RESERVE PRICE
Gold Price Today: Yellow metal prices gain over Rs 900, silver rises over Rs 2,000
Following dovish Fed comments, gold and silver prices surged, with gold opening at Rs 72,460 per 10 grams and silver at Rs 91,904/kg. Market anticipates potential rate cuts. Dollar index decline supports bullion markets. Expect volatility ahead of US job reports. Expert forecasts range-bound movement due to US holiday.
Gold inches up after weak data fuels US rate cut bets
Dramatic gold price surge expected amid cautious Fed approach and weaker employment reports, signaling potential economic challenges ahead.
Oil prices slip after data points to cooling U.S. economy
Amidst economic fluctuations, rate cuts could enhance demand, endorsed by ANZ Research analysts, impacting the global oil market.
Telcos' tariff hikes to push up core inflation by 0.2 pc in FY25: Report
The recent tariff hikes by the top three telcos in the country are expected to raise core inflation by 0.20 per cent in FY25, with analysts at Deutsche Bank revising their core inflation forecast to 3.8 per cent. The impact of the hikes is anticipated to be felt from July onwards, potentially pushing month-on-month core inflation by over 0.85 per cent. The Reserve Bank of India is closely monitoring the inflation trajectory, especially considering factors like below-trend monsoon rains and fluctuating food prices.
Britannia appoints ex-RBI Guv Urjit Patel as independent director
Britannia has appointed former Reserve Bank of India Governor Dr. Urjit Patel and Atul's MD Sunil Siddharth Lalbhai as Additional Non-Executive Independent Directors for five consecutive years, effective from July 2, 2024, to July 1, 2029. Patel served as the 24th Governor of RBI and was Deputy Governor from 2013 to 2018.
Gold flat as investors focus on Fed minutes
Gold prices await Fed's rate decision influenced by inflation data, NFP report. China's services slow, impacting metals. Bullion prices steady amid election uncertainty. Analyst Tim Waterer forecasts rate cuts using CME FedWatch Tool.
Gold flat at Rs 72,350 per 10g, silver rises by Rs 200
Gold and silver prices remained stable at Rs 72,350 per 10 grams and Rs 90,300 per kg respectively. In Delhi markets, spot gold prices stayed unchanged.
Commodity Talk: Silver down by Rs 5,000/kg in June. Is it setback to Rs 1 lakh target in 2024?
We do see further corrective moves of upto 2 – 3 % in prices in case US macro cues support the dollar further in near term. However silver is still expected to witness new all time highs this year driven by concerns of 2 rate cuts to persist driving investment demand in white metal.
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.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
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 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.
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.
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.
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.
Bitcoin falls below $66,000 level ahead of Federal Reserve officials’ speeches
Vikram Subburaj, CEO of Giottus, noted that Bitcoin has fallen below $66,000, erasing its weekly gains. BTC’s price action suggests a further decline in the short term, with critical support at $63,000. If this trend persists, altcoins will continue to suffer against Bitcoin.
Oil prices extend rally on potential U.S. crude purchase for reserve
Oil prices rose on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, supported by expectations of rising fuel demand this summer. Market focus is on the Fed's policy meeting and upcoming reports from OPEC and the International Energy Agency. Analysts expect Brent to rise to $86 a barrel in the third quarter.
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