by Vasu Jit Kalia | August 1, 2024 | Commodities, Markets
As per the reports of The World Gold Council’s Q2 2024 the demand for the gold is at its all-time high since 2000. This surge is fueled by central bank purchases and OTC investments, with central bank gold buying up by 6% and technology sector demand rising by 11%....
by Vasu Jit Kalia | July 24, 2024 | Commodities, Markets
In the recently presented Indian Union Budget 2024 Indian Finance Minister Nirmala Sitharaman had cut customs duty to 6% on Gold and Silver and the duty on platinum was reduced to 6.4 %. Elaborating further on this the Indian Finance Minister Nirmala Sitharaman in her...
by Vasu Jit Kalia | July 19, 2024 | Commodities
The prices of the yellow metal in Dubai jumped to a record high on July 17, 2024 evening, crossing Dh300 per gram. As per the data of The Dubai Jewellery Group 24K was selling for Dh300.50 per gram late in the evening. Whereas 22K, 21K and 18K were selling for...
by Jibran Munaf | July 17, 2024 | Commodities, Market Commentary, News
Gold hit another record as traders placed stronger bets on Federal Reserve rate cuts this year and weighed an uncertain outlook for US politics. Bullion advanced in Asia hours to touch an all-time high of $2,475.81 an ounce on Tuesday, following a 1.9% jump in the...
by Jibran Munaf | July 17, 2024 | Commodities, Derivatives, News
Oil prices eased on Wednesday, with global benchmark Brent hovering near a one-month low hit in the prior session on signs of weakening demand in China. However, losses were capped by declining U.S. oil stockpiles. Brent crude oil futures fell 15 cents, or 0.2%, to...
by Vasu Jit Kalia | July 16, 2024 | Commodities
The value of gold reserves of the Central Bank of the UAE (CBUAE) reached AED20.36 billion by the end of April 2024, marking a year-on-year (YoY) growth of around 12 percent from AED18.147 billion in April 2023. The apex bank, in its latest figures released today,...