old gold price Archives

Gold falls-2% as investors drive to cash

Gold Falls – 2% on Wednesday as investors dumped precious metals in favour of cash after additional stimulus measures by the United States failed to calm markets hit by mounting fears over the economic downside from the coronavirus.

Spot gold was down 1.9% to $1,499.59 per ounce by 10:59 a.m. EDT (1459 GMT). U.S. gold futures were down 1.6% to $1,501.10.

Gold continues to suffer from risk-off panics in the market, trading back below $1,500 level as S&P futures gave up stimulus driven gains.

Gold falls

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March 19, 2020

GOLD PRICES ROSE 0.3%

Gold prices rose on Wednesday, after surging more than 3 per cent in the previous session.

As the US Federal Reserve cut interest rates to help soften the economic blow from the coronavirus outbreak.

FUNDAMENTALS

Spot gold climbed 0.3 per cent to $1,644.97 an ounce by 0052 GMT.

Having registered its biggest one-day percentage gain since 2016 gold prices in the previous session

G7 finance ministers and central bank governors said on Tuesday :

They would use all appropriate policy tools to achieve strong, sustainable growth and safeguard against risks from the virus, which has fuelled global recession fears.

The World Health Organization warned

Of a global shortage and price gouging for protective equipment to fight the epidemic and asked companies and governments to increase production by 40 per cent as the death toll mounted.

Palladium slipped 0.4 per cent to $2,490.62 per ounce, while platinum was up 0.1 per cent at $875.62.

Silver rose 0.3 per cent to $17.22 an ounce.

Demand for platinum from the auto industry will rise this year for the first time since 2016

But it won’t be enough to offset a decline in investment buying, leaving the global market in surplus again, the World Platinum Investment Council said.

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March 4, 2020

7-year high on profit-taking GOLD PRICES -FALLS

Gold prices fell 1 per cent on Tuesday as investors chose to pocket profits after the metal hit a seven-year high in the previous session, although growing fears over a spike in new coronavirus cases outside of China capped bullion’s losses.

FUNDAMENTALS

Spot gold was down 0.7 per cent to $1,649.49 per ounce by 0132 GMT, having touched a session low of $1,642.89.

ASIA MARKET

ASIAN shares extended losses amid fears the virus was rapidly mutating into a pandemic that could cripple global supply chains and wreak far greater economic damage than first thought.

CORONA VIRUS

The death toll climbed to seven in Italy on Monday and authorities sealed off the worst-affected towns, closed schools and halted the carnival in Venice, where there were two cases, while several Middle East countries were dealing with their first infections.

FINANCIAL MARKET

Financial markets on Monday ratcheted up bets the US Federal Reserve will be pressed to cut interest rates to cushion a feared hit to economic growth from the epidemic.

PROFIT TAKING

Bullion rose to a more than seven-year high of $1,688.66 in the previous session.

US gold futures fell 1.5 per cent to $1,651 an ounce.

The 1 per cent fall of Gold prices was because of margin calls but definitely that has triggered an added wave of profit-taking

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February 25, 2020

Spot Gold slips near seven year high as US-Iran tensions ease

Spot gold fell 0.2 per cent to $1,562.81 per ounce by 0107 GMT. In the previous session, prices hit their highest since April 2013 at $1,582.59. US gold futures fell 0.2 per cent to $1,566.00.Gold prices inched lower on Tuesday, a day after hitting their highest in nearly seven years, with a lack of immediate escalation between the United States and Iran denting bullion‘s safe-haven appeal.

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January 7, 2020

Gold dealers in India offered a discount last week due to plentiful supplies

Gold prices inched lower on Monday as investors moved to riskier assets following the announcement of an interim deal between the United States and China that cooled a 17-month-old trade dispute.

Spot Gold

Spot gold was down 0.1 per cent at $1,473.88 per ounce, as of 0050 GMT. US gold futures were down 0.2 per cent at $1,478.60.

TRADE AGREEMENT
The “phase one” trade agreement was announced on Friday and on Sunday US Trade Representative Robert Lighthizer said US exports to China will nearly double over the next two years although officials are yet to decide a date to sign the agreement.

TARIFFS IN CHINA

The United States suspended some tariffs on Chinese goods that was due to go into effect on Sunday, while China State Council’s customs tariff commission said it had dropped its plan for additional tariffs on some US goods.

ASIAN MARKET

Asian shares rose as investors breathed a sigh of relief after a thaw in tariff war.

US ECONOMY
The US economy is doing well and looks set to stay that way next year, two top Federal Reserve policymakers said on Friday, remarks that suggest they are content to leave interest rates where they are However, data from US showed on Friday retail sales increased less than expected in November as Americans cut back on discretionary spending despite a strong labour market.

BREXIT
In the UK, British Prime Minister Boris Johnson will “get Brexit done” by Jan. 31 and then agree to a new trade deal with the European Union by the end of 2020, cabinet office minister Michael Gove said on Sunday.

COMEX
Speculators slashed their bullish positions in COMEX gold in the week to Dec. 10, data showed.

INDIAN GOLD MARKET
Gold dealers in India offered a discount last week due to plentiful supplies and slack demand during the wedding season, with other regions in Asia expecting improvement in buying ahead of the Christmas and Chinese New Year festivities.

PALLADIU -PLATINUM -SILVER MARKETS
Elsewhere, Palladium rose 0.6 per cent to $1,941.09 an ounce, silver shed 0.1 per cent to $16.92 per ounce, while platinum fell 0.2 per cent to $926.08.

Gold markets India spot gold

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December 16, 2019

SPOT GOLD

GOLD prices fell on Monday as investors turned to riskier assets on signs of economic growth following reports of an expanding Chinese factory sector and as a rising dollar reduced demand.
Spot gold was down 0.5 per cent at $1,456.70 per ounce by 0802 GMT, having earlier touched its highest since Nov. 22. US gold futures fell 0.7 per cent to $1,463.
An unexpected expansion in factory activity during November in China, the world’s second-largest economy and biggest gold user, spurred investors into equity markets

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December 3, 2019

Category: old gold price

Gold falls-2% as investors drive to cash

GOLD PRICES ROSE 0.3%

7-year high on profit-taking GOLD PRICES -FALLS

Spot Gold slips near seven year high as US-Iran tensions ease

Gold dealers in India offered a discount last week due to plentiful supplies

SPOT GOLD

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Who We Are?

✅1st in Chennai Specialized in Buying Gold ✅Exact Old Gold Buying rate Displayed Daily ✅Best Price on Gold, Silver and Platinum ✅Free Valuation ✅100% Price Guarantee ✅Instant Payment – Cash /IMPS/RTGS/G-PAY

We buy all kinds of gold. It doesn’t matter if your gold is broken, scratched, bent or damaged. Examples of gold items we buy include:

Store

Opening Hours

::Terms & Conditions

✅1st in Chennai Specialized in Buying Gold
✅Exact Old Gold Buying rate Displayed Daily
✅Best Price on Gold, Silver and Platinum
✅Free Valuation
✅100% Price Guarantee
✅Instant Payment – Cash /IMPS/RTGS/G-PAY