National News
Gold prices in India witness massive jump; XAU/USD hangs close to record highs above $3,200
Gold prices in India witnessed a massive jump for the second consecutive day, continuing their bullish streak. MCX gold prices stood at ₹92,050 per 10 grams on April 11 at 8:15 am, up ₹17, or 0.02 per cent and MCX silver prices rose 0.1 per cent or ₹94 to ₹91.689 per kg, according to data on the multi-commodity exchange (MCX).Further, 24-carat gold was priced at ₹92,170 per 10 grams, according to data on the Indian Bullion Association (IBA) and 22-carat gold was priced at ₹84,489 per 10 grams. Silver was priced at ₹92,030 per kg (Silver 999 Fine) at 8:15 am on April 10, according to the IBA website.
XAU/USD hangs close to record highs above $3,200.Gold price flirts with record highs near $3,220 in early Europe on Friday. Deepening US-China trade war and US economic concerns underpin the Gold price. Gold price looks to the US PPI inflation data and tariff talks for further cues. US Gold price (XAU/USD) keeps its range close to fresh all-time highs near $3,220 in early Europe on Friday. The US Dollar (USD) downward spiral and escalating trade war between the United States (US) and China continue to underpin the safe-haven appeal of Gold price.
National News
Global and Domestic Precious Metals Trading Under Pressure
The Primary Catalyst Driving This Downturn Is The Surging Cost Of Crude Oil, Which Is Escalating Energy Crisis Fears.
Global and domestic precious metals are trading under pressure as renewed upside momentum in crude oil prices keeps broader inflationary risks elevated.
MCX gold touched an intraday low of Rs 1,44,467 per 10 grams and is down by 1%. Meanwhile, MCX silver price crashed sharply by over 2% to hit an intraday low of Rs 2,044,460 per 1Kg
In international spot markets, gold is down 1.0% and struggling to hold $4,112 per ounce, while spot silver experienced a sharp sell-off of 2.2%, trading around $56.60 per ounce.
The primary catalyst driving this downturn is the surging cost of crude oil, which is escalating energy crisis fears. High energy costs reinforce sticky inflation, prompting expectations that global central banks will maintain restrictive monetary stances for longer.
Because holding non-yielding metals becomes more expensive when interest rates remain elevated, both gold and silver are seeing selling pressure, with silver facing additional headwinds due to concerns surrounding industrial demand.
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National News48 minutes agoGlobal and Domestic Precious Metals Trading Under Pressure
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