Today: Gold, Silver Prices in India
Silver zooms, gold declines
Mumbai, Jan 6 (UNI) Speculative demand today saw Silver zoom by Rs 310 to settle at Rs 28,285 per kg, while Gold declined by Rs 55 to Rs 16,805 per ten gm on sluggish demand from industrial users, traders at the Bombay Bullion Association (BBA) said.
The white metal has surged by Rs 900 in the last three days.
Silver opened at Rs 28,300 per kg, soaring by Rs 325 against its overnight close. At the end of the day, it stood at Rs 28,285 per kg with a gain of Rs 310.
Standard gold and Pure gold resumed down by Rs 25 per ten gm each. Later, this gap widened and Standard gold and Pure gold settled at Rs 16,805 and Rs 16,885, declining by Rs 55 and Rs 60 per ten gm respectively, traders added.
In London and Asian markets, Gold was quoted low at USD 1123.00/1123.02 per troy ounce and Silver was up a USD 17.90/17.92 per troy ounce from their previous close, traders said. Read more
Adds 3% in Euros Following India-IMF News, Gold Leaps to New Dollar Highs
From Chris Mullen at GoldSeek.com…
Gold jumped near a new record high late Monday night, reaching as high as $1065.92 in early Asian trade after it was announced that India bought 200 metric tonnes of metal from the International Monetary Fund, and then surging again in New York trade to make new all-time highs at $1085.95.
For the session, the Gold Price in Dollars ended with a gain of 2.9%. The Euro price of Gold leapt to €739 an ounce, up more than 3% on the day.
Oil rose in late trade as the US Dollar index reversed notable early gains and ended only slightly higher after decent economic data – showing a sharper than expected rise in US factory orders – plus Warren Buffett’s decision to buy Burlington Northern in what he described as a “bet on the country” eased banking fears. Read more
Today: Silver and Gold Prices in India
Precious metals continue to decline
Mumbai, Aug 11 (UNI) Both the precious metals continued their downward trend today, as Gold further declined by Rs 60 at Rs 14,810 per ten gm and Silver eased marginally by Rs five at Rs 23,445 per kg on lack of buying enquiries from stockists, traders at the Bombay Bullion Association said.
The yellow metal has slumped by Rs 160 and the white metal by Rs 150 in the last three sessions. Read more
Today: Silver and Gold Prices in India
Precious metals continue to decline
Mumbai, Aug 11 (UNI) Both the precious metals continued their downward trend today, as Gold further declined by Rs 60 at Rs 14,810 per ten gm and Silver eased marginally by Rs five at Rs 23,445 per kg on lack of buying enquiries from stockists, traders at the Bombay Bullion Association said. India’s gold consumption is expected to increase 11% in 2005, because of the lower gold prices and an increase in promotion activities by India Gold Jewelry manufacturers, a senior bullion trader in India told Dow Jones Newswires.
The yellow metal has slumped by Rs 160 and the white metal by Rs 150 in the last three sessions. Read more
Gold and Silver: International Forecaster 2009
This past January, before the new president was inaugurated, in commemoration of the 30th anniversary of the establishment of diplomatic relations between the US and China, a conference was held by the Chinese People’s Institute of Foreign Affairs and the Kissinger Institute on China. Former President Jimmy Carter, Henry Kissinger, Brent Snowcroft and Zbigniew Brzezinski led the US delegation.
Mr. Brzezinski proposed at that conference that a US-China G-2 be formed. He stated a long list of international problems that China could help the US find solutions for, such as the global financial crisis, climate change, North Korean and Iranian nuclear ambitions, tension in India and Pakistan and the Israeli-Palestinian conflict.
Behind Zbig’s proposals are his perpetual efforts to act to the disadvantage of Russia, so that a western power base can be built in Eastern Europe and down into the Middle East and over into West Asia. This is really what Iraq and Afghanistan are all about. He cited China’s rapid growth of the past 20 years and reminded China that it would have taken years longer without the expansion of US-China trade relations. He said there should be interdependence, yet relations still were those of unending US provocation and hostility.
On the other hand Larry Summers, Mr. Obama’s top economic advisor and director of the White House National Economic Council, has proposed a multilateral approach to deal with multilateral global economic problems that would involve a new grouping larger than the Group of Seven richest nations with advanced economies. This, of course, is in opposition to Brzezinski’s approach.
It looks like Summers has the upper hand at the moment, even though Brzezinski brought Mr. Obama to his present position. Read more
