Gold Silver Reports – Gold prices slid Rs30 to Rs30,250 per 10 grams on Friday as equities found more traction with investors seeking higher returns. Leads overseas were negative and demand from local jewellers was hard to come by. But silver prices staged a comeback by jumping Rs600 to Rs40,500 per kg, spurred by industrial units and coin makers.
U.S. Adds 261,000 Jobs as Hurricane Effect Reverses; Pay Stalls
Gold Silver Reports – U.S. employers added the most workers in a year, rebounding from September’s slowdown, as people resumed work after hurricanes Harvey and Irma, Labor Department figures showed Friday. The jobless rate fell to the lowest since 2000 while wages stalled.
Bitcoin Surges Past $7,000 to Extend Record Rally This Year
Gold Silver Reports – Bitcoin climbed past $7,000 for the first time, breaching another milestone less than one month after it tore through the $5,000 mark.
Bank of England Hikes Rates
Gold Silver Reports – Bank of England Hikes Rates – The Bank of England raised interest rates for the first time in more than 10 years on Thursday and said it expected only “very gradual“ further increases over the next three years.
Donald Trump Nominates Fed’s Jerome Powell to Lead US Central Bank
Gold Silver Reports – US President Donald Trump on Thursday tapped Fed governor Jerome Powell to become head of the US central bank, promoting a soft-spoken centrist to replace Janet Yellen when her term expires in February 2018.
Gold Prices stay Flat at Rs30,280, Silver Falls
Gold Silver Reports – Gold prices held steady at Rs30,280 per 10 grams on Thursday, supported by a firm trend overseas, along with fresh buying by local jewellers. However, silver plunged Rs100 to Rs39,900 per kg, hurt by lower offtake by industrial units and coin makers.