New Delhi, Jan 29 (PTI) Silver prices on Wednesday marginally rose Rs 6 to Rs 91,057 per kilogram as participants increased their bets.
Globally, silver was trading 0.14 per cent lower at USD 30.37 per ounce in New York.
Source – Press Trust of India
Follow up on Kentucky considers bill to entice gold and silver investors
House Bill 2, introduced last week by Rep. T.J. Roberts, R-Burlington, and backed by several other GOP representatives, would void a controversial line-item budget veto by Beshear last year that prevented state lawmakers from exempting “bullion currency” — or gold and silver coins — from taxation.
The proposed bill would also give people who have paid sales taxes on gold and silver since August — when the exemption was set to take effect — the power to use the courts to seek a refund along with $1,000 for “each day that the violation occurred,” paid by the governor’s office.
Source – Louisville Courier-Journal
Gold prices in Lucknow continue to reflect the national upward trend, with 22-karat gold priced at Rs 9,395 per gram and 24-karat (999) gold at Rs 10,248 per gram as of Wednesday. These rates are slightly higher than those in several other major cities, including Chennai, Mumbai, Bengaluru, Hyderabad, and Kolkata, where 22K gold is priced at Rs 9,380 and 24K gold at Rs 10,233 per gram.
Source – ABP-Live
Rs – means Relative Strength and is used in momentum investing and in identifying value stocks.
Silver has initially fallen significantly in the early hours of Tuesday, as the market reacted to the ceasefire, taking out some of the “risk trade.” However, we are holding the range again. Ultimately, there are a lot of “moving pieces” to pay attention to.
Source – FX EMPIRE
Copper traded on the London Metal Exchange has jumped 14 per cent this year and reached $US10,046.50 a tonne on Thursday, the highest since October.
“Traders are redirecting the metal from Asia to take advantage of the price premium and skirt any potential tariffs on the metal,” said ANZ senior commodity strategist Daniel Hynes.
“The US copper rush could leave the rest of the world tight on copper if demand picks up more quickly than expected,” said ING commodity strategist Ewa Manthey.
Source – Financial Review
Gold surged above $3,400 to a record high on Monday, as the dollar weakened and uncertainty over the economic impact of U.S.-China trade tensions spurred demand for safe-haven bullion.
Spot gold rose 2.6% to $3,415.24 an ounce at 10:46 a.m. ET (1446 GMT). Prices hit a record high of $3,424.25 earlier in the session.
U.S. gold futures rose 3% to $3,426.30.
“As tariff tensions continue to move at a fevered pitch, we continue to see gold prices move to the upside as a safe haven response,” said David Meger, director of metals trading at High Ridge Futures.
Source – Reuters
Silver price (XAG/USD) retraces its recent gains from the previous session, trading around $29.80 per barrel during the Asian hours on Wednesday.
People’s Bank of China (PBOC) Governor Pan Gongsheng stated on Monday that “interest rate and reserve requirement ratio (RRR) tools will be utilized to maintain ample liquidity.” Gongsheng reaffirmed China’s plans to increase the fiscal deficit and emphasized that China will continue to be a driving force for the global economy.
Source – FX Street