The yellow metal of 99.9 percent purity was arranged on Wednesday at RS 1.00,020 per 10 grams.
In the national capital, gold of 99.5 percent purity rs 500 to RS 1.00.200 per 10 grams (including all taxes) on Thursday. The precious metal was closed on RS 99,700 per 10 grams in the previous session.
“The golden prizes rose Thursday, driven by the demand for safe haven and bargain after the price in the previous session fell to a low three weeks.
“The renewed demand for Safe Haven was stimulated by the call by President Donald Trump for the resignation of a Governor of the Federal Reserve, who expressed concern about the independence of the Central Bank,” said Saumil Gandhi, senior analysts at HDFC Securities.
After this comment, the US dollar withdrew from the recent high, further support for gold prices, Gandhi added. At the silver prices rose with RS 1,500 to RS 1.14,000 per kilogram (including all taxes) on Thursday. It had finished on Wednesday at RS 1.12,500 per kg, according to the association. In the international markets, Spot was 0.28 percent lower on USD 3,339.04 per ounce in New York. “Gold keeps stable near USD 3,340 per ounce, while investors are waiting for the American macro -economic data, including Jobless claims, PMIS and existing home sales.
“De belangrijkste focus blijft echter op de toespraak van Fed-voorzitter Jerome Powell op het Jackson Hole Symposium, terwijl beleggers nauwlettend in de gaten houden voor tekenen van een monetaire beleidsverschuiving, met name nadat de opmerkingen van vorig jaar de start van een rate-cutting cyclus betekenden,” zei Kaynat Chainwala, AVP Commodity Research, Kotak Securities,.
In the meantime, the minutes of the American Federal Reserve meeting revealed in July that civil servants remain careful about inflation and the labor market, where most of them are considering reducing interest rates.
Spot silver also fell by 0.32 percent to USD 37.78 per ounce.
#Gold #climbs #silver #peaks