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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 firms as dollar eases, focus on Fed cues June 08, 2023 03:32 PM IST

    Gold firms as dollar eases, focus on Fed cues

    Spot gold rose 0.4% to $1,946.58 per ounce by 0937 GMT after shedding 1% in the previous session. U.S. gold futures rose 0.2% to $1,961.50.

  • Gold near two-month low on surprise rate hikes in Australia, Canada June 08, 2023 03:09 PM IST

    Gold near two-month low on surprise rate hikes in Australia, Canada

    Conditions are hinting at a challenging environment for gold, with various factors weighing on international prices.

  • Gold steady near $1950, as focus turns to US Fed's June 14 meeting June 07, 2023 05:56 PM IST

    Gold steady near $1950, as focus turns to US Fed's June 14 meeting

    Gold has recently retreated from the $2,000 an ounce levels and now all eyes are on the Federal Reserve, Japan GDP numbers and China data.

  • Aditya Birla Group forays into branded jewellery retail with Rs 5,000-crore bet June 06, 2023 12:51 PM IST

    Aditya Birla Group forays into branded jewellery retail with Rs 5,000-crore bet

    This new foray will be housed under Novel Jewels, which will have large-format exclusive jewellery retail stores across India, with in-house jewellery brands

  • Gold rises as dollar sheds gains against peers June 06, 2023 12:30 PM IST

    Gold rises as dollar sheds gains against peers

    The pullback in Dollar index has helped gold shine on. The probability of the Fed pausing rates stands at 78%, providing support to the gold market.

  • US debt-ceiling deal: Could gold price appreciate by 25 percent? May 30, 2023 03:58 PM IST

    US debt-ceiling deal: Could gold price appreciate by 25 percent?

    This PMS manager argues that global banks will now increase their holdings in the yellow metal significantly.

  • Gold Price At Two-month Lows | Strong Recovery In US Yields | Commodities Live May 30, 2023 02:01 PM IST

    Gold Price At Two-month Lows | Strong Recovery In US Yields | Commodities Live

    Gold price hit a two-month low. Most banks still expect higher gold by the end 2023. Catch Manisha Gupta on Commodities Live.

  • Gold edges higher as traders eye US debt ceiling, Fed minutes May 24, 2023 06:03 PM IST

    Gold edges higher as traders eye US debt ceiling, Fed minutes

    Spot gold was up 0.3% to $1,981.46 per ounce by 1215 GMT, while U.S. gold futures gained 0.5% to $1,984.30.

  • Commodities Live: Copper prices at a six-month low | Silver prices declined by 8% in May May 24, 2023 02:46 PM IST

    Commodities Live: Copper prices at a six-month low | Silver prices declined by 8% in May

    Copper, Zinc and Nickel prices have declined drastically. An International study group has pointed towards a largest supply demand surplus in a decade. Silver prices record an 8% dip in May. Watch Manisha Gupta live on Commodities.

  • The new gold boom: how long can it last? May 24, 2023 11:22 AM IST

    The new gold boom: how long can it last?

    Periods of inflation have often boosted the precious metal. This time it is also being bought by central banks worried about geopolitical risk

  • Gold steadies as US debt-ceiling talks make little progress May 23, 2023 08:48 PM IST

    Gold steadies as US debt-ceiling talks make little progress

    Spot gold was mostly unchanged at $1,968.79 per ounce by 14:35 GMT after shedding as much as 0.8% earlier.

  • Ground Report | No panic in gold jewellery market on Rs 2,000 note withdrawal May 23, 2023 02:49 PM IST

    Ground Report | No panic in gold jewellery market on Rs 2,000 note withdrawal

    Some jewellers who sought a premium for gold purchases using Rs 2,000 notes were rebuffed by customers, while others printed posters to lure buyers.

  • US Fed on brink of policy U-turn? Time may be right to think gold May 23, 2023 08:05 AM IST

    US Fed on brink of policy U-turn? Time may be right to think gold

    We can expect from the Fed interest rate cuts and money supply expansion to save the economy from this self-created downcycle and into the next cycle of high inflation.

  • Gold dips as Fed officials suggest higher-for-longer US rates May 22, 2023 08:27 PM IST

    Gold dips as Fed officials suggest higher-for-longer US rates

    Spot gold fell 0.2% to $1,973.40 per ounce by 10:45 a.m. ET (1445 GMT). U.S. gold futures fell 0.3% to $1,974.80.

  • Jewellers getting more inquiries for gold after RBI withdraws Rs 2,000 notes; no panic buying May 22, 2023 10:29 AM IST

    Jewellers getting more inquiries for gold after RBI withdraws Rs 2,000 notes; no panic buying

    However, there is no panic buying of the precious metal unlike the situation witnessed in 2016 during demonetisation, jewellers body GJC said on Sunday.

  • Commodities Live: Commodities eye the G7 meeting, Powell speech today May 19, 2023 01:57 PM IST

    Commodities Live: Commodities eye the G7 meeting, Powell speech today

    49th G-7 meeting starts in Japan today. Summit expected to announce tightened sanctions on Russia. EU to broaden sanctions to third countries importing crude from Russia. EU, UK plans to announce ban on Russia diamonds. Watch Commodities with Manisha Gupta to know the latest!

  • What's behind the central bank’s hoarding of gold May 16, 2023 11:31 AM IST

    What's behind the central bank’s hoarding of gold

    The freezing of Russia’s forex reserves by the US has led to several central banks increasing the share of gold in their assets

  • Gold ticks up as US debt ceiling talks drag on May 15, 2023 05:28 PM IST

    Gold ticks up as US debt ceiling talks drag on

    Spot gold was up 0.1% to $2,013.99 per ounce by 1132 GMT, having hit its lowest since May 5 on Friday. U.S. gold futures were mostly unchanged at $2,018.80.

  • Man swallows 7 gold biscuits to avoid custom officials, arrested May 14, 2023 11:36 AM IST

    Man swallows 7 gold biscuits to avoid custom officials, arrested

    The man, identified as 30-year-old Intizar Ali, was booked by officials for smuggling seven gold biscuits while traveling to Mumbai from Dubai.

  • Commodities Live: Dollar strength pushes metal prices to multi-month lows | Inflation falls in China May 12, 2023 01:01 PM IST

    Commodities Live: Dollar strength pushes metal prices to multi-month lows | Inflation falls in China

    Metals fall to multi month lows on dollar strength. Lower inflation data from China. LME Copper at 4 mth low, falls below $8400 a ton. Comex Copper at 18week low. LME inventories rise to 75,950 tons. Watch Commodities with Manisha Gupta to know more. #live #commodities #metals

  • Gold rebounds as US inflation data boosts Fed rate-hike pause bets May 10, 2023 06:54 PM IST

    Gold rebounds as US inflation data boosts Fed rate-hike pause bets

    The U.S. dollar and Treasury yields fell after the Labor Department reported that the consumer price index (CPI) rose 0.4% last month, in line with estimates.

  • King Dollar and Queen Gold are here to stay May 10, 2023 09:06 AM IST

    King Dollar and Queen Gold are here to stay

    Growing geopolitical uncertainty is a common factor that is making the US dollar and gold hard to ignore for investors. For the dollar, its lion’s share in central bank reserves and all cross-border deals ensures its supremacy

  • Gold gains with focus on US inflation readings May 09, 2023 04:26 PM IST

    Gold gains with focus on US inflation readings

    Spot gold rose 0.5% to $2,030.43 per ounce by 1021 GMT, while U.S. gold futures added 0.2% to $2,037.90.

  • Gold imports dip 24% to $35 billion in 2022-23 May 07, 2023 02:34 PM IST

    Gold imports dip 24% to $35 billion in 2022-23

    Gems and jewellery exports declined by 3 per cent to about USD 38 billion during 2022-23.

  • India's gold demand in January-March drops by 17% to 112.5 tonnes due to high prices: WGC May 05, 2023 01:29 PM IST

    India's gold demand in January-March drops by 17% to 112.5 tonnes due to high prices: WGC

    Overall gold demand during the corresponding quarter in 2022, was at 135.5 tonnes, WGC's Gold Demand Trends Q1 2023 stated.