Gold retreated after a nine-day rally that included a record high as positive results from a vaccine study curbed demand for the metal as a haven, spurring investors to cash in recent gains.
gold price per kilo
Gold Consumption Fell 56% From a Year Earlier to 165.6 Tons – GSR
Gold purchases by Indians this year are forecast to tumble to a record low as the coronavirus pandemic hurts the economy and prices surge to all-time highs, according to the World Gold Council.
Gold Prices Hit New Highs in Global Markets – Gold Silver Reports
Gold is off to a strong start this week in Indian markets after posting strong gains in the previous week. On MCX, August gold future prices rose 1.5% or ₹800 to a record high of ₹51,833 per 10 gram, tracking a global rally. Silver prices also rallied today. Silver futures on MCX gained 5.5% or ₹3,400 to ₹64,617 per kg. In the previous week, gold prices had surged 4% while silver had jumped 15%.
India Flips To Discount On Physical Gold Amid Low Demand, Record Price
In India, dealers offered discounts of up to $6 an ounce over official domestic prices in thin trade, versus last week’s $2 premium. Domestic gold futures soared to a record Rs 50,948 ($681.21) per 10 grams on Friday.
Gold Settles at a Nearly 9-year high and Silver Scores Highest Finish since 2014 on Fiscal Stimulus Moves
Gold futures climbed Tuesday to settle at a nearly nine-year high and silver rallied to prices not seen since 2014, with the precious metals lifted by an agreement on a fiscal rescue plan by European leaders and expectations for additional spending by the U.S. government.
Gold is Looking Very Bullish Both in the Short- and Long-Term – GSR
Gold held steady above the key $1,800/oz level on Thursday, as worries over mounting COVID-19 cases offset hopes of a swift global economic recovery.
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Spot Gold Eases As Economic Recovery Hopes Boost Risk Appetite
Spot gold fell 0.2% to $1,806.30 by 0046 GMT, after rising to its highest level since September 2011 at $1,817.71. U.S. gold futures eased 0.1% to $1,818.40 per ounce.