Karen Rodrigues

India's gold demand loses steam due to high prices

07 Dec 2018

Gold was sold at a discount this week in India for the first time in a month as a rebound in local prices prompted jewellers to postpone purchases, while demand improved in top consumer China due to seasonal buying.

Asia Gold: Weddings boost Indian demand; activity muted in other hubs

22 Nov 2018

MUMBAI/BENGALURU Physical gold demand in India was robust this week as consumers stepped up purchases during the traditional wedding season after domestic rates slipped to a near six-week trough, while gains in global prices weighed on bullion's appeal in other Asian hubs.

Asia Gold: India swings to premium; benchmark price dip lends appeal elsewhere

16 Nov 2018

MUMBAI/BENGALURU Gold is trading at premium in India for the first time in more than two months on robust demand following a busy festival week, while a dip in global prices earlier this week helped bullion's appeal in some Asian hubs.

Asia Gold: Key festivals light up Indian demand

09 Nov 2018

MUMBAI/BENGALURU Demand for physical gold gathered steam during a key festival week, shrugging off a recent downtrend going into the traditional busy wedding season, while other major Asian hubs saw limited activity.

Gold gains as investors weigh fallout of U.S. elections verdict

07 Nov 2018

BENGALURU Gold came off a one-week low to trade higher on Wednesday as investors sought cover from market volatility and uncertainty surrounding the fallout of U.S. mid-term elections results.

CORRECTED-PRECIOUS-Gold gains as investors weigh fallout of U.S. elections verdict

07 Nov 2018

(Corrects 14th paragraph to say holdings fell for third session on Tuesday, not Monday) * SPDR holdings fell 0.08 pct to 756.70 tonnes on Tuesday * Democrats will control House for first time in eight years * Dollar weakens versus all major peers By Eileen Soreng and Karen Rodrigues BENGALURU, Nov 7 Gold came off a one-week low to trade higher on Wednesday as investors sought cover from market volatility and uncertainty surrounding the fallout of U.S. mid-term elections results. Spot gold was up 0.3 percent at $1,230.26 per ounce, as of 0752 GMT, having touched its lowest since Nov. 1 at $1,222.90 earlier in the session. U.S. gold futures climbed 0.5 percent to $1,232.2 per ounce. "The spectre of a Democrat-controlled House suggests that we will see a little bit of risk-off in the market, which should probably benefit gold in parts," said ANZ analyst Daniel Hynes. Democrats rode a wave of dissatisfaction with President Donald Trump to win control of the U.S. House of Representatives. The win creates a clear hurdle for Republicans to easily pass legislation through both chambers of Congress, clouding the outlook for some of Trump's key economic proposals. Wall Street stock futures and Asian shares lost steam after Democrats won, while the dollar weakened against most of its major counterparts, helping the bullion's appeal among holders of other currencies. While the outcome of the elections was broadly in line with market expectations, a reason markets did not sell off, the prospect of political gridlock creates some uncertainty for investors. "In the short- and medium-term, gold will be bullish from here," said Peter Fung, head of dealing at Wing Fung Precious Metals in Hong Kong. Investors also awaited a two-day meeting of the Federal Reserve starting later in the day to gauge the outlook for U.S. monetary policy. Fed policymakers are not expected to raise key rates, but traders are waiting to see whether they offer clues about possible rate increases in December and in 2019, analysts said. "The outcome of the U.S. mid-term congressional elections and a two-day U.S. Federal Reserve meeting will likely keep trading activities tight for gold prices today," Benjamin Lu, a commodities analyst with Phillip Futures, said in a note. Spot gold may break a support at $1,224 per ounce and fall to the next support at $1,211, according to according to Reuters technical analyst Wang Tao. Holdings of the world's largest gold-backed exchange-traded fund, SPDR Gold Trust , fell for the third straight session to 756.70 tonnes on Tuesday. Among other precious metals, silver rose 0.4 percent to $14.59 per ounce, while palladium was down 0.2 percent at $1,114.25 per ounce. Platinum was up 0.2 percent at $869.50 an ounce. In the previous session, it touched its highest since June 25 at $875.70. (Reporting by Eileen Soreng and Karen Rodrigues in Bengaluru, Editing by Subhranshu Sahu and Sherry Jacob-Phillips)

Price drop spurs India gold demand, buyers eye bigger dips

29 Jun 2018

MUMBAI/BENGALURU Gold demand improved this week in India as prices fell to their lowest level in nearly three months, while demand elsewhere in Asia remained tepid as investors waited for prices to fall further.

Gold steadies after hitting six-month low as trade fears boost dollar

28 Jun 2018

LONDON Gold steadied after falling to its lowest in more than six months on Thursday as mounting pressure from a U.S.-driven trade dispute propelled the dollar to near a one-year high and led investors to dump equities.

Gold tumbles to three-week low as investors bail out

16 Jun 2018

LONDON Gold prices slumped to three-week lows on Friday as disappointed speculators liquidated long positions despite fresh trade skirmishes between the United States and China.

Gold hits 2-week high on dollar weakness, weak China data, trade worries

14 Jun 2018

LONDON Gold hit a two-week high on Thursday as the dollar fell and investors fretted over weak Chinese data and U.S.-China trade frictions, though the precious metal's upside was capped by a slightly more hawkish Federal Reserve.

World News