The International Monetary Fund (IMF) revised down its forecast for the Asian economy amid the mounting COVID-19 fallout, projecting a 1.6 per cent contraction in 2020, and warning of “clouds on the horizon.” The latest projection is a downgrade to the forecast of zero growth in the April World Economic Outlook (WEO), indicating stronger global […]
Yeah, so the yellow metal once again has blown the trumpet with making another high for itself at Rs 48,982 on the MCX with some correction in the later part of the day. It is an all time high in last eight years and it traded at $1800/oz. The outlook for gold looks positive in […]
Indian spot gold prices climbed to record highs of around Rs 50,000/10 grams in key markets on Wednesday, sparking sales of recycled gold as consumers booked profits. “Depending on the time of their purchases, some people are getting a 25% profit and a few up to 30-40%. That is why resale of gold has picked up,” […]
The current global downturn triggered by the COVID-19 pandemic is affecting commodities in a wide variety of ways, but Australia’s overall export outlook is still relatively strong, a government report said, adding that export earnings are estimated to set an all-time record in 2019–20. The report by Australia’s Department of Industry, Science, Energy and Resources […]
The World Economic Outlook (WEO) has forecast global growth at –4.9 per cent in 2020, 1.9 percentage points below the April 2020. The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. According to […]
Soaring prices of gold amid rising coronavirus cases have spooked buyers and hit demand in India, the world’s second-largest consumer of the yellow metal after China. Spot gold prices have risen to around $1,770/ounce, an eight-year high, while Indian prices have edged up to a new high of Rs 48,333/10 grams. Despite a reopening of […]
The Bombay Stock Exchange (BSE) has launched monthly futures contracts in almonds, which is the world’s only available derivatives contract for trading in almonds. This move came days after BSE had launched options trading in Gold mini and Silver contracts on its platform. After receiving approval from Sebi, NSE launched options on gold mini on June 8, […]
Prior to the coronavirus outbreak, peak gold supply was becoming a real possibility. Now, with exploration programs halted or cancelled and project disruptions hampering production, the summit is in sight, according to research firm Wood Mackenzie’s latest report. As organic growth is waning, miners are looking to buy gold through mergers and acquisitions to secure […]
Gold exchange traded funds saw net inflows of Rs 815 crore in May as investors preferred safe haven options amid stock market volatility and the coronavirus crisis. The category has been one of the better performing asset classes since last year. Since August 2019, gold ETF segment has received net inflows of Rs 3,299 crore. According to latest data […]
Asian markets started the week on the backfoot early last week while oil prices slipped as fears of a second wave of coronavirus infections in China sent investors scurrying for safe-havens. However, risk sentiment took a knock after Beijing recorded dozens of new COVID-19 cases in recent days, all linked to a major wholesale meat […]
