Gold prices starts 2018 on a positive note, hit a three-month high
Businessam Staff
January 2, 2018
Gold has started 2018 on a positive note as the yellow metal’s price rose to its highest in more than three months today. Gold futures rose 0.31 percent to $1,313.30 this morning after breaking the psychologically important $1,300 mark on Friday. The precious metal, a safe haven asset, benefited from a weaker US dollar in […]
Global gold prices hit over three-week high on dollar weakness in thin trading
Businessam StaffDecember 26, 2017
Gold prices edged up on Tuesday in low-volume trade to more than three-week highs, helped by a weaker dollar. Spot gold was up 0.3% at $1,278.06 per ounce at 8.22am, after hitting its highest since 1 December at $1,279.05. US gold futures rose 0.3% to $1,282.50 an ounce. The futures market was closed for Christmas […]
Investors not ready to dump gold for bitcoin – Goldman Sachs
Businessam StaffDecember 17, 2017
Gold and bitcoin buyers are different groups of people, according to Jeffrey Currie, the global head of commodities research at Goldman Sachs. “In our view, bitcoin is attracting more speculative inflows relative to gold,” Currie said in an interview with the Financial Times. According to the analyst, gold ETF holdings are at their highest level […]
Gold prices drift higher at start of busy week of Fed speakers
Businessam StaffNovember 27, 2017
Gold prices drifted higher on Monday, as investors looked ahead to a busy week of Federal Reserve speakers for fresh clues on the likely trajectory of monetary policy. Comex gold futures inched up $4.70, or about 0.4%, to $1,292.02 a troy ounce by 3:05AM ET (0805GMT). Gold futures finished modestly lower in an abbreviated session […]
Gold breaks 3-day rise, down Rs 100 on global cues, low demand
Businessam StaffNovember 16, 2017
Gold prices slipped by Rs 100 to Rs 30,525 per 10 grams at the bullion market today, halting its three-session gains, due to weak global cues amid muted demand from local jewellers at prevailing levels. Silver fell further by Rs 75 to Rs 40,650 per kg due to reduced offtake by industrial units and coin […]
Gold falls as dollar recovers, Fed chair in focus
Businessam StaffOctober 31, 2017
Gold slipped on Tuesday as the dollar recovered and precious metals investors turned cautious ahead of central bank meetings this week, U.S. payrolls data and the announcement of who will be the next Federal Reserve chair. Spot gold slipped by 0.5 percent to $1,269.69 an ounce, on course to finish October with a second straight […]
North Korea’s largest nuclear test sends price of gold to its highest in almost a year
Businessam StaffSeptember 4, 2017
Over the weekend, North Korea conducted its sixth and largest nuclear test to date. South Korea responded with live-fire exercises and, in the process, determined that the North is preparing more missile launches. Although US markets are closed today for the Labor Day holiday, there are plenty other signs that investors are nervous about where this will lead. […]
Analysts at Shroders say gold in new bull market
Businessam StaffAugust 24, 2017
Two analysts at United Kingdom-based investment management company, Shroder, James Luke and Mark Lacey, have suggested that gold, the commodity in high demand as a store of value and an object of fashion, has entered a bull market. In an analyst note written by them, they drew attention to the fact that despite significant US […]
Gold above 22 carats banned from export in India to check trade leakages
Businessam StaffAugust 16, 2017
India has banned the export of gold products with purity above 22 carats with immediate effect, a move that the industry sees as a way of curbing irregularities in the trade. A notice was issued by the director general of foreign trade limiting shipments of jewelry, coins, and medallions to 22 carats or below, without […]
Gold price spike extends on US, North Korea nuclear rhetoric
Businessam StaffAugust 13, 2017
Gold prices rose for the third successive session on Friday as safe-haven seeking investors continued to buy the yellow metal in light of the ongoing war of words between US President Donald Trump and North Korea’s Kim Jong Un, and the subsequent ratcheting up nuclear tensions between both nations. At 4:36pm, the Comex gold futures […]