Gold Safe Haven

Gold rate today: A weaker-than-expected US job data may help the metal test the crucial resistance in $2,690-$2,700, says analyst at Mirae Asset Sharekhan

Goldman Sachs expects gold prices to reach $3,150 per ounce (bull-case scenario; base case: $3,000/oz) by December 2025, an upside of around 17 per cent from the current levels

At 6:54 AM, GIFT Nifty futures were trading 395 points higher at 24,281.5, indicating a gap-up start for the bourses

On October 22, foreign institutional investors continued their selling spree, offloading shares worth Rs 3,978.61 crore, while domestic institutional investors bought shares totaling Rs 5,869.06 crore

Spot gold at the time of the MCX closing was trading at $2624, up around 0.55 per cent on the day. The MCX December Gold contract at Rs 75,152 (LTP) was up nearly 0.30 per cent.

Spot gold crashed to breach the crucial support around $2620 on Tuesday as commodities witnessed across-the-board selling.

At 7:06 AM, GIFT Nifty futures also indicated a weak start for the bourses, trading 66 points lower at 25,410 levels.

UBS analysts have raised gold's target to $2,750 per oz by end-2024 (from $2,600 per oz), $2,850 per oz by mid-2025 (from $2,700 per oz), and $2,900 per oz by end-3Q25 (from $2,750 per oz)

Gold hit a fresh record high of $2664 and closed with a hefty gain of 1.09 per cent at $2657.

US yields and the US Dollar Index surged on no recession talks, which sent the yellow metal to $2547 in today's Asian session.

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 62,990

The MCX Gold August contract was down by 0.11 per cent at its LTP of Rs 72,193. Risk appetite remains weak as wider markets swoon

The price of 22-carat gold also went down by Rs 10, with the yellow metal selling at Rs 66,360

China's official gold reserves, Wood said, have increased by 314 tonnes, or 16.1 per cent, from 1,948 tonnes at the end of October 2022 to 2,262 tonnes at the end of March 2024

If you bought gold during Diwali 2019, by this Diwali you would have been sitting on 60 per cent returns on your domestic Gold investments, said Motilal Oswal Financial Services

Demand jumped 20% y/y and was 38% higher than its five-year quarterly average of 40t.

During periods of turmoil, gold tends to make headlines as fans of the precious metal argue it can act as a safe haven. But is it also an inflation hedge? Is it considered a risk asset?

The MCX Gold October futures need to overcome the resistance at Rs 59,930, for fresh buying to emerge, indicates technical chart.

Gold prices held steady on Friday, but the safe-haven metal was bound for its second straight quarterly gain after recent banking turmoil

Worth its weight in Gold: Saw portfolio increase of 1-6 percentage points in November-December 2022