|

Gold reaches Rs 83,000 per 10 grams for the first time

ByVictoria

“Gold extended gains on Friday, with spot gold in the domestic market hitting fresh all-time highs,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

“Prices in MCX are near record high as Trump trade policies and tariff plans created an uncertain environment in the market, which may boost safe-haven demand,” Deveya Gaglani, Research Analyst-Commodities, Axis Securities, said.

Comex silver futures also increased 1.53 per cent to USD 31.32 per ounce in the Asian market hours.

Source – Press Trust of India

Similar Posts

  • /

    Gold dips and U.S. Treasury yields rise

    ByVictoria
    0 Comments

    Spot gold fell 0.1% to $2,916.75 an ounce as of 11:55 a.m. ET (1655 GMT), after rising in the last three sessions. U.S. gold futures were flat at $2,925.

    “We are just seeing some mild profit-taking pressure from recent gains, the underlying fundamentals are still bullish… Another thing that’s putting some mild pressure on the gold market is a rise in bond yields,” said Jim Wyckoff, senior market analyst at Kitco Metals.

    The benchmark 10-year U.S. Treasury yield hit a more than one-week high, reducing the appeal of non-yielding gold.

    Spot silver dipped 0.2% to $32.70 an ounce, palladium was steady at $942.25 and platinum was down 0.3% at $966.63.

    Source – Reuters

  • /

    Gold breaks $3000, what happened

    ByVictoria
    0 Comments

    “Gold is an asset that is able to preserve value under the biggest variety of macroeconomic dislocations that we have seen,” said Thomas Kertsos, co-portfolio manager at First Eagle Investment Management LLC. “We’ve seen that over centuries gold has been able to — despite the volatility — always mean-revert and always maintain its purchasing power, all while providing significant liquidity.”

    “You’ve got huge uncertainty coming out of US policy that’s also just casting its shade over the global economy this year,” said Ian Samson, a multi-asset portfolio manager at Fidelity in Singapore.

    The foundations for the gold rally were partly set by global central banks’ wariness of relying heavily on the US dollar, also a reflection of geopolitical uncertainty.

    Source – Bloomberg

    Rally – is a period of sustained increases in the prices of related indexes. In this case we are talking about gold.

  • /

    Cerrado Gold production results

    ByVictoria
    0 Comments

    Mark Brennan, CEO and Chairman commented, “While Q2 results were modestly lower than our expectations as the heap leach continues to ramp up to its fully expanded capacity, we continue to be confident in our full year expectations as the underground operations ramp-up in H2/25. Cerrado also continued to progress both the Lagoa Salgada project and the Mont Sorcier projects towards completion of feasibility studies by Q3/2025 and Q1/2026 respectively, which we believe should demonstrate substantial value being unlocked by Cerrado’s development projects.”

    Source – USA Today

  • / /

    Gold fell 3%, Silver .9%

    ByVictoria
    0 Comments

    Safe-haven gold fell 3% on Monday as risk sentiment crept in following the announcement of a temporary deal between the United States and China to reduce tariffs.

    Spot gold was down 3% at $3,225.28 an ounce, as of 1344 ET (17:44 GMT). Bullion, considered a hedge against economic and geopolitical turmoil, hit a record high of $3,500.05 last month amid increased tariff uncertainty.

    “June gold futures bulls have lost their overall near-term technical advantage. Bulls’ next upside price objective is to produce a close above solid resistance at $3,350. First resistance is seen at $3,250 and then at $3,275,” said Jim Wyckoff, senior analyst at Kitco Metals.

    Spot silver slid 0.9% to $32.4 an ounce, platinum fell 1.9% to $976.06 and palladium dipped 3.4% to $942.69.

    Source – Reuters

  • /

    Copper’s early-year rally leaves investors unimpressed

    ByVictoria
    0 Comments

    The London Metal Exchange three-month price has risen every day in January and is now up 4.0% from the start of the month, making copper the early outperformer of the LME base metals pack.

    Dwindling stocks and China’s rising import appetite have rekindled optimism that the country is finally turning an economic corner.

    Fund managers are unconvinced, with investors’ long positions only marginally ahead of bearish bets on both the CME and LME copper contracts.

    The Yangshan copper premium , a closely-watched gauge of China’s import demand, is currently at a one-year high of $75 per ton, indicating China is still hungry for metal.

    Source – Reuters

  • /

    Gold, not Bitcoin, becomes investor safe haven

    ByVictoria
    0 Comments

    Gold prices rallied on Tuesday, regaining ground after a slight pullback at the start of March. Spot gold was up 0.4%, reaching $2,900.78 an ounce as of 7:30 AM UTC. The rally was supported by a weakening US dollar spot index that has dropped to 103.5, a 24-hour 0.2% downtick.

    Gold’s more “resilient” performance against the dollar is giving investors more incentives to turn against Bitcoin, with its price falling by more than $15,400 over the past month.

    “Now that Bitcoin fell below $77K, it’s down 30% from its January record high,” Schiff posted on X. “It’s hard to see the rationale for the U.S. government holding Bitcoin as a reserve asset when it can lose that much market value so quickly. The rationale will be even harder to see when it’s down 50%.”

    Source – Cryptopolitan