Gold investment interest is expected to remain strong, even as jewellery demand faces pressure from record-high prices, according to a report released by the World Gold Council (WGC). WGC said that the financial year-end dynamics, which include statutory payments and tax-saving investments, may curtail discretionary spending, further weighing down demand. However, price stability could be…
A stellar rally that has lifted global gold prices to all-time highs has cast a shadow on jewellery purchases for India’s wedding season, while dealers in China offered discounts to lure buyers. Benchmark gold prices hit a record $2,942.70 an ounce this week as fears of a global trade war, spurred by possible new U.S….
Gold price: International precious metals prices strengthened, with gold reaching historic peak. (AI image) Gold price today: Gold April futures on MCX soared beyond Rs 86,000/10 gram, with the precious metal beginning Tuesday at a fresh peak of Rs 86,350 per 10 grams, showing a rise of 0.62% or Rs 534.Silver March futures were up…
Kolkata: Gold crossed the ₹85,000 mark for the first time on Monday in the physical market as safe-haven demand for the metal surged on fears of a global trade war after US President Donald Trump announced new tariff plans. The precious metal was trading at ₹85,665 per 10 gm, up from ₹84, 699 per 10…
The Union Budget has put a check on illegal imports of gold under the disguise of platinum alloy, which was being done using a loophole in the trade deal with UAE under the Comprehensive Economic Partnership Agreement (CEPA). The Budget has introduced a separate HS (Harmonised System) code for platinum alloy so that no other…
New Delhi: As Finance Minister Nirmala Sitharaman prepares to present the Union Budget on February 1, 2025, the jewellery industry remains hopeful of consumption-boosting measures. The 2024 Budget’s decision to reduce import duties on gold and silver to 6 per cent was expected to drive demand and curb smuggling. However, industry leaders argue that while…
Data from the India Bullion and Jewellers Association (IBJA) showed 24-carat gold closed at Rs 80,194 per 10 gms. (AI image) Gold prices surpassed Rs 80,000/10 gm for the first time on Wednesday, according to data from a leading industry organisation, reflecting increased safe-haven demand from investors concerned about potential market volatility following an anticipated…
Kolkata: Gold prices rose by 1% on Tuesday following a weakening of the dollar after US President Donald Trump’s policy announcements, prompting Indian consumers to pause purchases of the yellow metal. The gold industry is concerned that the upward price momentum may continue this week if the dollar weakens further, denting sales. Gold was trading…
Jewellery demand is expected to gradually recover from mid-January, primarily driven by wedding purchases, according to a World Gold Council (WGC) report. Demand, however, will be favourably influenced by gold price stability. The recent trend in investment demand is expected to continue, the report said. Consumers have been hesitant about buying gold jewellery due to…
Gold prices dipped to $2664 following the release of the US nonfarm payroll report as the US yields and the Dollar Index surged on robust job data. However, the metal recovered quickly as the US yields and the Dollar Index eased slightly from their respective day’s highs. The metal traded between $2614 (January 6) and…
