Gold price in India flipped into discount this week after festival buying came off. Dealers offered a discount of up to $2 an ounce over official domestic prices this week, down from last week’s premium of $1.5, news agency Reuters reported. Dhanteras and Diwali was celebrated earlier this month when buying gold is considered auspicious.
Gold
Get commodity future prices for Gold from MCX, NCDEX, NMCE. Get live commodity market price,Gold futures prices from Gold Silver Reports – Neal Bhai Reports
Spot Gold Hold Above $1,850 level ahead of US Data
Gold (Yellow Metal) Reports: Spot gold is holding the lower ground just above $1,850, maintaining its consolidative mode after facing stiff resistance near the $1,868 region. The improving market mood appears to be weighing down on gold price, as the bulls fail to benefit from a broad retreat in the US dollar from yearly highs.
Powell And Gold – The Fed May Announce Tapering in November
Powell And Gold – The Fed could announce tapering as soon as November. It all depends on whether the substantial further progress test for employment will be met or not. For Powell it is now “all but met”, even though it could happen as soon as the next meeting. After all, many of the FOMC members believe that this test has already been met:
Gold Is Back in Vogue With Bulls Loving Faster Inflation Again
For much of this year, rising inflation has been bad news for gold. Now it’s giving the metal a shot in the arm.
Spot Gold Price Could Rise $1,880 if Hold June 16 Highs Give Way
Spot Gold Price: Will US inflation trigger a sustained move above $1,834 in spot gold? This was a rhetorical question to which the response was aptly provided after the US Consumer Price Index (CPI) jumped to the highest levels in 31 years in October, arriving at 6.2% YoY.