Gold breaks 3-day rise, down Rs 100 on global cues, low demand
Businessam Staff
November 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 […]
Mining needs more activist investors, says top gold producer
Businessam StaffAugust 8, 2017
Mining companies could benefit from more investor activism in the wake of Elliott Management Corp.’s campaign for improved performance at BHP Billiton Ltd., according to Australia’s second-largest gold producer. The sector’s record of returns warrants closer scrutiny from shareholders, Jake Klein, Evolution Mining Ltd. Executive Chairman said in an interview in Kalgoorlie, Western Australia. “I’d […]
Big bang tax reform roils India gold demand as buyers adjust
Businessam StaffAugust 3, 2017
Gold demand in India, which vies with China as the world’s biggest user, will hold below a five-year average in 2017 as buyers adjust to a new uniform tax regime, according to the World Gold Council. Consumption is seen between 650 and 750 metric tons this year, compared with the annual average of about 850 […]
Physical gold demand rises in first half, but market sees surplus, analysts say
Businessam StaffJuly 27, 2017
Physical gold demand globally rose to 1,895 tonnes in the first half of 2017, up 17 percent from the same period last year, GFMS analysts at Thomson Reuters said. But the market saw a surplus of 138 tonnes in the first six months compared to a balanced market in the same period last year, despite […]