Gold prices have risen nearly 16% this year, and by around $ 100 an ounce this week, as investors turned to the precious metal seen as a safe haven amid the bruising US-China trade and currency war.
As the week opened, PBOC of China fixed Yuan at 6.97% against the dollar and Trump and US Fed commented that the China is acting as a currency manipulator.
As, mentioned previously that whatever Trump has done against China in its history is the worst trade war of this decade.
And big time sufferers are US companies and global economies as they are on the verge of recession.
The dimming global economic outlook, fuelled by heightening trade tensions between the U.S. and China are boosting gold’s appeal as a hedge against financial turmoil.
Gold is likely to show higher volatility and now over all range is expected to be $1500-$1550.
Experts suggest that Gold and Silver prices are likely to remain volatile ahead of the outcome of the US Fed meeting and the likely range could be 37,800-38,200.
Gold prices retreated from highs to slip below Rs 38,000 per 10 gm in the futures trade on September 18 ahead of the outcome of US Federal Reserve’s two-day meeting, where policymakers are expected to cut interest rates.
Around 0910 hours, MCX Gold traded at Rs 37,918 per 10 grams, down Rs 98, or 0.26 percent.
Gold traded steady in the international market on September 17 as spot Gold held on to $1500 levels, but the domestic market showed volatility due to a weak Rupee.
Gold retested Rs 37,861 in early trade on September 16 but held on to the crucial support of 37,800 and move upward towards 38,179.
“Net Gold prices are expected to move in a broader range of Rs 37,800-38,200 while Silver remains firm and show some up move in today’s session,” he said.
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Gold has powered ahead this year, hitting a six-year high above $1,500 an ounce.
Gold is expected to strengthen further as global trade tensions, slowing economic growth and investors seeking alternatives to risk assets including equities boost demand.
Gold slipped as much as 0.4% earlier in the session after a near 1% drop On Thursday, as positive developments around the Sino-U.S. trade negotiations rekindled investor appetite for riskier assets.
Initially it looked as if Gold’s rally cooled this week as Beijing and China made conciliatory noises around trade, though investors still appeared nervous over the prospect for a further escalation of the battle.
The Dollar rose broadly Thursday amid renewed hopes that the U.S. and China will return to the negotiating table but the apparent price of de-escalation in the trade war could yet prove too steep for President Donald Trump, so markets may ultimately have set themselves up for disappointment.
China’s Ministry of Commerce said in a press conference that its officials have in fact been in contact with their U.S. counterparts and that a delegation will go to Washington next month to discuss the trade conflict between the world’s two largest economies, in an apparent contradiction of the official line from earlier this week.
Gold Market, Business News (Liberal Tribune): Gold prices raised over 1% on Wednesday, driven by tough safe haven sentiment as desires of a quick end to the China-U.S exchange row washed out and a new deal front in Europe deepened worries over tepid economic progress.
Spot gold was high 0.7% at $1,427.64 per degree at 0438 GMT, after previously moving a one-week up of $1,435.99, Gold Market globally.
Gold market: Global trade in focal point:
U.S. gold prospects were up 1.6% to $1,430.80 per ounce.
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History shows that investment diamonds have been steadily rising for decades, and the return on investment in developed market economy countries has always surpassed inflation.
Of course, this is not an extremely liquid security, but you can't compare a diamond to a property in a specific location, which is extremely hard to sell.
Diamond trading takes place globally, investment diamonds certified by independent and recognized gemmological laboratories will be recognized everywhere in the world.
History shows that the prices of individual groups of these stones in highly developed countries rose steadily above inflation in the boom periods, while prices in the boom periods were rising, reflecting the flow of capital from conventional investment tools to alternative methods.
Of course, there are standardised diamonds price reports around the world, such as the most important of them is the Rapaport Diamond Report, but the trade in diamonds is only physical.
It is a strictly regulated market.
