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India Gold prices soar ahead of Diwali, Jewellery sales witness mixed trend

India Gold prices soar ahead of Diwali, Jewellery sales witness mixed trend | Gold market | Scoop.it
India gold premium to London prices had risen $120 per ounce while supply squeeze had lifted the spot market premium of gold over near-month contract at Multi-Commodity Exchange (MCX) to rise to Rs 2000 per 10 gram.
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Sreekumar Raghavan's curator insight, October 28, 2013 7:57 AM

Gold sales should be strong this season but it is too early to say whether overall sales is quite bad now

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NSEL scam: Jignesh Shah arrest would be a psychological blow to markets

NSEL scam: Jignesh Shah arrest would be a psychological blow to markets | Gold market | Scoop.it
NSEL scam is basically different from the stock market or commodity market scams we have seen before.
Sreekumar Raghavan's insight:

The NSEL episode shows that first we need to have a strong regulator before the market is thrown open to investors in any sector.

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An India village becomes site for a 1000 kg Gold hunt

An India village becomes site for a 1000 kg Gold hunt | Gold market | Scoop.it
The sage, Swami Shobhan Sarkar (70) who is always in a trance and refuses to meet people, has said that he had a dream in which the Maharaja said that 1000 kg of gold lies burried in four places in Uttar Pradesh state in North India.
Sreekumar Raghavan's insight:

This sleepy village in Uttar Pradesh has now become the new center of attraction for gold enthusiasts!  Gold can't fail to make news in India

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Commodity ETFs make a comeback, total assets soar to $135.9 bn in Q3

Commodity ETFs make a comeback, total assets soar to $135.9 bn in Q3 | Gold market | Scoop.it
On a sectoral basis, agri commodities, energy and platinum, silver led precious metals witnessed better inflows compared to industrial metals that lagged behind.
Sreekumar Raghavan's insight:

Investor sentiment seems to be returning to commodities complex on weakening US dollar and optimistic China growth data

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India jewellers to resume sale of Gold coins | XGOLD

India jewellers to resume sale of Gold coins | XGOLD | Gold market | Scoop.it
A news report quoting a senior official of All India Gems and Jewellery Federation (GJF), that represents three lakh players in the industry, said that the decision not to sell gold coins was taken in July this year to support government ...
Sreekumar Raghavan's insight:

There was no need to curb sales of gold coins - all measures to curb consumption has only led to increased smuggling activity in the country

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India Gold prices soar ahead of Diwali, Jewellery sales witness mixed trend

India Gold prices soar ahead of Diwali, Jewellery sales witness mixed trend | Gold market | Scoop.it
India gold premium to London prices had risen $120 per ounce while supply squeeze had lifted the spot market premium of gold over near-month contract at Multi-Commodity Exchange (MCX) to rise to Rs 2000 per 10 gram.
Sreekumar Raghavan's insight:

Gold sales should be strong this season but it is too early to say whether overall sales is quite bad now

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Festive season, supportive macros: India Gold perched above 30,000

Festive season, supportive macros: India Gold perched above 30,000 | Gold market | Scoop.it
MCX Gold futures for December delivery was seen trading up by 0.10% at Rs.30200 per 10 grams as of 11:40 AM IST on Thursday. International markets are looking quite supportive for Gold futusre and which may also support prices at MCX.
Sreekumar Raghavan's insight:

Is gold prices in India racing to 32,000 levels even as US gold, spot prices have the potential to climb above $1400 per ounce?

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India's sage turns prospector of 1000 kg of Gold!

India's sage turns prospector of 1000 kg of Gold! | Gold market | Scoop.it
The sage, Swami Shobhan Sarkar believes that 1000 tons of gold lies buried in the villages in Uttar Pradesh and it could solve India's current account deficit which is rising on account of gold imports.
Sreekumar Raghavan's insight:

India needs more gold anyway! Hope this turns out to be true!

 

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Torex Gold begins site construction at Morelos Gold Property in Mexico

Torex Gold begins site construction at Morelos Gold Property in Mexico | Gold market | Scoop.it
Torex is a growth-oriented, Canadian-based resource company engaged in the exploration and development of its 100% owned Morelos Gold Property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest...
Sreekumar Raghavan's insight:

Is there any recommendation on this share? Gold stocks have been bearish for some time

 

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Comex Gold weakens ahead of US data, positive trends in India Gold futures

Comex Gold weakens ahead of US data, positive trends in India Gold futures | Gold market | Scoop.it
Holdings in SPDR Gold Trust GLD fell 10.51 tonnes on Monday to 871.72 tonnes, their lowest since Feb. 2009. It was the fund's biggest one-day fall in holdings since early July.
Sreekumar Raghavan's insight:

Gold can actually go up due to seasonal strength and positive macro-economic factors but physical demand still remains weak

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