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By Eric Lam and Ranjeetha Pakiam One-day swings of 31 per cent. A slump amid a jump in U.S. inflation. Ever more critical regulatory scrutiny. Bitcoin delivered all of these in the past few days, undermining its claimed role as a portfolio hedge rivaling gold. While true believers still tout Bitcoin’s merits as a store of value akin to digital bullion, recent events show how controversial that view is. The largest token has shed 40 per cent after hitting a mid-April record, and its volatility compared with the precious metal jumped during this week’s cryptocurrency rout. “For all of 202...

ChinaAsia Gold Price rebound, COVID-19 curbs put brakes on India buying Brijesh PatelRajendra Jadhav 3 minute read Physical gold demand in India stalled this week after local prices rebounded from a one-year trough and coronavirus restrictions were imposed, while buyers in other major Asian hubs were also put off by an uptick in prices. "This week gold prices rose in the international market and rupee also fell. That led to a big jump in local prices, which consumers are struggling to digest," said Mukesh Kothari, director at Mumbai bullion dealer RiddiSiddhi Bullions. On Friday, local gold f...

Physical gold in India swings to discount as pandemic stalls demand SECTIONS Last Updated: May 01, 2021, 12:59 PM IST Share Synopsis "Almost every state government has put some kind of COVID-19 restrictions... jewellery stores are either closed or witnessing negligible footfalls," said a Mumbai-based dealer with a bullion importing bank. ETRetail Dealers were offering a discount of up to $2 an ounce this week over official domestic prices, inclusive of 10.75% import and 3% sales levies, from last week's premium of $2. Physical gold in India was sold at a discount this week for the first time...

3 minute read A saleswoman displays a gold necklace to a customer inside a jewellery showroom in Mumbai, India April 18, 2018. REUTERS/Francis Mascarenhas Physical gold in India was sold at a discount this week for the first time in 2021 as a spike in coronavirus cases prompted strict restrictions and kept buyers away. Several Indian states have run out of coronavirus vaccines as new infections surged to another daily record. read more "Almost every state government has put some kind of COVID-19 restrictions... jewellery stores are either closed or witnessing negligible footfalls," said a Mu...

Gold Heads for Third Weekly Gain as Investors Weigh Demand, Jobs Bloomberg 3 hrs ago Ranjeetha Pakiam (Bloomberg) -- Gold headed for a third straight weekly gain as investors assessed signs of a recovery in physical demand with optimism over the U.S. labor market. Gold shipments from Switzerland to India and China rose last month, indicating renewed buying by the top consumers after a year on the sidelines. Meanwhile, applications for U.S. state unemployment insurance unexpectedly plunged to a fresh pandemic low, signaling that the job market is strengthening, which weighed ...