Gold

May 19, 2025 11:39 AM

Rupee strengthens, gold rallies amid global uncertainty

The Indian rupee opened 12 paise stronger at 85.44 against the US dollar on Monday, supported by favorable global cues and market optimism. The rupee had closed at 85.52 per dollar on Friday. At the same time, gold prices surged nearly 1 percent in the morning session on the domestic futures market, driven by a weakening US dollar and renewed concerns over the possible return of Donald Trump-era trade tariffs. On the Multi Commodity Exchange (MCX), the Gold June 5 contract was trading 0.95 per...

April 22, 2025 2:34 PM

Gold hits Rs 1 lakh per 10 grams for the first time

Gold prices soared to an all-time high on Tuesday, with the rate of 24-carat gold touching Rs 1,00,000 per 10 grams for the first time ever. According to the India Bullion and Jewellers Association (IBJA), the price of 24-carat gold surged sharply from Rs 96,670 to Rs 1,00,000 per 10 grams — a steep rise of Rs 3,300 within 24 hours. Other gold categories also witnessed a significant hike. The price of 22-carat gold climbed to Rs 97,600 per 10 grams, 20-carat gold reached Rs 89,000, a...

April 21, 2025 3:33 PM

Gold hits record ₹96,805, may soon cross ₹1 lakh

Gold prices in India hit a new all-time high of ₹96,805 per 10 grams on Monday on the Multi Commodity Exchange (MCX), driven by global trade tensions and a weakening US dollar. By 1:30 PM, the MCX Gold June 5 contract was trading 1.65% higher at ₹96,830 per 10 grams. Spot prices also saw a sharp uptick. According to the India Bullion and Jewellers Association (IBJA), 24-carat gold (999 purity) was priced at ₹9,659 per gram, while 22-carat stood at ₹9,427. Rates for 20-carat and...

April 15, 2025 8:53 AM

Asia shares rise, bonds hold steady on some tariff reprieve

Asia shares edged slightly higher on Tuesday, helped by gains in auto companies after U.S. President Donald Trump suggested he might grant exemptions on auto-related levies already in place. U.S. Treasury bonds steadied having staged a recovery overnight following last week's historic selloff, while the dollar continued to fall out of favour with investors. Trump said on Monday he was considering a modification to the 25% tariffs imposed on foreign auto and auto parts imports from Mexico, Cana...

April 1, 2025 9:01 AM

Global stocks stabilise, gold hits record as Trump prepares to unveil reciprocal tariffs

Asian equities rose on Tuesday following Wall Street's overnight gains, while gold hit an all-time peak and Treasury yields fell as markets awaited details of U.S. President Donald Trump's reciprocal tariffs. The Japanese yen strengthened as traditional haven assets drew demand. Meanwhile, the risk-sensitive Australian dollar was under pressure after a soft reading of local retail sales, ahead of a Reserve Bank of Australia policy decision later in the day. Regional stocks found some respite o...

March 25, 2025 10:33 PM

Centre discontinues Gold Monetisation Scheme; short-term deposits to continue

The government on Tuesday announced the discontinuation of the Medium-Term and Long-Term Government Deposit (MLTGD) components of the Gold Monetisation Scheme (GMS), effective from March 26, 2025. The Ministry of Finance said in a statement that banks may continue offering Short-Term Gold Deposits (1-3 years) under the scheme. About 31,164 kilograms of gold have been mobilised under the GMS as of November 2024. “Based on the examination of the performance of the Gold Monetisation Scheme (GM...

March 13, 2025 3:19 PM

Gold prices hit all-time high, cross Rs 86,875 per 10 grams

Gold prices on Thursday reached a new all-time high amid market uncertainties. On the Multi Commodity Exchange (MCX), 24-carat gold April futures rose by 0.21 per cent to touch Rs 86,875 per 10 grams. The surge in gold prices is mainly driven by global instability. Uncertainty surrounding US President Donald Trump’s tariff policies has led investors to turn to gold as a safe-haven asset. As a result, international gold prices have climbed to $2,945 per ounce on March 13. According to the I...

February 10, 2025 6:31 PM

Gold prices surge to record high of ₹87,210 per 10g amid global economic uncertainty

Gold prices in India surged to an all-time high on Monday, with 10 grams of 24K gold reaching ₹87,210, while 1 gram was priced at ₹8,721. The steady rise in prices reflects increasing investor interest in the precious metal as global economic uncertainty fuels demand for safe-haven assets. Since the beginning of February, gold has been on an upward trajectory. On February 1, 22K gold was priced at ₹7,760 per gram, while 24K gold stood at ₹8,464 per gram. Over the course of ten days, pri...

February 5, 2025 8:47 PM

India’s gold investments surge 60% to Rs 1.5 lakh crore in 2024: report

Gold investments in India surged by 60% in 2024, reaching $18 billion (approximately Rs 1.5 lakh crore), compared to 2023, according to a report on Wednesday. The World Gold Council (WGC) report added that gold investment demand stood at 239 tonnes, marking its highest level since 2013. This was a 29% increase from the 185 tonnes recorded in 2023. Gold investment remained strong in the October-December quarter, with demand reaching 76 tonnes, nearly matching the previous quarter’s performanc...

January 2, 2025 12:27 PM

Loan against gold on the rise; RBI flags concerns over irregular practices in gold lending

The Reserve Bank of India (RBI) has reported a sharp surge in gold loans across the country, reflecting an increasing dependence on gold as collateral to meet financial needs. According to the RBI's report, gold loans saw significant growth in the period ending September 2024 compared to the same period a year earlier. "Gold loans have clocked rapid growth in the period ending September 2024 as compared to a year ago," the RBI said, underscoring the growing popularity of this financial instrume...