2013 June

As price slides, gold demand soars

Neither finance minister P Chidambaram, nor is the fear of a bad investment deterring people from buying gold. In fact, the sharp dip in prices has only brought more customers tojewellers though some are waiting for gold to slip even more. Dismissing the minister's plea to refrain from buying gold

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Gold at 23-mth low on rupee appreciation, global overnight fall

Gold hit a near 23-month low at Zaveri Bazaar here on Friday due to appreciation in the rupee, coupled with overnight fall in the global markets. Silver breached a near 31-month barrier. Spot gold fell 3.4 per cent or 880 on Friday to close at 25,130 per 10g, the level

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Gold drops to 3-year low on strong U.S. data

Gold hit a near-three year low on Wednesday, falling for a seventh session out of eight, as strong U.S. economic data boosted stocks and supported the Federal Reserve’s plan to scale back its bond purchases in the next few months. Bullion prices have been sliding since Fed Chairman Ben Bernanke

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Market Alert as on 25 June 2013

Market Commentary Ø  August gold closed lower on Monday and is poised to extend this year's decline. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are

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Gold / Silver futures – Weekly outlook: June 24 – 28

Gold and silver futures ended Friday’s session higher, as investors returned to the market to seek cheap valuations after prices fell to the lowest level since September 2010 earlier in the day. Sentiment on the precious metals was dampened amid expectations the Federal Reserve will begin to taper off its

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Gold falls to 1-month low on Fed stimulus outlook

Gold fell for a fourth straight session on Thursday to its lowest in a month after the Federal Reserve said the U.S. economy was recovering strongly enough for the central bank to slow the pace of bond purchases later this year. FUNDAMENTALS · Spot gold fell 0.4 percent to $1,344.9

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No takers for silver despite low prices, demand plunges 40% in a month

KOLKATA: Demand for silver jewellery and coins has dropped by almost 40% in the last one month although prices have fallen to 43,000 per kg from 55,000 per kg in June last year.The metal has also lost its flavour as an investment product and the trade says this bearish trend

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Value of jewellery exports rises as rupee slides

The weakening of the rupee against the dollar is a double-edged weapon for the gold jewellery chains, especially those based in Kerala. On the one hand, the depreciation in the rupee has led to costs of imported gold rising. On the other hand, it has increased the value of the

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Is gold being supplied by western governments?

There has been considerable throughput of gold in western capital markets, with substantial buying from all round the world following the April price crash. The supply can only have come from two sources: The general public, or one or more governments. It really is that simple. Two months later the

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Trade deficit widens to seven-month high in May as gold imports surge

NEW DELHI: India's trade deficit widened to a seven-month high in May as gold imports surged while exports contracted, posing yet another challenge to the country's troubled economy.A near-90% jump in annual gold imports was the chief reason for the trade deficit rising to $20.1 billion, from $16.9 billion in

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