In recent days, gold prices have experienced a significant downturn, dropping to a five-week low in the domestic markets. Market experts attribute this decline to concerns over the US Federal Reserve potentially increasing interest rates, as well as a slew of robust economic data coming out of US
Gold and silver prices have shown slight weakness or have remained steady during early U.S. trading on Thursday, in the wake of a U.S. inflation report that disclosed an increase in inflation.
In a noble initiative, the sarpanch has decided to give out gold coins in exchange for polythene to prevent household plastic waste from being dumped into fields and water bodies.
According to ANZ Bank strategists, the price of gold has dropped below $1,850, which is the lowest it has been since early January.
Investors were awaiting the release of the US Consumer Price Index (CPI) data, which measures inflation and can impact the value of the precious metal.
Midday trading in the U.S. has seen a decrease in gold and silver prices, with silver hitting its lowest point in 2.5 months and gold reaching a five-week bottom. The recent decline in technical outlook for both metals has triggered some selling pressure.
Gold price news: Gold prices remain near a one-month low, with a stronger US dollar having a significant impact on the precious metal's performance. Despite the negative pressure, market analysts continue to monitor the situation, forecasting possible fluctuations in the near future.
The gold market has seen a rise following Federal Reserve Chairman Jerome Powell's comments on inflation, which caused a decline in the value of the US dollar.
In the wake of recent economic uncertainty and a growing concern over inflation, many investors are turning to gold as a safe haven asset. With gold prices reaching new highs, demand for the precious metal has skyrocketed, as investors look to protect their wealth and ensure long-term stability.
The gold market in India saw a significant rally as prices rose by Rs 770 per 10 grams. The increase in prices was attributed to strong global trends and a weak US dollar.
Global gold demand reached an 11-year high in 2022, fueled by both retail and central bank purchases. This surge in demand is attributed to a number of factors, including economic uncertainty and low-interest rates, which have caused investors to seek safe-haven assets such as gold.
The Fed's decisions regarding interest rates can impact the demand for gold, which is often seen as a safe-haven asset during times of economic uncertainty. Market participants are closely monitoring the Fed's meeting for any changes to interest rate policy, which could affect the value of gold.
The gold market has recently seen stability in prices, with the precious metal experiencing a negligible change in prices.
According to Goldman Sachs, Gold is less likely to be influenced by tighter financial conditions which makes it "a useful portfolio diversifier" in comparison to Bitcoin.
According to the bank officials, over 1.8 kg of gold worth about ₹1 crore has been stolen.
Kashmir: The president of Pahalgam taxi stand said that Akash Farooq Wani, a taxi driver in the tourist resort has returned gold worth Rs 10 lakh to a tourist from Hyderabad.
This unique ATM machine was launched on December 3 in Hyderabad. This is India's first as well as the world's first real-time Gold ATM.
Madhya Pradesh: The customs and police personnel conducted a search of the Gwalior-bound passengers on the basis of a tip-off from the Directorate of Revenue Intelligence.
The gold was seized under Section 110 of Customs Act. Both the passengers were placed under arrest in terms of violation of Section 104 of the Customs Act.
In a similar incident, the AIU seized 2219.94 grams of gold worth 94 lakhs at Kochi airport on Saturday.
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