Diptendu Lahiri

PRECIOUS-Gold holds firm above $1,400 as markets look past robust U.S. data

12 Jul 2019

* GRAPHIC-2019 asset returns: http://tmsnrt.rs/2jvdmXl (Updates prices)

PRECIOUS-Gold rises after Powell's remarks bolster rate cut hopes, hurt dollar

11 Jul 2019

* Powell: Fed will act "as appropriate" to sustain economic growth

PRECIOUS-Gold edges up from 1-week lows on bargain hunting; focus on Fed

09 Jul 2019

July 9 Gold edged up on Tuesday after falling to a one-week low earlier in the session as investors used the drop in prices to buy the yellow metal with bullion holding a key technical level.

Gold edges lower as aggressive rate cut views fizzle

08 Jul 2019

Gold prices edged lower on Monday as increasing expectations that the U.S. Federal Reserve will not aggressively cut interest rates later this month boosted the dollar, making gold expensive for holders of other currencies.

India rice rates gain, other hubs struggle to keep up

04 Jul 2019

BENGALURU Rice export prices in India inched up this week, helped by a stronger rupee and a slight uptick in demand, while other hubs in Asia struggled to compete with rates offered by the top exporter.

Gold steadies as stocks surge; growth risks, bets on rate cuts lend support

03 Jul 2019

Gold steadied on Wednesday, paring earlier gains as a rally in equities reduced the attraction of the non-yielding metal, while global growth concerns and prospects for dovish monetary policy kept bullion supported.

CORRECTED-PRECIOUS-Gold jumps 1.5% as yields dropped on global on growth concerns

03 Jul 2019

July 2 Gold prices rose 1.5% on Tuesday, a day after posting the biggest one-day percentage fall in 2-1/2 years, as U.S. Treasury yields fell on worries over global growth and renewed concerns over global trade.

PRECIOUS-Gold falls as dollar, equities gain on U.S.-China truce

01 Jul 2019

(Updates prices) * Dollar hits more than one-week high * Gold breaks below $1,400 per ounce * SPDR Gold holdings fall 0.2% on Friday * Platinum off six-week highs By Diptendu Lahiri July 1 Gold slid by as much as 2% on Monday as the dollar rallied and investors flocked to higher-risk assets after the agreement to resume of trade talks between the United States and China. Spot gold was down 1.66% to $1,385.75 per ounce at 1:46 p.m. EDT (1746 GMT), after earlier falling to $1,381.51, its lowest since June 20. U.S. gold futures settled 1.7% lower to $1,389.30 per ounce. The United States and China agreed on Saturday to resume trade negotiations after President Donald Trump offered concessions to his Chinese counterpart Xi Jinping when the two met on the sidelines of the G20 summit in Japan. The news spurred a rally in global stocks and sent the dollar index to the highest in more than a week, limiting flows into safe-haven bullion. "Under the positive (geopolitical) circumstances, the dollar is rallying and that is having a negative effect on gold. ... The poor picture on the technical charts is also causing some additional selling today," said Rob Lutts, chief investment officer at Cabot Wealth Management. A break below $1,350 per ounce could paint a bearish picture, he added. Gold prices hit a six-year high last week at $1,438.63 an ounce, driven by a dovish outlook from major central banks and an escalation of tensions between the United States and Iran. The metal has shed about $50 since it broke the $1,400 threshold, but some analysts see it as a healthy correction and an opportunity to buy. "We do not expect gold to fall significantly further. In our view, it is above all the upcoming European Central Bank and Fed rate cuts, and the political risks, that argue against any pronounced and lasting price slide," Commerzbank analysts said in a note. Meanwhile, holdings of the SPDR Gold Trust , the world's largest gold-backed exchange-traded fund, fell 0.22% on Friday. Holdings had still risen nearly 7% in June as of last week. Among other precious metals, silver fell 1.1% to $15.14 per ounce, while palladium rose 0.68% to $1,548.51 per ounce. Platinum inched down 0.66% to $827.50, after hitting a six-week high of $846.11 per ounce earlier in the session. (Reporting by Diptendu Lahiri in Bengaluru; Editing by G Crosse and Will Dunham)

Gold retraces from six-year peak after comments from U.S. Fed officials

26 Jun 2019

Gold prices retreated from a six-year high on Tuesday after comments from U.S. Federal Reserve officials trimmed expectations that the central bank will lower interest rates by half a percentage point next month.

PRECIOUS-Gold rallies to near six-year top on U.S.-Iran dispute

24 Jun 2019

* SPDR posts biggest daily percentage gain since 2008 * Speculators increase net longs in COMEX gold * Spot gold prices up more than 8% this month (Updates prices) By Diptendu Lahiri June 24 Gold prices rose more than 1 percent on Monday to a near six-year peak as the dollar fell, with safe-haven bullion also boosted by U.S. President Donald Trump's announcement to impose fresh sanctions on Iran. Spot gold was 1.2% higher at $1,415.16 an ounce by 01:57 p.m. EDT (1757 GMT), heading for a fifth straight session of gains. Its session high of $1,416.84 was its highest level since late August 2013. U.S. gold futures settled up 1.3% at $1,418.20 an ounce. "Gold is holding some sprawling gains from the earlier sessions prompted by slumping dollar and increasing safe haven demand on the back of President Trump threatening to impose new sanctions on Iran," said Alex Turro, market strategist at RJO Futures. "Gold is also getting some underlying support by the central banks trying to cut rates." Trump imposed new U.S. sanctions on Iran on Monday following Tehran's downing of an unmanned American drone and said the measures would target Iranian Supreme Leader Ayatollah Ali Khamenei. Gold prices have risen over 8% this month, and about $75 an ounce over the past week. "It's the strong upside momentum from last week along with higher ETF buying and a weaker dollar boosting gold prices," INTL FCStone analyst Edward Meir said. Holdings of the world's largest gold-backed ETF, SPDR Gold Trust , jumped 4.6% on Friday from the previous day, its biggest daily percentage gain since September 2008. Helping gold's appeal, the dollar dipped, after its biggest weekly drop since mid-February last week on bets the U.S. Federal Reserve would start lowering interest rates as early as next month. The Fed and the European Central Bank last week hinted they were open to easing policy to counter a global economic slowdown, exacerbated by trade tensions. Investors' eyes will be on a summit in Japan this week of leaders from the Group of 20 leading world economies. China's President Xi Jinping and Trump are expected to meet on the sidelines, which could be pivotal in getting negotiations back on track to resolve a trade war. "The China-U.S. trade conflict is not getting anywhere. Additionally, the Iranian conflict is also starting to heat-up... That is why people are seeking gold as safe haven," said an analyst based in New York. "The climb in gold prices has woken people up. Now that gold has broken the 1,400 level, it is expected to go up." Speculators also boosted their bullish stance in COMEX gold in the week to June 18, the U.S. Commodity Futures Trading Commission said on Friday. Silver edged 0.4% higher to $15.41 per ounce and platinum rose 0.7% to $811.36. Palladium climbed 2.6% to $1,539.51 an ounce. (Reporting by Diptendu Lahiri and Swati Verma in Bengaluru Editing by Marguerita Choy, David Gregorio and Susan Thomas)

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