• Home
  • Contacts

  • Business
  • Life&Culture
  • Hi-Tech
  • Sci-tech
  • Sports
  • World News
  • Health Care
  • National

Gold Prices In India Hit All-Time High

  • by Patty Hardy
  • in Business
  • — Aug 10, 2019
Share:

Policy easing by central banks around the world amid slowing economic outlook and intensifying trade dispute between USA and China lifted gold's safe haven demand. Weakness in rupee against the USA dollar was another reason behind rise in gold prices.

Meanwhile, U.S. short-term interest rates futures rose on Wednesday, as traders increased bets that the Federal Reserve would cut key borrowing costs three more times by year-end.

Indicative of sentiment, SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, said its holdings rose 0.21% to 836.92 tonnes on Tuesday from 835.16 tonnes on August 5.

As for other precious metals, silver for September delivery was up 5.2 cents, or 0.32 percent to close at 16.445 dollars per ounce.

In global markets, gold futures surged above the important level of $1,500 an ounce on the Comex, rising as much as 1.2% to a six-year high of $1,502.30.

Walmart reveals why employees removed violent video game ads
Another mass shooting followed in Dayton, Ohio on August 4 that left nine people dead and 27 injured. Walmart does not sell assault-style rifles-it stopped doing so after the 2015 Sandy Hook shooting.

WION Gravitas: Kashmir Issue: The reality of Pakistan's 'retaliation'
Indian high commissioner to Pakistan Bisaria had not yet returned to the country, he said. Pakistan on Wednesday announced its decision to downgrade diplomatic ties with India.

Snapdragon 865 listed on Geekbench with a codename 'Kona'
No info has been shared thus far, but the Snapdragon 865 is expected to support LPDDR5X RAM, at least according to rumors. This processor managed to his 4,149 points in the single-core benchmark, and 12,915 points in the multi-core one.

The spot price of gold passed the $1,500 benchmark on August 7-for the first time since 2013-suggesting the industry is seeing a second gold rush.

In January 2019, the United States had the largest gold reserves in the world with 8,133 tons while Russian Federation was in fifth place with 2,066 tons, according to the World Gold Council.

"Looking at the interest rates and general trajectory of yields and uncertainty over the trade war, gold has room to move higher from here", London Capital Group head of research Jasper Lawler told Kitco News.

Analysts said the rise in local demand, coupled with robust global trend, mainly led to the surge in gold prices.

The latest ructions have sent investors rushing to havens, pushing the world's stockpile of negative-yielding bonds to a record, with the market value of the Bloomberg Barclays Global Negative Yielding Debt Index closing at $15.01 trillion Monday. "Gold demand may continue to increase". Mark Mobius said in July prices were poised to top $1,500 as interest rates headed lower, declaring: "I love gold". In Europe, investors are tracking the chances of a no-deal Brexit later this year, while there are tensions in the Middle East between Iran and the U.S.

Share:

IN CASE YOU MISSED IT

  • Messi, Ronaldo nominated for 18-19 UCL award
  • Flight attendant was allegedly intoxicated on flight from Chicago to South Bend
  • Did Samsung Forget About Bixby During The Galaxy Unpacked 2019?
  • YOU MAY ALSO LIKE...

    • Family sues Royal Caribbean over toddler’s deadly fall from window 12/14/2019
    • Boris Johnson arrives at Buckingham Palace to meet the Queen 12/14/2019
    • Food delivery: Germany's Delivery Hero gobbles up S.Korean food app Woowa 12/14/2019
    • €1trn shortfall with Warren's wealth tax plan, claims analysis 12/14/2019
    • Facebook faces possible FTC action in antitrust probe 12/14/2019
    • Elon Musk's Mom Casually Trolled Him About the Cybertruck 12/14/2019
    • Qantas picks Airbus A350-1000 over Boeing jets for world's longest flight 12/14/2019
    • United Kingdom regulator: Amazon's investment in Deliveroo raises & # 39; serious competition concerns & # 39 12/14/2019
    • European Central Bank should be ‘ahead of the curve’ on digital currency, says Lagarde 12/14/2019
    • USA retail sales rise less than expected, casting shadow on growth 12/13/2019

RELATED NEWS

RealmeOS, Three New Realme Quad rear-camera phones coming soon, CEO confirms
The market is now flooded with 48MP camera smartphones, and now soon it's going to be 64MP camera devices. These will be launched in India before Diwali. "Yes, we've been working on 100MP camera flagship phone!"
8/10/2019

Watchdog: Israel pushes ahead with hundreds of settler homes
News agency Reuters reported Israeli military saying that he had been stabbed to death by a Palestinian assailant. The Palestinian militant group Islamic Jihad also praised the killing as "heroic and bold".
8/10/2019

Serena Williams advances to Rogers Cup quarters
She will play the victor between Belinda Bencic and Elina Svitolina, both former Rogers Cup champions, in the quarterfinals. Andreescu, who improved to 23-4 on the season with the win, entered the Rogers Cup ranked No. 27.
8/10/2019

Kyrgyzstan’s ex-president calls for government’s removal after arrest bid fails
MOSCOW-Gunfire was heard outside the residence of the former president of Kyrgyzstan as police moved in to try to arrest him. He urged his supporters to rally Thursday in the capital, Bishkek , to demand Jeenbekov's resignation.
8/10/2019

Malaysia files charges against 17 Goldman Sachs unit directors:The Asahi Shimbun
The credit cards were rolled out this week to select Apple (NASDAQ:AAPL) customers before a bigger launch later in the month. Seventeen current and former directors at subsidiaries of Goldman Sachs Group Inc are facing criminal charges in Malaysia .
8/10/2019

Floods kill at least 22 in southern India, displace thousands
In Kerala, rains continued to wreak havoc for the second day , as the death toll from floods and landslides reached 28 on Friday. The government has sanctioned an immediate assistance of ₹22.5 crore for flood relief, and has requested more central help.
8/10/2019

Shootings Suspect Confessed Immediately, El Paso Police Say
In his affidavit , Garcia said Crusius waived his right to an attorney and gave an interview to police after his arrest. He is being held without bail, and federal prosecutors are considering charging him with a hate crime .
8/10/2019

Make The Most Out Of The Perseid Meteor Shower With These Tips
While this works best in more remote places, anywhere that has a higher elevation will also provide more ideal viewing conditions. The Perseids, known for being bright and fast, are streaking across the sky as we speak, but will peak starting this weekend.
8/10/2019

Virat Kohli calls rain interruptions the worst part of cricket
Gayle will have the chance to atone for his disappointing display in the second match of the three-game series on Sunday. Completely out of character, Chris Gayle was bowled by Kuldeep Yadav for just four after facing 31 deliveries.
8/10/2019

Danny Trejo Hailed a Hero After Rescuing Child From an Overturned Car
The only thing that saved that little kid was his vehicle seat, honest to God". Three people were injured though none of the injuries is life-threatening.
8/10/2019

Rihanna Blast Vice President Joe Biden Over Statement About Poor Kids
As of Monday, according to data from the Gun Violence Archive, there have been 255 mass shootings in 217 days, ' said Biden. Kate Bedingfield, his deputy campaign manager, said he clearly "misspoke and immediately corrected himself".
8/10/2019

India urges Pakistan to review downgrading of diplomatic relations
With a near-total telecoms blackout, there is very little news trickling out of Kashmir, regional leaders said. The insurgency that began in 1989 and India's ensuing crackdown have killed more than 70,000 people.
8/10/2019

Real Madrid go head-to-head with Barcelona for Neymar
Lukaku's agent, Federico Pastorello, played a key role in brokering the agreement that is set to see the striker's two-year stay at Old Trafford come to an end.
8/10/2019

Maryam Nawaz arrested in graft probe
Maryam Nawaz is one of the few opposition figures to openly criticise Prime Minister Imran Khan and Pakistan's powerful military. Maryam was also asked to provide details of remittances/telegraphic transfers sent and received by her from overseas .
8/10/2019

Keerthy Suresh stuns all by bagging National Award
Actor Surekha Sikri also won the award for best supporting actor (female) for her role in the 2018 blockbuster film. Awe won two awards, one for Best Make-up artist for Ranjit, and the other for Best Special Effects.
8/10/2019