2016 September

Gold / Silver futures – Weekly Outlook: September 26 – 30

Gold prices edged lower on Friday, but notched the strongest weekly advance in almost two months after the Federal Reserve held off on raising interest rates and scaled back the number of rate hikes it expects next year. The precious metal is sensitive to moves in U.S. rates, which lift

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Gold bond issue date shifted to Sep 30.

The amount realised through the fifth tranche of the SGB scheme is expected to cross Rs 820 cr     With over 200,000 applications for the Sovereign GoldBond (SGB), the Reserve Bank of India (RBI) on Thursday shifted the issue date by a week to September 30 for “smooth” uploading of

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MCX gold at crucial base zone

  Last week, the gold futures contract traded on the Multi Commodity Exchange (MCX) fell 1.3 per cent, decisively breaching its 21- and 50-day moving averages and closed at `30,813 per 10 gm. The contact also closed below the key support at `31,000. But it advanced `122 or 0.4 per cent to trade

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Gold / Silver Futures – weekly outlook : September 19 – 23

Gold prices slumped to a more than two-week low on Friday, as a broadly stronger U.S. dollar and jitters ahead of next week's highly anticipated Federal Reserve policy meeting weighed. Gold for December delivery on the Comex division of the New York Mercantile Exchange sank to a daily low of

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Gold demand remains muted; discounts narrow

  Demand for gold in India remained lacklustre this week as higher prices hampered consumer purchases, but discounts narrowed due to a correction in overseas rates. The safe-haven bullion has fallen over one per cent this week despite a mixed bag of US economic data ahead of next week’s US

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Gold key to lower GST rate

  The Centre is set to propose that the rate of tax on gold consumption be doubled under the Goods & Services Tax (GST) regime so as to allow the GST council the elbow room to set a lower standard GST rate. Necessary cushion The government’s main argument in the

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Precious metals resume rally in Sept after Br-exit lag

Gold prices are up 25 per cent and silver, 40 per cent this year After a brief consolidation in August, precious metals have resumed their movement northwards. After the Brexit, bullion is once again following the US rate hike speculations in the market. This time, the speculations are favourable for

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Africa’s Fastest Growing Gold Producer Says More to Come

Burkina Faso said it has more gold waiting to be discovered as the nation where output jumped more than 20 times in a decade reviews its geological records. The government wants to help companies that are already operating in the West African nation to lengthen the lives of their mines

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Gold Slips to 10-week Low as Seasonally Strong Period is About to Kickoff.

Gold slipped to a new 10-week low in early New York trading. Today’s batch of U.S. economic data was mixed, but with perhaps a modest positive bias, which buoyed rate hike expectations and the dollar. The ADP employment survey for August came in slightly better than expected, fostering optimism that

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Gold panned despite stellar performance.

Despite gold’s stellar performance so far this year, The Financial Times chose to headline a front page article “Gold loses shine as Fed decision looms.”  In the Commodities Section, a second piece was titled “Gold heads for monthly drop after investors turn anxious over rate rise and weaker demand.” Regardless

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