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Gold, counted among the most precious metals of the world, has played a key role in the monetary framework. It is also used for producing gold bars, bullion coins and similar units of fixed purity and weight, which makes gold a medium to store wealth in hoards. The utility of gold in the monetary framework increased in the period leading to the first World War, when warring countries decided to use fractional gold standards in bid to inflate their currencies. The move was aimed at financing the war costs, point out experts. Following the war, the United Kingdom had begun restoring gold-convertibility, but global outflows of gold in the forms of bills of exchange remained embargoed. International shipments at the time were restricted exclusively for war reparations and bilateral trade. Following the second World War, gold was swapped by a regime of nominally convertible currencies regulated by fixed exchange rates -- based on the Bretton Woods system. In the period to come, gold standards and the direct convertibility of currencies to the precious metal was discontinued by most countries. This move was led by the United States of America, which decided not to redeem its dollars into gold in 1971. Currently, fiat currency fulfils most monetary roles in the world. More

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  • Gold Prices Today: Inflationary worries, slowdown concerns to support yellow metal despite impending interest rate hike Jul 05, 2022 09:39 AM IST

    Gold Prices Today: Inflationary worries, slowdown concerns to support yellow metal despite impending interest rate hike

    Gold prices may move towards Rs 52700 levels while it has support at Rs 51600. Silver has support at Rs 58000 and resistance at Rs 59800, said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.

  • Gold slips as interest rate expectations sap appeal Jul 04, 2022 08:37 PM IST

    Gold slips as interest rate expectations sap appeal

    On Monday, gold prices declined as expectations for higher interest rates reduced demand for the non-yielding asset. However, a weaker dollar allowed gold to maintain its position above the $1,800 support level.

  • Gold gains Rs 241 amid firm global trends Jul 04, 2022 03:20 PM IST

    Gold gains Rs 241 amid firm global trends

    In the previous trade, the yellow metal settled at Rs 51,807 per 10 grams.

  • Gold Prices Today: Yellow metal to remain subdued amid global macro concerns, support around Rs 51,640–51,420 Jul 04, 2022 09:42 AM IST

    Gold Prices Today: Yellow metal to remain subdued amid global macro concerns, support around Rs 51,640–51,420

    Pritam Patnaik, head - commodities, HNI and NRI acquisitions, Axis Securities, expects gold prices to remain under pressure for some time now. If $1800 per ounce is again breached, a move towards $1780-1760 cannot be ruled out. Bulls will only return if $1845 levels are taken out on the upside.

  • Gold teeters above $1,800 as lower yields counter dollar strength Jul 04, 2022 09:28 AM IST

    Gold teeters above $1,800 as lower yields counter dollar strength

    Spot gold was up 0.1% at $1,811.99 per ounce, by 0319 GMT. U.S. gold futures rose 0.6% to $1,812.10. Bullion prices hit a five-month low of $1,783.50 on Friday, but recovered to end the session early steady.

  • Australia will ban Russian gold imports, give Ukraine more armoured vehicles: PM Anthony Albanese Jul 04, 2022 06:32 AM IST

    Australia will ban Russian gold imports, give Ukraine more armoured vehicles: PM Anthony Albanese

    Speaking at a press conference in Ukraine's capital alongside President Volodymyr Zelenskiy, Albanese said Australia would impose sanctions and travel bans on 16 more Russian ministers and oligarchs, bringing the total number of Russian individuals sanctioned by Australia to 843.

  • Rupee rebounds from all-time low, rises 12 paise to 78.94/USD Jul 01, 2022 07:55 PM IST

    Rupee rebounds from all-time low, rises 12 paise to 78.94/USD

    The Centre on July 1 said it has hiked the gold import duty to 15 per cent from 10.75 percent amid an increase in the yellow metal’s imports, which is putting pressure on the current account deficit.

  • Gold jumps Rs 1,088 amid import duty hike Jul 01, 2022 04:02 PM IST

    Gold jumps Rs 1,088 amid import duty hike

    In the previous trade, the precious metal finished at Rs 50,370 per 10 grams.

  • Gold prices may rise by Rs 2,000 per 10 gm as govt hikes import duty Jul 01, 2022 03:59 PM IST

    Gold prices may rise by Rs 2,000 per 10 gm as govt hikes import duty

    With domestic gold prices surging, demand is likely to take a hit at a time when the country is already grappling with high inflation, say analysts.

  • Titan slips 3% as India raises gold import tax Jul 01, 2022 11:35 AM IST

    Titan slips 3% as India raises gold import tax

    India is currently staring at higher trade and current account deficits amid volatile global macroeconomic conditions, partly due to large imports of gold

  • Gold set for third weekly fall on dollar strength, aggressive rate hikes Jul 01, 2022 10:17 AM IST

    Gold set for third weekly fall on dollar strength, aggressive rate hikes

    Spot gold was down 0.2% at $1,804.26 per ounce, as of 0258 GMT, after hitting an over six-week low of $1,801.50 in the previous session. U.S. gold futures dipped 0.1% to$1,805.00.

  • Gold Prices Today: Precious metals to remain under pressure amid looming interest rate hike Jul 01, 2022 09:53 AM IST

    Gold Prices Today: Precious metals to remain under pressure amid looming interest rate hike

    Gold and silver prices will remain under pressure in today’s session. The yellow metal has support at $1796-1785, while resistance is at $1818-1828, said Rahul Kalantri, VP Commodities at Mehta Equities.

  • Gold Prices Today: Yellow metal to remain range-bound on hawkish US Fed, slowdown fears Jun 30, 2022 09:51 AM IST

    Gold Prices Today: Yellow metal to remain range-bound on hawkish US Fed, slowdown fears

    Prices of precious metals may remain down today and selling pressure is expected if price rises towards resistance levels, said Nirpendra Yadav, senior commodity research analyst at Swastika Investmart.

  • Gold set for worst quarter in five as dollar dominates Jun 30, 2022 09:39 AM IST

    Gold set for worst quarter in five as dollar dominates

    Spot gold was flat at $1,817.07 per ounce by 0339 GMT. U.S. gold futures edged up 0.1% to $1,819.70.

  • Gold choppy as investors weigh rate hikes against recession risks Jun 29, 2022 09:09 PM IST

    Gold choppy as investors weigh rate hikes against recession risks

    Gold prices see-sawed caught between headwinds from aggressive interest rate hikes and growing recession risks

  • Why are multi-asset allocation funds gain traction? Jun 29, 2022 12:44 PM IST

    Why are multi-asset allocation funds gain traction?

  • Gold Prices Today: Yellow metal to find support from weak rupee; aggressive US Fed to cap upside gains Jun 29, 2022 09:56 AM IST

    Gold Prices Today: Yellow metal to find support from weak rupee; aggressive US Fed to cap upside gains

    Tapan Patel, Senior Analyst (Commodities) at HDFC Securities, expects gold prices to trade sideways to down for the day with COMEX spot gold support at $1810 and resistance at $1840 per ounce. MCX Gold August support lies at Rs 50500 and resistance at Rs 51000 per 10 grams, he said.

  • Gold prices buoyed by lower US bond yields Jun 29, 2022 09:17 AM IST

    Gold prices buoyed by lower US bond yields

    Spot gold was up 0.1% at $1,821.57 per ounce by 0254 GMT. U.S. gold futures firmed 0.1% at $1,823.10.

  • Rupee weakens: What should you do? Jun 28, 2022 12:10 PM IST

    Rupee weakens: What should you do?

  • Gold Prices Today: Yellow metal to witness range-bound movement, selling pressure expected at higher levels Jun 28, 2022 09:54 AM IST

    Gold Prices Today: Yellow metal to witness range-bound movement, selling pressure expected at higher levels

    "Precious metals prices may remain range-bound whereas the upper range may witness selling pressure. Gold has resistance at Rs 51100 and support at Rs 50400. Silver has resistance at Rs 61000 and support at Rs 59500," said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.

  • Gold prices steady as investors await fresh impetus Jun 28, 2022 09:08 AM IST

    Gold prices steady as investors await fresh impetus

    Spot gold held its ground at $1,824.51 per ounce, as of 0246 GMT. U.S. gold futures were flat at $1,824.50.

  • MC Explains | How sovereign gold bonds received Rs 16,000 crore in 2021-22 Jun 28, 2022 08:13 AM IST

    MC Explains | How sovereign gold bonds received Rs 16,000 crore in 2021-22

    Traditionally, investors looked at gold as an effective hedge against volatility in the stock market. Over the last few years, increasing digitisation also ensured that more investors get to invest in a convenient manner.

  • Gold Prices Today: Volatile trading on cards as recession fear, hawkish Fed haunt markets Jun 27, 2022 10:00 AM IST

    Gold Prices Today: Volatile trading on cards as recession fear, hawkish Fed haunt markets

    Gold may remain a range amid warring factors however Fed’s tightening expectations may keep pressure on prices, said Ravindra Rao, VP- Head Commodity Research at Kotak Securities.

  • Gold rises as G7 nations plan to ban bullion imports from Russia Jun 27, 2022 09:21 AM IST

    Gold rises as G7 nations plan to ban bullion imports from Russia

    Spot gold rose 0.5% to $1,835.58 per ounce by 0231 GMT. U.S. gold futures were up 0.3% at $1,836.30.

  • Joe Biden urges G7 to stay together as leaders target Russian gold, oil price Jun 27, 2022 07:05 AM IST

    Joe Biden urges G7 to stay together as leaders target Russian gold, oil price

    At the start of the meeting in the Bavarian Alps, four of the Group of Seven rich nations moved to ban imports of Russian gold to tighten the sanctions squeeze on Moscow and cut off its means of financing the invasion of Ukraine.

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