Reading Time: 2 minutes Custom Department has notified today that Import Duty on Gold is increased from 7.5% to 12.5%. Additional to that there would be 3% Agricultural Cess and 3% GST, therefore effective import duty would be 18%.
Precious metals rallied before plummeting amid hopes of the Inflation rate cooling off
Reading Time: 2 minutes The short gains coincided with the U.S. annual core PCE price index that hit 4.7% in May, slightly missing the consensus forecast of 4.8%. However, the price of the precious metal subsequently reverted to $1806 reversing direction and losing a significant amount of ground gained during the initial spike.
Precious Metals seesaw between small gains and losses.
Reading Time: 2 minutes Bullion prices seesaw between small gains and losses yesterday as Investors assessed weaker-than-expected US GDP data and hawkish comments from Fed Chairman.
Precious Metals pressured on upbeat sentiment
Reading Time: 2 minutes Precious metal prices had been consolidating, drifting down as it balances an environment of higher interest rates with safe-haven demand.
Precious Metals oscillation continues
Reading Time: 2 minutes Gold and Silver – Kya Lagta Hai Short-term View (up to 1 week) – Rangebound–Gold is again trading in same range 50200 to 51200 and silver…
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Gold recovers as G7 puts ban on gold exports
Reading Time: 2 minutes Gold was 2nd largest export for Russia, 90% of its output went to G7 countries and Russia accounted for about 5% of all world gold exports. A ban on gold exports from Russia will squeeze the supply of gold in the global market.
Gold continues to consolidate between Rs 50000 and Rs 51500.
Reading Time: < 1 minute Gold continues its consolidation phase as a tug-of-war between rising inflation and recession worries supports the prices while rising interest rates and Treasury Yield act as headwinds.
Gold continues to consolidate between Rs 50000 and Rs 51500.
Reading Time: < 1 minute Gold continues its consolidation phase as a tug-of-war between rising inflation and recession worries supports the prices while rising interest rates and Treasury Yield act as headwinds.
Precious metals trading weak as investors expect aggressive interest rate hikes from the FED
Reading Time: 2 minutes Gold and Silver – Kya Lagta Hai Short-term View (up to 1 week) -Rangebound–– – Gold is again trading in same range 50200 to 51200 and…
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Risk-off impulse, sliding US bond yields, modest USD
Reading Time: 2 minutes Geopolitical uncertainty and elevated worries of policy mistakes are likely to continue to be supportive, and any escalation on either worry could see gold breaking above the $1,875-$1,895 resistance, with a target near $1,960, especially if USD strength starts to slow.