Gold Silver Reports (GSR) – Buoyed by a pick-up in festive season demand, gold prices today edged closer to six-year high. Gold rates today rose by Rs 70 to Rs 32,620 per 10 grams ahead of the old upcoming Dhanteras and Diwali festivals.
Live Commodity News
Diwali Gold Sales May Be Same as Last Year’s
Gold Silver Reports (GSR) – Gold sales this festival season are expected to be at last year’s level or if not more, as industry executives said demand for light-weight jewellery and safehaven buying would help offset the impact of rising international price and weak rupee. Also, in play would be the base effect, as last year’s sales were hit by GST-related issues, they said.
Gold Rally Will Fade, and Prices Could Drop to Lowest Level in Almost Two years
However, John LaForge of the Wells Fargo Investment Institute believes the rally will trip up investors in a matter of months — if not weeks.
US Crude Tumbles 12% From High as Oil Bulls Retreat
U.S. West Texas Intermediate crude ended this week down 2.2 percent and has now tumbled about 12 percent from its recent high of $86.74 on Oct. 3. Brent crude, the international benchmark for oil prices, fell 2.7 percent this week and is down 10.5 percent from its Oct. 3 high of $86.74.
BASE METALS – Copper Slides as Equity Markets Rout Rattles Investors
Copper fell 1.5 percent on Friday as global stocks headed for their worst week in more than five years, overshadowing worries over the sharp shortage of supply building in the market.
Gold Hits Three-Month Peak as Stocks Slide, Palladium at Record
Gold jumped 1 percent to a more than three-month peak on Tuesday, with investors spurred on by a slide in global equities and rising political and economic uncertainty, including concerns over Italy’s spending plans.
Gold vs FD: How to Choose Auspicious Investment This Diwali
Gold Silver Reports (GSR) – As the biggest Indian fiesta, the festival of lights — Diwali — is round the corner, all the people have been ready with their respective to do lists on the auspicious occasion.