Gold Silver Reports (GSR) – Fed, ECB To Define Gold Prices Near Term Target – Many analysts have noted that gold has followed a well-established pattern: selling off before an expected rate hike to then rise once the dust has settled. The question on many investor’s minds is whether or not this pattern will hold next week as inflation picks up as the U.S. economy continues to grow at a steady clip.
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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
India Gold Imports Are Said to Have Slumped for Fifth Month
Gold Silver Reports (GSR) – India Gold Imports Are Said to Have Slumped for Fifth Month — India’s gold imports shrank 39% in May, according to a person familiar with the information, the fifth month of decline as the world’s second-largest consumer enters a seasonally weak period for demand. Imports contracted to 77.6 tonnes from 126.2 tonnes a year earlier, the person said, asking not to be identified as the figures aren’t public. The purchases exceeded the 52.7 tonnes in April and are the highest so far this year.
Physical Gold Kiss Rs 32000 on Jewelers Demand
Gold Silver Reports (GSR) – Physical Gold Kiss Rs 32000 on Jewelers Demand — Traders said increased Physical buying by local jewellers to meet retailers’ demand at domestic spot market and a depreciating rupee against the dollar, making gold import costlier, supported the uptrend.
Precious Metals Trader Beats Spoofing Conspiracy Charge
Gold Silver Reports (GSR) – Precious Metals Trader Beats Spoofing Conspiracy Charge — Andre Flotron, 54, was cleared by a federal jury in New Haven, Connecticut, of a single count of conspiracy to engage in commodities fraud. It was the first acquittal in a spoofing-related case since the U.S. outlawed the practice in 2010. He could have faced as long as 25 years in prison if convicted.
Gold Down on Dollar Strength, Easing North Korea Tensions
Gold Silver Reports (GSR) – Gold Down on Dollar Strength, Easing North Korea Tensions — Spot gold was down 0.1 percent at $1,329.04 per ounce at 0335 GMT. The yellow metal rose 0.5 percent on Tuesday to break a three-session losing streak. U.S. gold futures eased 0.2 percent to $1,330.60 per ounce.