Gold Prices Financial News

However the losses were capped on account of slippages in dollar index (DXY) which was hovering around 104.69 against a basket of six top global currencies, down by 0.07%. The MCX October gold futures were trading down by Rs 45 or 0.08% from the Wednesday's closing price at Rs 58,548 per 10 gram on the MCX while the December Silver futures were trading at Rs 71,160 per kg, higher by Rs 259 or 0.61%. On Comex, Gold futures were trading at $1,934 per troy ounce on Thursday, down by $1.10 or 0.06% while Silver futures were at $23.215, higher by $0.187 or 0.800%. The October Gold futures had ended with declines of Rs 31 or 0.05% per 10 gram at Rs 58595 on Wednesday while the December Silver futures closed lower at Rs 71,410, down by Rs 524 per kg or 0.73%. Amit Khare Associate Vice President at Ganganagar Commodity Limited (GCL) Broking sees bullions making bottom on the daily charts and trading near demand zone with momentum indicator RSI indicating the same. His advice to investors is to make fresh buy positions in gold and silver futures near the support level of Rs Rs 58,500-58,300 while recommending profit booking near the resistance level of Rs 58,800-59,000. Gold futures are down 1.32% or by Rs 781 on the month-to-date basis while they have gained 6.50% or by Rs 3,576 on the year-to-date basis, Anuj Gupta, Head Commodity & Currency at HDFC Securities, of HDFC Securities told ETMarkets. As for silver futures, the declines are to the tune of 5.63% or Rs 4,263 in September while the gains this year stand at 2.89% or Rs 2,006, he said. The physical price of gold in top Indian cities like Delhi and Ahmedabad is around Rs 59,700 per 10 gram while Rs 72,500 for silver.Click to know more Intraday Trading Strategy by Anuj

Investing.com-- Gold prices fell on Wednesday, coming under pressure from renewed strength in the dollar and yields as markets hunkered down before a key U.S. inflation reading due later in the day. 

Investing.com-- Gold prices moved little on Tuesday as the dollar arrested recent losses before key U.S. inflation data due later this week, while copper prices held on to recent gains on hopes that the worst had passed for China’s economy. 

The MCX October gold futures were trading up by Rs 35 or 0.06% from the Monday closing price at Rs 58,965 per 10 gram on the MCX while the December Silver futures were trading at Rs 72,160 per kg, higher by Rs 218 or 0.30%. On Comex, Gold futures were trading at $1,946 per troy ounce on Tuesday, down by $1.20 or 0.06% while Silver futures were at $23.445, higher by $0.062 or 0.270%. The October Gold futures had ended with gains of Rs 40 or 0.07% per 10 gram at Rs 58,938 on Monday while the December Silver futures closed lower at Rs 71,940, down by Rs 377 per kg or 0.53%. Expert Anuj Gupta, Head Commodity & Currency, HDFC Securities said that the market was awaiting the US economic data and FOMC decision on interest rates, later this month while adding that profit booking in dollar index from higher levels was also the reason why gold is steady. «For trading gold may trade between $1,910 to $1,930 levels and on the MCX it may trade between Rs 58,500 and Rs 59,300 levels with broadly mixed trend,» he added.. Prithviraj Kothari, MD & CEO of RiddiSiddhi Bullions Limited (RSBL) said that a higher-than-expected monthly reading may encourage hawkish Fed bets and further weigh down on gold.

Investing.com-- Gold prices rose on Monday, taking some relief from a drop in the dollar ahead of key inflation data due this week, while copper prices rose sharply as Chinese inflation data showed some signs of improvement.

On Comex, Gold futures were trading at $1,946.60 per troy ounce on Monday, up by $3.90 or 0.20% while Silver futures were at $23.300, higher by $0.126 or 0.540%. The October Gold futures had ended with losses of Rs 91 or 0.15% per 10 gram at Rs 58,907 on Friday while the December Silver futures closed lower at Rs 71,538, down by Rs 232 per kg or 0.32%. «The gold price will continue to trade in a broader range of $1,905 to $1,935. From a technical perspective, Comex gold has strong support at $1,915.

Gold prices faced downward pressure throughout the week due to encouraging US economic data, with the upcoming focus on the Consumer Price Index (CPI) developments in the coming week. This resulted in gold experiencing its first weekly decline in three weeks.

Investing.com-- Gold prices rose slightly from a 10-day low on Friday, taking some relief as the dollar retreated from a near six-month high, while weak data from Japan and fears of worsening U.S.-China tensions also drove some safe haven demand for the yellow metal.

The MCX October gold futures were trading up by Rs 127 or 0.22% from the Thursday closing price at Rs 59,125 per 10 gram on the MCX while the December Silver futures were trading at Rs 72,038 per kg, higher by Rs 268 or 0.37%. On Comex, Gold futures were trading at $1,950.70 per troy ounce on Friday, up by $8.20 or 0.42% while Silver futures were at $23.390, higher by $0.150 or 0.650%. The October Gold futures had ended with losses of Rs 107 or 0.18% per 10 gram at Rs 58,981 on Thursday while the December Silver futures closed lower at Rs 71,800, down by Rs 672 per kg or 0.93%. «Correction in gold prices this week was on account of strength in the US economy which makes it likely that interest rates will stay high,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies opines. On Technical charts, October Gold futures witnessed the RSI indicator hitting a point where it might start going down, she said. «Right now, gold prices are above two important lines called the 50-day and 100-day EMA, which are like support levels. If they're crossed, it could mean the market is turning bearish.

Why Gold Prices Are Increasing These Days? #gold #...

Comex is closed for trading today on account of US Labour day. Gold futures ended at $1,965.35 per troy ounce on Friday, down by $1 or 0.05% while Silver futures closed at $24.530, lower by $0.003 or 0.010%. The DXY was trading at 104.16 against a basket of six top currencies, though the bias ws negative. The October Gold futures had ended with gains of Rs 36 or 0.06% per 10 gram at Rs 59,410 on Friday while the December Silver futures closed lower at Rs 75099, down by Rs 583 per kg or 0.77%. «Gold's value increased during the week due to optimism about the Federal Reserve ending its tightening cycle as the US jobs report showed controlled cooling in the labor market, with solid hiring, slower earnings growth, and more people returning to work,» Neha Qureshi, Senior Technical & Derivative Analyst, Anand Rathi Commodities & Currencies said. On the daily chart, the October Gold contract is showing a pattern of higher highs and higher lows, which indicates a bullish sentiment while the RSI indicator is forming an upward trendline, suggesting that prices might move higher in the upcoming days, Qureshi said. The momentum indicator MACD has shown a positive crossover which signals bullish trends in the gold prices, this analyst said while putting resistance around Rs 59,600 — Rs 60,000 while support at Rs 59,150 — Rs 58,900 levels. Analyst Amit Khare Associate Vice President at Ganganagar Commodity sees some profit booking in gold with momentum indicator RSI indicating the same. His advice to traders is to book their long positions and they can make fresh short positions in gold and silver near a given resistance level.

gold closed almost flat at $1,940 on Friday as US treasuries fell, despite a weak monthly US job report. The surge in yields on Friday boosted the US dollar index, thus mitigating the impact of a weak job report. However, the yellow metal was up nearly 1.37% for the week as yields were lower in the week ending September 1. The US non-farm payroll report for August was softer than expected.

Investing.com-- Gold prices moved little on Friday, steadying near three-week highs as markets awaited more cues on U.S. monetary policy from nonfarm payrolls data due later in the day, while copper prices rose on positive Chinese factory data.

On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Friday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. The DXY was trading flat at 103.63 against a basket of six top currencies, though the bias was positive. The October Gold futures had ended with declines of Rs 105 or 0.18% per 10 gram at Rs 59,373 while the December Silver futures closed higher at Rs 75,685, down by Rs 595 per kg or 0.78%. «Gold is likely to go up for a second week in a row because US inflation matched expectations, which makes the Federal Reserve less likely to raise interest rates. This led to a drop in Treasury yields, which is good for gold.

yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price at Rs 59,490 per 10 gram on the MCX while the December Silver futures were trading at Rs 76,100 per kg, lower by Rs 180 or 0.24%. On the Comex, Gold futures were trading at $1,972.70 per troy ounce on Thursday, down by $0.30 or 0.02% while Silver futures were trading at $24.985, lower by $0.119 or 0.470%. The DXY was trading flat at 103.03 against a basket of six top currencies, though the bias was negative. The October Gold futures had ended with gains of Rs 200 or 0.34% per 10 gram at Rs 59,466 while the December Silver futures closed higher at Rs 76,222, down by Rs 218 per kg or 0.29%. «Gold's value has stayed high for three weeks because the latest US economic data indicates slower growth. This led traders to reduce their expectations of the Federal Reserve raising interest rates next month.

Investing.com-- Gold prices rose to a near three-week high on Tuesday, tracking some weakness in the dollar and Treasury yields as markets awaited a slew of key U.S. economic readings due later this week.

Investing.com — Gold prices fell slightly on Friday as traders largely favored the dollar ahead of more signals on U.S. monetary policy from the Jackson Hole Symposium, although signs of weakening growth still kept gold above key levels. 

The MCX October gold futures were trading with gains at Rs 58,399 per 10 grams on the MCX, up Rs 109 or 0.19% from Thursday's closing price. Meanwhile, September Silver futures were at Rs 70,400, higher by Rs 382 or 0.55%. Track prices here On the Comex, gold futures were trading at $1,922 per troy ounce on Friday, up $7.30 or 0.38% while silver futures were at $22.8900, lower by $0.175 or 0.770%.

Investing.com-- Gold prices steadied in Asian trade on Thursday, and were nursing three days of losses as hawkish signals from the Federal Reserve boosted the dollar and heralded more pain for the yellow metal.

yellow metal which is now trading in an oversold zone. The DXY was trading at 103.19, albeit with a negative bias. The MCX October gold futures were trading with losses at Rs 58,812 per 10 grams on the MCX in the opening trade, down Rs 162 or 0.27%.

Gold prices declined for the second consecutive week as both the dollar index and US benchmark treasury yields rose. Concerns about the US banking sector's health and weak Chinese economic data led to a haven shift towards the dollar. Moody's Investors Service downgraded several American lenders, signalling potential concerns for a handful of larger firms.