Gold Prices Touch New Record High On Strong Overseas Trend: 10 Things To Know
- "Gold price of Rs 37,920 per 10 grams is the highest in the domestic market till date," Press Trust of India quoted Surendra Jain, vice-president, All India Sarafa Association, as saying.
- Gold prices have been surging for the last few days and had hit Rs 36,970 per 10 grams on Monday. The prices had fallen by Rs. 163 on Tuesday.
- In Delhi, gold of 99.9 per cent purity surged by Rs 1,113 to Rs 37,920, while that of 99.5 per cent climbed Rs 1,115 to Rs 37,750 per 10 grams.
- Sovereign gold also rose by Rs 200 to Rs 27,800 per eight grams.
- "Gold prices witnessed safe haven buying due to global economic uncertainty on trade war escalation and weak investment sentiment, Press Trust of India quoted Tapan Patel, senior analyst (Commodities), HDFC Securities as saying. The trade war intensified with US labelling China as 'currency manipulator', while China ordered to suspend all agriculture import from US, added Mr Patel.
- Globally, gold prices jumped 1 per cent on Wednesday to their highest in more than six years, as the trade war between China and the United States showed no signs of abating, spurring investors to seek refuge in safe-haven assets, reported news agency Reuters.
- Spot gold was up 1.1 per cent at $1,490.57 per ounce in intraday trade, its highest since April 2013. US gold futures climbed 1.2 per cent to $1,501.50 an ounce.
- Silver ready rose by Rs 650 to 43,670 per kg, while weekly-based delivery gained by Rs 694 to Rs 42,985 per kg.
- Silver coins also traded higher by Rs 1,000 at Rs 86,000 for buying and Rs 87,000 for selling of 100 pieces.
- India is the world's second-biggest consumer of gold. Last month, the government raised import duties on gold and other precious metals to 12.5 per cent from 10 per cent. Â
-
Signature Play: The Classic Cocktail Is Dead. Or Is It?
Classic cocktails are disappearing from India's cocktail menus. But they're still being ordered, taught to bartenders and borrowed from. So, who's really having the last drink?
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
