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Gold has managed to hold above $1,450 since there is some bargain hunting. This is a good entry level for the ones who missed out previously, Reduced expectations of further interest rate cuts by the Fed has weighed on spot gold prices.
Investors are closely watching U.S. data for signs on the health of the world’s largest economy, which could influence the U.S. Federal Reserve in its decision on further monetary easing.
Gold price on Thursday rose Rs 147 to Rs 37,672 per 10 gram in the futures trade as speculators widened their bets on spot demand, tracking a firm trend overseas Multi Commodity Exchange Gold contracts for December delivery traded higher by Rs 147,0.39%
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Gold demand remained subdued in China this week against a backdrop of slowing economic growth, and in Hong Kong where protests continued, while prices in India flipped into discount as demand eased.
In Hong Kong, gold premiums remained unchanged at 30 cents to 50 cents an ounce range over benchmark prices, as people awaited district council elections on Sunday after months of unrest by pro-democracy protesters, which caused gold demand to weaken in the region.
Gold prices on Thursday fell Rs 47 to Rs 38,108 per 10 gram in futures trade as participants cut down their bets amid a weak global trend.
On the Multi Commodity Exchange, gold prices for delivery in December fell by Rs 47, or 0.12 per cent, to Rs 38,108 per 10 gram in a business turnover of 1,876 lots.
Gold is something that many Indians buy during festivals such as Akshaya Tritiya, Dhanteras . Other than jewellery, we buy physical gold in the form of bars and coins. Many prefer to buy gold coins over jewellery as the former can be bought in denominations low as 0.5 grams. When you are planning on selling gold coins here are 7 things that you must keep in mind.
1. Purity of gold coins
2. Hallmarking
3. Denominations
4. Packaging
5. Wastage charges
6. Options to Sell from
7. Ease of selling
To get the maximum output Check the above points before you sell and make a calculation based on that day price , then proceed to a reputed gold buyer . do keep in mind that , usually it is seen that gold coins or jewellery brought from one jeweller (let us say A) is sold to another jeweller (let’s say B) will fetch you a lower resale amount. “This is because jeweller B pays you only for the gold and not for making charges, wastage ,administrative fees, and profit margins that you have paid while buying from jeweller A,” also note that banks will not buy back those coins as per a Reserve Bank of India (RBI) directive.
Gold edges lower as improved risk sentiment dents safe-haven demand,gold extended its losses on Friday, following its biggest one-day per centage loss in a month in the previous session on a firmer dollar and as a strong US data, corporate results boosted investor appetite for riskier assets.