Gold Silver Reports (GSR) – Gold prices Today Rebounded – Buying by local jewellers amid festive season demand and steady global prices helped boost domestic gold prices. Besides, weakness in the rupee, which makes imports costlier, also fuelled the upward trend in gold prices.
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Gold Prices Slip Today, Silver Edges Lower
Global spot gold rate was little changed at $1,226.71 an ounce. It touched $1,233.26 on Monday, its highest since July 26. US gold futures were flat at $1,230.40 an ounce. Despite the recent rally in global gold rates, price of the precious metal remains down nearly 10% from its April peak.
Sovereign Gold Bond Scheme opens for Subscription: 10 Things to know – Gold Silver Reports
Sovereign Gold Bond Scheme opens for subscription: 10 things to know
The new series of sovereign gold bonds opened for subscription today. The government has fixed the price at Rs 3,146 per gram for the 2018-19 Series II sovereign gold bond scheme. The scheme will be open till October 19 and the bonds will be issued on October 23. Sovereign gold bonds will be issued every month from October 2018 to February 2019, the RBI had said earlier. The next tranche will be open from November 5-9 and issuance will be on November 13.
Goldman Can’t Rule Out U.S. Naming China a Currency Manipulator
Though China doesn’t meet the three official criteria, the Treasury Department could still accuse the Asian nation if it found that China was manipulating the yuan for trade purposes, Goldman notes. While not the bank’s base case, given that currency matters have played a “central role” in the U.S.-China trade standoff, a formal declaration isn’t unfathomable.
Investors may turn to gold this Diwali as volatility hits equities
Volatility in the stock market may help turn the attention of Indian investors to gold in the upcoming Dussehra and Diwali festive period, said bankers and analysts.
Gold Prices Slip Today, Silver Rates slump – Gold Silver Reports
Gold prices today edged lower, tracking a weak overseas trend and subdued demand from local jewellers. But silver prices recorded a sharp fall amid reduced offtake by industrial units and coin makers. Gold prices fell by Rs 30 to Rs 31,870 per 10 gram while silver rates slumped by Rs 500 to Rs 39,300 per kg, according to a report from Press Trust of India. Sovereign gold, however, remained flat at Rs 24,600 per piece of 8 gram.
So Should You Buy Gold at a Time Like This? – Gold Silver Reports
The price of gold (99.9 percent purity) was around Rs. 31,900/10 gm in the bullion market on October 5. The fear of a full-blown trade war between the US and China in the near future has pushed up the demand for gold, and its prices.