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Investing.com — The conviction that gold has found a secure home at above $1,900 is being challenged by lower monthly milestones in the yellow metal’s price. And a fourth weekly loss.

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rupee rebounded from its record closing low and opened 13 paise higher at 83.02 against the US dollar amid a pullback in the American currency. “The depreciation in rupee comes on the back of the recent spike in US dollar and treasury yields amid worries that the US Federal Reserve will keep interest rates elevated for a longer duration. The fall in Chinese yuan led to a slide in domestic currency on concerns over export competitiveness," said Amit Sajeja, Vice President Research - Commodities & Currencies at Motilal Oswal.

retail sales, industrial output and investment growing at a slower-than-expected pace. China also has to contend with a deepening property crisis and concerns about potential spillover from payment woes of shadow banking-linked trust products. Zhongzhi – one of the country’s largest private wealth managers – recently fanned fears about financial contagion after facing a liquidity crisis.

rupee closed at an all-time low versus the dollar Thursday as the likelihood of a prolonged phase of higher US interest rates and deepening concerns over the Chinese economy prompted global investors to reduce exposure to emerging market currencies. The rupee closed at 83.15 per US dollar on Thursday versus 82.95 per dollar at previous close. The previous record closing low for the Indian currency was 83.02 per dollar on October 19, 2022.

low pressure area over the Bay of Bengal on Thursday, the IMD forecast very heavy rainfall at several places of Odisha till August 19, prompting the state government to put the district authorities on alert. The cyclonic circulation over the northwest Bay of Bengal has intensified into a low pressure area and under its influence, an intense cloud band is now moving across coastal Odisha into the interior districts, the IMD said.

stagflation, a combination of economic stagnation with high inflation remains low in India despite a surge in prices, the Reserve Bank of India said in its August bulletin on Thursday. «Stagflation risk remains low for India with a probability of only 3% with easing of financial conditions, stability of the INR/USD exchange rate and steady domestic fuel prices,» a study conducted by the central bank showed. The uptick in June inflation mutated in July with the unprecedented shock to tomato prices spilling over to prices of other vegetables, said the RBI in its State of the Economy article. Earlier, on August 14, rising food prices sent consumer inflation soaring to a 15-month high of 7.44% in July compared with 4.87% in the previous month, breaching the upper tolerance band of RBI’s inflation target of 2-6% for the first time in FY24 and dashing any hopes of an early rate cut. High-frequency food price data for August so far shows prices of cereals and pulses continued to increase this month, according to the bulletin. Tomato prices, on average, registered a further increase, although more recent data indicates some pullback in prices, the RBI added.

Spot gold was up 0.3% at $1,896.70 per ounce by 1144 GMT, trading near its weakest level since March 15 of $1,888.30. U.S. gold futures steadied at $1,927.80.

personal loans have gotten costlier. In such cases, availing loan against your gold can be quite helpful. Whether it's for marriage, your child's education, medical condition, or raising capital for a new business venture, gold loans are seen as the best option.

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.

Investing.com-- Oil prices fell to a two-week low in Asian trade on Thursday, extending recent losses as markets fretted over an economic slowdown in China, while strength in the dollar also weighed amid continued signs of a hawkish Federal Reserve. 

The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices

Federal Opposition leader Peter Dutton will formalise the Coalition’s official position on nuclear power, including possibly overturning the 1998 ban, to take to the 2025 election, saying Labor was putting “party interests ahead of the national interest”.

The latest report from Glassnode Insights, titled “The Week On-Chain," emphasizes that Bitcoin has reached historically low levels of volatility. This has led to a mere 2.9% separation between the asset’s Bollinger Bands, indicating an exceptionally narrow trading range. 

HP Inc. has failed to shunt aside claims in a lawsuit that it disables scanners and other functions on its multifunction printers whenever the ink runs low

By Joice Alves and Samuel Indyk

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rupee closed at its weakest level against the US dollar in almost 10 months as a rise in the greenback globally exerted pressure on Asian currencies, although likely interventions by the Reserve Bank of India reined in the pace of depreciation in the local unit. The rupee closed at 82.95 per US dollar on Monday as against 82.84 per dollar at previous close. Monday's closing marks the weakest level for the rupee versus the US dollar since October 19, 2022, Bloomberg data showed.

Gold prices fell to a more than one-month low on Monday as a stronger dollar and elevated bond yields took the shine off bullion, while investors awaited fresh catalysts to gauge the downside after a mixed bag of U.S. inflation numbers last week. Spot gold was down 0.5% at $1,903.50 per ounce by 09:39 a.m.

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India's wholesale inflation had contracted 4.12% in June, data showed on Monday. On a month-on-month basis, the index stood at 1.95%. The 30-share BSE benchmark Sensex recovered 580 pts from day's low and ended 79 points or 0.12% higher at 65,401.