Gold prices

November 18, 2024 5:35 PM

Gold prices dip 9% from peak, experts suggest support at current level

Gold prices showed a modest recovery on Monday, breaking a six-day losing streak. However, both international and domestic gold prices remain around 9% below their recent peaks, driven by global economic conditions and market sentiment. Internationally, gold was trading at USD 2,597 per ounce, slightly up from its recent low of USD 2,537 per ounce but still down from its peak of USD 2,790 per ounce. In India, gold on the Multi Commodity Exchange (MCX) was trading at Rs 74,657 per 10 grams, mark...

October 17, 2024 7:02 PM

Gold prices hit record high of ₹76,899 per 10 grams amid global tensions and rate cut speculation

Gold prices in India surged to an all-time high on Thursday, with the Multi Commodity Exchange (MCX) recording a peak of ₹76,899 per 10 grams, driven by global uncertainties and speculation over potential Federal Reserve rate cuts. Analysts attribute the historic rise to a mix of dovish stances from central banks, falling bond yields, and intensifying geopolitical tensions. Ajay Kedia, Director of Kedia Advisory, explained the driving forces behind the gold rally. "MCX gold reached this unpr...

September 16, 2024 4:31 PM

Gold hits record high in Nepal at Rs 150,000 per tola

Today, the gold price has set a new record in Nepal's domestic market. The cost of the yellow metal continued to rise and reached the highest point so far. According to the Federation of Gold and Silver Dealers' Association, the price of hallmark gold has been fixed at Rs 150 thousand per tola (11.66 grams). The price surged by Rs 300 per tola today as compared to Sunday. Before this, the gold price had reached Rs 149,800 per tola on July 17. However, the price of silver has remained unc...

April 3, 2024 6:56 PM

India’s gems and jewellery sector shines amidst gold price surge

India shines brightly despite facing a whirlwind of events in 2023. With record-high gold prices, fluctuating diamond rates, and global tensions, the industry navigated through choppy waters while maintaining its dominance in exports. The latest India Development Update by the World Bank paints a promising picture, with India emerging as one of the fastest-growing major economies in FY 2022/23, boasting a growth rate of 7.2 per cent. Forecasts suggest continued growth, with a projected expansio...