Gold Silver Reports – Trade tension between the US and China, uncertainty around Brexit and slowdown concerns have prompted investors globally to look for safe investments, one of which has traditionally been gold prices.
Gold eased on Thursday as the dollar gained versus the euro after the European Central Bank postponed an interest rate hike, wiping out gains for bullion driven by the darkening global economic outlook.
Gold prices edged lower by Rs. 20 to Rs. 33,430 per 10 grams on Wednesday, reported news agency Press Trust of India (PTI) quoting the All India Sarafa Association. That marked the fifth straight session of losses.
Gold Silver Reports (GSR) – Spot gold had gained 0.1 percent to $1,322.41 per ounce as of 0747 GMT. The metal touched $1,325.30 earlier, just below a 9-month peak of $1,326.30 an ounce marked on Jan. 31.
Gold Silver Reports (GSR) – Crude Oil prices rose to their highest levels since November last year on Monday, lifted by OPEC-led supply cuts and U.S. sanctions on Iran and Venezuela.
Gold Silver Reports (GSR) – European and Asian stock markets were mostly weaker overnight. U.S. stock indexes are pointed toward lower openings when the New York day session begins. There is some risk aversion in the marketplace to start the trading week, which is also benefitting the safe-haven gold and silver markets.