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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.
Bullion rose as much as 0.4% to $3,357.78 an ounce on Thursday, before paring gains
Gold price jumped to Rs 95,090 per 10 gram, its fresh all-time high, on April 16 before paring some gains
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.8 million acres (1 acre = 0.4 hectares) as of Wednesday, up 15.4% on year from 6.8 million acres a year ago, according to a report released by the state agriculture department.
While gold experienced a dip in March when stock markets gained traction from renewed foreign investor participation in local equities, the precious metal showed resilience in April
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.8 million acres (1 acre = 0.4 hectares) as of Wednesday, up 15.4% on year from 6.8 million acres a year ago, according to a report released by the state agriculture department.
Next week, Chinese economic data will also be in focus, while the European Central Bank is widely expected to cut rates by 25 basis points at its April meeting.
Analysts said the precious metal hitting lifetime high levels in the international markets on strong safe-haven demand amid escalating US-China trade tensions boosted the domestic prices.
According to Geojit Financial Services, Private weather forecaster Skymet has predicted a 'normal' southwest monsoon for India at 103% of the longperiod average, with an error margin of +/-5%. The season is likely to begin with relatively less rains, as the forecaster predicts rainfall in June at 96% of the long-period average.
Bullion gained as much as 1.3% in early Asian trading on Friday
India’s FMCG sector continues to be under pressure, showed March quarter's early updates. The unsettling of global commodity markets by US tariff hikes may, however, bring some benefits
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.6 million acres (1 acre = 0.4 hectares) as of Wednesday, up 13.2% on year from 6.7 million acres sown in the same period last year, according to a report released by the state agriculture department.
Silver prices also rose, with MCX Silver May futures opening at Rs 88,898 per kg on April 8.
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.6 million acres (1 acre = 0.4 hectares) as of Wednesday, up 13.2% on year from 6.7 million acres sown in the same period last year, according to a report released by the state agriculture department.
Spot gold was down 0.3% at $3,027.90 an ounce as of 0331 GMT, after dropping over 1% earlier in the session to its lowest since March 13
The initial reaction of metal stocks to Trump's 26 percent tariff was one of relief but it soon turned to despair
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.6 million acres (1 acre = 0.4 hectares) as of Wednesday, up 13.2% on year from 6.7 million acres sown in the same period last year, according to a report released by the state agriculture department.
Commodities were hit hard, with copper and crude oil falling more than 5 percent on Friday alone, and closing the week over 10 percent lower.
Nations around the world have readied retaliation after Trump raised tariff barriers to their highest in more than a century, leading to a plunge in world financial markets.
Fuelling the oil sell-off was a decision by the Organization of the Petroleum Exporting Countries and its allies, known collectively as OPEC+, to advance plans for output increase
According to Geojit Financial Services, Sowing of rabi crops in Telangana was at 7.6 million acres (1 acre = 0.4 hectares) as of Wednesday, up 13.2% on year from 6.7 million acres sown in the same period last year, according to a report released by the state agriculture department.
India’s gems and jewellery industry is bracing for impact and so is the agriculture sector in the near-term, with the possibility of re-routing.
