Bullion Market

During 2018, gold prices were largely influenced by the direction of the dollar, says World Gold CouncilHowever, interest rate changes, in conjunction with market uncertainty, have once again taken the front seat

Gems and jewellery exports dipped by 6.3% to $28.5 billion during the 11 months of FY19 India's CAD widened to 2.9% in Q2 FY19, against 1.1% in a year ago, mainly due to a widening trade deficit

Spot gold was up about 0.3% at $1,296.52 per ounce as of 0124 GMTGold demand in India improved this week due to a fall in local prices

In global markets, gold was little changed today as investors awaited clarity on the ongoing US-China trade talksAnalysts expect gold prices to be range-bound around $1,305-$1,315 levels until the trade talks are over

Gold traded lower at 1,312.20 an ounce and silver stood at $15.83 an ounce in New YorkSilver coins traded at the previous level of ₹80,000 for buying and ₹81,000 for selling of 100 pieces

In global markets, spot gold prices rose close to $1,245 per ounce while in Indian markets, gold prices crossed ₹32,000 level.

Gold prices have fallen on account of two major factors jump in the exchange rate of rupee against US dollar and muted demand for gold jewellers despite wedding season.

US President Donald Trump is likely to announce new tariffs on about $200 billion on Chinese imports today

Gold is highly sensitive to rising US interest rates as it increases the opportunity cost of holding non-yielding metal while boosting the dollar

Gold has tumbled 14 % from its April high as a rally in the greenback made dollar-priced bullion more expensive for buyers with other currencies