Tag: Gold PRice

Gold prices on Thursday rose Rs 183 to Rs 40,766 per 10 grams on positive global cues and rupee depreciation.

For gold, no news is good news! The yellow metal not only maintained status quo but resisted all attempts to push it lower as it came back to within a whisker of the $1,560 per ounce mark. It held firm even as news about lower gold demand and output of gold emanated from China.

Normally, all markets (gold, stock markets and others) rise/fall in anticipation of an event. However, after the event takes place the markets actually go in the opposite direction. In anticipation of the US-China first phase deal, the precious metals were under pressure and declined even as geopolitical tensions dissipated

Indian stocks dropped today between volatile trade, tracing vulnerable global markets. The Sensex closed 126 points below at 40,675 while Nifty ended at 11,994, down 0.45%. Banking, auto, metal, and pharma stocks began the drop today. Yes Bank shares fell 7% while Tata Steel fell 5% and Vedanta dipped by 3%.