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Daily Bullion Market Alert

April gold closed sharply higher due to short covering on Friday as it consolidates some of this week's decline. The high-range close sets the stage for a steady to higher opening when Monday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that

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Gold regains Rs.30,000 level on strong global cues

Gold prices staged a strong come-back on the bullion market on Saturday to regain Rs.30,000 per ten gram level on increased offtake by stockists, following a firming global trend. Gold surged by Rs.470 to Rs.30,030 per ten gram, while silver spurted by Rs.800 to Rs.52,400 per kg on industrial units

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MMTC to hold ‘gold festival’ in Vizag for Ugadi

MMTC is holding a five-day gold jewellery exhibition here from April 10 on the occasion of Ugadi (Telugu new year day which falls on April 11), introducing a new range to suit the festival season, according to Ashish Majumdar, Chief General Manager. He said here on Saturday that one could

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Comex gold may fall further

Comex gold futures ended higher on Thursday, on short-covering and rallied over 1.5 per cent on Friday, its biggest one-day gain since November, as disappointing US job data fuelled expectations that the Federal Reserve will continue its bullion-friendly bond purchases. The weak jobs data reduced the chance that the Fed

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Dubai free zone aims for top gold trading hub

The Dubai free zone will become one of the world's top trading hubs for precious metals in two years, driven by the influx of firms and customers from the emerging markets, an official said on Sunday. Some 20 percent of the world's gold trade is flowing now in Dubai, Dr.

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India's love affair with gold

India does not regard gold merely as an investment, it is also the preferred form of hoarding tax-evaded wealth, writes Shreekant Sambrani. I had recently recounted in this space stories of Arjun Biswal and Gemilla Tikku, tribal farmers from Araku valley in Andhra Pradesh.  They faced starvation before the Naandi Foundation

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Gold snaps two-day surge; silver eases

8 Gold severed its two—days surge to drop moderately at the bullion market on Monday amidst selling from stockists and investors and reduced local demand on the back of lower global cues. Silver also eased modestly owing to subdued speculative off—take. Standard gold of 99.5 per cent purity fell by Rs.110

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A New Gold Standard?

Alasdair Macleod The US Republican Party recently announced its intention to set up a "gold commission", to examine the feasibility or not of returning to a gold standard. This raises important questions, cutting across the neoclassical economic consensus, so is bound to be controversial. If the commission is appointed, it

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Understanding Asian Gold Demand

Alasdair Macleod There is growing awareness that gold is accumulating in Asia. Indians have for a long time been the largest buyers of gold and have a tradition of giving gold as gifts at auspicious times. This gold is mostly classified as jewellery in the statistics, and it is assumed

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Gem and jewellery exports seen growing 10% this fiscal

Exports of gems and jewellery are expected to grow 10-12 per cent this financial year on the back of a revival in demand in the US and other major markets. Addressing a seminar on the “Emerging trends in financing of Indian diamond and jewellery sector”, Vipul Shah, Chairman, Gems and

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