Gold prices shoot up by Rs 1,395 to Rs 41,705 per 10 grams; silver rises by Rs 2,889 to Rs 38,100 a kilo

Gold prices jumped Rs 1,395 to Rs 41,705 per 10 gram yesterday (Friday), following rally in the international prices of the precious metal. On Thursday, the precious metal had closed at Rs 40,310 per 10 gram. Meanwhile, silver prices advanced Rs 2,889 to Rs 38,100 per kg against the previous close of Rs 35,211 per kg. In the international […]

Read more

Gold, base metals, crude oil jump on US Fed’s surprise interest rate cut

Gold-bullion-vault.jpg

Base metals’ prices jumped by 1-2 per cent on Wednesday after the United States Federal Reserve (US Fed) announced a 50 basis points (bps) emergency interest rate cut. The Fed also confirmed high downside risk for the global economy as a result of increasing number of coronavirus (COVID-19) cases across the world. Gold and silver price increased […]

Read more

China’s growing domination of base metals continues: Reuters

A recent Reuters article suggests China’s domination of the base metals market was marching on relentlessly prior to the coronavirus outbreak. The headline, “China’s copper imports and aluminium consumption to drop again in 2020,” suggested otherwise, painting an initial image of a depressed market — but the reality is it is anything but. China’s imports […]

Read more

Daily Masala

Here is what others are talking about this morning: Oil prices fall amid broader market selloff, despite tightening supplies Gold rises on Fed caution, palladium hits 16-year peak Investors sell stocks, dollar on fears Trump agenda is foundering Iron ore joins base metals price rally Indian steel makers’ earnings to be steady: Moody’s India bans […]

Read more