Gold Silver Reports – Gold prices drifted in a narrow range on Friday after hitting a near three-week low in early trade as the dollar gained against the euro after the European Central Bank (ECB) extended its bond buying programme.
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Global Gold Prices Steady on Weaker Dollar
Gold Silver Reports – Gold prices steadied on Thursday as global equities fell and the US dollar held near a week low versus the euro before a European Central Bank (ECB) meeting, though risks for gold prevailed in the absence of any hawkish surprises from the ECB.
Dhanteras Gold Sales Fall 30%
Gold Silver Reports – Gold demand remained subdued this Dhanteras, with overall sales falling by 30% compared with the 2016 festival season, but consumer purchases were higher than those recorded during Navratri and Dussehra late last month.
Gold Prices Crawl up as US Dollar Retreats
Gold Silver Reports – Gold prices rose on Wednesday after hitting a seven-week low in the previous session, buoyed as the dollar pulled back from a one-and-a-half-month high against a basket of currencies.
What GST Means for the Jewellery Sector
Gold Silver Reports – The GST (goods and services tax) rate on gold jewellery is fixed at 3%. While it is higher than the earlier tax on gold, the GST rate is lower than expectations of a 5% rate and that is a relief.