Gold Silver Reports (GSR) —Spot gold fell 0.25 percent to $1,288.45 per ounce by 2:10 p.m. EST. U.S. gold futures settled $2.90 lower to $1,288.40.
Commodity News
Commodity News – Real-time Accurate MCX Commodity Market News and forecast for today. Best commodity market online tips through whatsapp and telegram by Neal Bhai.
Spot Gold $1,300 Resistance level for Gold is Looking Very Vulnerable
“The equities are looking a little heavy up at these levels and yesterday’s speech by Fed Chairman Powell felt like Fed might adopt a dovish stance on rates moving forward, which is lending a lot of support to gold,” Haberkorn added.
Gold Prices Rise as Fed Stance Weakens Dollar – Gold Silver Reports
Gold Silver Reports (GSR) — Spot gold rose 0.6 percent to $1,294.01 per ounce as at 0729 GMT, heading for a fourth straight weekly gain. The yellow metal is up 0.7 percent so far this week.
Govt Fixes Rs 3,214 per gram Price For Next Series of Gold Bonds
“Government of India, in consultation with the Reserve Bank of India, has decided to offer a discount of Rs 50 per gram less than the nominal value to those investors applying online and the payment against the application is made through digital mode,” RBI said in a statement.
Two Big Producers just Called the Bottom on Crude oil: $60 a Barrel
Gold Silver Reports (GSR) – Oman oil minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and partners including Russia and Oman can sustain prices at $60 a barrel.
Crude Oil Prices Dip as Worries over Economic Slowdown Return
Gold Silver Reports (GSR) — Crude Oil prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy.
Financial-Markets, Monetary-Policies, Dollar Levels to Decide Gold Demand: WGC
Since gold is considered a safe haven, during choppy markets, the demand for gold improves, normally. Emerging markets, led by India and China–the biggest consuming markets–make up 70% of consumer demand for the metal.