Any slowdown in global growth is likely to pause the bull run in silver, as the demand from manufacturers could take a beating. Historically, any rise in silver prices has been closely linked to global economic growth.
Scientists studied volcanic rocks from deep below the lithosphere. These rocks surfaced through magma plumes beneath ocean islands like Hawaii.
Spot gold was up 1.4% at $2,796.15 per ounce, as of 11:07 a.m. (1603 GMT), hitting its record high level at $2798.24 earlier in the session. U.S. gold futures climbed 2% to $2,824
In the last 20 years, gold as an asset class has had only four negative years, with no double-digit negative return years. Compare this to Sensex, which has had two 25% plus negative years in the last two decades.
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The safe haven allure and the ongoing run up in gold has prompted investors to crave expert opinions, even from timeless quotes on the precious metal, to fathom how much longer could the rally sustain.
The rally in gold continues with prices hitting an all-time high. Strong physical demand for gold is also fueled by its appeal as a safe-haven asset and investors looking to diversify amid lackluster performances in other asset classes. Catch Manisha Gupta with more details
Gold surged to record high this week in MCX as weak US economic data and US regional banking jitters have given bulls the boost needed to break out from the last 2 months consolidation. The breakout has been spectacular and has baffled many traders with the ferocity of the move. Gold hits record high at near $2200 an oz India Gold hits all time high above Rs 66,000/10gms .Biggest weekly percentage rise since Mid October .Prices +4% over week, +8% on month. Traders see near 70% chance of 25bps rate cut. Catch Manisha Gupta with more details
Gold hits all time high of $2,152/oz. India Gold surges at record above Rs 65000/10gms. Gold gained 19% in the last one year and 6% in the last one month. Catch Manisha Gupta in conversation with Surendra Mehta of IBJA as they discuss surging gold prices. Watch here
Demand for diamonds is going up not just in the metros but also in Tier 2 and 3 cities, as more and more consumers want diamonds along with traditional gold jewellery, Pratihari, VP, De Beers Forevermark, has said
Gold and Silver prices are at 2023-low with Gold prices falling over 6.2% in a month and Silver losing more than 12%. India wedding demand in May-June is expected to be higher as prices fall.
In the previous trade, the precious metal had touched Rs 50,265 per 10 grams.
Today's trend in precious metals may remain down. Gold has support at Rs 51450 and resistance at Rs 51900. Silver has support at Rs 54000 and resistance at Rs 56000, said Nirpendra Yadav, Senior Commodity Research Analyst at Swastika Investmart.
Traders and investors continue to assess three major factors— the Russia-Ukraine war, new COVID lockdowns in China and rising global inflation—that are impacting the market
According to Manoj Kumar Jain, Prithvi Finmart Commodity Research, gold has support at Rs 50580-50350 and resistance at Rs 51000-51220 while silver has support at Rs 66450-66000 and resistance at Rs 67500-68100 levels.
As economies open up and huge fiscal and monetary stimuli in developed countries spur infrastructure and job creation, the commodity rally will continue, said experts.
Experts are of the view that investors can buy the dip towards Rs 49,950 for an upside target of 50,550 in the near term. Support for silver is at Rs 67,800.
Gold and silver prices remain firm and further stimulus talks from developed economies and weakness in dollar index will continue to support prices.
With some hand-holding from local authorities, the world’s biggest technology manufacturers can transform e-waste management into a feasible revenue source.
Watch the interview of David Lennox of Fat Prophets and Kishore Narne of Motilal Oswal with Manisha Gupta on CNBC-TV18. They speak about the current trends in the metals and precious metals space in the commodities market.
Watch the interview of Bernard Dahdah, Precious Metals Analyst at Natixis with Manisha Gupta on CNBC-TV18. He spoke about why he thinks base metals is a space that is going to be more bullish and precious metals could come under some pressure.
Watch the interview of Adrian Ash of Bullion Vault with Manisha Gupta on CNBC-TV18. He speaks about the current trends in precious metals in the commodities market.
Under the new proposals, customs officials in European Union states will be able to step up checks on cash and prepaid payment cards transferred via the post or through freight shipments.
Watch the interview of Shekhar Bhandari, Senior Vice President and Business Head, Global Transaction Banking & Precious Metals, Kotak Mahindra Bank with Manisha Gupta on CNBC-TV18, in which he shared his reading and outlook on precious metals.