Safe-haven appeal? Gold down 3% from ₹1-lakh mark: How to sell physical gold and make profit?
Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Gold is considered a hedge against inflation and geopolitical uncertainty. But higher rates reduce the appeal of bullion as it yields no interest.
Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. Back home, domestic gold futures is now trading three per cent lower from its all-time record high mark of ₹ 1-lakh achieved last month on the multi commodity exchange (MCX).
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Gold prices slipped more than 1% on Friday after a stronger-than-expected U.S. jobs report dampened hopes for imminent Federal Reserve rate cuts this year, while silver soared to its highest level since 2012. Gold is considered a hedge against inflation and geopolitical uncertainty. But higher rates reduce the appeal of bullion as it yields no interest. Spot gold fell 1.1% to $3,316.13 an ounce, as of 02:28 p.m. ET (1828 GMT), but rose 0.8% for the week so far. U.S. gold futures settled 0.8% lower at $3,346.60. Back home, domestic gold futures is now trading three per cent lower from its all-time record high mark of ₹ 1-lakh achieved last month on the multi commodity exchange (MCX).
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