Blog

How Will $1.9 Trillion Stimulus Package Impact Gold Prices?

Posted by Augmont
  |  
On March 14, 2021

House Democrats passed a $1.9 trillion coronavirus relief bill on Wednesday, sending one of the biggest stimulus plans in U.S. history to President Joe Biden’s desk. US President Joe Biden on Thursday signed the massive USD 1.9 trillion American Rescue Plan which is expected to provide a major boost to the country’s

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How Much More Downside Is Left In Gold Price?

Posted by Augmont
  |  
On March 6, 2021

After a strong run that had lasted about nine months, gold in India is on a slide with its price touching low of Rs 44,000/10gm level. From a high of Rs 58,000 recorded in August, the price is now down 24%. This means gold has technically entered the bear territory.

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Reasons For 20% Fall in Gold and what’s next

Posted by Augmont
  |  
On March 1, 2021

Gold sell off Bullion is down more than 9% in 2021 and 21% from August 2020 highs after posting its best annual gain in a decade. Reasons for 20% fall in Gold Price Fall in gold ETF holdings, rise in US Treasury yield, Import duty cut, lowering of COVID cases

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Death Cross Forming in Gold Amid Rising Bond Yields

Posted by Augmont
  |  
On February 22, 2021

Gold began the year with lofty expectations on the back of a record high and its biggest annual gain in a decade. Instead, the precious metal is off to its worst start in 30 years. Spot prices touched a seven-month low on Friday before erasing losses as the dollar moved

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Government revamps gold monetisation scheme to unlock tonnes of unused gold in India

Posted by Augmont
  |  
On February 15, 2021

Monetisation Scheme The government on 9th February 2021 launched a revamped Gold Monetisation Scheme that seeks to unlock an estimated 25,000 tonnes of idle gold lying at Indian households, involving jewellers, and making all state-run banks participate in it. Following are the key highlights: All Public Sector Banks shall be

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Gold price changing its course after import duty cut

Posted by Augmont
  |  
On February 8, 2021

Gold Prices have reversed in course with the start of February, falling 4% last week. The main headlines of last week were Gold Import Duty cut by Government in Budget 2021. Below is the table showing Indian Import Duty Structure, Indian Gold Imports and Indian Gold Price of last 10

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Import duty cut in budget would plunge the precious metals

Posted by Augmont
  |  
On January 30, 2021

After gaining more than 1% in the previous week, Precious Metals struggled to preserve its bullish momentum and edged lower during the first half of the week. Although the pair staged a rebound on Thursday from the weekly low, it couldn’t close the day in the positive territory. With buyers remaining

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BULLION TRADERS NEED TO WAIT FOR PROLONGED CONSOLIDATION

Posted by Augmont
  |  
On January 23, 2021

Gold traders that were hoping for a boost in gold prices following President Biden's election have been unruly disappointed. Biden's plan to introduce spending of $1.9 trillion, a figure that amounts to 9.1% of US 2020 GDP, appears to have been priced into gold prices and did not deliver a much-needed boost to the

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GOLD INVERTS AS TREASURY YIELDS RETREAT AFTER BIDEN-STIMULUS PLAN

Posted by Augmont
  |  
On January 16, 2021

Bullion has inverted the course as investors tracked bond yields and the different views among Fed officials on when to start pulling back on stimulus. Powell said the time to raise the gold and silver prices is “no time soon,” and policy makers would “let the world know” well in

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BULLION OUTLOOK FOR 2021

Posted by Augmont
  |  
On January 2, 2021

After years of lying dormant, the gold and silver prices finally reacted in a big way in 2020.Traditionally seen as a safe place to store money, gold as well as digital gold began to rise as economic growth slowed in 2019, but the pandemic accelerated the rally and in August

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