Gold Rate in Chennai (7th June 2020) Gold Rates in Chennai are witnessing a steady trend since the start of the year. Demand for gold in Chennai has been on the rise, with most of the demand coming for jewellery and less in gold biscuits and gold coins. David
Gold continues to trade lower as U.S. Labor Department releases May jobs report This week the two important jobs reports were released. Both reports had a profound and bullish impact on U.S. equities, and had the exact opposite effect on the safe haven asset gold, taking prices dramatically lower. On Wednesday ADP released their report which indicated that private sector employment decreased by 2,760,000 individuals in the month of May. While that number might be considered high when compared to…
Gold and silver rates today tumbles in Bangalore, Hyderabad, Kerala, Vizag Gold HIGHLIGHTS Gold and Silver rates in India fell today following the sharp losses of the previous session. Gold and silver rates today 05 June 2020: Gold and Silver rates in India fell today following the sharp losses of the previous session. On MCX, August gold futures fell 0.18% to Rs. 47,510 per 10 gram after tumbling in the previous session. Tracking gold, silver rates also edged lower. On…
PRECIOUS-Gold slips 2% as recovery hopes bolster risk appetite * Gold hits lowest level since May 7 * Private payrolls drop by 2.76 mln in May vs 9 mln forecast Gold fell more than 2% on Wednesday as risk sentiment improved on hopes of a faster recovery from a coronavirus-driven economic slump, with investors largely overlooking civil unrest in the United States. Spot gold fell 1.6 % to $1,699.37 per ounce by 1:05 p.m. EDT (1705 GMT), having earlier hit…
Gold continues to be range bound after hitting the upper resistance trend line Gold hit resistance and traded lower on the day. Gold futures basis the most active August contract opened at $1750.30, and then traded to an intraday high of $1757. This became the point when sellers entered the market and took prices dramatically lower. After trading to a low intraday of $1728, gold prices recovered. As of 5:00 PM EST gold futures are currently down $16.20 (- 0.93%)…
'We expect a considerable drop in gold prices', says ABN Amro Gold positioning remains very crowded, according to ABM Amro, which is why the Dutch bank is not recommending re-entering long gold positions at the moment. “We continue to think that positions are too crowded and that prices are too high to recommend re-entering longs,” ABN Amro precious metals analyst Georgette Boele wrote in a report last week. The bank is projecting a major drop in gold prices within the…
Gold investors are going to have some fun as prices run to $5,000 this decade – Incrementum AG Gold is embarking on a broad-based, decade-long bull market, and it’s not a matter of if prices hit all-time highs but when it hits all-time highs, said one of the authors behind the annual In Gold We Trust report. In an interview with Kitco News, Ronald-Peter Stoeferle, fund manager at Incrementum AG, said that a new monetary policy regime of low interest…
Gemini vs Coinbase – which one is better? Gemini vs Coinbase – which one is better? According to a recent report, cryptocurrency searches have almost tripled over the last six months. This is in light of the current COVID-19 pandemic which has brought the world to its knees. People are fully aware that the ongoing crisis is going to adversely affect the economy hence they are looking for a haven to store their wealth. Normally they would turn to gold,…
March ructions deter bullion banks from gold futures photo of three poured gold bullion bars“Big bullion banks including HSBC have pulled back from trading gold futures after disruption in the market that flared up in the coronavirus crisis.” USAGOLD note: An interesting look at what happened back in March when COVID-19 disrupted the flow of bullion in the gold market and affected settlement on the COMEX. Some bullion banks were caught short forcing them to take a major mark to…
The precious metals continue to climb to higher pricing As the last trading day of the month comes to a conclusion, precious metals futures traded moderately to strongly higher on the day. Today’s gains were felt across the metals. However, none of the other metals could keep up with the precious ore and today could be summed up by the lone ranger himself “Hi-Ho silver away!”. SI futures were running like a horse in the Kentucky derby and in addition…