Gold Dealer J Rotbart: New Singapore Office a «Needed Step» finews.asia - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from finews.asia Daily Mail and Mail on Sunday newspapers.
Physical gold demand in India this week surged as local prices dropped to their lowest levels since June last year, with buying expected to pick up in other Asian centres after the Chinese Lunar New Year holiday week.
Read more about Gold price drop boosts India buying, lifts premiums to eight-month high on Business Standard. On Friday, local gold futures fell to 45,861 rupees per 10 grams, the lowest level since June 2020
Price drop boosts India buying, lifts premiums to eight-month high yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
Gold will continue to rise in the Year of the Ox albeit at a slower pace than the previous two years, aided by low-interest rates, inflationary concerns and the Covid-19 pandemic, according to analysts. The price of bullion in Hong Kong rose 18 per cent in the Year of the Rat to close at HK$17,050 (US$2,200) per tael (37.8 gram) on Thursday, the last trading day before the Lunar New Year holiday. "The Year of the Ox is likely to see gold prices rising between 15 and 20 per cent to break through HK$20,000 per tael," said Haywood Cheung Tak-hay, president of the Chinese Gold and Silver Exchange Society. Get the latest insights and analysis from our Global Impact newsletter on the big stories originating in China. He said that with the US likely to keep interest rates at near zero for some time and other central banks adopting monetary easing policies to boost the post-pandemic economic recovery, liquidity will inevitably find its way into gold, Cheung said. The Year of