Gold Silver Reports (GSR) – Spot gold fell 0.4 per cent to $US1,254.81 per ounce after hitting its highest since June 26 of $US1,266.40 on Thursday. Gold prices have fallen on profit-taking, a day after bullion touched a near six-month high and the dollar rebounded, but the metal stayed on track for a weekly gain as the appetite for risk waned.
Breaking Commodity News
Gold Prices Fall Further Today
Gold Silver Reports (GSR) However, higher global prices capped the fall in domestic gold prices. On the other hand, silver rates today recovered by Rs 60 to Rs 37,160 per kg. Prices of gold of 99.9% and 99.5% purity fell further by Rs 20 each to Rs 31,540 and Rs 31,390 per 10 gram, respectively.
Gold Demand in India, Second Biggest Gold Consumer after China
Gold Silver Reports (GSR) – Gold demand in India, the second biggest gold consumer after China, usually picks up towards the end of the year going into the wedding and festival season. Traders expect the recent fall in domestic gold prices to perk up demand.
सरकार गोल्ड के लिए नए और बड़े बाजार खोजने पर काम कर रही है।
सरकार गोल्ड इंडस्ट्री को बढ़ावा देने के लिए कई मोर्चों पर काम कर रही है। वाणिज्य मंत्री सुरेश प्रभु ने एक्सक्लूसिव बातचीत में कहा कि
Gold Prices have fallen about 11%from its April Peak
Gold Silver Reports (GSR) – Spot gold was little changed at $1,209.71 per ounce at 0431 GMT. On Friday, prices fell to their lowest since Oct. 11 at $1,206.13 per ounce. “Higher US interest rates and a stronger dollar are flashing red for gold investors,” said Stephen Innes, APAC trading head at OANDA in Singapore.
Saudi Arabia, Russia Agreed in September to Lift Oil Output, Told US – GSR
US President Donald Trump has blamed the Organization of the Petroleum Exporting Countries (OPEC) for high crude prices and called on it to boost output to bring down fuel costs before the US Congressional elections on 6 November.
Gold Prices Edge Higher on Jewellers’ Buying, Silver Rates Fall – Gold Silver Reports (GSR)
Meanwhile, physical gold buying waned in major Asian centres last week as bullion prices rebounded from recent lows, with dealers in India offering the metal at a discount for the first time in over a month as an uptick in local rates moderated demand.