GOLD RESERVES
India's forex reserves rise by $816 million to $653.7 bn as on June 21
India's forex reserves increased by $816 million to $653.7 billion as of June 21, compared to a previous contraction of $2.92 billion to $652.9 billion. Foreign currency assets decreased by $106 million to $574.1 billion. Gold reserves rose by $988 million to $56.95 billion, while SDRs fell by $57 million to $18.04 billion.
Gold Price Today: Gold opens at Rs 71,446/10 gms, silver drops by Rs 4,400/kg in June
On Friday, Gold August futures contracts at MCX started trading at Rs 71,446 per 10 grams, marking a decline of Rs 126 or 0.18%. Meanwhile, MCX Silver July futures opened at Rs 87,180/kg, reflecting a drop of Rs 4,400 since the beginning of June. The previous day, both gold and silver prices had closed higher in both international and domestic markets.
Gold prices heads for quarterly rise; spotlight on inflation data
In the world of gold investment, tracking prices, inflation data, and the Federal Reserve's stance is key. Market dynamics shift based on factors like GDP estimates, equipment spending, and spot silver prices. Understanding these nuances is crucial for making informed investment decisions in a constantly evolving economic environment.
Gold prices hover near two-week low on firm dollar, yields
Gold prices reflect global economic uncertainties amidst discussions on interest rates by central banks, impacting market sentiments. The interplay between various economic indicators and policy decisions continues to shape the trajectory of gold as an investment choice.
Gold flat as dollar, yields firm; investors seek more US data
Amid economic indicators and central bank actions, market focus extends to U.S. housing data, French employment stats, and Fed rate cut forecasts, influencing gold price dynamics.
Gold prices inch lower as focus turns to US inflation data
Gold prices impacted by Japan Chain Store Sales YY for May and upcoming US Consumer Confidence in June.
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RBI’s overseas gold holding touches a six-year low
News that the RBI had brought back 100 tonnes of gold from the UK to India emerged at the end of last month. Governor Shaktikanta Das said this was because there is enough domestic storage capacity and nothing more should be read into it. At the end of March, the RBI’s total gold holdings amounted to 822.1 tons.
Gold prices edge higher as US Treasury yields soften
Gold prices rose on Monday as Treasury yields fell, with investors awaiting economic data and comments from Federal Reserve officials for clarity on interest rate cuts.
Thanks a bullion, RBI will take it from here; overseas gold reserves at 6-yr low
The Reserve Bank of India's gold reserves parked overseas have dropped to a six-year low, with 47% of total at the end of March. The RBI started bringing gold to India in March 2022, coinciding with the Russia-Ukraine war. This follows a global trend of central banks becoming cautious after the US government froze Russian foreign currency assets.
US PMI data triggers sharp decline in gold prices
Gold prices surged to a two-week high of $2,366 following a second rate cut by the Swiss National Bank and weaker US data. Traders anticipate a move by the US Federal Reserve, especially after the European Central Bank's rate cut.
Fundamentals suggest silver prices have room for further upside
Gold prices surged above ₹90,000 per kg in India and $30 per ounce internationally due to bets on potential interest rate cuts amid signs of a weakening US economy. However, further confirmation of cooling inflation is awaited before any rate cut decision.
India’s forex reserves dip $2.9 bn to come off all-time record high
India's foreign exchange reserves saw a notable decrease of $2.92 billion to reach $652.9 billion as of June 14, according to data from the Reserve Bank of India. This followed a significant increase of $24.3 billion in the previous week, pushing reserves to a record high of $655.8 billion as of June 7.
Gold Price Today: Yellow metal prices rise by Rs 700 this week, silver at Rs 91,420/kg
MCX August futures for gold started the week at Rs 72,693 per 10 grams, marking a gain of Rs 720 (1%). Meanwhile, MCX July futures for silver opened at Rs 91,420/kg, increasing by Rs 2,300 (2.6%) over the week.
Gold Price Today: Yellow metal down by Rs 3,000 in a month, silver down by Rs 5,000
Gold prices for MCX August contracts started Thursday flat at Rs 71,746 per 10 grams, following a decline of Rs 2,950 over the past month. Meanwhile, silver July contracts, which dropped by Rs 5,000 during the same period, opened higher today by Rs 775 or 0.87% at Rs 90,250 per kilogram.
Diversifying Forex Reserves: RBI bought gold sold securities in April
The value of India’s – essentially the Reserve Bank of India’s – US treasury securities dipped $ 7.1 billion in April to take the value of outstanding US treasury securities’ exposure to $233.5 billion, according to the data released by the US treasury department late on Tuesday.
Gold Price Today: Yellow metal opens at Rs 71,657 per 10 grams, silver at Rs 88,856/kg
While trading within a range so far this week, MCX gold August contracts opened lower on Wednesday, down by 0.11% or Rs 82 at Rs 71,657 per 10 grams. Similarly, MCX silver July contracts also saw a decline, down by 0.25% or Rs 224 to Rs 88,856 per kilogram.
Buying gold annually in order to diversify allocation of forex reserves: Shaktikanta Das
I think SEBI is engaged with that. So, let me not intrude into SEBI's territory and start talking about the stock markets. I think SEBI is fully seized of what is happening in the markets and we have our regular interactions with the SEBI as a part of the FSDC, the Financial Stability and Development Council, we have also a subcommittee which is chaired by the governor.
Central banks around the world have positive outlook on gold, according to World Gold Council survey
The WGC survey received responses from a record-high 70 central banks. The survey shows that Central bank sentiment towards gold remains very high, with 29 per cent saying they will add more gold in the next 12 months and 81 per cent saying that official sector gold reserves overall will grow in the same period. Optimism towards gold’s future role in global reserves continues to grow, with 69% saying that gold’s share of reserves will be higher in five years compared to 62% last year, the WGC survey said.
Gold Price Today: Yellow metal opens at Rs 71,650 per 10 grams, Silver at Rs 89,152/kg
Gold and silver prices rebounded from recent lows, supported by bargain hunting at lower levels, amid slightly positive trends in both domestic and international markets. Bullion prices have surged approximately 13% so far this year, reaching record highs.
India's forex reserves rise by $4.3 bn to record high of $655.8 bn as of June 7
India's forex reserves reached a record high of $655.8 billion as of June 7, surpassing the previous high of $4.8 billion. Foreign currency assets (FCAs) increased by $3.77 billion to $576.3 billion. Gold reserves increased by $481 million to $56.98 billion, while SDRs rose by $43 million to $18.16 billion. Reserve in the IMF surged by $10 million to $4.33 billion.
Gold Price Today: Yellow metal opens flat at Rs 71,547/10 grams; silver falls by Rs 6,800 in June so far
As investors awaited the US CPI data scheduled for later in the day, gold prices for August futures contracts on MCX began the day unchanged at Rs 71,547 per 10 grams. In contrast, MCX July silver contracts have experienced a decline of Rs 6,800 since the beginning of June, opening today at Rs 89,317 per kg.
Gold Price Today: Yellow metal prices fall by Rs 3,400/10 grams in 20 days; silver drops Rs 6,000/kg
Gold prices on MCX fell by Rs 3,400 in 20 days, opening at Rs 71,012 per 10 grams. Silver contracts on MCX also dropped sharply. The decline was triggered by a strong US jobs report impacting the USD and Federal Reserve decisions.
ET Explains: Why RBI keeps gold abroad?
The Reserve Bank of India (RBI) has been aggressively buying gold this year, purchasing one and a half times the amount bought in the whole of 2023 in just the first four months of this calendar year. A big portion of this gold is held overseas, but the RBI is now planning to bring back a portion of these reserves. This move comes amid risks following the West freezing Russian assets. The RBI holds 822.10 metric tonnes of gold, with 387.26 metric tonnes kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
India’s forex reserves down $2 bn to come off all-time record high
India's forex reserves fell by $2 billion to $646.67 billion as of May 24, according to the Reserve Bank of India (RBI). This decline follows a previous increase of $4.54 billion, reaching an all-time high of $648.7 billion on May 17. The reduction includes a $1.51 billion decrease in foreign currency assets, a $482 million drop in gold reserves, a $33 million dip in SDRs, and a $1 million decline in IMF reserves.
RBI moves 1 lakh kg of gold from UK back to India, first such move of this quantum since 1991
India's central bank has moved around 100 tonnes of gold from the UK to its domestic vaults, with plans to relocate more soon, according to a TOI report. This significant transfer, the first since 1991, addresses logistical and storage diversity concerns. The RBI, which held 822.1 tonnes of gold as of March, coordinated closely with various government bodies and used special aircraft for secure transport
India's forex reserves rise for second straight week, up by $2.56 bn
India’s foreign exchange reserves increased by $2.56 billion to $644.15 billion as of May 10, 2024, according to the Reserve Bank of India (RBI). The previous week, reserves rose by $3.66 billion to $641.59 billion. The RBI's Weekly Statistical Supplement indicated that foreign currency assets (FCAs) grew by $1.49 billion to $565.65 billion.
India's forex reserves up by $3.66 bn to $641.59 bn as of May 03 after 3 weeks slump
India's forex reserves increased by $3.66 billion to $641.59 billion as of May 3, up from a previous contraction of $2.41 billion. Foreign currency assets (FCAs) also surged by $4.45 billion to $564.16 billion. Gold reserves dropped by $653 million to $54.88 billion, while SDRs increased by $2 million to $18.05 billion. Reserve position in the IMF decreased by $140 million to $4.499 billion.
India's forex reserves decline by $2.41 bn to $637.92 bn as of April 26
India's foreign exchange reserves saw a decline of $2.41 billion to $637.92 billion as of April 26, according to the latest data from the Reserve Bank of India (RBI). This follows a previous decrease of $2.83 billion to $640.33 billion for the week ending on April 19, 2024. The RBI's Weekly Statistical Supplement revealed that Foreign Currency Assets (FCAs) dropped by $1.16 billion to $559.7 billion, while Gold reserves decreased by $1.28 billion to $55.53 billion.
India's forex reserves down by $2.8 bn to $640.33 bn as of April 19
India's forex reserves dropped by $2.83 billion to $640.33 billion as of April 19, as per the latest Reserve Bank of India data. This decline follows a previous decrease of $5.4 billion to $643.16 billion reported for the week ended April 12, 2024. Foreign currency assets (FCAs) shrank by $3.79 billion to $560.86 billion, while gold reserves increased by $1.01 billion to $56.81 billion.
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