Gold price: Find all the latest trends and news about the yellow metal

Gold hits its lowest in nearly two weeks on Monday after centrist candidate Emmanuel Macron won the first round of French presidential election, boosting stocks and sparking a sell-off in the safe-haven bullion.
Spot gold was down 0.7 percent at $1,275.46 per ounce by 0342 GMT, after falling to a low of $1,265.90 earlier in the session.

US gold futures were down nearly 1 percent at $1,277.30 an ounce.

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WHAT’S HAPPENING TODAY
The yellow metal was trading 0.94 per cent, or Rs 278, down at Rs 29,140 per 10 gram, while the white metal silver was down 0.69 per cent, or Rs 283, at Rs 41006 per 1 kg. Angel Commodities in a research note said, “We expect gold prices to trade sideways on Monday as uncertainty looms with regards to the two favourable candidates in The French election, the second round result will be declared on May 8. Besides, inflows in the SPDR gold trust will also boost gold prices in the near term. ON the MCX, gold prices are expected to trade lower on Monday following international markets.”

FROM JUNE, ONLY BIS ACCREDITED REFINERS CAN IMPORT RAW GOLD
The government has mandated that only BIS accredited refin ries will be allowed to import done, or raw gold, effective June 1 this year. This could potentially affect 20% of gold supply through dore, estimated at an annual 150-250 tonnes depending on the premium that spot gold trades at to its landed price.
GOLD REFINING PICKS UP
Gold refining activity has picked up in India after a gap of five months since the demonetization in November. MMTCBSE 2.83 %, PAMP, the only London Bullion Market Association-accredited Indian refiner, said it was in response to a decline in smuggled gold, while others said the spike in demand from the upcoming wedding season and Akshaya Tritiya are the cause.
Source:- www.economictimes.indiatimes.com
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