Gold prices recover today after 2-day fall

referring to In Delhi, gold rate of 99.9% and 99.5% purity recovered by Rs 80 each to Rs 31,650 and Rs 31,500 per 10 grams, respectively. Photo: ReutersNew Delhi: Gold prices recovered by Rs 80 to Rs 31,650 per 10 grams on Thursday on fresh buying by local jewellers amid an all-time low rupee against the US dollar, reported PTI. In Delhi, gold rate of 99.9% and 99.5% purity recovered by Rs 80 each to Rs 31,650 and Rs 31,500 per 10 grams, respectively. However, gold prices, which usually rise in times political and economic uncertainty, have gained little support from these trade tensions, while expectations that the US Federal Reserve will hike interest rates have pressured bullion. Silver prices, however, remained under selling pressure and shed Rs 80 to Rs 40,800 per kg.

Gold prices mark another 2018 low even as surging dollar pauses

A fresh round of global trade friction was again driving financial market sentiment Monday, although the issue has had a subdued impact in supporting haven gold. August gold GCQ8-0.23% fell $1.80, or 0.1%, to settle at $1,268.90 an ounce—its finish of 2018 so far. It shaved off 0.6% for last week despite an uptick during Friday's subdued session and was tracking a 2.8% June drop. Stock weakness can prove supportive for the perceived haven status of gold, but the two assets were bucking their usual relationship. Read: Here's what may be eroding gold's traditional haven statusStill, the trade impact is nibbling at metals markets.

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collected by :kiven Dixter