Live Breaking News & Updates on Goldsilver central

Stay informed with the latest breaking news from Goldsilver central on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in Goldsilver central and stay connected to the pulse of your community

Asia Gold India market still muted, China flips to discount

3 minute read
Seller waits for customers at a jewellery showroom during Dhanteras, a Hindu festival associated with Lakshmi, the goddess of wealth, amidst the spread of COVID-19 in Mumbai, India, November 13, 2020. REUTERS/Niharika Kulkarni/Files
Indian gold dealers offered the biggest discounts in 8-1/2 months this week as COVID-19-related restrictions stifled consumption, while top consumer China flipped to a discount for the first time since late January.
India's official tally of coronavirus infections crossed 28 million, with more than 2,500 daily deaths. read more
"Bullion dealers offered hefty discounts since prices are correcting overseas and demand is weak in the local market," said a Mumbai-based bullion dealer with a gold-importing bank.

India , Guangzhou , Guangdong , China , Mumbai , Maharashtra , Singapore , Chinese , Thomson-reuters-trust-principles , Greater-china , Goldsilver-central

Indian gold market still muted, China flips to huge discount

Indian gold market still muted, China flips to huge discount
an hour ago
A woman tries on a gold bracelet at a jewellery showroom in Siliguri. File/ Reuters
Indian gold dealers offered the biggest discounts in 8-1/2 months this week as COVID-19-related restrictions stifled consumption, while top consumer China flipped to a discount for the first time since late January.
India’s official tally of coronavirus infections crossed 28 million, with more than 2,500 daily deaths.
“Bullion dealers offered hefty discounts since prices are correcting overseas and demand is weak in the local market,” said a Mumbai-based bullion dealer with a gold-importing bank.

India , Guangzhou , Guangdong , China , Shanghai , Mumbai , Maharashtra , Singapore , Siliguri , West-bengal , Zurich , Züsz

Asia Gold Indian jewellers stay shut as lockdowns stifle demand

Physical gold demand in second-biggest bullion consumer India was negligible this week with most jewellery stores still shut by COVID-19 lockdowns, forcing dealers to offer steep discounts.

Japan , Bangladesh , Mumbai , Maharashtra , India , Hong-kong , Singapore , Beijing , China , Switzerland , Japanese , Chinese

Indian jewellers stay shut as lockdowns stifle gold demand

Indian jewellers stay shut as lockdowns stifle gold demand
5 hours ago
A saleswoman displays a gold necklace inside a jewellery showroom in Kolkata. File/Reuters
Physical gold demand in second-biggest bullion consumer India was negligible this week with most jewellery stores still shut by COVID-19 lockdowns, forcing dealers to offer steep discounts.
“Lockdowns are badly hitting the industry. Jewellers have stopped buying since retail demand is almost zero,” said Ashok Jain, proprietor of Mumbai-based gold wholesaler Chenaji Narsinghji.
Most states have imposed curbs as infections crossed 27 million, with over 3,000 people dying every day.
Dealers offered discounts of up to $10 an ounce, the highest since mid-September 2020, over official domestic prices - inclusive of 10.75% import and 3% sales levies - unchanged from last week.

Japan , Bangladesh , Milan , Lombardia , Italy , Mumbai , Maharashtra , India , Hong-kong , Singapore , Beijing , China

bitcoin: Did you say Bitcoin is better than gold? Eat crow now

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 2020 and pretty much up until April, Bitcoin has been the best performing asset, so it wasn’t hard to say it was an inflationary hedge given all the stimulus that keeps getting pumped into the global economy,” said Edward Moya, senior market analyst with Oanda Corp. “This week’s crypto plunge and rebound was a wake-up call. Bitcoin will still act like a leveraged risk-on trade and not a proper inflation hedge.”

China , Sydney , New-south-wales , Australia , Singapore , Chinese , Elon-musk , Ranjeetha-pakiam , Edward-moya , David-lightfoot , Bloomberg , Oanda-corp

Gold heads for best week in five months on softer dollar, yields

By Brijesh Patel
(Reuters) - Gold prices on Friday hovered near a 2-1/2-month high and were on track for their best week in five months, aided by a weaker dollar and a pullback in Treasury yields as investors cautiously await U.S. non-farm payrolls report due later in the day.
Spot gold was steady at $1,815.88 per ounce by 0246 GMT, after hitting its highest since Feb. 16 at $1,817.90 in the previous session. Bullion up more than 2.5% so far this week.
U.S. gold futures were little changed at $1,816.40.
"The weaker dollar and U.S. Treasury yields dropping below 1.6% has helped gold prices to go above $1,800," Brian Lan, managing director at dealer GoldSilver Central said.

Bengaluru , Karnataka , India , Brijesh-patel , Sherry-jacob-phillips , Loretta-mester , Cleveland-fed-bank , Federal-reserve , Reuters , Goldsilver-central , Cleveland-fed-bank-president-loretta-mester , பெங்களூரு

Gold heads for best week in 6 months on softer dollar, yields

This advertisement has not loaded yet, but your article continues below.
In-depth reporting on the innovation economy from The Logic, brought to you in partnership with the Financial Post.
Financial Post Top Stories
Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.
Email Address
There was an error, please provide a valid email address.
By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Federal-reserve , Reuters , Goldsilver-central , கூட்டாட்சியின்-இருப்பு , ராய்ட்டர்ஸ் ,

Gold set for best week in six months on softer dollar, Treasury yields

updated: May 07 2021, 12:14 ist
Gold prices rose to a 2.5-month high on Friday and were on track for their best week in six months, boosted by a weaker dollar and a pullback in Treasury yields as investors cautiously await US non-farm payrolls report due later in the day.
Spot gold was up 0.3 per cent at $1,820.35 per ounce by 1054 IST, after hitting its highest since Feb. 16 earlier in the session. Bullion up nearly 3 per cent so far this week.
US gold futures rose 0.3 per cent to $1,820.70.
"The weaker dollar and US Treasury yields dropping below 1.6 per cent has helped gold prices to go above $1,800," Brian Lan, managing director at dealer GoldSilver Central said.

Loretta-mester , Wang-tao , Cleveland-fed-bank , Federal-reserve , Reuters , Goldsilver-central , Cleveland-fed-bank-president-loretta-mester , லோரெட்டா-மேஸ்டேர் , வாங்-தாவோ , கிளீவ்லேண்ட்-ஊட்டி-வங்கி , கூட்டாட்சியின்-இருப்பு , ராய்ட்டர்ஸ்

Gold Heads for Third Weekly Gain as Investors Weigh Demand, Jobs

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 on demand for haven assets.
Traders were also mulling a proposal for higher taxes on the wealthy to help pay for President Joe Biden’s social plan. U.S. stocks had their biggest slide in five weeks on Thursday as Bloomberg News reported the Biden administration is considering almost doubling the capital gains tax rate to 39.6% for those earning $1 million or more a year.

China , India , Switzerland , Singapore , Christine-lagarde , Joe-biden , European-central-bank , President-joe-biden , Bloomberg-news , Bloomberg-gold , Central-bank-president-christine-lagarde , Brian-lan

Gold records best week since December last year

Gold records best week since December last year
Bloomberg
Gold posted its best week since December last year amid a retreat in bond yields and a report that top buyer China might import more of the metal.
After weeks trading in a narrow range, gold has advanced as US Treasury yields and the US dollar posted weekly losses. Lower yields boost the appeal of bullion, which does not offer interest. US dollar declines helped spur a broad rally in raw materials, with the Bloomberg Commodity Index also posting its best week of this year.
Bullion is showing tentative signs of breaking out of a slump following three straight monthly losses. Prices rose above the 50-day moving average on Thursday, a positive signal for traders who follow chart patterns.

New-york , United-states , China , Chinese , Jerome-powell , Tom-dobbins , Ole-hansen , Daniel-briesemann , Bloomberg , Aluminum-association , Saxo-bank , Reuters