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PM Modi on INDIA US PARTNERSHIP
Sunday, January 25, 2015
trends silver gold
Speculators Flock to Silver
Silver headed for a bull market in its best start to a year in more than three decades as the European Central Bank expanded economic stimulus measures, boosting demand for the metal as a store of value.
Holdings in exchange-traded products backed by the metal have posted three straight weekly gains, while U.S. government data show money managers raised their net-bullish wagers to the highest since August. An ounce of gold bought as much as 71.5 ounces of silver on Thursday, compared with an average of 58 in the past decade, signaling the white metal is inexpensive relative to gold.
The euro weakened to an 11-year low against the dollar as the ECB expanded its bond-buying program, boosting demand for precious metals as alternatives to currencies that are being revalued. A collapse in oil prices has boosted the appeal of gold amid the threat of deflation, and the price on Wednesday topped $1,300 an ounce for the first time since August.
“Silver is enjoying safe-have bids along with gold, and there is also a lot of physical buying” Frank McGhee, the head dealer at Alliance Financial LLC in Chicago, said in a telephone interview. “There is a flight to safety because of all the concerns about the economy.”
via Bloomberg
Tuesday, January 20, 2015
gold price physical india
20-Jan 17hours
Mum:28140/39700
Del:28190/39650
Chn:28140/39050
Bng:28110/39200
Matura:28360/39650
Mysor:28000
Rs:61.75
G:1291.6/28037
S:17.87/39525
Mum:28140/39700
Del:28190/39650
Chn:28140/39050
Bng:28110/39200
Matura:28360/39650
Mysor:28000
Rs:61.75
G:1291.6/28037
S:17.87/39525
Thursday, January 15, 2015
gold rises
The Reserve Bank of India Thursday surprised the market by cutting repo rate by 25 basis points to 7.75 percent from 8 percent, with immediate effect, head of its policy review on February 3
“Households’ inflation expectations have adapted, and both near-term and longer-term inflation expectations have eased to single digits for the first time since September 2009. Inflation outcomes have fallen significantly below the 8 per cent targeted by January 2015. On current policy settings, inflation is likely to be below 6 per cent by January 2016,” the RBI said in arelease on its decision to cut the benchmark rate.
In early trade, gold opened with a decline to hit $1224 in the international market translating thereby the lower level of Rs 26700 per 10 grams in spot domestic trade. But, following the Reserve Bank of India (RBI)'s surprise move to cut repo rate by 25 basis points to 7.75%, the rupee ended with a marginal appreciation of 0.07 to 62.07 against the dollar. After opening at 61.89, the Indian currency slipped to 62.14 but appreciated again to touch the high of 61.48 during Thu
rsday trade.
"No doubt currency market's turbulence had supported the gold prices well in last few weeks and helped the metal prices to hold above Rs 27,000 mark. Fundamentals, however, continued to remain negative as investors remained bullish towards dollar. Gold may see a price testing close to Rs 27500-27800 per 10 grams range in short term while medium term outlook still remain weak to re-test Rs 25000 - 25500 range," said Ajay Kedia, managing director, Kedia Commodity.
“Households’ inflation expectations have adapted, and both near-term and longer-term inflation expectations have eased to single digits for the first time since September 2009. Inflation outcomes have fallen significantly below the 8 per cent targeted by January 2015. On current policy settings, inflation is likely to be below 6 per cent by January 2016,” the RBI said in arelease on its decision to cut the benchmark rate.
In early trade, gold opened with a decline to hit $1224 in the international market translating thereby the lower level of Rs 26700 per 10 grams in spot domestic trade. But, following the Reserve Bank of India (RBI)'s surprise move to cut repo rate by 25 basis points to 7.75%, the rupee ended with a marginal appreciation of 0.07 to 62.07 against the dollar. After opening at 61.89, the Indian currency slipped to 62.14 but appreciated again to touch the high of 61.48 during Thu
rsday trade.
"No doubt currency market's turbulence had supported the gold prices well in last few weeks and helped the metal prices to hold above Rs 27,000 mark. Fundamentals, however, continued to remain negative as investors remained bullish towards dollar. Gold may see a price testing close to Rs 27500-27800 per 10 grams range in short term while medium term outlook still remain weak to re-test Rs 25000 - 25500 range," said Ajay Kedia, managing director, Kedia Commodity.
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