Tag: gold price

After underperforming most risk assets last year, Gold has emerged as the best-performing asset class in 2022. The metal was trading at around $1,900 per ounce in the international market yesterday(22nd Feb.2022), up from $1,796 at the end of January. The precious metal made an intra-day high of $1,918 on Tuesday. Currently, gold is trading at its highest level since June 2021. The yellow metal is up nearly 5 percent during February and nearly 4 percent since the beginning of the calendar year as stocks and currencies struggle amidst high inflation and geopolitical tensions between Russia and Ukraine. In comparison, the Dow Jones is down 6.2 percent year-to-date (YTD) in 2022, while the Sensex is down 2 percent YTD in dollar terms and 1.6 percent in local currency. Other major stock indices, such as UK's FTSE100, Germany's DAX, Japan's Nikkei 225, and China’s Shanghai Composite, have also underperformed the yellow metal this year so far. Read more

Attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021, suggests the latest report from World Gold Council (WGC). That said, the upcoming festival season, including Dhanteras and the wedding season in the October – December quarter of 2021, WGC believes, may see an uptick in demand for the yellow metal. “Consumer investment in gold increased in the second quarter of 2021, but some investors were less bullish. Outlook for the second half of 2021 is yet uncertain, as consumer confidence and business response are subject to the impact of a looming threat of the third wave of Covid and the pace of economic recovery,” said the WGC report. But attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021. Read more

Gold briefly breached $1,800 an ounce today(8th July 2020) for the first time since 2011 as mounting fears over the fast global spread of the coronavirus sent investors scurrying for safe havens. Spot gold had risen 0.3 percent to $1,799.22 per ounce by 0854 GMT, after hitting its highest since November 2011, at $1,800.18, earlier in the session. US gold futures rose 0.2 percent to $1,812.90 per ounce. European shares opened lower as soaring COVID-19 cases dented hopes of a swift economic recovery. Read more

Gold prices surged to a record high in India today( 22nd June 2020), as safe-haven bets remained in vogue in light of the coronavirus pandemic that has led to an economic slowdown across the globe. The escalated geopolitical tensions between India and China also drove the recent leg of the rally for the yellow metal in the domestic market. Analysts believe the rally for gold is here to stay and foresee a firm trend in the near term. Read more

A sharp fall in gold prices this past week took investors by surprise but according to experts, it was expected. Gold prices enjoy an inverse relationship with equities, which have been rallying of late on hopes that the global economic recovery from the coronavirus crisis will be faster than expected. A sharp drop in the US unemployment rate in May and solid PMI readings in some of the Asian economies have weakened the safe-haven appeal of the yellow metal. In India, lockdown restrictions have lifted to a large extent, with shopping malls, hotels, and restaurants opening in large parts of the country from today. This has eased concerns over the impact of coronavirus pandemic on the economy, thus somewhat diminishing the appeal of safe-haven gold. Read more