cost inflation and shift in investment preferences of consumers. However, according to the current scenario, there is a possibility of a 5-7% hike in the investment of physical gold by Diwali, next year.

      As per sources, gold has been trading lowest for the first time in 20 years. At present it is trading at $3 as compared to previous year’s $22. The yellow metal has experienced a negative return and the downturn is expected to be there for another year. The government's initiative to curb imports, with gold monetisation schemes, has also weakened gold buying on the global front. Another reason for gold price fall was a sharp dip in the precious metal’s investment demand.

      According to data released by World Gold Council (WGC) for the July quarter, the demand for gold was 346.2 tonne during January-June 2015.

      11th November 2015

    • Indian jewellers in demand in the UAE

      With Diwali going on, the excitement to buy gold is at an all time high. With gold prices falling low, a number of jewellers are hosting some of the biggest promotions for the festive season.

      India-based jewellers, Malabar Gold and Joyalukkas Jewellers, are enticing buyers with attractive offers. Malabar Gold has offered up to 250 gold coins that can be won through raffles with the purchase of gold jewellery worth Dh2,000. The jeweller is also offering a 1g gold coin free with Dh2,500 worth of diamond jewellery.

      Joyalukkas Jewellers have offered a chance chance to win up to 30kg gold in a raffle draw on purchase of Dh500 worth of jewellery. In addition, there is also a 50% discount on the special Diwali collection of diamond and polki jewellery.

      11th November 2015

    • Indian gold ups against dollar

      Gold bars imported into India have moved to a premium against dollar spot prices, on Tuesday. This is the first time since August as demand for the yellow metal continued to rise as a result of Diwali.

      According to an Ahmedabad-based dealer, the increase in Indian premiums has been because of to higher demand, as a result of lower dollar prices, and a reduction in custom duties for imported gold.

      The variable import duty was slashed to Rs. 2,413 for 10 grams ($112.99/oz) as compared to last week’s Rs. 2,543.33 for 10 grams. On Tuesday, November 10, 2015 the Platts gold premium India was assessed at $2 per ounce t against London’s price that increased up $2 for an oz from Monday, with stronger demand across India for Diwali.

      10th November 2015

    • Dhanteras to attract gold buyers today

      The Indian gold market is expecting almost 70% rise in gold sales on this Dhanteras. It is predicated that the price of gold may fluctuate between Rs. 26,200 to Rs. 28,200 per 10gm on Dhanteras. Over the past few years, there was a decline in sales of gold considering its high price. This year too, the price of gold has not come down. Its high rates continues to be steady.

      However, compared to other volatile means of investments, gold is still retains it power of investments. Being a decent investment option, gold may attract certain categories of buyers on this Dhanteras. Many people, who cannot afford gold at its current price, have opted for 1 gm/ 2 gm gold jewelries, and gold coins of lesser denominations such as 2 gm, 5gm and 10gm. Many buyers are also seen buying gold-plated ornaments and framed idols of Lord Ganesha and Goddess Lakshmi which come under the price range of Rs. 5,000 to Rs. 6,000.

      9th November 2015

    • Weak economic environment may affect gold sales on this Dhanteras

      It is expected that gold sales may slow down this Dhanteras because of poor monsoon and weak economic environment. Considering the launch of three gold schemes by Prime Minister Narendra Modi, there may be a demand for investment related items such as gold coins of lesser denominations such as 2gm, 5 gm and 10gm and gold plated frames of Gods and Goddesses. However, compared to the last year, this year the sales of gold on Dhanteras may go up slightly.

      9th November 2015

    • Jewellers put their trust in ornaments for Dhanteras!

      Jewellers are eagerly looking forward to Dhanteras which falls on 9th November 2015, monday. Indians believe in Dhanteras just as much as they believe in the power of gold and flock to jewellery stores to purchase gold and silver as it is said to be auspicious. NRIs engage in the tradition too.

      The price of gold dropped by Rs.400 on thursday and the price of 22 carat gold stands at Rs.25,460 per 10 grams while the price of pure gold rests at Rs.27,229 per 10 grams. According to jewellers, people are opting for ornaments over bullion. Jewellers are expecting orders for ornaments over the weekend to be delivered on time for Dhanteras.

      6th November 2015

    • Gold Price falling down

      Following the United States Nonfarm Payrolls report, Gold price has gone down seven-week low on Thursday. As per the consensus forecast report, there will be job growth of 18, 0000 in the month of October. In September, the growth increased up to 142,000. The same report also forecast that unemployment will remain steady at 5.1%.

      The delivery of gold on the Comex division of New York Mercantile Exchange for the month of December is tagged on $1.50. Recently, gold prices came down to $1,105.60 followed by the predictions made by US Federal Reserve Officials about the rise in US Interest Rates in December. This fall in gold price is the lowest one since September 15.

      06th November 2015

    • New Gold schemes to boost investors interest in Gold

      The new gold schemes launched by the government of India are likely to boost the confidence of gold investors and bring them back to the gold market. Considering the economic potentialities of gold, the Prime Minister Narendra Modi recently launched three gold related schemes in India namely – Gold Monetization Scheme, Sovereign Gold Bond Scheme and India Gold Coin. Jewelers and gold traders seem very hopeful about the outcome of this launch.

      Consumers of gold in India show a keen interest in the gold coin called India Gold Coin - the first gold coin introduced in India. The image of Ashok Chakra is minted on the India Gold Coin and soon it will become a part of the International basket of coins. The India Gold Coin is available in denominations of 5 gram, 10 gram and 20 gram. Initially, the 5 gram coin was priced at Rs 2,500, 10 gram at Rs 5,000 and 20 gram at Rs.10000. But, the rates were revised immediately after the launch. The revised rates for the same are - for a 5 gram Rs.14, 600; for 10gram, Rs 57,600 and for 20 gram, Rs 28,900. These prices are exclusive of VAT and other taxes. Currently, these coins are available at 18 outlets of MMTC. Going forward, all Indian banks will market these coins.

      It is expected that there will be a huge demand for these gold coins/schemes during Dhanteras which falls on 9th November, 2015. Going forward, these schemes may boost the demand for investment in gold.

      6th November 2015

    • Gold prices remains flat after overnight plunge.

      After the overnight plunge, gold prices remained flat during Asian trading hours after US dollar soared on Wednesday. The gold price stooped to $1,106.40 after the overnight plunge. Federal Reserve chair Janet Yellen remarked that there might be a possibility for a rate rise in December. This was discussed at the US Federal Open Market Committee’s meeting at Comex market in New York. Market participants see the chance of a rate hike at 56% now as compared 52% a few days ago. Gold for December delivery remained unchanged on the Shanghai future exchange.

      5th November 2015

    • 3 new Gold Schemes launched today.

      The Prime Minister Narendra Modi has launched launch 2 new gold schemes namely Gold Monetization Scheme and Sovereign Gold Bonds, and the first ever gold coin in India called “ India Gold Coin” today. The main purpose behind the launch of these gold related schemes is to reduce the physical demand for gold in India and use the power of gold to boost the country’s economic strength.

      The India Gold Coin will have Ashoka Chakra imprinted on it. Currently, the coin will be available in denominations such as 5gm and 10 gm, and 20gm bullions with a hallmark by BIS.

      The Gold Monetization Scheme (GMS) will help people earn interest on their idle gold by investing it under this scheme. The scheme will accept a minimum deposit of 30 gram. There is no upper limit of investment under this scheme. This new gold scheme is expected to replace the existing Gold Deposit Scheme in India.

      Under the Sovereign Gold Bond Scheme, the Reserve Bank of India will issue bonds. The Sovereign Gold Bond Scheme is promoted under the tagline “Invest Wisely, Earn Safely” to encourage people invest more in gold. This scheme would accept a minimum contribution of 2gm gold and a maximum contribution of 500gm.

      5th November 2015

    • Federal Reserve cause more damage to already shaky gold price!

      Comex market in New York witnessed a seven week low as the gold futures with December delivery date fell for a sixth session in row. Gold fell to a five year low at $1,085 last august and the rate reduced by more than $75 an ounce or 6% from the previous rate to $1,107 an ounce on Wednesday. Fed chair testified before the House Financial Services Committee and spoke about the possibility of a rate rise when the bank meets at the end of the year in December.

      5th November 2015

    • Gold prices drop on account of impending rate hike

      Gold prices fell globally as speculation of an impending US Federal Reserve rate hike hit markets hard. Gold rates dropped by 0.25% in London, with an ounce costing USD 1,132. These rates are at their lowest in the last month and analysts are of the opinion that any changes in the US policy could have a huge impact on gold rates.

      Experts believe that gold rates might drop further in the coming weeks, with all eyes on the United States of America.

      4th November 2015

    • 2.75% interest on sovereign gold bonds

      Reserve Bank of India plans to issue sovereign gold bonds on November 26, 2015. The application for the bonds will be accepted from November 5 to November 20, 2015. The public issue price is fixed at Rs 2,684 per gram for the sovereign gold bonds. A fixed interest rate of 2.75% per annum, which is payable every 6 months, can be availed on the initial investment value.

      A minimum of 2 grams or 2 units and a maximum of 500 grams can be invested in the bond scheme. The minimum amount to be invested is Rs. 5,400. The bonds will be denominated in the amount of gold invested and linked to the metal’s price. In case the gold rate goes up, the value of the bond automatically increases, thus benefitting investors.

      The price of spot gold rose up by 0.1% to $1,134.60 for an ounce, but close to a four-week low of $1,132.35 reached in the previous session. The metal slipped for a fourth consecutive time on Monday.

      November 04, 2015

    • New gold deposit schemes introduced on November 5

      The government has launched four gold-related investment schemes on November 5 two days before Dhanteras. The gold monetization scheme (GMS), along with three other gold-related schemes will be inaugurated by Prime Minister Narendra Modi 5th November 2015. Under the GMS, people can deposit raw gold, in the form of bars, coins, and jewellery without stones, up to 30 grams. This scheme does not have a maximum limit.

      Gold deposits under the short-term tenure (1-3 years) will receive 2.25% interest on the current gold rate. Long term investment with a tenure of 12-15 years will fetch around 2.5% interest. People can also deposit in the medium term tenure, whose maturity is 5-7 years.

      4th November 2015

    • Gold slips to a four-week low

      Gold steadied after a four-day decline on Tuesday but suffered another low. The rates were affected since investors feared that US Federal Reserve hike may influence the price of the precious metal. Traders even warned of a further price drop.

      Gold prices had rallied last month on the speculation that the slowness in the global economy could prompt the Fed to delay the rate hike to next year.

      The price of spot gold rose up by 0.1% to $1,134.60 for an ounce, but close to a four-week low of $1,132.35 reached in the previous session. The metal slipped for a fourth consecutive time on Monday.

      3rd November 2015

    • Gold rates slide ahead of Fed hike uncertainty

      The price of gold is set to slide below $1,100 for an ounce in the final quarter of 2015. The rate of this precious metal still remains under pressure till US rates normalize, according to a new forecast.

      The predicted price of $1,100 price in the fourth quarter will amount to $1,159 per ounce in 2015, which is the annual average price of the yellow metal. Gold prices, which reached above $1,180 last Wednesday before the Fed news, slipped to around $1,140 in the early Friday session. On Thursday, gold further reduced by $28.80, or 2.45%, after the Fed declared that a December rate hike was still in consideration.

      3rd November 2015

    • Sovereign Gold Bonds Raise Hopes

      Gold investors in India are a happy lot, primarily due to the new Sovereign Gold Bond Scheme launched by Prime Minister Narendra Modi. Under this new scheme, investors can earn a fixed interest of 2.75% per annum, payable half yearly on their investment, heralding a new era for Indian gold investors. This scheme will help gold owners monetize their gold, ensuring that gold doesn’t become a dead investment.

      Bonds will be issued by banks and can be redeemed at maturity. With the minimum initial investment being 2 grams of gold, this scheme aims to cash in on our love for gold, offering additional benefits to investors.

      02 November 2015

    • Refiners rush to get BIS mark as the launch of Gold Monetization scheme nears

      Gold refineries have been running low on the supply of gold owing to the falling rates of the precious metal. The refineries are now running to get the BIS mark (Bureau of Indian Standards) before the launch of the government’s Gold Monetization Scheme. The move, the refiners believe will lift their business which has been slow due to the lack of scrap gold.

      Supply of gold was cut by about 20% since last year. This is majorly due to falling gold prices which have led customers to hold on to the gold that they possess and to not sell it. The government's Gold Scheme is aimed at freeing up around 20,000 tons lying across the Indian households so as to reduce the dependency on gold imports.

      2nd November 2015

    • A dip of 45.6% in gold imports in September

      A continued dip in the prices of gold in Indian as well as global market has led to a severe dip in gold imports for the month of September. The development will however, check India’s current account deficit.

      In September 2014, gold imports stood at USD 3.78 Billion. The imports saw the sharpest rise in the month of July and August after which they dipped by about 45.6%. Indian is the largest importer of gold across the globe and the huge demand of this precious metal is majorly to cater to the jewelry needs of the Indian population. Last year, gold was the third largest item to be imported after crude oil and electronics. In the recent past, CAD had been widened due to increased gold imports. A widened CAD occurs when the value of imports exceeds the value of exports for a country.

      2nd November 2015

    • 4 week low for gold as market fears US rate hike

      As the market feared the hike of US interest rates, the rates of gold fell to a 4 week low. The picture for the yellow metal has been gloomy for quite some time now in both the domestic and the global markets. Physical demands for the metal and investor flows have also been unsuccessful in reviving the stature of the metal.

      Gold rallied last month since there were speculations for the Federal Reserve hiking rates only next year. Asian markets saw an upward movement in the demand for gold as the prices fell further. This sudden high demand is also attributed to the wedding and festive season set to begin in the Indian subcontinent.

      2nd November 2015

    • Gold remains questionable as the country nears Dhanteras

      The festival of lights and buying gold is nearing. Dhanteras is a time when gold is consumed in huge quantities in the Indian subcontinent. However, the soaring prices of gold till last year had kept the buying of the yellow metal restrained. However, the current falling trends in the price of gold have prompted customers to buy more gold.

      Light-weight jewellery will still be the favourite since it is lighter on pocket and easier to wear and carry. However, the main trouble for jewellery store owners is that although the prices of gold have dropped considerably the buying trend also is showing no improvement as the dip in gold buying continues. Sellers are hoping that the market will pick up as the country nears the festival of lights.

      2nd November 2015

    • Gold continues troubled as scrap prices fall and Gold Futures hit a new low

      Gold has not been able to come out of its price double since a long time now. In the US, gold scrap fell to even lower prices as Gold Futures hit a record 3 week low. The metal has been facing problems in almost all major countries of the world and no step to revive the metal prices has worked till now. Experts believe that relief will be experienced only when the metal stabilizes naturally without any interference from the government.

      The 9ct hallmarked gold prices fell to $417.803 per ounce on Thursday. Gold Futures prices also fell owing to the anticipation of rate hike by the Federal Reserve.

      1st November 2015

    • Better returns expected out of Gold Bonds than ETFs

      Honourable Prime Minister Narendra Modi is to launch a gold monetization scheme on 5th November, 2015. Experts are of the view that customers looking to invest in the precious yellow metal should opt for this scheme rather than for gold ETFs which might not prove as rewarding as the Gold Scheme. The returns expected out of gold Bonds will be around 350-375 basis points higher than the Gold ETFs.

      The sovereign Gold Bond Scheme will offer a rate of interest of 2.75% per annum which will be double-fold since this scheme will not charge 0.75-1% expense ratio that is applicable on Gold ETFs. ETF investors who have no love for physical buying of gold will find this scheme especially lucrative as compared to Gold ETF. The interest on the Gold Scheme will be paid out half-yearly to customers who avail this.

      1st November 2015

    • China increases gold import

      Retail investors in China are stocking up on gold instead of stocks and shares. Due to this the net gold imports from Hong Kong have gone up from 59.3 tonnes in August to a huge 97.2 tonnes in September.

      According to the Hong Kong Census and Statistics Department statement, there has been a recorded rise in imports from the last three months. With the demand for shares dying down due to the series of sudden crashes in the stock market, most of the people have started investing in gold. The Reuters report also stated that the demand for gold normally increases before the Chinese New Year.

      29th October 2015

    • Gold prices retain again ahead of policy

      Gold continued to gain small on Wednesday October 28, 2015. However, it was a cautious buy ahead of the policy statement issued by Federal Reserve that would reveal the details of the US hike rate. There was little change in spot gold priced at $1,165.81 an ounce. The value of gold rose to percent in the previous session, breaking the jinx a four-day losing streak.

      In China’s physical markets, the net amount of gold imports from main conduit Hong Kong increased to a 10-month high in September. According to the data revealed on Tuesday, this serves as a strong sign of recovering gold demand in the second half of the year.

      29th October 2015

    • Rate of gold at a 2-week low

      Gold prices slightly rose up but remained around its lowest level on Thursday. This rate change came two weeks post the Federal Reserve hinting of a possible hike in US interest rate in December. It further improved the dollar rate thereby reducing the non-interest-paying bullion’s appeal.

      The price of spot gold appreciated to 0.3 per cent at $1,159.50 for an ounce preceded by 1% downfall in the previous session. On Wednesday the gold rate fell to $1,152, recorded as the lowest since October 13. The rate of the US gold reserves also slipped down over 1% on Thursday.

      29th October 2015

    • Gold prices bounce back

      After a three-day losing streak, the price of gold rose at the bullion market by Rs. 40 reaching Rs. 27,110. The price rise was a result of a firm global trend where jewellers were buying at prevailing levels.

      Globally, the price of gold rose 0.23 per cent to $1,165.60 for an ounce and silver by 0.35 per cent to $15.90 an ounce at the London bullion market. In the national capital, gold with 99.9 and 99.5 per cent purity appreciated by Rs 40 each to around Rs 27,110 and Rs 26,960 per ten gram, respectively, after experiencing loss of Rs. 265 in last three days. The price of sovereign, remained constant at Rs 22,400 per piece of eight gram.

      29th October 2015

    • Hedge funds increase gold share prices

      There was an increase in the share prices of gold ahead of the US Federal Reserve’s announcement on the rate of interest for gold. The hedge funds may further push the rate to an 8-month high.

      At present gold rate is stable at 5%, before the September meeting of US Federal Reserve, which decided that the rates will not be lifted from near-zero. October 15 saw the highest level in the gold rate, since June 22. Fresh indications in the market suggest that a slow US economy may influence gold’s rate hike, first time in 9 years, further in the future.

      New York’s Comex market revealed that the rates of gold to be delivered in December remained unchanged at $1,164.10, up $1.40 as compared to Friday's closing of the trade.

      29th October 2015

    • Gold value rises before Fed statement

      Gold gains an upper edge before the latest policy statement of the Federal Reserve. The price stopped at $1,172 for an ounce on Wednesday. The rate increased above the metal’s 200-day moving average from $1,170. This level was breached in the first week for October, over an expected rise in the rate of interest in the US. This has happened for the first time since May.

      The price of spot gold rose up by 0.6 percent at $1,173.31 per ounce. The gold reserves for delivery in December valued up $7.90 for an ounce, stopping at $1,173.70.

      29th October 2015

    • Hedge funds increase gold share prices

      There was an increase in the share prices of gold ahead of the US Federal Reserve’s announcement on the rate of interest for gold. The hedge funds may further push the rate to an 8-month high.

      At present gold rate is stable at 5%, before the September meeting of US Federal Reserve, which decided that the rates will not be lifted from near-zero. October 15 saw the highest level in the gold rate, since June 22. Fresh indications in the market suggest that a slow US economy may influence gold’s rate hike, first time in 9 years, further in the future.

      New York’s Comex market revealed that the rates of gold to be delivered in December remained unchanged at $1,164.10, up $1.40 as compared to Friday's closing of the trade.

      29th October 2015

    • Gold value rises before Fed statement

      Gold gains an upper edge before the latest policy statement of the Federal Reserve. The price stopped at $1,172 for an ounce on Wednesday. The rate increased above the metal’s 200-day moving average from $1,170. This level was breached in the first week for October, over an expected rise in the rate of interest in the US. This has happened for the first time since May.

      The price of spot gold rose up by 0.6 percent at $1,173.31 per ounce. The gold reserves for delivery in December valued up $7.90 for an ounce, stopping at $1,173.70.

      29th October 2015

    • Gold rates steady before Federal Reserve meeting

      The price of gold stabilized at $1,160, before the Federal Reserve meeting that happened on Tuesday. Spot gold was priced at $1,162.45 for an ounce from Friday’s rate of $1,162.80. The rate of US gold futures for delivering in December this year slipped down $3.50 an ounce at $1,162.70.

      The gold prices were at the highest since June as a result of the rate hike in the US. The rising rate of interests in U.S.would weigh on gold, since there will be an increase in the opportunity cost of holding non-yielding bullion, while boosting the dollar, according to its current price.

      28th October 2015

    • Gold Rates Steady after a Slip

      The price of gold, after a three-day dip, steadied as the dollar’s rate rise faced uncertainty as against the U.S. Federal Reserve rate. The rate of spot gold rose up to 0.02% at $1,164.10 for an ounce. However on Friday the rates dropped to to $1,158.77, the lowest since October 13, when dollar rates increased to the highest level after more than two months.

      On Friday, gold again slipped by 1% after China's surprise interest rate cut. The investors expected that the US Central Bank would delay the rate increase due to the fluctuations in the global economy. The rate for US gold futures to be delivered in December, rose up by 0.3% at $1,166.20 per ounce.

      28th October 2015

    • Gold rates increase post Fed’s inaction on rate hike

      The rates of gold increased after the announcement that Federal Reserve’s meeting had nothing on rate hikes for this year. In case US currency is pushed higher, then there can be a potential impact on the US industry.

      According to traders, in case the gold price rises above $1,190 after the conclusion of the meeting, there may be chances of the price increasing to around $1,200 sparking another episode of short covering. After an hour of trading, spot gold prices settled at $1,178, which is $12 higher than the previous rate.

      With an overall consumption of 642 tons, India was yet again confirmed as the world’s largest consumer market for gold.

      28th October 2015

    • Survey Reveals that China is Overtaken by India as Biggest Gold Consumer

      India has moved up the ladder to become the biggest gold consumer in the first three quarters of 2015. The total consumption recorded by the country is 642 tonnes, according to a survey. China consumed only 63 tonnes less than India over the past nine months, with the recorded figure according to GFMS Gold Survey standing at 579 tonnes.

      The consumption of gold in India recorded a 5% year-on-year increase. The total consumption in the third quarter alone was 193 tonnes, making it the highest quarterly consumption ever.

      27th October 2015

    • Indian gold coins reduce dependence on imports

      The first lot of Ashok Chakra India gold coins' is expected to reduce the dependence on imported coins and also generate some investment demand. This move launched by Prime Minister Narendra Modi has been warmly welcomed by traders and jewellers.

      According to industry reports, approximately 60 tonnes of gold coins are imported annually in India, which are then sold at a premium rate of 8-10%. The first lot of the Ashok Chakra gold coins has around 50,000 coins out of which 30,000 coins will be of 10 gm and the remaining 20,000 will be of 5 gm. The coins, manufactured by the Security Printing and Minting Corporation of India, will be sold through banks, post offices and state-run MMTC, which will sell them through the World Gold Council.

      27th October 2015

    • New Gold Schemes This Diwali

      The Indian government has decided to launch gold monetization schemes this festive season. Under this scheme, people can deposit gold with banks and earn an interest on it. Banks will be accepting deposits of a short-term with maturity ranging between one and three years; a medium-term with a five to seven years horizon; and a long-term deposit maturing in 12-15 years

      The country consumes approximately 1,000 tonnes a year. With most of the gold being imported, the monetization plan is a way to keep this precious metal in the country and avoid a situation, similar to 2013, when high imports of gold pushed the country into a deficit of $190 billion.

      27th October 2015

    • Rise in gold prices on London spot market

      Gold prices witnessed a 0.3% high at $1,167 on the London spot market, from an eight-day low of $1,159. The rates were revealed at the two-day US Federal Open Market Committee meeting. The report from recent months showed that the price of gold is affected due to US monetary policies. According to the Federal Reserve, the price increase can happen before 2015 ends.

      The statistics of the US Commodity Futures Trading Commission, according to Commerzbank, revealed the rising prices of gold during the third week of October. The prices rose to the highest level on October 20, since February this year.

      27th October 2015

    • Gold Rates Increase After a Two-Week Low

      Gold prices rose on Monday after a two-week low, as the dollar demand continued to improve prospects of higher rates of interest in the US. After October 13, gold hit an all time low on Friday after a 1% rally, at $1,163.3 post China’s Central Bank cut the rate of interest unexpectedly.

      On Friday, the dollar value reached its high in the two-and-a-half month period, as compared to other major currencies. The reason for the value increase was China’s rate cut, following which the value reduced a bit on Monday. The rate of silver and copper are expected to rise in December this year. Silver is expected to increase up to 0.52% at $15.91 per ounce, while on the other hand copper may go up to 0.89% and be sold at $2.371 per pound.

      26th October 2015

    • Prime Minister announces Gold schemes launch before Dhanteras

      On his monthly radio address “Mann Ki Baat” Prime Minister Narendra Modi said that he would launch a gold monetization scheme, that would help investors earn interest from gold and gold bonds. The scheme is set for launch before Dhanteras. The scheme would not give an investor gold in the physical form but he/she would earn interest in line with the market price when redeemed. He’s hoping to push the bonds, to help reduce the demand of physical gold and make the investor’s invested amount an actual financial instrument. The launch will also include the India gold coin and bullion..On his monthly radio address “Mann Ki Baat” Prime Minister Narendra Modi said that he would launch a gold monetization scheme, that would help investors earn interest from gold and gold bonds. The scheme is set for launch before Dhanteras. The scheme would not give an investor gold in the physical form but he/she would earn interest in line with the market price when redeemed. He’s hoping to push the bonds, to help reduce the demand of physical gold and make the investor’s invested amount an actual financial instrument. The launch will also include the India gold coin and bullion.

      26th October 2015

    • Gold prices fall as Dollar gets stronger

      A jump in the value of Dollar has resulted in gold getting even weaker on the London Spot Market. Gold prices have been on a roller coaster ride since the past few months. The prices of this precious metal have been falling consistently, leaving investors in a bit of a hassled situation. Consumption of gold in India is primarily for wedding and festive purposes, however, a lot of investors have realized its huge potential as an investment tool. Investing in gold, either physical or liquid form (Gold ETFs etc.) is becoming an increasingly popular trend around the globe.

      22nd October 2015

    • India Gold Coin to be launched by PM Modi

      Honorable Prime Minister Shri Narendra Modi is all set to launch the India Gold Coin bearing the Ashok Chakra, on November 5th. The coin will feature in two denominations namely, 5 mg and 10 mg. Modi will also be announcing two gold schemes, Gold Monetisation and Sovereign Gold Bond Scheme, with the sole aim of mobilizing 20,000 tonnes of gold that is lying idle with most Indian households and temples. These schemes will be launched to cash on the Diwali festivities which are closely interlinked with gold sale.

      Indians are quite fond of gold especially when it comes to festivals and weddings. The sale of this yellow metal shoots considerably during auspicious periods.

      22nd October 2015

    • Gold capped below $1180, withdraws in Asia

      The yellow metal retreated in Asia and closed below $1180 on Wednesday. Gold is traded consistently at $ 1177.50 these day, after posting highs of $ 1179.20. The gold bullion is one high demand as it is one of the purest forms of gold and is used heavily by investors who are looking to invest in the precious metal. Gold has an immediate resistance of 1180.70 dollars which is the high price expected for October. The price of the metal is expected to fluctuate based on performance of the European and US markets.

      22nd October 2015

    • Gold and silver recover as market goes upbeat

      Following a recovery at the international markets, gold and silver both rebounded. Gold did way with its sluggish price pace and the standard gold bullion rose by Rs.135 to close at Rs.26.865 per 10 grams as compared to Rs.26,763 earlier. Pure gold on the other hand also rose by a margin of Rs.135 and finished at Rs.27,015 per 10 grams as compared to Rs..26,880 previously. Silver too saw a rise in price of pure silver at Rs.105 per kg and closed at Rs.37,435. Globally, gold was able to rise in the European market after Euro recovered a bit against the rising dollar.

      22nd October 2015

    • Gold seems set to make a positive comeback

      As against the sluggish growth rate in the previous and current year, gold is expected to make a substantial comeback by the end of this year. Gold’s comeback is coinciding with the weakening of the US dollar. There is good news for both gold, silver and other precious metals that are expected to see a price rise in their value. One of the most important factor affecting the global gold process is the beginning of festive and wedding season in India which is the largest consumer of gold and other precious metals. This is one major reason which has caused this spike in the demand and subsequent price of gold.

      22nd October 2015

    • With Navratri festivities in full swing, gold prices and jewelry sales soar

      Jewelry sale and gold prices soar with one of the most auspicious festival in the Hindu calendar, Navratri. The prices were up by almost Rs. 600 - 700 per 10 grams in the last 2 weeks. The increased number of customer walking into retail outlets also have increased as they have come to buying jewelry. Most customers are looking at purchasing gold ornaments of pure nature over ones with diamonds, precious stones. Lightweight jewelry seems to be the flavor of the season. During these 9 days of Navratri the sale of gold is expected to hit at least a 5% - 7% increase, when compared to last years sale. Diwali is another fruitful and key period for gold buying for customers.

      16th October 2015

    • Gold prices rise by Rs. 115 with the on going festive season

      The second day of gold prices rising, the prices are now up by Rs. 115, and it now costs Rs. 27, 300 for ten grams. The recent activity at jewelry stores as well increased with customers flocking in this festive season to purchase the precious yellow metal. The prices of silver also rose by Rs. 100 and now selling at Rs. 37, 400 per kilo. With the ongoing festivities and the upcoming wedding season gold prices are likely to further increase. On a global level as well gold prices have increased, in Singapore gold has increased by 0.14% and is now $ 1, 186 per ounce.

      15th October 2015

    • With the delay of the US Federal rate hike, Gold prices are at a 3 month high

      Gold prices held a 3 month high, thanks to a weak dollar and on the hopes of the delay of the US Federal rate hike. Gold has slightly eased to a price of $1, 166.40 per ounce, and on Monday the metal has increased its price to $1, 169 per ounce its highest since the 7th July 2015. With the dollar taking a hit on Tuesday, Meanwhile, in the physical markets, Discount in India widened to a 3 month high this week with demand being ample with demand being sluggish. And other Asian markets lacklustre when it comes to the precious metal

      14th October 2015

    • Gold prices fall even further by Rs. 145 over weak global cues

      Gold prices fell further by Rs. 145 resulting in the current price of Rs. 26, 643 per ten grams in the futures trade. The Multi Commodity Exchange for gold delivery in December was also trading at a lower of Rs. 145 in a turnover of 728 lots. In the next year delivery for February 2016 the prices are estimated to fall to Rs. 139 for 32 lots to Rs. 26,850 per 10 grams.

      14th October 2015

    • Discounts on gold at a 3 month high

      In India the discount on gold are at a 3 month high, with the retail demand being sluggish even with the ample supply. In other places in Asia, is also low, with the top market China having a very moderate demand in lieu of the holiday season. The Indian market being the second largest consumer of gold, retailers and dealers are providing consumers with a discount of $ 7 - $ 11 (US Dollar) for an ounce to the benchmark globally as compared to the $6 - $8 (US Dollar) last week.

      14th October 2015

    • Gold and Silver prices fall with weak global cues and low demand

      Gold of 99.9% and 99.5% purity fell by Rs. 70 each in the bullion market in Delhi. The prices per ten grams now stands at Rs 26, 800 for 99.9% purity and Rs. 26, 650 for 99.5% purity. The weak trend globally, fell from a seven-week high with a fall in demand from jewellers and putting the pressure on the price of the precious metal. Even Silver also fell by 0.7% to $15.71 for an ounce. Prices of silver coins also fell by Rs 1,000 to Rs. 51,000 for buying and Rs. 52,000 for selling for 100 coins.

      14th October 2015

    • India raises gold import tariff value

      The gold import tariff value has increased by 2.50%. Central Board of Excise and Customs has raised the import tariff to $368 for 10 grams of gold. The gold trade has remained volatile during the past week. But, the gold prices continued to dip further on London Session. The tariff value is the base price on which the custom duty of the imported gold is calculated. This prevents under-invoicing.

      8th October 2015

    • Gold prices rise

      Gold price of 99.5 purity rose by Rs.75 and the 99.5 purity gold rate closed at Rs.26,270. Pure gold of 99.9 purity increased to Rs.26,495. The prices hiked to its highest in nearly two weeks. Gold has bolstered the metal’s safe haven appeal as it has widened US trade deficit data and lowering global growth forecast for a fourth successive year. The gold prices were highest and was at USD1,152 an ounce in early European trade.

      7th October 2015

    • Gold prices going up, as does the demand for jewelers

      With the wedding season upon us, the demand for jewelry has led to an increase in price for gold by Rs. 50. The current price as on 6th October 2015 stands at Rs. 26, 650 at the bullion markets. Silver as well had a upward journey and increase by Rs. 750 making it stand at a price of Rs. 36, 700. On the global front as well gold prices rose by 0.23% to a price of USD 1,138.50 for an ounce and silver had a slight change making it USD 15.66 an ounce in London.

      6th October 2015

    • Gold prices are now higher by Rs. 660, the first for the year

      Gold hit an all time high of the year with an increase of Rs. 660, to trade at Rs. 26,810 per ten grams for 99.9% and Rs 26,660 for 99.95% as on Saturday 3rd October 2015. In Delhi, gold with the purity of 99.9% and 99.5% saw a hike in price by Rs 660 each the highest of the year, the price had gained Rs 600 earlier on August 12th.

      5th October 2015

    • Government’s gold bond scheme widely accepted

      The gold bond scheme introduced by the government has been widely accepted as the practice of investing in gold is high in the country. on Wednesday is a clear winner since the idea of issuing gold bonds can absorb a major part of the gold investment demand in the country.

      At present approximately 300 tonnes of gold bars and coins are purchased in India every year for the sake of investment. Most of the gold used for investment purposes is imported. Under the new scheme, investors can put their money in bonds, which will be backed by gold.

      According to the gold bond scheme, bonds worth 500 grams of gold can be bought per year. The government has roped in RBI to issue bonds on its behalf. Investors can also avail loans against these bonds or trade in mutual funds using these papers.

      10th September 2015

    • Renewed demand, seasonal support improve gold sale

      After witnessing a three-day downshift, the price of gold rose at the domestic bullion market. This modest increase is a result of the upcoming festive season, as jewellers and stockists increased buying of this precious metal.

      Standard gold (99.5 purity) appreciated up by Rs 70 to end at Rs 26,395 per 10 grams from Friday's closing level of Rs 26,325.

      Pure gold (99.9 purity) also moved up by a similar margin and settled at Rs 26,545 per 10 grams in comparison to the previous amount of Rs 26,475.

      5th September 2015

    • Gold demand down 20% in response to an 8% rise in gold prices

      Gold prices rose about 8% to Rs. 26,895/10g resulting in a dip in demand of about 20% as reported by two leading jewellery houses in the country.

      Gold prices had fallen to Rs.24,843 on the MCX in August as investors awaited news on possible rate hikes by the US Federal Reserve. Prices have since risen as the US has put off making this decision in the face of currency devaluation by China.

      Lower gold rates were expected to drive demand and retail gold purchasing during the upcoming festival season. However, higher rates will curb demand unless a considerable correction occurs.

      4th September 2015

    • Dollar slips as gold value increases in China

      As the dollar and other global equities slipped down, the rate of gold rose by 1% on Tuesday. This economic weakness in China comes during the Federal Reserve’s first interest rate hike, after almost a decade.

      With domestic and export orders shrinking at a faster rate in the three years that China has ever witnessed, the global markets are getting affected. It has increased fears that the second-largest economy in the world may be heading for a downfall.

      Spot gold increased to $1,147.16 an ounce and was up 0.4 percent ending at $1,139.25 an ounce, while U.S. gold for December delivery appreciated up 0.6 percent steadying at $1,139.80 an ounce.

      1st September 2015

    • Drop in gold prices in India

      Domestic gold rates saw a fall in the bullion market, as prices fell by over Rs 200 to end at Rs 26,240 per 10 grams in Mumbai. The current drop in gold rates could be attributed to selling of gold by investors and stockists alike, coupled with uncertain global markets. A lack of interest among gold buyers also contributed to this drop in prices which also saw silver rates drop by over Rs 330 per kg.

      The impending US rate hike still continues to have a huge impact on international gold rates which saw a slight improvement after the biggest drop in rates in a single day in the last 5 weeks. Gold traded at $1,125.95 per ounce in the London market, with a hope that they could get stronger in the future.

      28th August 2015

    • Gold halts its two week rise, dips again

      Gold has been on a roller coaster ride since quite some time now. The metal that was showing signs of slight improvement since the last two weeks has again halted its upward spree and has dipped 250 rupees to end at RS.27,360 per 10 grams for 22k purity.

      Traders are of the view that fall in price is a result of global trends as well as the fall in demand from jewellers and retailers. Gold of 99.5% and 99.9% purity fell by Rs.215 in New Delhi while the sovereign remained steady at RS.22,700 per ten grams. Gold has been on a steep decline since the beginning of this financial year.

      26th August 2015

    • Gold on a seven week high

      The topsy-turvy world of gold witnessed new highs over the weekend, as gold prices rose to their highest value since January this year. International gold rates jumped by over $8, ending at $ 1,168.40 per ounce in the market. The last week saw gold rates gain 4%, the most since mid- January, before prices started dropping.

      Moves made by China are closely being monitored as these have a huge impact on prices, with hope that gold prices will go up due to China’s actions. United States is another major player impacting gold rates, with experts waiting for its decision regarding a rate cut, which could go a long way in defining the future of gold prices.

      24th August 2015

    • Gold Prices Head North In the Country

      Gold has started to show its resolve globally, as gold prices got a shot in the arm, climbing up to Rs 26,700 per 10 grams in the capital. Prices rose by almost Rs 365, to reach a six week high, thanks to stabilizing global markets and demand from jewellers. Jewellers across the country are counting on the fast approaching wedding season to spur gold sales.

      Rates had dropped drastically owing to the impending rate cut by US, but the prospect that this rate cut might not happen have given an impetus to gold rates. Global gold rates witnessed their best performance in a month, with prices jumping by almost 2% in Singapore to end at US $ 1,139.59 per ounce.

      Another factor pushing gold rates up is the diversion of investments from equities to bullion, increasing demand for gold globally. The past ten days have seen gold prices go up by as much as Rs 1,355 in Delhi, as prices stabilized at Rs 26,700 and 26,550 for 10 grams of 99.9% and 99.5% gold respectively. The rate of sovereign too jumped by Rs 100, with 8 grams costing Rs 22,500.

      Silver, too saw a surge in prices, as rates rose by almost Rs 1,000, with one kg silver costing Rs 36,300 in Delhi.

      21st August 2015

    • Gold Rate Appreciates on Global Cues

      Gold rates today increased by Rs.174 for 10 grams of the metal to Rs.26,370 in the futures trading sector, showing a widening position from speculator amid strengthening global trends. Gold rates went up by 0.66% on the MCX for delivery of gold in far-month October.

      The delivery of gold in far-month December also rose by a similar percentage of 0.65% or Rs.172 to come to Rs.26, 577 for 36 lots.

      The rise in rates can be attributed to the strengthening global markets, owing to the dimming prospects of an interest hike in US rates in September. Gold has advanced the highest in the past 3 months owing to this factor according to traders.

      Gold traded at 1.5% higher in the Singapore market today to increase to $1,134.20 an ounce from $1,133.88 per ounce yesterday, the biggest gain in rates since 13th May 2015

      20th August 2015

    • Gold rate fluctuations confuse investors

      Gold rates have been on a tumultuous ride over the last few months, dropping to new lows before picking up, eliciting mixed emotions among gold buyers. A majority of the population believes that this is a good time to stock up on gold, given the low prices, but according to experts it might be wise to delay any investment decision, as gold prices could drop further in the coming months. An impending US rate hike is bound to impact rates, pushing them down further, to as low as $ 1,000 per ounce, according to experts.

      Experts also believe that investments in gold will not be suited for those looking for quick returns, and a decent time frame must be given before expecting any profit. The government, on its part is trying to offer better schemes to the public, in a bid to improve its gold reserves. Gold sovereign bonds, issued in denominations of 2g, 5g and 10g gold are perhaps the smartest gold investment option today and come with government guarantee. A long tenure of 5-7 years will ensure that investments are not affected by the current fluctuating gold rates, making it a win-win for both the government and investors.

      19th August 2015

    • Import tariff value on gold and silver rates hiked

      The import tariff value on gold and silver was hiked by the Indian Government, keeping global market rates in mind. Tariff value helps in calculating customs duty on imported gold or silver and acts as the base price for such calculation. The import tariff was raised by 2.5% on gold and 0.2% on silver, with rates jumping to $363 from $354 for ten grams of gold and to $499 from $498 per kg of silver. An official notification was issued by the Central Board of Excise and Customs on the back of strengthening gold rates.

      Gold rates in India climbed by Rs 20, pushing prices to Rs 26,220 for 10 grams. Change in prices are attributed to high demand from both retail buyers and jewellers, with silver rates jumping by Rs 270 per kg to end at Rs 36,400 per kg.

      International gold rates continue to rise, with Spot gold trading at $1,178.78 per ounce in Europe, with experts believing that gold rates could go higher in the near future. Some analysts are of the opinion that gold rates could jump by 10% in the next 4 months.

      18th August 2015

    • Global factors push Gold in futures trade

      Falling gold rates got a push in the arm over the weekend as prices jumped to Rs 26,100 for 10 grams in the futures trade this morning. China’s decision to increase its bullion reserves and purchases by billionaire Stan Druckenmiller have contributed to this slight hike in rates. The devaluation of the yuan by China pushed prices up by 1.9% last week, the biggest hike in gold prices since May.

      Gold for delivery in December went up by Rs 40 per ten grams to Rs 26,100 per ten grams at the Multi Commodity Exchange, whereas gold scheduled for delivery in October went up by 0.53% to Rs 25,960 for ten grams.

      17th August 2015

    • Increasing Gold Rate May Push Demand in India

      After the fall of 10 gram gold prices in India from Rs.27,000 to Rs.25,000 over the course of July, prices are seen to be strengthening in the first weeks of August. The sustained fall in gold rate has taken a downturn and prices have risen to Rs.26,000 by the 2nd week of August.

      According to Mr Somasundaram PR, MD World Gold Council India, the rise in prices is likely to push the Indian buyers who were holding back purchases hoping for further decline in rates. Gold rates started falling last month, following huge offloading of gold in international markets by China. The past few days saw gold prices strengthening owing to various reasons including rise in international rates as well as a weakening rupee.

      Meanwhile, consumer demand for gold in India fell by 25% in the April-June period compared to the same period in 2014. Good performance of the stock market, less auspicious days and unseasonal heavy rains triggering a softening rural economy are touted to be the reasons behind this fall in demand, according to Mr Somasundaram.

      The upcoming festival and wedding season is likely to spur demand and there has already been an uptick in sales as Indian consumers have started buying gold following the softening of prices.

      14th August 2015

    • Gold Consumption in India May Increase in 2nd Half of 2015

      Gold prices, after seeing a sustained decline over the months of July and August, have fallen to the lowest value in more than 5 years. The drop in rates over the year is likely to spur demand up by 25% compared to last year in the remaining months of the year in India, as per the World Gold Council (WGC).

      However, the demand may be lower if the monsoon fails to provide enough rain. This is a real possibility as the Indian Meteorological Department (IMD) has predicted this year’s monsoon to be at 88% of the average rainfall over the long run. With El-Nino strengthening, the monsoon rains may fall to 84% of average amount in the period of August-September, raising fears that a drought may be ahead.

      The weak monsoon will affect the rural population the hardest, who account for 2/3rd of the overall demand for gold in the country. The first half of the year saw a decline in gold demand by 7% in India, with demand for investment likely to continue falling in the second half of the year due to government policies.

      The fall in gold rates hasn’t seen a huge demand from the Indian populace yet, as the dominant thinking is that prices are likely to fall further. As such, buying is expected to be accelerated in the coming weeks and months.

      13th August 2015

    • Gold Rate Falling for Longest Period in 15 Years

      Gold rates have fallen by staggering levels over the past few weeks, and slightly positive tick this Monday has not been enough to steer the prices clear of the 5 ½ year low levels. Gold prices fell for 7th consecutive week during the past week, the longest such downward trend since 1999. Prices are likely to fall in the coming days as stronger US job data can nudge the Federal Reserve to raise interest rates probably by the start of the next month.

      Spot gold prices were up 0.3% yesterday, with futures contract for December down marginally to Rs.25,090 in yesterday’s session. Gold managed to see marginal gains on Friday after data of US jobs was released. However, the gains are not likely to last once the rate hike eventually happens, and the hikes are apparent owing to the stronger economy data of the US. Meanwhile, falling foreign exchange reserves of China have also been worrisome for the gold market, with the top gold consumer coming under increasing pressure to stimulate its faltering economy.

      11th August 2015

    • Gold prices at an all-time low in 5 years

      With the anticipation of rate hike by the US Federal Reserve for a stronger dollar view the price of gold have taken a hit. The global prices of the precious yellow metal hovered around an all-time low in 5 years. In India the prices of gold dropped below Rs. 25,000 per 10 grams, Delhi has seen a low of prices since 6th August 2011 with gold of purity 99.9% and 99.5% fell by Rs. 40 each. Domestic prices lost Rs. 280 over the last 3 days.

      Gold prices are expected to sink further globally, in London prices of gold are going through a loss for the seventh week straight, the longest they have had in a decade. In New York, gold futures traded were at a high, as the US stocks declined a day before the monthly jobs. The August delivery were settled higher US$1,090.10 an ounce, after closing at US$1,085.60 previously.

      7th August 2015

    • Further Drop in Gold Rates Expected

      Gold buyers are in for a bonanza, with International experts opining that gold rates could drop below the Rs 20,000 barrier for 10 grams of this precious metal in the coming year. Gold rates have been on a roller coaster ride in the recent past, but the current trend seems to indicate a downhill battle for rates, which have seen their value drop by over 20% in the last few months. Gold traded at Rs 24,500 in Mumbai, down from an all-time high of Rs 35,000 two years ago. If the current trend continues, buyers could see a 50% drop in gold rates in the coming year.

      An impending decision on rate cuts by the US Federal Reserve and demand from China are likely to play key roles in gold prices in the coming months. Prices of gold in the international market hovered around the $1,084 mark per ounce, with experts predicting them to hover around the $900-1,040 range in the near future. These rates have been felt even in India, with experts believing that the demand for gold jewellery will sustain itself this year, thanks to the drop in rates and a good monsoon.

      6th August 2015

    • Gold Continues Slipping Closely To A 51/2 Year Low As Fed Expected To Increase Interest Rates

      Gold prices continue to fall, closing to a 5 and half years low, on Tuesday, with the selling pressure supported by the interest rate rising expectations by the the US Federal Reserve in 2015.

      Investors have noted that according to the past data on Monday, estimates are falling short in the US manufacturing activity,while waiting the very decisive non-farm payrolls report, set to release on Friday.

      Spot gold dipped 0.3% to $1,082.8 an ounce by 0042 GMT, as compared to July’s low of $1,077, the worst since February, 2010.

      The U.S. Institute for Supply Management's index of national factory activity fell to 52.7 last month. However being over the 50 mark depicts that the U.S. manufacturing sector has not stopped expanding.

      The Federal Reserve is expected, probably as early as the next policy meeting due in September, by experts in the field, to raise the interest rates despite the labour market improving Amid an improving labour market. This could lead to further price drop for the yellow precious metal.

      04th August 2015

    • Gold rates in India fall by Rs. 200 for third consecutive day

      Gold rates in India have fallen by Rs. 200 for the third consecutive day and have come down to Rs. 25,090 per 10 grams. The fall is being attributed to the global trends because globally gold has come down by 1.1% to a price of USD 1,084.51 per ounce. This fall has affected gold that is 99.9% and 99.5% pure, with the price of the latter coming down to Rs. 24,940 for 10 grams. The price of the 8 grams gold sovereign was not affected and stayed at Rs. 22,200 per sovereign. In light of the fall in prices, jewelers have also slowed down their purchase of gold as they expect the prices to fall even more.

      This drop in prices is not limited only to gold because even the prices of silver have fallen. The new price is Rs. 34,050 per kg which is a drop of Rs. 150. The global rates of silver also came down by 1% to USD 14.66 in Singapore. The price of silver coins also came down by Rs. 1,000 to Rs. 48,000.

      31st July 2015

    • Price of Gold to dip further

      Gold buyers can rejoice further over the coming weeks as the price of this precious metal is set to see a downslide in the coming days. Experts from India Ratings and Research are of the opinion that the value of gold may reach a low of Rs. 20,500 for 10 grams, if the US Federal Reserve decides to implement the much anticipated rate hike.

      Global prices of gold are expected to go below the $1,000 mark and could drop to as low as $900, depending on the outcome of the US Federal Reserve rate hike. The value of gold has been inversely proportional to US interest rates and the dollar index, with both these factors contributing significantly to gold rates reaching a 5 year low.

      This drop in gold rates has signalled good news for buyers though, with a 15% increase in demand in India. China and India account for almost half the worldwide demand for gold and a further dip might just see the demand increase. Gold investors however don’t seem too enthusiastic about the dip in prices, as the demand for gold investments has dropped to a 6 year low in India, possibly attributed to the instability in gold rates.

      30th July 2015

    • Gold Price Drop Greeted By Smiles

      Gold has always fascinated us, grabbing our attention through centuries and it comes as no surprise that we are intrinsically connected to it. The plunging gold rates have been in the news for a while now, with gold prices dropping to a 5 year low in-spite of reserves being at an all-time high in the Middle East. This price drop has seen India replacing China as the biggest buyer of gold in the world, with a demand of around 842 tonnes last year.

      A lot of this demand could be attributed to the new government policies, which have allowed more agencies to import gold, apart from revoking the 20:80 rule which required gold importers to sell 20% of their purchases for re-export. The government’s decision to impose a 2% import duty on gold also saw an increase in gold smuggling into the country, as importers tried to evade this duty.

      The new budget has tried to monetise gold deposits, offering depositors a chance to earn interest on their gold accounts. Jewellers are also incentivised to avail loans against their gold deposits, in the hope of balancing out the trade deficit. The success of this initiative, however, depends on the citizens of India accept this, given that their sentimental connection to gold is extremely strong.

      29th July 2015

    • Gold Dip sees mad rush to buy Gold

      Indian gold lovers are taking full advantage of the recent fall in gold prices, as jewellery stores have seen a large jump in their sales. Indians seem to be have fallen in love with the new gold rates, and with the festival season around the corner it looks like they are in a hurry to make the best of falling gold prices.

      The cost of gold has dropped by around Rs 75 per gram over a span of three days, with rates dipping to a five year low. This drop has come as a boon to everyone concerned, with jewellery stores seeing a 20-30% increase in sales over the last few days. The crash has allowed Indians the opportunity to buy gold not only for festivals and weddings but is also a good time to purchase it as an investment.

      The current rates could also see the demand for gold in India rise by over 100 tonnes this year, signalling the beginning of a new love affair for the precious metal. Some experts are of the opinion that the cost of gold could increase during the festival season, while some believe that the rate could slip further. Regardless of how things shape up in the future, the current gold rates are attracting attention like never before.

      24th July 2015

    • Gold prices at a 5 year low

      The gold prices went down as the dollar weakened. The modest gain suggested that the bearish investors are still hovering in the market. The SPDR Gold Shares, world’s biggest gold-backed exchange traded fund, shrank for a fifth day on Wednesday. This was the lowest since 2008 as the holdings of SPDR Gold Trust dropped to 22.098 million ounces on Wednesday.

      Spot gold rose 0.5% to $1,098 an ounce after sliding more than 1% on Wednesday. This has been the cheapest since March 2010.

      The gold prices tumbled at 4% on Monday in a sell-off in big volumes on the Shanghai Gold Exchange where the investors dumped more than $500 million of bullion in New York in seconds during the early Asian trading hours.

      Vishnu Varathan, senior economist at Mizuho bank commented that it would be foolish to buy gold bull now and that the gold bugs will have to wait. He was also hopeful that the gold market won’t collapse further from here.

      The gold rates have gone down because of the expectations that the Federal Reserve will raise the interest rates later as the US economy recovers.

      Vishnu Varathan further said that while the Federal Reserve is tightening their policy, the European Central Bank and the Bank of Japan are engaged in quantitative easing which could boost inflation and increase the demand for gold as a hedge. He also said that though gold rates have lowered, it won’t collapse like how iron ore did over the last two years.

      US gold for August delivery was up by 0.5% at $1,097.10 an ounce after a 10-session decline. HSBC Analyst, James Steel said that the bullion may be at risk of further decline if gold-ETFs continue to liquidate.

      Spot palladium climbed 1.6% to $633.98 an ounces having fallen to its lowest since 2012 during Monday’s selloff. Platinum on the other hand rose 0.7% to $985.60 an ounce and silver gained 0.2% to $14.81.

      23rd July 2015

    • Indian Gold Market Sees Little Enthusiasm, Despite Prices Drop Overseas

      Prices of the yellow metal saw a stark drop at Rs. 25,000 for every 10 gram on the first trading day of the week. The fall was set off by the five-year low from $1,132 to $1,080 an ounce (31.1 grams) in overseas bullion. However the fall of gold prices, in India, has not created much demand for trade. By intraday, gold prices gained and settled at, around $1,115 an ounce.

      Investors of gold, in recent times have not been confident in the yellow metal for declining returns, in the past couple of years and have opted to make other financial investments such as in stocks, instead. However, Sandeep Kulhali, senior vice president of retail and marketing, Tanishq, a brand of jewelers of Titan, did note positive consumer sentiments in the earlier weeks of July.

      A spokesperson from India Bullion & Jewellers Association, Ketan Shroff (IBJA), a well-known trading body, alerted gold investors that a drop in rupee value could lead to a drop in gold prices to a certain extent.

      21st July 2015

    • Gold Rates Plummet to 5 Year Low

      The price of Gold plummeted to a 5 year low, trading at $ 1,089 an ounce in the International market, signalling good news to Indian gold buyers. The current gold rates are the lowest since March 2010, and are likely to have an impact on the Indian gold market as well, with gold prices expected to drop when gold shops open for business after the weekend. Investors are of the opinion that the US Federal Reserve will hike the interest rate on gold in its September policy to balance the gold rates.

      The Indian gold market is intricately linked to international gold rates and any change in international rates are bound to have an impact here, with falling gold rates indicating a drop in domestic prices. This change depends on the depreciating value of the fluctuating rupee to an extent, though the current value of the rupee should not worry gold buyers.

      The cost of 22 karat gold was hovering around the 25,000 rupee mark in Mumbai and is expected to drop more with the strength of the dollar contributing to the drop in gold prices. The cost of Gold Futures on the Mumbai Commodity Exchange also dropped to its lowest value since June 2013, trading at Rs 25,007, with gold experts foreseeing a further drop in gold rates over the coming months.

      A good time to buy gold indeed.

      20th July 2015

    • Gold prices fall; snubbed by Asian buyers, India prices are still at a discount

      Gold prices fall to an 8 month low, but fail to boost demand among top buyers China and India. The buyers are anticipating further declines in prices over the strength of the US dollar.

      Federal Reserve Chair Janet Yellen, announced the hike in interest rates which led to the fall in the price of bullion. Spot gold fell as far as $1,142.10 an ounce on Thursday, since it’s lowest in November 2014. The demand for gold in the Chinese market is sluggish as they would rather invest in property and the stock market. India has been trading gold at the all-time low in 4 months, and their gold imports have fallen by 37% in June from a year ago and not been selling at a premium since April of this year.

      17th July 2015

    • Imports of gold declines by 37% for year ending June 2015

      The decline in gold imports in June is helping to keep the current account deficit (CAD) in check. The trade deficit has narrowed down by $1.96 billion to $10.82 billion in June against the $11.76 billion of last year.

      To keep up with the demand and requirements of the jewellery industry India is the largest importer of gold. The precious metal imports in the same month of 2014 were $3.12 billion, but this year stand at $2.42 billion. Owing to the larger imports than exports in the recent past, the current account deficit had widened. The CAD has shrunk by 0.4% from 1.7% to 1.3% of GDP(USD 27.5 billion). The RBI and the government say that this is a comfortable CAD level.

      Gold imports have reduced on the back off falling gold prices and doing away of restrictive legislation in the past year. There has been considerable overstocking of gold among traders in India who are hesitant to offload stocks until prices rise.

      16th July 2015

    • Gold gains in Asia due to rise in China’s GDP

      Due to rise in China’s GDP, industrial output and retail sales ahead of the Federal Reserve Chief’s comment, the gold prices have gained in Asia. The expected growth was at 6.9% but, China reported a 7% growth in the second quarter.

      Silver gained a 0.01% to $15.317 a troy ounce for the September delivery. Copper’s gain for the September’s delivery dipped 0.14% to $2.537 a pound.

      Gold futures saw a little movement on 14th July despite a flat dollar and as Iran reached a nuclear deal with western partners and Greece prime minister, Alexis Tsipras sought support from Parliament for a historic bailout from its euro zone creditors.

      Gold is viewed as a safe haven for investors in times of economic instability.

      15th July 2015

    • Gold holds above a four month low, but witnesses a 3rd weekly drop.

      Gold, finally managed to hold above a four month low on Friday, driven by a stronger euro on signs of progress in Greece’s effort to avert bankruptcy and secure new funding. But the gold bar is still down for third week in a row now in between the poor demand in top customers like China and India. Spot gold has lost 0.7% for the week after touching $1,146.75 an ounce, the lowest it has been since March 18. A list of reform proposals was sent by the Greek government to the euro-zone creditors in order to gain new funds.A parliamentary vote will be sought for to endorse immediate actions. The International Monetary Fund changed its forecast for global economic growth this year to 3.3% from 3.5% of last year, thus supporting gold.

      10th July 2015

    • Gold price declines to nearly 4 months low on safe-haven demand.

      Gold strove to move ahead from its lowest level in nearly four months on Thursday following China's stock market crash and the Greek debt story failing to respond to safe-haven demand. Although, the price of gold was slightly above on Wednesday's trough, it did not receive ascending momentum even after the Federal Reserve's last meeting. China’s securities regulator had put a 6 month ban on fat shareholders. It took the radical step of ordering shareholders with stakes of more than 5% not to sell shares for the next six months so that the stock market crashing can be prevented. Also, it is expected that what is happening in China may affect gold prices as the Chinese do not have any more funds to buy or invest in gold. Gold has also not performed very well in response to what’s going on in Greece. Currently, a great lack of interest towards gold is noticeable.

      09th July 2015

    • Stock-ready and low on demand, Indian gold continues to trade at a discount

      India continues to witness discounts in physical gold prices, what is being termed a seasonal decline. Lower prices are largely resulting from large gold stocks and lethargic demand. Discounts in Ahmedabad, for example, on 0.995 gold are hovering at around $8 per ounce lower than London spot prices.

      Stock-piling began towards the end of last year, 2014, when the Indian government lifted import restrictions on gold. The infamous 80:20 rule which required 20% of imported gold be exported prior to making fresh imports was done away with, making it easier for more gold to be brought into the country. About 330 tonnes of gold is estimated to have been imported since the legislation was done away with in November 2014. Stockists appear to be holding onto gold inventories in anticipation of better prices.

      Demand, driven largely by the agricultural sector, has been sluggish. A good monsoon is expected to prompt agriculturists to buoy the demand for gold as buying capacities are expected to improve on the back of good rains and good crops. Gold is a primary savings mechanism for most agriculturists in India who tend to fall out of the purview of the formal banking system.

      Demand remains contained in other Asian markets as well. Hong Kong recorded prices at 3- month lows which has affected demand adversely in Tokyo as well. The uncertain political situation in Turkey has seen prices drop from highs of the last fours years. China, which rivals India in terms of gold consumption, increased its gold imports by 36% but demand has not kept pace. Singapore continues to see gold withdrawals.

      3rd July 2015

    Gold Rate In Metro Cities
    Gold Rate In Other Capitals
    Gold Rate In Other Major Cities
    Gold Rate In States
    Bank Gold Schemes
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