#comex gold price

[vainimaginations]

The Benefits of Opening a Gold IRA Account

Why Open a Gold IRA Account

There are four different precious metals which are typically bought as an investment: silver palladium, gold and platinum. Silver is another sound investment however with a spot price of about $20 an ounce, a well off investor would need to purchase a few hundred pounds to accomplish an objective of 20% in their portfolio. The price of putting away that a lot silver would take a lot of the investor's retirement fund so while silver is very steady, it isn't extremely useful. Palladium is worth substantially more than silver yet its spot price vacillates fiercely and it routinely decreases by up to $25 an ounce in a solitary day. Platinum is more intriguing than gold yet it's less steady that palladium and in some learn more cases it's spot price can really dip under the spot price of gold. Subsequently, gold is the most pragmatic of the multitude of precious metals to turn over into a gold IRA account. There are a few benefits to opening a gold IRA and knowing them is fundamental for any savvy investor.

Safe and Easy Tax Relief

Congress passed the taxpayer relief act in 1997, allowing the consideration of the four precious metals into an IRA. A precious metals IRA is something like a self-direct IRA with the exception of the investment can comprise of gold, silver platinum and palladium. Not all gold is allowed as a precious metals IRA investment so knowing what gold is allowed is indispensable. Gold bullion and 24 Karat bars can be included into a precious metals IRA. In any case, these bars must have a validation trademark from one of two different specialists: the New York Commercial Exchange (NYMEX) or the Product Exchange Consolidation (COMEX).

A Variety of Options

The IRS likewise allows specific 24 and 22 Karat gold coins to be included into an IRA. The American Bird, Canadian Maple Leaf and the Australian Philharmonic are the gold coins generally ordinarily included into a precious metals IRA. The gold must likewise be put away at an IRS endorsed safe and a stockpiling expense will be charged. Likewise the gold IRA account, similar to all self-direct IRAs, should have an overseer, for example, a bank or business firm. The overseer will likewise charge an expense so it's ideal to look around and think about prices and administrations.

Assurance against Inflation

In the year 2008, thousands of individuals lost as long as they can remember's saving basically for the time being on the grounds that they had all or a large portion of their cash invested in paper. That implies they had no actual resources and their value was all invested in stocks and bonds. These resources are generally not upheld by gold and they are subject with the impacts of inflation. In any event, when the other precious metals declined somewhat in esteem after the 2008 monetary breakdown, gold really increased in esteem. Gold in a real sense is the gold norm and previously devastated nations, for example, China and India are purchasing each ounce of gold that they can get.

[darkmaga-returns]

By Money Metals Exchange

In a recent Money Metals podcast episode, host Mike Maharrey sat down with renowned precious metals analyst David Morgan, the author of The Silver Manifesto and publisher of The Morgan Report. Their discussion touched on critical global financial issues, including the BRICS Summit, precious metals markets, and central bank digital currencies (CBDCs).

BRICS Summit: Hype vs. Reality

Morgan began by sharing his skepticism about the recent BRICS Summit in Kazan, Russia. He echoed Maharrey’s impression that, despite significant attention, the event yielded more rhetoric than actionable progress. Russian President Vladimir Putin’s display of a mock currency, Morgan humorously compared to the promotional currency he distributed at investment conferences, underscored the lack of substance behind some BRICS initiatives.

Morgan highlighted two major hurdles for BRICS countries: the dominance of global debt denominated in U.S. dollars and the lack of a unified, widely accepted alternative currency. He mentioned that real progress would require greater currency diversification among participating nations. Nonetheless, he acknowledged the potential impact of a BRICS-backed precious metals exchange modeled after the Shanghai Gold Exchange, emphasizing that this could disrupt traditional price discovery dominated by institutions like the LBMA and COMEX.

[news365timesindia]

[ad_1] By Anjali Sharma NEW YORK – Reserve Bank of India data released on Saturday showed that after growing geopolitical tensions and FII selling, India’s foreign exchange (forex) reserves dropped $10.746 billion to $690.43 billion for the week ended October 11. The forex had hit an all-time high of $704.885 billion at the end of September, data stated. The forex had dropped by $3.709 billion to $701.176 billion. It said that gold reserves decreased by $98 million to $65.658 billion during the week. Special Drawing Rights were down by $86 million to $18.339 billion. The country’s reserve position with the International Monetary Fund was down by $20 million to $4.333 billion. India’s forex reserves are projected to grow, it added. The strong forex will boost its economic growth trajectory by strengthening its position internationally, drawing in foreign investments, and promoting domestic trade and industry. According to industry experts, strengthened Forex and a strong monetary policy stance are creating confidence among trade and industry and attracting foreign investments after geopolitical vulnerabilities.. The share of gold in the country’s forex has also surged more than 209 per cent since 2018. The gold prices continued their strong upward momentum, with a sharp rise of Rs 500 in MCX, taking the price to Rs 77,600, supported by Comex gold surging above $2,710. In 2024, gold has delivered impressive returns of over 22 per cent, and on a Diwali-to-Diwali basis, returns have reached nearly 30 per cent. It makes gold one of the standout performers for the year. The price momentum remains strong, with a potential upside target of Rs 78,500 in the coming sessions, experts stated. The post India foreign exchange reserves drops $10.7B to $690.43B appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[news365times]

[ad_1] By Anjali Sharma NEW YORK – Reserve Bank of India data released on Saturday showed that after growing geopolitical tensions and FII selling, India’s foreign exchange (forex) reserves dropped $10.746 billion to $690.43 billion for the week ended October 11. The forex had hit an all-time high of $704.885 billion at the end of September, data stated. The forex had dropped by $3.709 billion to $701.176 billion. It said that gold reserves decreased by $98 million to $65.658 billion during the week. Special Drawing Rights were down by $86 million to $18.339 billion. The country’s reserve position with the International Monetary Fund was down by $20 million to $4.333 billion. India’s forex reserves are projected to grow, it added. The strong forex will boost its economic growth trajectory by strengthening its position internationally, drawing in foreign investments, and promoting domestic trade and industry. According to industry experts, strengthened Forex and a strong monetary policy stance are creating confidence among trade and industry and attracting foreign investments after geopolitical vulnerabilities.. The share of gold in the country’s forex has also surged more than 209 per cent since 2018. The gold prices continued their strong upward momentum, with a sharp rise of Rs 500 in MCX, taking the price to Rs 77,600, supported by Comex gold surging above $2,710. In 2024, gold has delivered impressive returns of over 22 per cent, and on a Diwali-to-Diwali basis, returns have reached nearly 30 per cent. It makes gold one of the standout performers for the year. The price momentum remains strong, with a potential upside target of Rs 78,500 in the coming sessions, experts stated. The post India foreign exchange reserves drops $10.7B to $690.43B appeared first on Global Governance News- Asia's First Bilingual News portal for Global News and Updates. [ad_2] Source link

[kuwaitgoldupdates]

Understanding Gold Rates in Kuwait: A Comprehensive Guide to Trends, Factors, and Investment Opportunities

Gold has always been a symbol of wealth and prosperity across the globe, and in Kuwait, it holds a special place as both a luxury and a safe investment. Whether it’s a family heirloom in the form of jewelry or an investment in gold bullion, understanding the fluctuations in gold rates is crucial for those looking to make informed decisions. In this blog, we will delve deep into the factors affecting gold prices in Kuwait, current trends, and how one can invest wisely in the Kuwaiti gold market.

1. Overview of Gold Rates in Kuwait

Gold rates in Kuwait are primarily influenced by global gold prices, which fluctuate due to a variety of economic factors. As a country within the Gulf Cooperation Council (GCC), Kuwait’s gold market is interconnected with international markets, meaning global trends often directly impact local prices.

Gold prices in Kuwait are quoted per gram, and different karat types such as 24K, 22K, 21K, and 18K are available. Typically, 24K is the purest form of gold, containing 99.99% gold content, whereas 22K contains 91.67% pure gold. The purity of gold impacts its price, making 24K gold more expensive than other types.

Current Gold Rate (as of October 2024):

24K Gold: KWD 18.00 per gram

22K Gold: KWD 16.50 per gram

21K Gold: KWD 15.75 per gram

18K Gold: KWD 13.50 per gram

The demand for gold remains high in Kuwait, not just for personal use but also for investment purposes. Many families in Kuwait purchase gold during weddings, religious festivals, or as a long-term investment to secure their wealth against inflation or currency devaluation.

2. Factors Influencing Gold Rates in Kuwait

To make informed decisions about buying or selling gold in Kuwait, it is essential to understand the various factors that affect its price. These factors include:

a) Global Gold Prices

Gold prices in Kuwait are heavily tied to international gold rates, which fluctuate based on global economic conditions. The London Bullion Market and COMEX (Commodity Exchange) in New York are two major markets that influence the price of gold worldwide. These markets reflect changes in demand and supply, affecting the price of gold in real time.

b) Currency Exchange Rates

Kuwait’s currency, the Kuwaiti Dinar (KWD), is pegged to a basket of major world currencies, with a strong correlation to the U.S. Dollar (USD). As gold prices are globally denominated in dollars, any fluctuation in the value of the USD impacts gold rates in Kuwait. A strong dollar tends to push gold prices down, whereas a weaker dollar generally results in higher gold prices.

c) Inflation

Gold is often seen as a hedge against inflation. When inflation rises, the value of currency declines, prompting investors to seek safe-haven assets like gold to protect their wealth. Kuwait is no different; during periods of economic uncertainty or inflationary pressures, the demand for gold increases, driving up prices.

d) Interest Rates

Global interest rates also influence gold prices. Typically, when interest rates rise, investors tend to move their funds towards interest-bearing assets such as bonds, leading to a decline in gold demand. Conversely, when interest rates are low, the opportunity cost of holding gold decreases, making it more attractive to investors.

e) Political and Economic Uncertainty

Gold is regarded as a safe-haven asset during times of political or economic instability. Geopolitical tensions in the Middle East, fluctuations in oil prices, or global financial crises often lead to an increase in gold demand, pushing its prices upward.

3. Investment Opportunities in Gold

Gold is not just a commodity for personal use in Kuwait; it also serves as an excellent investment vehicle. For those looking to diversify their portfolios, here are several ways to invest in gold:

a) Physical Gold

One of the most traditional methods of investing in gold is through the purchase of physical gold, such as jewelry, coins, or bullion. Many Kuwaitis prefer buying 22K or 24K gold jewelry as a long-term investment due to its high resale value. While jewelry carries additional costs such as making charges, bullion or coins are often seen as more straightforward investment options.

b) Gold ETFs (Exchange-Traded Funds)

Gold ETFs provide an opportunity for investors to gain exposure to the gold market without physically owning the metal. These are traded on stock exchanges and offer liquidity and ease of trading. Investors in Kuwait can buy gold ETFs through international brokerage accounts, allowing them to take advantage of global gold price movements.

c) Gold Savings Schemes

Several jewelers in Kuwait offer gold savings schemes that allow individuals to accumulate gold over time by making regular contributions. At the end of the scheme period, participants can buy gold at the prevailing rate, often receiving bonuses or discounts.

d) Gold Futures

For more experienced investors, trading in gold futures is an option. This involves entering into contracts to buy or sell gold at a predetermined price at a future date. Gold futures are highly speculative and come with increased risks, but they offer the potential for significant profits during volatile market conditions.

4. Best Time to Buy Gold in Kuwait

One of the most common questions investors and buyers ask is when is the best time to buy gold in Kuwait? There is no definitive answer, as gold prices fluctuate based on various factors. However, here are some tips for making a smart purchase:

Track Global Trends: Since gold prices in Kuwait are influenced by international markets, keeping an eye on global gold price trends can help you identify favorable buying opportunities.

Consider Seasonal Demand: Gold prices often rise during peak wedding seasons or religious festivals such as Ramadan, as demand increases. If you are looking to buy gold at lower prices, consider purchasing during the off-season.

Monitor USD/KWD Exchange Rate: A weaker U.S. dollar generally pushes gold prices up. Monitoring fluctuations in the exchange rate between the U.S. dollar and Kuwaiti dinar can help you time your purchase effectively.

5. Gold Market Trends in Kuwait

In recent years, Kuwait’s gold market has experienced a steady demand, driven by both local consumers and investors. The market has also seen increased interest in environmentally sustainable and ethically sourced gold, aligning with global trends. This shift is expected to continue as consumers become more conscious of the environmental and social impacts of their purchases.

Additionally, the rise of online gold trading platforms has made it easier for investors to buy and sell gold, providing more transparency and efficiency in pricing. These platforms offer real-time updates on gold rates and allow investors to make quick decisions without the need for physical transactions.

6. Conclusion: Is Gold a Good Investment in Kuwait?

Gold continues to be a valuable and sought-after investment in Kuwait, offering both security and potential for growth. Its ability to act as a hedge against inflation and economic uncertainty makes it an attractive option for investors. Whether you’re buying gold jewelry for personal use or looking to diversify your investment portfolio, understanding the factors that influence gold prices in kuwait is crucial to making informed decisions.

Kuwait’s strong economy, coupled with its status as a key player in the Gulf region, ensures that the gold market will remain vibrant. For those willing to take a long-term view, investing in gold can offer both financial stability and the potential for future appreciation.

As always, when investing in gold, it is essential to conduct thorough research, consult financial advisors if needed, and stay updated on the latest market trends to maximize your returns.

[shubham0399]

Sustainable Sourcing and Ethical Practices at Vintage Bullion DMCC

In a world where global markets are constantly evolving, metals remain the backbone of industries ranging from finance and electronics to construction and transportation. At Vintage Bullion DMCC, we specialize in trading a wide range of precious and base metals, catering to a diverse client base spanning across the globe. Our deep understanding of the metals markets, combined with our global reach, positions us as a leader in this space.

In this blog, we will explore the strategic advantages of trading precious and base metals with Vintage Bullion DMCC, including our approach to physical and non-physical trading, the role of our global network, and how we stay ahead of the curve in an increasingly competitive marketplace.

A Trusted Name in Precious Metals Trading

A Robust Physical Metals Trade Network

Precious metals such as gold, silver, and platinum have been symbols of wealth for centuries, and they continue to hold their value as reliable stores of wealth in today’s uncertain economic environment. At Vintage Bullion DMCC, we trade both LBMA (London Bullion Market Association) and non-LBMA grade bars, ensuring that our customers have access to a broad spectrum of high-quality options.

We pride ourselves on our extensive network of local and international partners, which enables us to source and deliver these metals to a wide variety of markets. Our established relationships with globally recognized refineries and trading institutions ensure that we are always able to meet the needs of our clients, no matter where they are located.

Global Logistics and Loco Delivery

One of the key differentiators for Vintage Bullion DMCC is our ability to provide seamless loco deliveries across the world. Thanks to our collaborations with leading secure transportation and logistical agencies, we can guarantee efficient and secure delivery of physical metals to most major cities globally.

Dubai, where we are strategically headquartered, acts as a significant hub for the global precious metals trade. Its proximity to Asia, Africa, and Europe allows us to serve clients with ease, shortening delivery times and ensuring that transactions happen smoothly. The city’s infrastructure, coupled with its regulatory framework for metals trading, positions Dubai as one of the top players in the global metals market, and Vintage Bullion DMCC is a key participant in this ecosystem.

Hedging and Non-Physical Trading Services

While physical trading forms the cornerstone of our business, non-physical trading plays an equally important role in our operations. We understand the dynamic nature of metals markets and how fluctuations in prices can impact investments. To help our clients mitigate risk, we offer advanced hedging services through our non-physical trading desk.

Hedging and Managing Currency Exposure

At Vintage Bullion DMCC, our non-physical trading desk serves as a tool to hedge the risks associated with the volatility in metals prices. Through this platform, our clients can manage their exposure to various risks, including currency fluctuations, which can greatly impact international transactions.

We are proud members of the Dubai Gold and Commodities Exchange (DGCX), which allows us to offer clients access to one of the world’s largest gold and commodities futures exchanges. In addition, our participation in other international markets, including the COMEX and OTC markets, ensures that our clients have access to a range of contracts and financial instruments to diversify their portfolios and manage risk effectively.

Strong Financial Partnerships

Trading metals on a global scale requires more than just market knowledge and a strong product offering—it requires robust financial support. At Vintage Bullion DMCC, we maintain close relationships with leading local and international banks, both commercial and investment banks. These partnerships are critical in facilitating our trade finance and currency trading requirements, enabling us to offer a comprehensive range of financial services to our clients.

From providing liquidity for large trades to offering specialized trade finance solutions, our banking partnerships help us meet the diverse needs of our clients, ensuring that their trading operations are always well-supported.

Base Metals: The Industrial Powerhouses

While precious metals may grab the headlines, base metals like copper, zinc, lead, and nickel are the driving forces behind many of the world’s most important industries. These metals are crucial for sectors such as construction, electronics, and manufacturing, and as emerging markets continue to develop, the demand for these base metals is only expected to grow.

Our Base Metals Trading Operations

At Vintage Bullion DMCC, we source and supply base metals across Asia and Europe, focusing on key markets where demand is highest. All of our base metals products are LME (London Metal Exchange) grade, ensuring that clients receive only the highest quality materials.

The physical trade of these base metals is conducted through LME-approved warehouses, a testament to our commitment to quality and compliance with global standards. Whether clients need copper for electrical wiring or zinc for galvanization, Vintage Bullion DMCC has the resources and infrastructure to meet those needs efficiently and reliably.

Why Location Matters: Dubai’s Strategic Role

One of the key reasons behind our success at Vintage Bullion DMCC is our strategic location in Dubai. The city has emerged as a leading hub for global trade, and its infrastructure is particularly conducive to metals trading. Dubai’s geographical location, positioned between the East and West, offers unparalleled access to major markets in Asia, Europe, and Africa. As a result, Vintage Bullion DMCC is able to serve clients on both sides of the globe, providing metals solutions to an expansive range of industries.

Moreover, Dubai’s regulatory framework for commodities trading, including metals, has made it one of the most trusted places to conduct business. The presence of the Dubai Multi Commodities Centre (DMCC), under which we are licensed, ensures a transparent, well-regulated trading environment that instills confidence in both local and international clients.

LME Certification and Quality Assurance

When it comes to trading metals, particularly base metals, quality is of utmost importance. The LME certification serves as a stamp of approval, ensuring that metals meet the highest global standards. At Vintage Bullion DMCC, we are committed to dealing only in LME-certified base metals, allowing our clients to trade with confidence, knowing they are receiving products of the highest quality.

This adherence to LME standards extends beyond the products themselves. We also follow strict compliance procedures to ensure that all of our operations meet international regulations and ethical standards. This approach not only protects our clients but also enhances our reputation as a responsible and reliable trading partner.

The Future of Metals Trading at Vintage Bullion DMCC

The global metals market is constantly evolving, shaped by economic trends, technological advancements, and geopolitical factors. At Vintage Bullion DMCC, we are always looking ahead, identifying new opportunities and challenges in the market. Our team of experts continuously analyzes market trends and adapts our strategies to ensure that we remain at the forefront of the industry.

In addition, we are committed to exploring sustainable and ethical sourcing options for the metals we trade. As environmental concerns take center stage on the global agenda, we recognize the importance of responsible sourcing and are dedicated to ensuring that our products are obtained in an ethical and sustainable manner.

Conclusion

At Vintage Bullion DMCC, our mission is to provide clients with a comprehensive suite of metals trading services that meet the highest standards of quality and reliability. Whether you're looking to invest in gold, secure base metals for industrial use, or hedge against market fluctuations, we have the expertise, resources, and global reach to meet your needs.

With a robust network of international partners, a strategic location in Dubai, and strong relationships with major financial institutions, we are uniquely positioned to offer a seamless trading experience to clients across the world. Our commitment to excellence and our forward-looking approach ensure that Vintage Bullion DMCC remains a leader in the global metals market for years to come.

For more information on how we can assist you in achieving your trading goals, please contact our team today.

[thejasgold]

GOLD SALE IN ANNA NAGAR

Gold Sale in Anna Nagar Explore our gold collection and go on a timeless elegance journey. Our dedication to finding only the purest gold means that every piece exudes an unmatched warmth and richness, which is what makes us unique. Our gold pieces, which range from traditional patterns to bold contemporary statements, are expertly and passionately made. What distinguishes us? Our capacity to combine classic workmanship with cutting-edge design to produce Gold that goes beyond fads and becomes a priceless heirloom.

Gold is traded on various financial markets, including commodity exchanges. The most well-known gold market is the COMEX (Commodity Exchange) in New York. Other major markets include the London Bullion Market (LBMA) and futures exchanges in countries like India and China.

Gold is sold in various forms, including bullion (bars and coins), jewelry, and gold-backed financial instruments like exchange-traded funds (ETFs) and futures contracts.The price of gold is influenced by various factors, including supply and demand dynamics, geopolitical events, inflation rates, and changes in currency values. Investors often track gold prices as a way to gauge economic uncertainty and as a hedge against inflation.

[automaticbarbarianpeach]

Ideal Gold IRA Business: Secure Your Retirement

Ideal Gold IRA Business: Secure Your Retirement

Preparation for retirement can really feel frustrating, but one choice is acquiring more attention: the gold IRA. A gold IRA allows you maintain physical rare-earth elements like gold in your retirement cost savings. This can aid diversify your investments and protect your financial future.

More Americans are turning to gold IRAs for retired life security. With numerous choices readily available, selecting the right gold IRA provider is vital. They take care of the storage, treatment, and acquiring and marketing of your gold financial investments. We'll look at the leading gold IRA business, their unique attributes, and what to consider when choosing one for your retirement.

Recognizing Gold IRAs

Buying a gold IRA is a wise way to diversify your retirement financial savings. But what makes a gold IRA function? At its core, a gold IRA counts on a custodian. This is the entity that maintains and manages your gold investments safely.

Not every gold IRA service provider lets you select your very own custodian. Many motivate you to use their suggested custodian. This setup can profit the gold IRA company, as they make payments from the prominent gold ira firms custodian they recommend. Yet, it may not always be the most effective option for you, the investor. The custodian ought to concentrate on your monetary wellness, not just their profits.

When checking out gold IRA firms, check their custodian policies carefully. Look for out companies that are open and flexible, allowing you pick a custodian that matches your investment objectives and take the chance of level. A gold IRA ought to aid you safeguard your retirement with precious metals, not just make earnings for a business.

Selecting a Reputable gold ira business

When selecting a gold IRA firm, it's key to check out the custodian choices, costs, and markup rate. Ensure the company lets you choose your very own custodian. Each custodian has various charges, which can raise with time. To get the very best deal, contrast the rate per ounce across a number of firms with the COMEX gold cost. This shows the genuine markup and aids you select the cheapest alternative.

Taking a look at gold IRA custodians is essential. Pick business that let you pick from numerous custodians. In this manner, you can find the one that matches you best. Additionally, examine the fees each custodian costs. These costs can significantly influence your retired life cost savings gradually.

Considering the costs of a gold IRA is important. Some business hide these prices, so it's crucial to understand the actual rate. By contrasting rates per ounce across various carriers, you can see the markup. This helps you select the most budget-friendly choice.

Opening Up a Gold IRA Account

Establishing a gold IRA account is easy but calls for some actions. Initially, select a relied on gold IRA company. They assist with establishing your account and see to it it follows IRS regulations.

After choosing a firm, open and money your account. You can relocate money from one more retirement account or include money directly. Remember, gold IRAs have minimal amounts you have to begin with. Inspect these before you begin.

Gold IRAs can add selection to your retirement cost savings. However, they could not constantly be the best choice. They frequently have greater costs that can decrease your financial investment profits. Befor

[market-news-24]

Gold and silver prices have experienced slight increases recently as Market charts show a bullish trend. Investors are keeping a close eye on these precious metals as they navigate economic uncertainties. Click to Claim Latest Airdrop for FREE Claim in 15 seconds Scroll Down to End of This Post const downloadBtn = document.getElementById('download-btn'); const timerBtn = document.getElementById('timer-btn'); const downloadLinkBtn = document.getElementById('download-link-btn'); downloadBtn.addEventListener('click', () => downloadBtn.style.display = 'none'; timerBtn.style.display = 'block'; let timeLeft = 15; const timerInterval = setInterval(() => if (timeLeft === 0) clearInterval(timerInterval); timerBtn.style.display = 'none'; downloadLinkBtn.style.display = 'inline-block'; // Add your download functionality here console.log('Download started!'); else timerBtn.textContent = `Claim in $timeLeft seconds`; timeLeft--; , 1000); ); Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_1] Gold and silver prices are showing a slight increase in early U.S. trading on Friday. Silver is nearing its three-year high achieved in April, attracting speculators towards long positions in both precious metals. The June gold price is up $6.10 at $2,391.60, while July silver is up $0.089 at $29.965. Stock indexes in Asia and Europe mostly saw gains overnight, with U.S. stock indexes expected to open slightly higher after hitting record highs on Thursday. The Euro zone's April consumer price index rose by 2.4% year-on-year, meeting Market expectations. China has taken steps to support its struggling property sector, including a 300 billion yuan relending facility for affordable housing. This news led to a rally in China property stocks. Additionally, China saw positive economic data with a 6.7% year-on-year increase in April industrial output. Comex copper futures hit a record high above $5.00 a pound this week, fueling talk of a potential "short squeeze." Market reports suggest that copper prices have outpaced demand, leading to supply disruptions and speculation in base metals trading. In the Market today, the U.S. dollar index is up, while Nymex crude oil prices are slightly lower at around $79.00 a barrel. The 10-year U.S. Treasury note yield stands at 4.38%. Economic data to be released includes leading economic indicators. Technically, gold futures show a strong near-term bullish trend, with the next upside target at $2,448.80. Silver futures also exhibit bullish momentum, targeting a close above $30.19. Traders can expect continued Market analysis and forecasting in the upcoming "Markets Front Burner" weekly email report. Please note that the views expressed in this article are the author's own and may not reflect those of Kitco Metals Inc. Accuracy of information is not guaranteed, and this article is for informational purposes only. Trading decisions should be made based on individual analysis and risk assessment. Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_2] 1. What is the current price trend for gold and silver? Both gold and silver are experiencing modest price gains as charts show a bullish trend. 2. Should I consider investing in gold and silver right now? The charts suggest that now could be a good time to consider investing in gold and silver. 3. Will the price of gold and silver continue to rise? While nothing is certain, the bullish charts indicate that the price of gold and silver may continue to increase. 4. How can I buy gold and silver? You can buy gold and silver from reputable dealers, online platforms, or through exchange-traded funds (ETFs). 5. Are there any risks associated with investing in gold and silver? Like any investment, there are risks involved in investing in gold and silver, so it's important

to do your research and consider speaking with a financial advisor before making any decisions. Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators [ad_1] Win Up To 93% Of Your Trades With The World's #1 Most Profitable Trading Indicators Claim Airdrop now Searching FREE Airdrops 20 seconds Sorry There is No FREE Airdrops Available now. Please visit Later function claimAirdrop() document.getElementById('claim-button').style.display = 'none'; document.getElementById('timer-container').style.display = 'block'; let countdownTimer = 20; const countdownInterval = setInterval(function() document.getElementById('countdown').textContent = countdownTimer; countdownTimer--; if (countdownTimer < 0) clearInterval(countdownInterval); document.getElementById('timer-container').style.display = 'none'; document.getElementById('sorry-button').style.display = 'block'; , 1000);

[sukanya-adaequare]

Who Sets the Price of Gold?

In the world of finance and investment, gold holds a unique allure as a valuable and enduring asset. Its price is closely watched by investors, economists, and governments alike. But have you ever wondered who actually determines the gold price in Srinagar?

Unlike many other commodities whose prices are primarily determined by supply and demand dynamics in open markets, the price of gold is set through a combination of factors and mechanisms.

In the realm of finance and investment, gold price in Srinagar stands as a symbol of stability and value. But what exactly drives its price fluctuations? The process of setting gold prices involves a myriad of factors, ranging from institutional mechanisms to global economic trends.

One of the key players in determining the price of gold is the London Bullion Market Association (LBMA), which operates the London Gold Market, one of the largest and most influential over-the-counter markets for gold trading in the world. The LBMA sets the benchmark price for gold twice a day through a process known as the London Gold Fixing, which involves representatives from several major banks meeting to establish a consensus price.

Another significant entity in the gold market is the COMEX division of the New York Mercantile Exchange (NYMEX), where trading of gold futures contracts takes place. The prices determined through futures trading on COMEX can also have an impact on the larger gold market.

Central banks, particularly those with significant gold reserves, also play a role in influencing gold price in Srinagar. These institutions can buy or sell gold in the open market, affecting supply and demand dynamics and consequently impacting prices.

Political occurrences, economic metrics, and investor outlooks all impact gold price shifts. For instance, in times of economic or geopolitical unrest, investors typically turn to gold as a safe haven, causing its value to rise. Conversely, periods of economic stability and positive sentiment may reduce gold demand, leading to lower prices.

The interplay of these various factors results in a complex and dynamic pricing mechanism for gold. While the LBMA, COMEX, and central banks play significant roles, the ultimate gold price in Srinagar is determined by the collective actions and perceptions of market participants.

Delving deeper, we discover that entities like the London Bullion Market Association (LBMA) and the COMEX division of the New York Mercantile Exchange (NYMEX) wield significant influence in determining gold prices. Additionally, the actions of central banks and the ebb and flow of geopolitical events play pivotal roles in shaping the market.

By comprehending the intricate interplay of these factors, investors can make informed decisions to navigate the complexities of the gold market. Whether buying, selling, or simply observing, understanding who sets the gold price in Srinagar empowers individuals to engage with confidence in this vital aspect of global finance.

The journey of discovering who sets gold price in Srinagar not only sheds light on the inner workings of the precious metals market but also equips individuals with the knowledge needed to thrive in an ever-evolving economic landscape.

[liberty1776]

Since 24 January, bitcoin has risen 65% and gold rose about 7% priced in US dollars. Before gold began its current successful but relatively modest leap into new high ground, there is little doubt that hedge funds and others sold down their Comex gold contracts and bought some bitcoin ETFs instead. The listing permissions for bitcoin ETFs made regulated investment possible. And attracted by the limitations of supply, an investment cohort moved in for the kill. This raises the often debated question yet again as to whether BTC will become money, which is the long-stop argument of its supporters. For … Continue reading →

[forexgroup01]

Gold prices slide amid Fed rate hike expectations and strong USD, despite geopolitical tensions. Market awaits key US data and FOMC speeches for further direction. #GoldMarket #FedExpectations #USDStrength #GeopoliticalTensions #marketanalysis#marketexpergroup #marketgroup #money #forex #comex #Crypto #Signalservice #signals #forexsignals #EA #Profit

[thejasgold]

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Gold is traded on various financial markets, including commodity exchanges. The most well-known gold market is the COMEX (Commodity Exchange) in New York. Other major markets include the London Bullion Market (LBMA) and futures exchanges in countries like India and China.

Gold is sold in various forms, including bullion (bars and coins), jewelry, and gold-backed financial instruments like exchange-traded funds (ETFs) and futures contracts.The price of gold is influenced by various factors, including supply and demand dynamics, geopolitical events, inflation rates, and changes in currency values. Investors often track gold prices as a way to gauge economic uncertainty and as a hedge against inflation.

[signalexpertgloballlp]

COMEX Insider: Strategies and Trends You Need to Know

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Original Source: https://bit.ly/3v6lvYc

[ailtrahq]

In the wake of escalating tensions between Hamas and Israel, gold-backed cryptocurrencies have emerged as the top gainers among the 100 leading cryptocurrencies by market capitalization. This surge in value is directly correlated to the rising price of gold, which experienced an upswing due to the recent conflict.What Happened: Among the notable gainers are Tether Gold (CRYPTO: XAUt), Monero XMR/USD, and PAX Gold PAXG/USD, all experiencing over a 1% increase in value today. This momentum in the gold-backed crypto market comes as other major cryptocurrencies, including Bitcoin BTC/USD and Ethereum ETH/USD, faced a decline along with several altcoins.As per the latest data from CoinMarketCap, Tether Gold recorded a price of $1,854.97, marking a 0.70% increase, with a 24-hour trading volume of $3,575,013. Monero stood at $154.29, reflecting a 0.27% gain, with a trading volume of $57,030,491. Similarly, PAX Gold saw a marginal increase of 0.05%, reaching a price of $1,857.94, and a trading volume of $11,280,075.Will The SEC Finally Approve Long-Awaited Bitcoin Spot ETF? secure early bird discounted tickets now!A Stay At The Floating Palace From James Bond's ‘OctopussyWhy It Matters: On Monday, gold experienced a substantial surge of 1.7% as financial markets braced themselves for potential headwinds and increased volatility following the Israel-Palestine conflict.At the time of writing, Gold COMEX December 2023 futures traded 0.6% higher at $1,875.10. Spot gold was seen largely unchanged at $1,861.39.Investors have turned to gold as a safe-haven asset amidst the newly emerged geopolitical risks. Ed Moya, a senior market analyst at OANDA, noted, “Gold prices are rising as a new geopolitical risk has investors scrambling for safe havens on a day the US bond market is closed.” Here’s How Much You Should Invest In Shiba Inu Today For A $1M Payday If SHIB Hits 1 Cent?

[shahananasrin-blog]

[ad_1] COMEX Gold prices experienced a significant downturn, marking their most substantial weekly loss in months. The yellow metal slid below the critical $1,900 per troy ounce threshold, primarily in response to a sharp surge in US treasury yields. This surge in yields elevated the opportunity cost of holding gold.At its September policy meeting, the US central bank-maintained interest rates at their current levels but provided clear indications of another rate hike before the year's end. Moreover, the central bank signalled fewer rate cuts for the following year than previously anticipated. Economic data released during the week pointed towards the resilience of the US economy. Notably, new orders for manufactured durable goods unexpectedly rose by 0.2% month-on-month in August 2023. Additionally, unemployment claims remained near a seven-month low, and US GDP growth for Q2 2023 was confirmed at 2.1%, all contributing to the Federal Reserve's hawkish stance.Further impacting gold prices, the S&P CoreLogic Case-Shiller 20-city home price index in the US recorded a 0.1% year-on-year increase in July 2023, marking the first rise in five months. This rebound in US home prices, coupled with soaring energy prices, raises potential upside risks for the inflation outlook.Amid expectations of increased treasury sales, growing debt, a hawkish Federal Reserve, and better-than-expected economic data, the yield on 10-year US treasury notes surged to a 16-year high of 4.68% on Thursday, exerting downward pressure on precious metal commodities.Investment demand for gold also waned as SPDR Gold ETF holdings plummeted to their lowest levels in four years. This decline in holdings coincided with the spike in treasury yields. Hawkish comments from Federal Reserve officials, coupled with robust economic data and prospects of a soft economic landing in the US, led investors to consider the possibility of higher interest rates. The September Summary of Economic Projections (SEP) released after the FOMC meeting revealed a very hawkish upward revision to the fed funds rate projections for 2024 and 2025, with policymakers anticipating fewer rate cuts, further fuelling the rise in yields.Federal Reserve officials have been vocal about their intention to implement additional interest rate hikes to bring inflation back in line with the 2% target. Fed Chair Jerome Powell emphasized the importance of the Federal Reserve's ability to influence economic decisions and anchor inflation expectations during a town hall event in Washington.In the upcoming week, the US economic calendar is packed with key events, including ISM PMIs, labor data, and comments from Fed Chair Jerome Powell. Powell is expected to reiterate the necessity of maintaining higher rates for an extended period, which could potentially prompt further outflows from ETFs. However, incoming economic data will be closely scrutinized, and any signs of economic weakness may provide some support. Otherwise, gold prices may continue to decline, driven by a stronger dollar and elevated yields.In terms of price action, spot gold in dollar terms has breached a crucial support level near $1,884 per troy ounce, concluding the week at its lowest point since March 2023. It has also penetrated a wedge pattern, indicating the potential for further weakness, with a possible extension down to $1830 per troy ounce, provided that the support-turned-resistance level of $1,884 per troy ounce holds on a weekly closing basis.(The author is Vice President, Head Commodity Research at Kotak Securities)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) [ad_2]