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Hans India
3 days ago
- Business
- Hans India
Gold nosedives Rs 1,000 amid sell-off in global markets
New Delhi: Gold prices plunged Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday in line with a sell-off in global markets, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had settled at Rs 1,02,520 per 10 grams. In the local markets, gold of 99.5 per cent purity dipped Rs 1,000 to Rs 1,01,100 per 10 grams (inclusive of all taxes) on Tuesday. "Gold prices dipped after US President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns," Abans Financial Services CEO Chintan Mehta said. Adding to this, the White House announced on Monday that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta added.
Economic Times
3 days ago
- Business
- Economic Times
Gold plunges Rs 1,000 amid sell-off in global markets
Gold prices plunged Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday in line with a sell-off in global markets, according to the All India Sarafa Association. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gold prices plunged Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday in line with a sell-off in global markets, according to the All India Sarafa Monday, the precious metal of 99.9 per cent purity had settled at Rs 1,02,520 per 10 the local markets, gold of 99.5 per cent purity dipped Rs 1,000 to Rs 1,01,100 per 10 grams (inclusive of all taxes) on Tuesday."Gold prices dipped after US President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns," Abans Financial Services CEO Chintan Mehta to this, the White House announced on Monday that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta Tuesday, the rupee edged higher by 10 paise to 87.65 against the US Dollar in early silver prices slumped by Rs 2,000 to Rs 1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at Rs 1,14,000 per kg on the global front, spot gold was trading at USD 3,347.18 per ounce, up by 0.13 per cent in New Chainani, Head of Research at Augmont, said Trump's announcement on Monday that gold will not be subject to tariffs allayed concerns about a dramatic rise in the price of importing the metal, causing prices to drop below USD 3,400 per silver rose nearly 1 per cent to trade at USD 37.90 per ounce in the overseas markets."Investors will continue to closely watch upcoming US macroeconomic data, such as Consumer Price Index , Producer Price Index and retail sales, which will provide fresh cues on the Federal Reserve's interest rate trajectory," Chainani to commodities market experts, speeches from some US Fed officials will play a key role in driving the near-term US Dollar price dynamics and provide some meaningful impetus for the direction of bullion demand for the safe haven asset took a hit due to speculation that the meeting between Trump and his Russian counterpart Vladimir Putin on Friday could unveil a truce plan for the ongoing Russia-Ukraine conflict, they added.
The Hindu
4 days ago
- Business
- The Hindu
Gold prices plunge ₹1,000 amid sell-off in global markets
Gold prices plunged ₹1,000 to ₹1,01,520 per 10 grams in the national capital on Tuesday (August 12, 2025) in line with a sell-off in global markets, according to the All India Sarafa Association. On Monday (August 11), the precious metal of 99.9 per cent purity had settled at ₹1,02,520 per 10 grams. In the local markets, gold of 99.5 per cent purity dipped ₹1,000 to ₹1,01,100 per 10 grams (inclusive of all taxes) on Tuesday. "Gold prices dipped after U.S. President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns," Abans Financial Services CEO Chintan Mehta said. Adding to this, the White House announced on Monday (August 11) that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta added. On Tuesday, the rupee edged higher by 10 paise to 87.65 against the U.S. dollar in early trade. Meanwhile, silver prices slumped by ₹2,000 to ₹1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at ₹1,14,000 per kg on Monday. On the global front, spot gold was trading at $3,347.18 per ounce, up by 0.13 per cent in New York. 'Trump's announcement allays fears' Renisha Chainani, Head of Research at Augmont, said Mr. Trump's announcement on Monday that gold will not be subject to tariffs allayed concerns about a dramatic rise in the price of importing the metal, causing prices to drop below $3,400 per ounce. Spot silver rose nearly 1 per cent to trade at $37.90 per ounce in the overseas markets. "Investors will continue to closely watch upcoming U.S. macroeconomic data, such as Consumer Price Index, Producer Price Index and retail sales, which will provide fresh cues on the Federal Reserve's interest rate trajectory," Ms. Chainani said. According to commodities market experts, speeches from some U.S. Fed officials will play a key role in driving the near-term U.S. dollar price dynamics and provide some meaningful impetus for the direction of bullion prices. The demand for the safe haven asset took a hit due to speculation that the meeting between Mr. Trump and his Russian counterpart Vladimir Putin on Friday (August 15, 2025) could unveil a truce plan for the ongoing Russia-Ukraine conflict, they added.
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Business Standard
4 days ago
- Business
- Business Standard
Gold plunges ₹1,000 to ₹1,01,520 in NCR amid global markets sell-off
Gold prices plunged Rs 1,000 to Rs 1,01,520 per 10 grams in the national capital on Tuesday in line with a sell-off in global markets, according to the All India Sarafa Association. On Monday, the precious metal of 99.9 per cent purity had settled at Rs 1,02,520 per 10 grams. In the local markets, gold of 99.5 per cent purity dipped Rs 1,000 to Rs 1,01,100 per 10 grams (inclusive of all taxes) on Tuesday. "Gold prices dipped after US President Donald Trump clarified on social media that there would be no tariffs on gold imports. Although an official confirmation from the White House is still pending, the announcement eased some trade-related concerns," Abans Financial Services CEO Chintan Mehta said. Adding to this, the White House announced on Monday that the suspension of high-level tariffs on China will be extended until November 11. This decision has helped ease ongoing macroeconomic tensions for now, which has pressured gold prices downwards, Mehta added. On Tuesday, the rupee edged higher by 10 paise to 87.65 against the US Dollar in early trade. Meanwhile, silver prices slumped by Rs 2,000 to Rs 1,12,000 per kilogram (inclusive of all taxes) on Tuesday. It had settled at Rs 1,14,000 per kg on Monday. On the global front, spot gold was trading at $3,347.18 per ounce, up by 0.13 per cent in New York. Renisha Chainani, Head of Research at Augmont, said Trump's announcement on Monday that gold will not be subject to tariffs allayed concerns about a dramatic rise in the price of importing the metal, causing prices to drop below $3,400 per ounce. Spot silver rose nearly 1 per cent to trade at $37.90 per ounce in the overseas markets. "Investors will continue to closely watch upcoming US macroeconomic data, such as Consumer Price Index, Producer Price Index and retail sales, which will provide fresh cues on the Federal Reserve's interest rate trajectory," Chainani said. According to commodities market experts, speeches from some US Fed officials will play a key role in driving the near-term US Dollar price dynamics and provide some meaningful impetus for the direction of bullion prices. The demand for the safe haven asset took a hit due to speculation that the meeting between Trump and his Russian counterpart Vladimir Putin on Friday could unveil a truce plan for the ongoing Russia-Ukraine conflict, they added.
Time of India
08-08-2025
- Business
- Time of India
Gold climbs Rs 800 to scale new record of Rs 1,03,420 per 10 gram
Gold prices climbed by Rs 800 to hit a fresh all-time high of Rs 1,03,420 per 10 grams in the national capital on Friday due to persistent buying by stockists, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity added Rs 3,600 in the preceding session to hit a new closing peak of Rs 1,02,620 per 10 grams. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Your donations can help this little boy see again clearly Donate For Health Donate Now Undo In the national capital, gold of 99.5 per cent purity also jumped by Rs 800 to hit a fresh peak of Rs 1,03,000 per 10 grams (inclusive of all taxes) on Friday, surpassing its earlier lifetime high of Rs 1,02,200 per 10 grams recorded after Thursday's session. In the last five sessions, the yellow metal prices have risen by Rs 5,800 per 10 grams. "Gold prices rise after US imposed a 39 per cent tariff on 1 kg and 100-ounce of gold bars imported from Switzerland, disrupting a key supply route and injecting fresh volatility into the bullion market. Live Events "The reclassification of these bars under a taxable category ended their long-standing exemption, as Switzerland is a major refining hub and the move has created supply-side uncertainty and revived safe-haven interest in gold amid broader geopolitical tensions," Abans Financial Services ' CEO Chintan Mehta said. Silver prices also rallied Rs 1,000 to Rs 1,15,000 per kilogram (inclusive of all taxes) on Friday. It had settled at Rs 1,14,000 per kg on Thursday, as per the association. The white metal has added Rs 5,500 per kilogram in the last five sessions. According to Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities, gold's rally is fuelled by worries about the global economic outlook, particularly following the implementation of President Donald Trump's new tariffs on Thursday. Additionally, weak US macroeconomic data has increased expectations that the Federal Reserve will lower interest rates as early as September, Gandhi said. On the MCX, the most traded gold futures for October contracts appreciated Rs 782 or 0.77 per cent to hit a fresh peak of Rs 1,02,250 per 10 grams. Subsequently, the December contracts rallied Rs 849 or 0.83 per cent to hit a lifetime high of Rs 1,03,195 per 10 grams on the bourse. "Going ahead, gold prices are expected to remain choppy as Trump's tariff stance continues to create uncertainty, especially with the India deal appearing off the table for now. Any positive movement in the rupee could limit gold's upside," Jateen Trivedi, VP Research Analyst - Commodity and Currency at LKP Securities, said. Silver futures for September contracts rose Rs 554 or 0.48 per cent to Rs 1,14,840 per kilogram on the Multi Commodity Exchange (MCX). Spot gold is trading flat at USD 3,388.56 per ounce. During the day, the precious metal increased by USD 104.02 or 3.06 per cent to hit a record high of USD 3,500.33 per ounce in New York. "Gold reached a fresh high above USD 3,500, with the Bank of England lowering interest rates for the sixth time this year and jobless claims increasing more than anticipated this week," Renisha Chainani, Head Research at Augmont, said. Meanwhile, spot silver went up marginally to USD 38.28 per ounce in the international markets.
