Gold stays in a consolidation phase after setting a fresh two-week high near $3,390. The escalating feud between US President Trump and Fed Governor Cook causes markets to adopt a cautious stance and doesn’t allow the US Dollar to gather strength.
Neal Bhai
Gold Price Maintains Uptrend on Global Cues, Jewellers’ Buying
Gold Silver Reports (GSR) – In the national capital, gold of 99.9% and 99.5% purity advanced by ₹130 each to ₹30,970 and ₹30,820 per 10 grams, respectively. The precious metal had gained ₹40 in the last two days. Sovereign, however, remained unchanged at ₹24,700 per piece of eight grams.
Gold Silver Update By Neal Bhai YouTube Channel 17 July, 2018
Silver Price Today Hits Record – The white metal’s price increase is driven by optimism over a potential Federal Reserve interest-rate cut in December, strong inflows into bullion-backed exchange-traded funds, and ongoing supply constraints, as per a Bloomberg report.
PNB, other PSBs May Get ₹ 8,000 Crore Lifeline
Gold Silver Reports (GSR) – India’s 3rd-largest state-run lender will issue preferential shares to the government, the people said, asking not to be named as the information isn’t public. This will help restore capital to the level needed to pay the coupon that’s due July 25, they said.
Bitcoin is More Like Gold than a Currency
Gold Silver Reports (GSR) – In the seven months since Bitcoin’s price peaked, it has fallen by about two-thirds. But it’s still almost three times more valuable than it was a year ago. So what does the future hold for Bitcoin? There are three scenarios: