Gold prices Archives - Republic Aeon https://republicaeon.com/tag/gold-prices/ Know Your World! Thu, 21 Sep 2023 06:49:30 +0000 en-US hourly 1 https://wordpress.org/?v=7.1 https://republicaeon.com/wp-content/uploads/2022/11/cropped-RA_LIGHT_FINAL-removebg-preview-32x32.png Gold prices Archives - Republic Aeon https://republicaeon.com/tag/gold-prices/ 32 32 Swiss gold exports up in August due to higher shipments to India https://republicaeon.com/swiss-gold-exports-up-in-august-due-to-higher-shipments-to-india/ Tue, 19 Sep 2023 17:25:42 +0000 https://republicaeon.com/?p=24018 Swiss gold exports increased by 7.3% in August compared to July, as greater supply to India and China offset reduced supplies to Turkey, according to customs figures released on Tuesday. Switzerland is the world’s largest refining and transportation hub, while China and India are the world’s largest consumer markets, with local demand sensitive to high prices […]

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]]> Swiss gold exports increased by 7.3% in August compared to July, as greater supply to India and China offset reduced supplies to Turkey, according to customs figures released on Tuesday.

Switzerland is the world’s largest refining and transportation hub, while China and India are the world’s largest consumer markets, with local demand sensitive to high prices and the time of year.

According to the data, shipments to India, where jewelers often make purchases for the October-November festival season, nearly tripled to their highest level since May, while shipments to China increased by 1%.

Swiss gold exports up in August due to higher shipments to India

Physical gold premiums in China reached a record high last week, owing to robust demand to support the yuan’s depreciation and a lack of new import limitations.

So far in September, gold prices are down 0.3% due to a strong dollar, which makes the precious metal more expensive for holders of other currencies.

SWISS TOTAL GOLD EXPORTS (in kgs)*

EXPORT

August 2023 123,477

July 2023 115,109

August 2022 121,662

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EXPORTS TO KEY MARKETS (in kgs)

To China To Hong Kong To India To Turkey

August 2023 25,378 1,409 26,328 14,895

July 2023 25,045 42 9,336 35,274

August 2022 37,807 1,034 19,559 23,695

* Source: Swiss customs. Data subject to revision by source.

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]]> Gold, silver prices hold steady as investors await US Fed move on rates https://republicaeon.com/gold-silver-prices-hold-steady-as-investors-await-us-fed-move-on-rates/ Wed, 26 Jul 2023 12:01:37 +0000 https://republicaeon.com/?p=19319 Gold and silver prices are maintaining modest gains on global markets as investors anticipate the crucial rate-setting meeting of the United States Federal Reserve (Fed) later on July 26. The Federal Open Market Committee (FOMC) statement and press conference of Fed Chairman Jerome Powell will be the centre of attention. China’s gold production increased by […]

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]]> Gold and silver prices are maintaining modest gains on global markets as investors anticipate the crucial rate-setting meeting of the United States Federal Reserve (Fed) later on July 26. The Federal Open Market Committee (FOMC) statement and press conference of Fed Chairman Jerome Powell will be the centre of attention.

China’s gold production increased by 2.24 percent year-over-year in the first half of 2023, totaling 178.6 tonnes. Moreover, gold imports have increased by 17.5 percent year-over-year to reach 65 tonnes. In the same time frame, the amount of gold consumed increased by 16.37 percent, amounting to 554.88 tonnes.24KT gold: Rs 5,954 per gram.

22KT gold: Rs 5,508 per gram

Silver: Rs 74,900 per kilogram

Gold, silver prices hold steady as investors await US Fed move on rates

Delhi

22KT gold: Rs 5,599 per gram

20KT gold: Rs 5,130 per gram

Silver: Rs 76,000 per kilogram

Ahmedabad

24KT gold: Rs 6,130 per gram

22KT gold: Rs 5,615 per gram

Mumbai

24KT gold: Rs 6,016 per gram

22KT gold: Rs 5,515 per gram

Silver: Rs 78,000 per kilogram

300*250  

According to HDFC Securities, gold prices decreased by Rs 150 to Rs 60,200 per 10 grammes in the nation’s capital on July 25 due to a global decline in the yellow metal’s value. In the preceding trade, 10 grammes of the precious metal had settled at Rs 60,350.

“Comex gold fluctuated within a narrow range as traders awaited the results of Federal Reserve and European Central Bank policy meetings.” In the meantime, the dollar index traded near a two-week high, which weighed on precious metals because a stronger dollar makes bullion more costly for buyers holding other currencies, as stated by Saumil Gandhi, Senior Analyst – Commodities at HDFC Securities.

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