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Jewelers Rally as India Sets Gold Tax That’s Lower Than Expected
Gold Silver Reports — Shares of jewelers climbed in India after the government set the rate for gold under the uniform goods and services tax below expectations, signaling a potential recovery in demand in the world’s second-largest market.
Cotton MCX Resistance Key Level at 20777
Gold Silver Reports — Technically MCX Cotton is under short covering as market has witnessed drop in open interest by -2.99% to settled at 5871 while prices up 30 rupees.
Silver MCX Strong Support Key Between 37300—39700
Gold Silver Reports — Silver on MCX settled down -1.35% at 38052 adding to overnight losses after the Federal Reserve left the door open to raising interest rates in June.
Iran Will Cut Benefits on Oil Sales to Indian State Refiners
Gold Silver Reports ✅ — Iran will cut some benefits to Indian state-run refiners on crude purchases after the South Asian country decided to reduce the amount of oil it buys from the Persian Gulf nation, people with knowledge of the matter said.