Physical gold prices in India moved to a discount over official domestic rates for the first time this as covid-related restrictions impacted retail demand. Dealers were offering a discount of up to $2 an ounce this week over official domestic prices, Reuters reported, as compared to previous week’s premium of $2.
gold price outlook
Why are Yellow Metal Prices Very High? – Gold Silver Reports
Gold (Yellow Metal), once mocked for its lack of yield and practical use, offers something the growing pile of negative-yielding bonds doesn’t – inflation protection. Plus, it makes a great doorstop.
Gold Prices Today Fell Sharply in India – Gold Silver Reports
Gold Silver Reports (GSR) – Gold prices today fell sharply in India, mirroring a big decline in global prices. On MCX, gold futures for August delivery fell below the ₹34,000 per 10 gram, when they declined 1.2% to ₹33,810. The October gold contracts on MCX also fell sharply but managed to hold on to ₹34,000 level.
Why Gold Prices Are Rising
Goldman Sachs Group Inc. says that “fear” has made a comeback and gold is benefiting as stocks slide and investors fret more about the possibility that the US economy may tumble back into recession.