Gold Silver Reports (GSR) – Wondering where gold prices are headed to? In the past many weeks, gold prices have been stuck in a narrow range. In the international market, gold prices have been in the range of $1,290 to $1,350 per ounce since April. Domestic gold prices have also displayed a similar trend. Gold prices in Delhi have been around Rs. 32,000 per 10 grams (24 carat) during this period. Are gold prices expected to break the current trend anytime soon? NDTV here brings to you what experts think about the current trend in gold prices.
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Gold Prices Rise by ₹150 Today
Gold Silver Reports (GSR) – Gold prices rose by ₹ 150 to ₹ 31,950 per 10 grams on Wednesday amid fresh demand from local jewellers despite weakness in global gold prices, reported PTI. Moreover, a depreciating rupee against the US dollar, which makes gold imports costlier, supported domestic gold prices. Silver prices, however, edged down by ₹ 10 to ₹ 41,550 on selling pressure, added the report. Global gold prices fell to a one-week low in the previous session, as investors waited for clues on the pace of future interest rate hikes by the US Federal Reserve when its policy meeting concludes later in the day.
Bad Tariffs Means Good for Gold
Gold Silver Reports (GSR) – Bad Tariffs Means Good for Gold — The US government could slap steep tariffs on imported automobiles – and possibly even ban German luxury vehicles outright, according to a report by German business news magazine WirtschaftsWoche.
Gold Slip Below ₹ 32000, Muted Demand
Gold Silver Reports (GSR) – Gold prices dipped below the ₹ 32,000-mark, falling Rs 100 to ₹ 31,950 per ten grams at the bullion market today amid a weak trend overseas and fall in demand from local jewellers.
Gold Price Target Till Diwali 32500—33500 Level on Weak Rupee
Gold Silver Reports (GSR) – Gold prices are likely to hold in the range of ₹ 32,500—33,500 per ten grams until Diwali Target in the domestic market, and internationally the Gold might be in USD $1,180—$1,410 an ounce level.
Silver Forecast By German-Based Research Firm
Gold Silver Reports (GSR) – Silver Forecast By German-Based Research Firm — Silver is likely to reach $18.50 an ounce in third quarter of 2018, and maybe even hit 2016 highs of $21.50 an ounce by the four quarter, based on a combination of technical, sentiment, seasonal, and fundamental factors.
Trade Wars Need To Escalate To Support Gold
Gold Silver Reports (GSR) – Trade Wars Need To Escalate To Support Gold — While gold could get a boost from volatile currency markets next week, analysts are not expecting to see the market benefit from safe-haven flows.