Gold price today: Yellow metal gains as trade war tensions escalate

09-10-2019 16:35 PM

Gold prices rose in futures trade on October 9 as trade tensions between the US and China escalated prompting investors to seek shelter in safe-havens such as Gold or Silver.
The yellow metal's December futures traded at Rs 38480 per 10 gram, up Rs 97 or 0.25 percent on the MCX around 1100 hours IST.
Gold and Silver prices bounced back from the lows after downbeat US PPI Data, Brexit fear, and a selloff in global equities. Ahead of US-China trade talks, US blacklisted 28 Chinese entities that prompted safe-haven buying.

“Trade tension between the US and China escalated which supports gold prices and it crossed $1500 per troy ounce, silver prices also sustain above $17.40 per troy ounce,” Manoj Kumar Jain, Director at IndiaNivesh Commodities, told Moneycontrol.
“Gold prices at MCX closed above Rs 38,300 and silver prices closed above 45800 levels. We expect gold and silver prices remain firm and any dip in the prices will be an opportunity to buy again,” he said.
Jain further added that Gold can buy around Rs 38,250 with a stop loss of Rs 38,050 for a target of Rs 38,600. Silver can be bought around Rs 45,500 with a stop loss of Rs 45,200, and a target of Rs 46,100.

Courtesy: Moneycontrol.com

LVMH Jewelry and Watch revenue jumps

11-10-2019 12:25 PM

LVMH Moët Hennessy Louis Vuitton saw a rise in jewelry and watch sales in the third quarter, led by a strong performance at its Bulgari brand, it said Wednesday. Revenue for the category increased 8% to EUR...

Antwerp bans Lab-Grown from trading floors

11-10-2019 12:20 PM

The Federation of Belgian Diamond Bourses has introduced a ban on lab-grown sales in Antwerp’s four trading halls. While synthetics trading is still rare in Antwerp, the umbrella group took action last mont...

Online jeweller Melorra gets $12 million from Lightbox, others

11-10-2019 12:15 PM

Online jewellery brand Melorra announced that it has raised $12 million in capital from VC Lightbox, BlackSoil Capital and a few family offices. The company stated that the family offices include Ravi Sheth, G...

Government's new gold policy to be out in 15-20 days: sources

11-10-2019 12:10 PM

The much-awaited new gold policy of the government will be out in 15-20 days, a senior finance ministry official said on Thursday. The creation of a spot market for gold and the use of gold as a financial asse...

India's exports of gems, jewellery fall 6.2% in September

11-10-2019 12:5 PM

India’s gems and jewellery exports fell 6.2% in September from a year ago to $3.3 billion as shipments of cut and polished diamonds slumped, a leading trade body said on Thursday. The country’s cut and poli...

Gold inches lower as Trump's remarks boost trade talk hopes

11-10-2019 12:0 PM

Gold prices edged lower on Friday as U.S. President Donald Trump’s remarks on progress in Sino-U.S. trade talks lifted risk appetite, while palladium was set to end a three-day winning streak after touching a...