Page 39 - Gold

Gold hits 3-week high in Singapore, as dollar dives to 13-month low

A weaker dollar makes US dollar-denominated gold more attractive for buyers using other currencies

Gold prices hit two-week high as dollar slides amid imminent Fed rate hike

Jump was spurred by consumers buying ahead of July's increase in GST, says GFMS analysts

Gold settles below Rs 29,000-mark on slack demand, silver rules firm

Silver advanced by Rs 180 to Rs 38,180 per kg, riding on increased offtake by industrial units

Reverse the trend

Investments for various productive activities in the realty sector are sluggish

Gold loses sheen, silver plunges below Rs 36,000

Standard gold (99.5 purity) dropped by Rs 390 to conclude at Rs 27,695 per 10 grams

Gold prices down Rs 250 per 10 g, slides below Rs 29k as dollar clout grows

Gold as a safe haven instrument lost its appeal globally

Weaker dollar and stock market jitters drive gold higher

Gold prices have been held down in recent months

Physical gold is getting old

Losing its sheen as both a hedge against inflation and a safe investment avenue

Views differ on gold's investment use after its low returns in past 5 years

Is gold losing its age-old status as a store of value? Sanjeev Prasad, head of Kotak Institutional Equities, believes so. He points to the less than satisfactory return it has shown as an investment over the past five years.India, he says, imported and 'consumed' over $300 billion worth of gold between 2007-08 and 2016-17, financing the resultant trade deficit through large capital flows. Some of which has gone into increased foreign ownership of Indian companies, now at almost 25 per cent of the top-200 stocks. Foreign Portfolio Investors bought $124 bn of Indian equity over FY08-17, the value of their holding going to $368 bn (BSE-200 Index basis) as of end-March 2017, versus $132 bn at end-March 2007. Gold prices, he says, rose three-fold in rupee terms over this period. He says the bulk of the FPI investment and of gold import happened during years of high inflation. With inflation now coming under control, he says, and the Reserve Bank targeting lower inflation than in the past, .

Gold back at last year's Brexit level

The global price of gold is again around the same level as a year before, just before a majority of British citizens voted to exit the European Union.In June 2016, speculation on the Brexit vote pulled gold from $1,204 to $1,256 an ounce. When the voting result was out on June 23, the rally continued till $1,366 an oz in July. Now, though, gold is back to trading around $1,250 an oz. In India, standard gold in Mumbai closed at Rs 29,530 per 10g on June 23 last year; now, it is Rs 28,695 per 10g, about 2.8 per cent less.Ross Strachan, precious metals demand manager at GFMS Thomson Reuters, said: ""On June 23, when the UK voted to leave, the pound took a sharp plunge and the price of gold in sterling terms gained 25 per cent in the fortnight after. But, the impact was shortlived. Thereafter, the vote had no tangible effect. At the higher gold price, scrap inflow increased to multi-year highs, while jewellery and investment demand saw a marked drop. Given the political uncertainty since .

Gold makes run toward $1,300 as risk flares from UK to West Asia

Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed ties with Qatar

Gold set for first monthly drop since December as Fed rate hike likely

Spot gold may break a support at $1,257 per ounce and fall to the next support at $1,245

Gold at highest since May 1 on political uncertainty, dollar weakens

Gold is used as an alternative investment during times of political and financial uncertainty

Gold smuggling back on track as cash availability improves

Gold smuggling had taken a back seat after the demonetisation announcement on November 8, as cash availability was hit. With the latter situation reversing, smuggling has also increased. According to GFMS, the research and consultancy company for precious metals, supply of smuggled gold came under stress between November 2016 and mid-March of 2017. Supplies from this source were estimated at close to 1.3 tonnes a week in the four quarter of 2016, rising to 1.9 tonnes a week in the first quarter this year. This means eight to 10 tonnes a month is entering India through 'unofficial channels'. Market inquiry shows the 'havala premium' for getting dollars unofficially (required to finance gold smuggling, by paying unaccounted cash in India) was 5.6-6 per cent in December but is now the normal three per cent, making smuggling attractive. When payments were high, inflows were happening because smugglers wanted to keep alive the chain they had set up, explained a market source.Sudheesh ...

Gold remains up on global cues, jewellers' buying

Globally, gold rose 0.24% to $1,227.70 an ounce

Gold recovers after 2 days of losses, still set for worst week in 6 months

Spot gold rose 0.6 percent to $1,234.55 an ounce by 0940 GMT

India's gold demand up 15% in Q1 post note ban; GST, monsoon key: WGC

Coming from the demonetisation shock in the last quarter of calendar year 2016 (CY16), the demand for gold jewellery rose 16% to 92.3 tonnes in the first quarter of calendar year 2017 (Q1CY17), says the latest World Gold Council (WGC) report titled Gold Demand Trends Q1 2017. It was the third such instance in a decade where the total demand was less than 100 tonnes. The rise also pushed the world gold jewellery demand higher in the recently concluded quarter, which was up by 1% at 480.9 tonnes. The overall consumer demand for gold in Indian during the March 2017 quarter stood at 123.5 tonnes, a 15% rise as compared to the previous corresponding period.WGC attributes spurt to the government's remonetisation efforts. By March-end, nearly 85% of the value of currency removed from circulation under demonetisation had been returned. That apart, the Reserve Bank of India (RBI) also eased temporary restrictions on withdrawal from bank accounts, aiding cash dependent rural demand in ...

India gold demand seen muted as jewellers fear GST roll out: WGC

The WGC kept its forecast for India's full-year demand at 650 tonnes to 750 tonnes

Bullion trade panels on self-regulation, spot exchange

The technical committee for the good delivery rules is expected to give its paper within 90 days

Gold worth about Rs 71 lakh seized from 2 women at Hyderabad airport

Both the women had concealed the gold bars in their garments