Latest news with #USCorePersonalConsumptionExpenditures
Time of India
3 days ago
- Business
- Time of India
Gold rises Rs 100 to Rs 98,600/10 g; silver stays flat
New Delhi: Gold prices rose Rs 100 to Rs 98,600 per 10 grams in the national capital on Friday due to a pick-up demand by the jewellers and retailers, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity climbed Rs 100 to Rs 98,100 per 10 grams (inclusive of all taxes). In addition, silver prices remained flat for the second straight session at Rs 1,00,000 per kg (inclusive of all taxes) on Friday. On the global front, spot gold dipped by USD 21.91 per ounce or 0.66 per cent to USD 3,295.82 per ounce. "Gold is trading steady near USD 3,320 per ounce, with investors' focus shifting to upcoming US Core Personal Consumption Expenditures (PCE) data, University of Michigan inflation expectations, and consumer sentiment," Kaynat Chainwala, AVP Commodity Research at Kotak Securities, said.
See - Sada Elbalad
25-03-2025
- Business
- See - Sada Elbalad
Trade turmoil and US foreign policy bolster gold's stability above $3,000.
Waleed Farouk Gold prices rose in local markets during trading on Tuesday, with the ounce rising on the global stock exchange, due to increased demand as a safe haven amid a general market that remains volatile. This is attributed to the turmoil in trade and US foreign policy. Gold prices rose by about 20 Egyptian pounds during trading today, compared to yesterday's closing price, with the price of 21-karat gold reaching 4,285 Egyptian pounds per gram, while the price of an ounce rose by about $17, reaching $3,033. The price of 24-karat gold reached 4,897 Egyptian pounds per gram, and the price of 18-karat gold reached 3,673 Egyptian pounds per gram. The price of 14-karat gold reached 2,857 Egyptian pounds per gram, while the price of the gold pound reached 34,280 Egyptian pounds per gram. Gold prices in local markets fell by EGP 15 during trading on Monday, with the price of a gram of 21-karat gold opening at EGP 4,280 and closing at EGP 4,265. Meanwhile, the price of an ounce on the global stock exchange fell by $12, opening at $3,024 and closing at $3,012. Gold is experiencing increased demand as a safe haven amid a general market that remains volatile, largely due to turmoil in trade and US foreign policy. This has pushed gold prices to remain near their highest levels, above $3,000 per ounce, while consumer confidence continues to decline sharply, raising further concerns that the US economy is heading towards recession. The Conference Board reported in a report released a short while ago that its consumer confidence index fell to 92.9, down from the revised February reading of 100.0. The data came in weaker than expected, with economists expecting a smaller decline to 94.2 points. Meanwhile, markets are awaiting the repercussions of US President Donald Trump's latest decision to impose "secondary tariffs" of 25% on all imports from countries that buy oil from Venezuela, which would mean a sharp increase in tariffs on goods from China and India. Trump also stated on Monday that reciprocal tariffs would be eased for countries that meet US demands to repatriate their businesses and factories. He went further, saying that tariffs on cars, aluminum, and pharmaceuticals would be imposed in the very near future. Renewed concerns about global economic growth, the threat of a trade war waged by Donald Trump, and bets on a US interest rate cut have driven demand for safe haven assets to record highs, driven by investors who use gold as a hedge against global economic and political uncertainty. While the pace of inflows from gold-backed exchange-traded funds (ETFs) has contributed to increased demand and price appreciation, this is one of the most interesting developments in the commodities market towards the end of the first quarter of 2025. If this trend continues, it could push prices to new record highs in the second quarter of the year. Meanwhile, markets are awaiting the US Core Personal Consumption Expenditures (PCE) data, which measures personal income and spending, due next Friday. This is the Federal Reserve's preferred measure of inflation, for clues about the Fed's monetary policy direction. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) News Ireland Replaces Former Israeli Embassy with Palestinian Museum News Israeli PM Diagnosed with Stage 3 Prostate Cancer Lifestyle Maguy Farah Reveals 2025 Expectations for Pisces News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
