co-presented by
ASSOCIATE SPONSORS
co-presented by
ASSOCIATE SPONSORS
Production from captive and commercial mines in April stood at 14.51 MT, a 26.6 percent rise from 11.46 MT seen in April 2024.
"The sharp decline in gold price follows renewed optimism over global trade deals, particularly between the US and China, which has significantly reduced safe-haven demand for gold," says Jateen Trivedi from LKP Securities.
Oil prices fell 16 percent in April as Reuters reported that Saudi Arabia hinted being unwilling to support the oil market with more supply cuts.
US President Donald Trump’s statement that tariff talks with India are in a positive direction enthused investors, forex dealers said.H
Gold's June contracts on the Multi Commodity Exchange of India (MCX) opened at Rs 95,353 per 10 gram on April 30.
The pursuit of the safe haven and diversification benefits in times of uncertainty lent strength to the price rally, which itself helped drive momentum in investment higher.
Motilal Oswal Financial Services advised investors to buy gold on dips, with a target of Rs 1,06,000 in the long term.
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.94 million acres (1 acre = 0.4 hectares) as of Wednesday, up 17.2% from 6.77 million acres a year ago, according to a report released by the state agriculture department.
Jio Gold 24K Days are days around special occasions, during which users of the JioFinance and MyJio apps can benefit from special offers while purchasing digital gold, said the company
"The recent downside was triggered by growing expectations of a possible trade thaw between the US and China," said Jateen Trivedi from LKP Securities.
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.94 million acres (1 acre = 0.4 hectares) as of Wednesday, up 17.2% from 6.77 million acres a year ago, according to a report released by the state agriculture department.
Next week’s calendar is packed with key releases, including US jobs, first-quarter GDP, and the crucial inflation gauge, core PCE, all of which will be closely watched for clearer evidence on the state of the economy amid concerns that new tariffs is dampening growth and inflation outlook.
Gold's June contracts on the Multi Commodity Exchange of India (MCX) traded at Rs 95,999 per 10 gram on April 25.
This comes as the yellow metal's prices skyrocketed as investors shifted to safe haven assets amid global uncertainties.
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.94 million acres (1 acre = 0.4 hectares) as of Wednesday, up 17.2% from 6.77 million acres a year ago, according to a report released by the state agriculture department.
Brent crude futures gained 5 cents to $66.60 a barrel by 0001 GMT, on track to fall 2% for the week.
According to Geojit Financial Services, Indian farmers have sown summer crops across 6.88 million hectares as of Friday, up 15.2% on year from 5.97 million hectares sown in the same period a year ago, according to data released by the agriculture ministry relased on Monday.
The commodity, used in everything from household kitchens to processed foods to soaps, had seen prices hold firm even as others such as crude oil were falling sharply
Bullion rose as much as 1.5% in Asian trading, after plunging 2.7% in the previous session.
Analysts said that the dip in gold prices came after US Treasury Secretary Scott Bessent remarked that the ongoing tariff dispute with China is unsustainable and hinted at a potential de-escalation. This reduced the safe-haven appeal of precious metals.
According to Geojit Financial Services, Indian farmers have sown summer crops across 6.88 million hectares as of Friday, up 15.2% on year from 5.97 million hectares sown in the same period a year ago, according to data released by the agriculture ministry relased on Monday.
Gold prices surged to a record high in India ahead of Akshaya Tritiya and a sharp rally in the global markets.
Trump called on the Fed to cut rates immediately, a move seen as a threat to the central bank’s independence that drove the dollar to the lowest since late 2023.
The spotlight remains on US trade negotiations with the EU and China. President Trump has expressed optimism over-reaching agreements with both key partners, though he has yet to offer concrete details or a timeline.
According to Geojit Financial Services, Sowing of summer crops in Gujarat progressed to 1.2 million hectares as of Tuesday, up 6.5% from 1.1 million hectares a year ago, according to a release by the state agriculture department.
