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[ad_1] Last Updated: June 13, 2023, 01:53 IST New York, United States of America (USA) Silver fell 1.3% to $23.95 per ounce, while platinum dipped 1.92% to a two-month low at $989.67. (Reuters File Photo) Spot gold fell 0.4% to $1,953.77 per ounce by 1:40 p.m. EDT (1740 GMT). U.S. gold futures settled 0.4% lower at $1,969.70 Gold prices dipped on Monday as the dollar and bond yields firmed, while traders braced for a busy week of key U.S. inflation prints and major central bank policy meetings, with all eyes on the Federal Reserve. Spot gold fell 0.4% to $1,953.77 per ounce by 1:40 p.m. EDT (1740 GMT). U.S. gold futures settled 0.4% lower at $1,969.70. The dollar index edged up 0.2%, making gold more expensive for overseas buyers, while a rise in U.S. Treasury yields made zero-yielding bullion less attractive. [USD/] [US/] “Going into this week with gold is almost like a coin flip," said Bob Haberkorn, senior market strategist at RJO Futures. The U.S. consumer price index for...

[ad_1] KARACHI: The price of gold has dropped sharply in the domestic market in the wake of stern action against the mafia involved in illegal activities. Since the crackdown on illicit trade, the price of gold has come down by a whopping Rs27,000, reaching Rs188,000 per tola. The local gold pricing body has not been releasing daily prices for more than three weeks now. Bullion rates were last announced on September 12 when gold was priced at Rs215,000 per tola. On Thursday, the price of 10-gram gold stood at Rs160,400, far lower than the rate of Rs184,585 quoted on September 12. In about three weeks, the 10-gram price has decreased by over Rs24,000. In the international market, the bullion became cheaper by $12 per ounce compared to the previous day, standing at $1,814. The local bullion market did not release the official gold rates on Thursday as well. Pricing committee head Haji Haroon Rashid Chand once again announced that the regular release of gold price list would r...

[ad_1] Last Updated: July 12, 2023, 01:05 IST New York, United States of America (USA) Ready to be minted 50g gold ingots are pictured at the plant of refiner and bar manufacturer Argor-Heraeus in Mendrisio, Switzerland, July 13, 2022. (Reuters) Gold prices rise as dollar and bond yields decline ahead of U.S. inflation data. Spot gold set for third consecutive gain, eyes on consumer prices report Gold prices edged higher on Tuesday as the dollar and bond yields fell ahead of U.S. inflation data that could offer more cues on the Federal Reserve’s rate-hike path. Spot gold was up 0.4% at $1,931.83 per ounce by 02:11 p.m. EDT (1811 GMT), set for a third consecutive session of gains. U.S. gold futures rose 0.3% to $1,937.10. Making gold cheaper for holders of other currencies, the dollar index fell 0.3% to its lowest level since May 11. Benchmark 10-year U.S. Treasury yields also slipped. [USD/] [US/] “If we have a soft inflation reading, it will be positive for gold and prices might...

[ad_1] Last Updated: July 13, 2023, 02:03 IST New York, United States of America (USA) Spot gold was up 1.3% at $1,957.39 per ounce by 10:49 a.m. EDT (1449 GMT), while U.S. gold futures rose 1.3% to $1,963.00. (Reuters) Gold prices surge as cooling US inflation sparks hopes of a sooner-than-expected halt to the Federal Reserve's rate hike cycle Gold prices jumped more than 1% on Wednesday after signs of cooling inflation in the United States boosted hopes that the Federal Reserve could hit the brakes on its rate hike cycle sooner than previously thought. Spot gold was up 1.3% at $1,957.39 per ounce by 10:49 a.m. EDT (1449 GMT), while U.S. gold futures rose 1.3% to $1,963.00. U.S. consumer prices rose modestly in June and registered their smallest annual increase in more than two years as inflation continued to subside. In the 12 months through June, the CPI advanced 3.0%, compared with Reuters estimates of 3.1%. “Gold gapped $10 higher on the softer-than-expected CPI print on ...

[ad_1] Last Updated: July 15, 2023, 03:11 IST New York, United States of America (USA) Spot gold fell 0.1% to $1,959.27 per ounce by 01:45 p.m. EDT (1745 GMT), but has gained about 1.8% so far this week. U.S. gold futures settled little changed at $1,964.40. Gold prices ease, poised for biggest weekly gain since April on slowing U.S. inflation and rate hike expectations Gold prices eased on Friday but were on track for their biggest weekly gain since April, after signs of slowing U.S. inflation raised expectations of a pause in Federal Reserve’s interest rate hikes after this month. Spot gold fell 0.1% to $1,959.27 per ounce by 01:45 p.m. EDT (1745 GMT), but has gained about 1.8% so far this week. U.S. gold futures settled little changed at $1,964.40. Bullion hit its highest since June 16 earlier this week after data showed U.S. consumer prices in June registered their smallest annual increase in over two years, prompting bets the Federal Reserve could soon end its rate-hike cycle...

[ad_1] Last Updated: July 06, 2023, 02:16 IST New York, United States of America (USA) Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold was down 0.5% at $1,916.49 per ounce by 02:32 p.m. EDT (1832 GMT). U.S. gold futures settled 0.1% lower at $1,927.10. Gold prices fell on Wednesday, weighed down by an uptick in the dollar and U.S. Treasury yields after minutes from the Federal Reserve’s June policy meeting cemented expectations that rates will stay higher for longer. Spot gold was down 0.5% at $1,916.49 per ounce by 02:32 p.m. EDT (1832 GMT). U.S. gold futures settled 0.1% lower at $1,927.10. “Gold slumps to day’s lows after Fed minutes showed that the ‘pause’ in June was simply the path of least dissent and almost the entire committee expected ultimately higher rates," said Tai Wong, a New York-based independent metals trader. “The upcoming JOLTS report and payrolls data will have much...

[ad_1] Last Updated: July 08, 2023, 01:33 IST New York, United States of America (USA) Gold remains stubbornly bid - trading higher even before the number. Today's report has given bulls some relief, at least short term, said Tai Wong, a New York-based independent metals trader. Gold prices rise as weaker US nonfarm payrolls cast doubt on interest rate hikes, boosting the appeal of the precious metal Gold prices rose on Friday and were on track for their first weekly gain in four as the dollar and bond yields fell after weaker U.S. nonfarm payrolls numbers cast doubts over the trajectory of interest rate hikes beyond July yet again. Spot gold was up 0.8% at $1,926.54 per ounce at 2:06 p.m. EDT (1806 GMT). Bullion was up 0.4% so far this week. U.S. gold futures settled 0.9% higher at $1,932.50. Labour department data showed nonfarm payrolls came in well below expectations last month, but the unemployment rate retreated from a seven-month high amid fairly strong wage gains. Benc...

[ad_1] Last Updated: July 07, 2023, 02:06 IST New York, United States of America (USA) Gold is highly sensitive to rising U.S. interest rates, as they increase the opportunity cost of holding non-yielding bullion. Spot gold was down 0.4% at $1,910.15 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.6% lower at $1,915.40 Gold prices slipped to a near one-week low on Thursday after a better-than-expected U.S. private payrolls report fuelled expectations for more rate hikes from the Federal Reserve, lifting Treasury yields higher. Spot gold was down 0.4% at $1,910.15 per ounce by 2:08 p.m. EDT (1808 GMT), while U.S. gold futures settled 0.6% lower at $1,915.40. U.S. private payrolls increased more than expected in June, indicating strength in the labour market despite growing risks of a recession from higher interest rates. Benchmark U.S. 10-year Treasury yields rose to a more than four-month peak, while yield on two-year U.S. Treasury note hit the highest si...

[ad_1] Last Updated: July 05, 2023, 02:13 IST New York, United States of America (USA) Previous flare-ups also benefited the U.S. dollar, reducing demand for gold. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday Gold prices edged higher on Tuesday as some traders bet that recent weak U.S. economic data may prompt the Federal Reserve to rethink its rate-hike trajectory, while also awaiting further cues from the minutes of the central bank’s last meeting. Spot gold rose 0.4% to $1,928.09 per ounce by 09:31 a.m. EDT (1331 GMT), with trading volumes likely thinned by a U.S. holiday. U.S. gold futures gained 0.3% to $1,935.90. “Weaker-than-expected U.S. economic data released on Monday, including PMIs, have supported gold. Market participants will closely track upcoming U.S. job market data, watching if previous U.S. interest rate hikes will slow down the U.S. economy," UBS analyst Giovanni Staunovo s...

[ad_1] Gold prices continued downward trend in domestic market for second consecutive day on Tuesday as Pakistani rupee made rebound against the US dollar following IMF loan deal. The price of per tola gold plunged by Rs2,200 to close at Rs205,000 while the price of 10 grams of 24 carats gold saw a decline of Rs1,887 to settle at Rs175,754, according to the All-Pakistan Sarafa Gems and Jewellers Association’s (APSGJA) data. In the international market, the price of the precious commodity increased by $19 to settle at $1,929 per ounce. Meanwhile, the price of silver remained unchanged as Rs2,500 per tola and Rs2,143.34 per 10 grams. [ad_2] Source link https://worldnews2023.com/business/gold-price-declines-by-rs2200-per-tola-such-tv/?feed_id=19145&_unique_id=64a45f51ba20b

[ad_1] Last Updated: July 04, 2023, 00:41 IST New York, United States of America (USA) Gold also garnered support from a pullback in the dollar after data showed U.S. manufacturing slumped further in June. (Representative image) Spot gold was up 0.1% at $1,920.49 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold futures settled little changed at $1,929.50 Gold prices edged up on Monday, as the U.S. dollar and Treasury yields retreated on weaker economic readings, casting doubts over whether the Federal Reserve may stick to its hawkish policy outlook. Spot gold was up 0.1% at $1,920.49 per ounce by 1:54 p.m. EDT (1754 GMT), while U.S. gold futures settled little changed at $1,929.50. Bullion lost 2.5% in the April to June quarter. “Gold has probably found a home around 1900," said Edward Moya, senior market analyst at OANDA. “There’s some positioning happening here … the market last week seemed to be slowly pricing in more Fed rate hikes, but data going forward might sugg...