• Contact us
  • Privacy Policy
  • Sitemap
  • Disclaimer
Friday, February 3, 2023
NewsLiveNation
No Result
View All Result
  • Login
  • Contact us
  • Business
    • Economy
    • Finance
    • Insurance
  • Health
  • Lifestyle
    • Travel
  • News
    Twitter

    yesu_x Twitter: Biography and real identity

    Marcel Young: Read about the son of legendary rap singer Dr. Dre

    Lou Sulola Samuel: A Child Supermodel

    Lou Sulola Samuel: A Child Supermodel

    Michael Other’s Tiffany Roy Bio

    Michael Other’s Tiffany Roy Bio

    Coronavirus variants detected via covid-19 tests, labs suggest

    Coronavirus Variants Detected via Covid-19 Tests, Labs Suggest

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Entertainment
    • National
    • Politics
    • World
  • Opinion
  • Science
  • Tech
  • Contact us
  • Business
    • Economy
    • Finance
    • Insurance
  • Health
  • Lifestyle
    • Travel
  • News
    Twitter

    yesu_x Twitter: Biography and real identity

    Marcel Young: Read about the son of legendary rap singer Dr. Dre

    Lou Sulola Samuel: A Child Supermodel

    Lou Sulola Samuel: A Child Supermodel

    Michael Other’s Tiffany Roy Bio

    Michael Other’s Tiffany Roy Bio

    Coronavirus variants detected via covid-19 tests, labs suggest

    Coronavirus Variants Detected via Covid-19 Tests, Labs Suggest

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Entertainment
    • National
    • Politics
    • World
  • Opinion
  • Science
  • Tech
No Result
View All Result
Morning News
No Result
View All Result
Home Economy

Gold Rate: Retail gold prices go past Rs 50okay/10gm mark | India Business News – Times of India

newslivenation by newslivenation
July 2, 2020
in Economy
0
Gold Rate: Retail gold prices go past Rs 50okay/10gm mark | India Business News – Times of India
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

[ad_1]

MUMBAI: A robust world demand for gold, together with a depreciating rupee, helped the yellow metallic to breach the Rs 50,000-per-10gm mark in Mumbai’s retail market on Wednesday. This is the primary time the worth of the valuable metallic, with which Indians affiliate sentimentally, crossed the psychologically necessary stage.
At the identical time, on main commodities bourse MCX, the worth was hovering slightly below the Rs 49,000 mark for contracts that can expire in August’s first week.
According to knowledge analysed by TOI, gold began transferring up solely after mid-2018, until when its value was vary-sure at Rs 30,000-32,000 for a number of years. In the final two years, the return from the valuable metallic has been a staggering 57%. In the method, it has outperformed all different asset lessons. The 10-year gilts — with almost 17% returns — are the following finest asset class.

On Tuesday evening on the Nymex in New York, gold prices neared an eight-12 months excessive at simply above the $1,800-per-ounce mark. This helped home prices shoot up through the day, market gamers mentioned. According to Motilal Oswal Financial Services VP (commodities analysis) Navneet Damani, gold surged to its highest in almost eight years as mounting fears of a resurgence of new coronavirus circumstances saved protected-haven demand for the yellow metallic alive. This set the valuable metallic on the trail to its greatest quarterly acquire since March 2016.
With shares and bonds as investments not displaying a lot hope for good returns within the subsequent few years, gold stands out because the asset class that might give robust returns, a latest analysis report by Bank of America Securities mentioned. The report had predicted that by end-2021, the worth of gold may rally as much as $3,000 per ounce which, when translated into Indian charges, may very well be upwards of Rs 82,000/10gm at present change charges.
The components which might be aiding the gold-price rally are the uncertainties relating to the Hong Kong problem, fears a couple of second wave of Covid-19 infections slowing world financial development additional and the promise of central banks to infuse cash into the monetary system to struggle the virus an infection with a “whatever-it-takes” method, trade gamers mentioned. “US treasury secretary Steven Mnuchin and Fed governor Jerome Powell pledged to do more for the US economy as it battles the enormous fallout from the virus outbreak,” Damani wrote in a observe.
In Video:Retail gold prices go past Rs 50k/10gm mark

READ ALSO

AMarkets Review 2021: Best Platform for Forex and CFD Trading

FIR lodged against Franklin

[ad_2]

Source link

Tags: Business newsCRUDEGoldmcxmetalnew yorksafe havenSensex

Related Posts

AMarkets Review
Economy

AMarkets Review 2021: Best Platform for Forex and CFD Trading

November 17, 2021
FIR lodged against Franklin
Economy

FIR lodged against Franklin

September 25, 2020
Government To Study Vodafone Arbitration Case Award
Economy

Government To Study Vodafone Arbitration Case Award

September 25, 2020
S&P 500, Dow extend longest losing spree in a year as coronavirus cases top 7 mn
Economy

S&P 500, Dow extend longest losing spree in a year as coronavirus cases top 7 mn

September 25, 2020
Harley Close To Deal With Hero After Stopping Local Manufacturing: Report
Economy

Harley Close To Deal With Hero After Stopping Local Manufacturing: Report

September 25, 2020
Indian Economy To See Record Contraction In 2020-21 Before Sharp Recovery: S&P
Economy

Indian Economy To See Record Contraction In 2020-21 Before Sharp Recovery: S&P

September 25, 2020
Next Post
Indra Mani Pandey to be India’s next ambassador to UN, WHO | India News

Indra Mani Pandey to be India’s next ambassador to UN, WHO | India News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

How To Make Self-Care A Part Of Your Routine

How To Make Self-Care A Part Of Your Routine

October 4, 2022
John Krasinski Net Worth

John Krasinski Net Worth: Is he the richest actor from the cast of The Office?

June 1, 2022
Alvin Louise Martin

Alvin Louise Martin: Everything you need to know about Whoopie Goldberg’s ex-husband. Where is he now? 

June 1, 2022
Pakistani court convicts 3 LeT and JuD leaders, including Hafiz Saeed’s brother-in-law

Pakistani court convicts 3 LeT and JuD leaders, including Hafiz Saeed’s brother-in-law

August 29, 2020

EDITOR'S PICK

News18 Logo

UK PM Johnson Speaks With Indian Counterpart Modi on Covid-19 Vaccines, Climate Change and Trade

November 27, 2020
Bihar increases salaries of teachers, librarians by 15% from April next year

Bihar increases salaries of teachers, librarians by 15% from April next year

August 29, 2020
Maharashtra HSC Results 2020 declared: Here’s direct link to check MSBSHSE Board class 12 marks

Maharashtra HSC Results 2020 declared: Here’s direct link to check MSBSHSE Board class 12 marks

July 16, 2020
Rs 3.88 Crore Assets Of Revenue Officer Seized By Enforcement Directorate In Money Laundering Case

Rs 3.88 Crore Assets Of Revenue Officer Seized By Enforcement Directorate In Money Laundering Case

July 24, 2020

About

newslivenation.in


newslivenation.in is an open platform for people who loves to read and write. You can gather information or share your views in your words here. We will always be happy to provide the most recent facts, technological news etc. Happy reading!

Follow us

Tech

How to Change Passcode on iPhone?

February 3, 2023
Technology

Airtel Prepaid plans under Rs 300

February 1, 2023
Entertainment

Deepa Thomas

February 1, 2023

How to Change Passcode on iPhone?

  • Contact us
  • Privacy Policy
  • Sitemap
  • Disclaimer

Copyright © 2022 All Rights Reserved | Powered by Newslivenation

No Result
View All Result
  • News
  • Politics
  • National
  • Business
  • Finance
  • World
  • Entertainment
  • Fashion
  • Food
  • Health
  • Lifestyle
  • Opinion
  • Science
  • Tech
  • Travel

Copyright © 2022 All Rights Reserved | Powered by Newslivenation

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In