Gold Silver Reports ~ Crude prices settled lower on Friday after the U.S oil rig count rose for the first time since December, renewing worries of a supply glut after an output freeze plan helped boost the market to 2016 highs and multi-week gains.
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Gold Slip on Friday for Weekly Gain on Fed Rate Report
Gold Silver Reports ~ Gold Slip on Friday, as the dollar steadied above a five-month low, but the metal remained on track for a weekly gain after the Federal Reserve scaled down rate hike expectations.
Gold Hold Gains From The Previousday
Gold built on gains from the previous day’s surge on Thursday, as investors continued to react to a surprising move from the Federal Reserve to lower its interest rate forecast for the near-term future.
India Jewelers Strike Enters 3rd Week as Tax Stalemate Drags
Gold Silver Reports ~ A jewelers’ strike in India, the world’s biggest gold consumer after China, to oppose a proposed excise tax has extended into its 3rd week as the industry intensified protests by conducting rallies Thursday in the capital, New Delhi, India.
India to Slap 12.5% Countervailing Duty on Imports; Gold Jewellery
Gold Silver Reports ~ India is, apparently, on a spree of imposing import duty on various commodities from steel to other metals and as reports suggest the trend may get extended to gold imports.
Crude Oil MCX Intraday Trading Level 2450-2650
Gold Silver Reports ~ Crude oil on MCX settled up 3.7% at 2548 rallied to the highest levels in this week boosted by a smaller-than-expected weekly climb in U.S. crude stockpiles,
Fed Statement Reports “Weak” Economic Growth
Gold Silver Reports ~ Gold snapped a three-day losing streak after Federal Reserve officials held off from raising borrowing costs and scaled back forecasts for how high interest rates will rise this year.