Gold prices drop today

Gold for June delivery GC00, Prices marked the lowest close for a mont-active contract since April 8, FactSet data show. May silver SIK20, The downbeat trade in precious metals comes as the U.

Gold prices can fall to $1,300 an ounce as recession looms - IHS Markit

India Gold June futures rose on May 7 tracking positive momentum seen in the international spot prices after a 1 percent drop in the previous session as grim US economic data underscored the impact of the coronavirus outbreak. Silver futures were trading 0. Gold and silver traded weak on Wednesday in the international market. Due to gains in the dollar index, and some profit-taking is seen in both the precious metals.

The dollar touched a more than one-week peak, limiting bullion's gains. Despite weakness in the rupee gold slipped around 1 percent and silver also slipped in the domestic market. Experts are of the view that volatility is likely to remain in the precious metal, and it could move in the range of 45,, levels per 10 gm. Track live gold price here. Bullion ended lower on Wednesday pressured by a stronger dollar and expectations that gold supplies will grow as bullion refineries resume operations.

International bullion prices have started higher this Thursday morning in Asian trade as bleak US economic data due to the COVID outbreak kept investors interested in the precious metals. MCX Gold June resisted to downward sloping trendline where 45, will act as an immediate halt. Moreover, it gave a close below 45, levels indicating a negative breath in the counter.

Therefore, Bearish momentum could take prices down to 44, in the coming session. COMEX gold trades higher by 0. Disappointing economic data, downbeat forecasts, interest rate cuts by central banks and US-China tensions is supporting gold. However, weighing on price is firmness in the US dollar and lifting of virus-related restrictions. Mixed factors may keep gold in a range however general bias may be on the upside owing to global growth concerns.

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Experts are of the view that volatility is likely to remain in the precious metal, and it could move in the range of levels per 10 gm. Kshitij Anand kshanand. Representative image. Download a copy. Latest Updates : Coronavirus Outbreak. Vehicle scrappage policy to help generate demand for new vehicles amid coronavirus pandemic.

Gold price today: Yellow metal rises tracking spot prices; may trade Facebook Twitter Instagram. Open in App.

Yet, in today's prices, they've since lost 15% since that all-time zenith. Gold's most pronounced price fall in the past decade happened between. Gold Price: Get all information on the Price of Gold including News, Charts and Realtime Quotes. Gold futures fall for the session, edge higher for the week.

Gold was extracted in Egypt as early as B. This shows that people have always been fascinated by gold and by its rarity, durability and beauty. Because of its properties, gold is also one of the most important industrial raw materials.

India Gold June futures rose on May 7 tracking positive momentum seen in the international spot prices after a 1 percent drop in the previous session as grim US economic data underscored the impact of the coronavirus outbreak.

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Gold prices end near 2-week low as the U.S. dollar strengthens

Domestic gold prices have seen a steep fall over the past one week In global markets too gold rates have tumbled amid flight to cash. Gold prices continued to decline in domestic markets, extending their recent fall. Gold is typically viewed as a safe harbour in times of turmoil in global financial markets. But the recent sharp fall in gold prices has been attributed to flight for cash amid heightened volatility across markets over the coronavirus scare. In global markets, gold prices also fell sharply, extending their recent loss as investors rushed to raise cash amid heightened panic in financial markets over the coronavirus pandemic. Among other precious metals, silver fell 4.

Gold Prices Drop as Inflation Falls Faster Than Bond Yields on Sub-Zero Oil Prices

Retention of value, millennia-long history, scarcity, etc. A permanent bull market for gold is impossible. If the price of gold had risen consistently and measurably in value since the days of Tutankhamen, its price would now be infinite. The supply of gold is largely static from one period to the next. Gold mines are large and plentiful, but almost the entirety of what they produce is waste. As technology improves, ore with lower concentrations of gold becomes more economically feasible to mine. Discard all the billions of tons of worthless ground rock and it has been estimated that all the gold ever mined would fit on a football field, piled less than 10 feet high. The gold mined each year adds less than the thickness of a coat of paint to the total.

Five ways to invest in gold. Gold prices ease on firmer equities.

Learn about gold bullion coins and costs. Gold Price News. Investment News.

Gold prices fall as traders continue to book profits

Gold on Friday eased from its highest in nearly two weeks, as investors grew hopeful about economies reopening after COVID lockdowns, but a continued wave of central. Gold hit a near two-week high on Friday as investors awaited U. Gold was hovering near a two-week high on Friday as investors awaited the U. Gold eased on Friday as appetite for riskier assets improved after a string of strong corporate earnings, while investors awaited the U. Gold prices gained on Thursday after a batch of sombre economic data heightened fears over global growth, while a stronger dollar and the easing of coronavirus-driven loc. Gold rose on Thursday as bleak economic data raised doubts about a recovery in the coronavirus-hit global economy even though some countries started easing lockdown measu. Former President Obama, who has largely kept out of the fray even as President Trump has blamed his Democratic administration for a variety of problems related to the pandemic, described Trump's handling of the coronavirus pandemic as "chaotic" on a call, a source said. Colette Luke has more. Former President Barack Obama described President Donald Trump's handling of the coronavirus pandemic as "chaotic" in a conference call with former members of his administration, a source said on Saturday. Markets Home U. World Home U. Breakingviews Home Breakingviews Video.

Gold prices fall today, analysts suggest to stay away from yellow metal; silver rates edge higher

Seeing this fall in the yellow metal, analysts suggest to stay away from the markets as it might fall further in coming days. The yellow metal fell along with other precious metals, as investors sold across assets to hoard cash after additional stimulus measures by the United States failed to calm markets hit by mounting fears over the economic downside from the coronavirus, says Jigar Trivedi. Another gold analyst advised to wait to buy gold. In the current scenario of high volatility, do not buy yellow metal, says Anuj Gupta, Deputy vice president — Research, Angel Broking Ltd adding that the gold market is now turning in the bear zone. A total of cases have been recorded so far in the country,comprising Indians, and 25 foreigners. On the domestic equity front, the headline indices trimmed some of the morning losses, but still trading down. Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram.