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Traders attributed the fall in gold prices to a weak global trend where the precious metal headed for its first back-to-back weekly decline since May as gains in equities and the dollar ate
.897 billion in the reporting week, RBI data showed.FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as euro, pound and yen held in the reserves.Gold
By the end of third quarter, gold could go up to USD 1425 per ounce and silver around USD 21.50 per ounce, says Georgette Boele, ABN AMRO Group.
Gold demand in Asia continued to underwhelm this week, but a dip in global prices over the past couple of weeks raised expectations of buying in the coming days alongside keeping a lid on selling
According to Achiievers Equities,Gold gained as the dollar and shares fell after the ECB left key interest rates unchanged, but better-than-expected U.S. jobs data weighed.
Gold prices surged by Rs 120 to Rs 30,770 per 10 grams at the bullion market today, tracking a firm trend overseas amid fresh buying by jewellers at domestic spot market.Silver also reclaimed
In futures trade, gold for delivery in October was trading Rs 51 or 0.16 per cent down at Rs 31,347 per 10 gram on the Multi Commodity Exchange with a business turnover of 25 lots.
"With respect to the sale of rice export business of HUL carried out primarily under the brands "Gold Seal Indus Valley" and "Rozana", to LT Foods Middle East DMMC, a group
Watch the interview of Navneet Damani of Motilal Oswal Commodities with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
Spot gold edged up 0.1 percent at USD 1,332.56 an ounce at 0051 GMT. Bullion rose 1.2 percent on Thursday, but was down about 0.4 percent for the week
According to Achiievers Equities,Gold fell as the dollar hovered around four-month highs, ahead of a critical interest rate decision by the ECB.
Gold hit a three-week low on Thursday, after falling more than 1 percent in the previous session, as investors looked to buy into rising equity markets rather than purchasing safe-haven assets
Besides, continued profit-booking by speculators at prevailing levels also weighed on gold prices.
Watch Manisha Gupta of CNBC-TV18 speaking about the current trend in commodities market and currency market action.
Gold buying in India will increase on the back of festival season and good monsoon, says George King Cassell, Senior Specialist Metals, Platts.
According to Achiievers Equities,Gold was little changed as bullion gleaned little impetus from in spite dollar rose on the back of better than expected US housing data.
Traders attributed the fall in gold prices to a weak global trend and easing demand from jewellers and retailers at the prevailing level at domestic spot markets.
The trading in Gold ETF segment has been tepid in last three financial years. The funds witnessed an outflow of Rs 903 crore, Rs 1,475 crore and Rs 2,293 crore in 2015-16, 2014-15 and 2013
Watch the interview of Dharmesh Bhatia of Emirates NBD with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities markets.
Watch the interview of Aurobinda Prasad Gayan of Kotak Commodities with Manisha Gupta on CNBC-TV18. He spoke about the current trend in commodities market.
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