Gold prices rise for fourth straight day, hit record peak

Gold and silver became cheaper in the wedding season the price fell so much

"That has caused a little bit of concerns of another shutdown, which is benefiting gold", said Jeffrey Sica, founder ofCircle Squared Alternative Investments. Prior to this, gold attained a record high on 18 May.

Spot gold was up 0.1% to $1,756.70 per ounce at 1154 GMT.

Now that gold prices internationally trade above $1750 per ounce and if it closes above the levels of $1750 per ounce, there is expected a further pick-up and then there could be seen buying by under-invested hedge funds, which would push yellow-metal prices to $1800 per ounce.

"Policy uncertainty aside, we believe that debasement fears remain the key driver of gold prices in a post-crisis environment such as this", Goldman's analysts said in a note.

Gold rises, regains safe-haven bid as pandemic re-emergence fear jitters
Gold price today: Yellow metal scales 48K mark amid positive global cues

Gold prices jumped to Rs 48,190 from Rs 47,960 per 10 gram, while silver went up to Rs 48,800 from Rs 48,670 per kilogram on Tuesday, according to the Good Returns. The rupee appreciated by around 17 paisa against the dollar during the day with inflows into the equity market. With this, it was seen trending at Rs 48,020 per ten grams. Silver July futures fell almost 0.28 per cent to Rs 48, per kilogram. Gold has become a safe bet for institutional investors with global central banks increasing purchases.

Nine private banks spoken to by Reuters, which collectively oversee around $6 trillion in assets for the world's ultra-rich, said they had advised clients to increase their allocation to gold.

Domestic share markets closed at a three-month high on Monday as domestic regulatory approvals to manufacture COVID-19 drugs lifted pharmaceutical stocks, outweighing the impact of a surge in domestic as well as global coronavirus cases over the weekend. Gold and silver prices also fell globally on Tuesday morning. "Since Unlock 1.0, retail jewellery stores opened in India but very thin activity was reported", said Kumar Jain, director, Umedmal Tilokchand Zaveri, a bullion dealer and jewellery retailer in Zaveri Bazaar.

Texas Gov. Greg Abbott Halts Coronavirus Reopening As Cases Rise
Although the number of new coronavirus cases dropped to 1,795 the following day, the number of fatalities almost doubled to 79. On Thursday, the number of hospitalizations climbed to almost 4,400 patients, setting a new record for a 13th consecutive day.

Related News:

  • Massive explosion near Tehran

    Massive explosion near Tehran

    Mobile-phone footage showing a large, orange plume illuminating Tehran's night sky was published earlier by the state-run Young Journalists' Club.
    Stream All 23 Seasons of 'South Park' on HBO Max

    Stream All 23 Seasons of 'South Park' on HBO Max

    Deadline reports that HBO Max refused to host five episodes of South Park because they depict Islam's Prophet Muhammad . We delivered our version of the show to Comedy Central and they made a determination to alter the episode.
    Adult film star Ron Jeremy charged with sexually assaulting four women

    Adult film star Ron Jeremy charged with sexually assaulting four women

    According to prosecutors, Jeremy is accused of attacking and raping a 25-year-old woman in her West Hollywood home back in 2014. He was ordered held in custody in lieu of $US6.6 million ($A9.6 million) bail and will be formally arraigned on Thursday.
  • Jenna Marbles Announces Decision to

    Jenna Marbles Announces Decision to "Move On" From YouTube

    "Because all that matters is that people were offended and it hurt them, and for that, I am so unbelievably sorry". In the video, Jenna wears a rice hat and raps, "Hey ching chong wing wong, shake your king kong ding dong".
    B.C. records 20 new COVID-19 cases, two new deaths

    B.C. records 20 new COVID-19 cases, two new deaths

    A total of 2,517 people who have previously tested positive for COVID-19 in B.C. have now fully recovered from the virus. Bonnie Henry said at Thursday's daily update with Health Minister Adrian Dix.
    United States  accuses Assange of recruiting LulzSec hackers

    United States accuses Assange of recruiting LulzSec hackers

    His lawyers state that the charges of spying and computer misuse by the US Justice Department were politically motivated. A federal grand jury on Wednesday returned yet a third charging document against WikiLeaks founder Julian Assange .
  • NHL Seattle, Amazon partner to build Climate Pledge Arena

    NHL Seattle, Amazon partner to build Climate Pledge Arena

    We challenge music, facilities, concert tours and sports. "I never dreamed that we would have this type of platform", he said. Opened in 1962 for the Century 21 Exposition as the Washington State Pavilion, the building was renamed the Coliseum in 1964.
    Trump's niece faces lawsuit after writing 'revelatory' book

    Trump's niece faces lawsuit after writing 'revelatory' book

    Robert Trump said he never consented to the book being published and argued it had been prohibited by the accord reached in 2001. Robert Trump , the president's brother, tried convincing a judge to block the book, which is slated for release next month.
    For every American diagnosed with coronavirus, 10 more were missed, CDC says

    For every American diagnosed with coronavirus, 10 more were missed, CDC says

    But many experts say the US should be testing roughly 1 million to 3 million people daily to catch new cases and prevent flareups. The virus is affecting younger individuals, and fewer are hospitalized or dying.
  • Liverpool: Jurgen Klopp hails 'incredible' Premier League title win

    Liverpool: Jurgen Klopp hails 'incredible' Premier League title win

    And after six minutes of stoppage time at Stamford Bridge, what seemed inevitable long before the pandemic finally became reality. There were fears at one stage the season could have been declared null and void, before the Premier League agreed to restart.
    Coronavirus Totals May Be Much, Much Higher: CDC

    Coronavirus Totals May Be Much, Much Higher: CDC

    Younger people may not be taking the risk of pandemic spread as seriously as they should, CDC's Dr. The new increase in positive cases, they said, is capturing what has always been there.
    Almost  $1.4 Billion In Coronavirus Relief Payments Sent To Dead People

    Almost $1.4 Billion In Coronavirus Relief Payments Sent To Dead People

    The IRS has asked those who may have received an extra payment to return the money , but has not said it is a legal obligation. The money does not need to be repaid if funds are used to keep workers on the payroll and other conditions are met.

Most liked

Twitter allows employees to work from home 'forever'
Other major tech firms, including Facebook and Google, have extended their work from home policies through the end of the year. However, Twitter has started looking at the challenges facing the new normal, it remains to be seen how this passes too.

Countries running out of oxygen as Covid-19 cases near 10M
The coronavirus has hit 9.3 million people and killed more than 480,000 so far and is rising by about 1 million cases per week. A further 170,000 concentrators, with a value of 100 million USA dollars, can be available over the next six months.

LG's HBS-FN6 earbuds automatically clean in their UVnano case
The HBS-FN6 model of the Tone Free earbuds comes with a UVnano case which uses ultraviolet light to clean earbuds as they charge. The HBS-FN6 and HBS-FN4 come in Stylish Black and Modern White colors, and they'll debut in July in both the U.S. and Europe.

Author of Game of Thrones to Release Book Next Year
The author added: "I fear I shall never recapture that pace again". "I will be dropping back into Braavos next week". Although the Game of Thrones series concluded over a year ago, fans are still reeling from a controversial finale.

'Not on my watch': South Dakota governor vows to protect Mount Rushmore
Rioters in Portland removed statues of Presidents George Washington and Thomas Jefferson over the past few weeks. While those protests initially focused on racism and police brutality, it has escalated into a new phase.

Elizabeth Banks Boards 'The Magic School Bus' Live-Action Film
The news comes hot on the heels of Scholastic Entertainment also producing an adaptation of the popular Animorphs book series . More recently, a sequel series called The Magic School Bus Rides Again came to Netflix in 2017 with Kate McKinnon playing Ms.

Nintendo Could Be Stepping Back from Mobile Gaming
Although the company has designed games for its own game consoles, we occasionally saw Nintendo games on mobile platforms. The company clarified that it will be concentrating on the games that it already has.

Google announces redesigned Google Photos experience
Google reminds that you can always remove data location or disable Location History and Location permission from the camera. Automatic creations like movies, collages, animations, stylized photos and more are moving into Memories now as well.

Oculus Quest sells $100m worth of software, Facebook reveals
The title was compatible with the PC-powered Oculus Rift S , but is not optimized to run on the standalone Quest . It is preparing to emerge from beta testing and become an official feature for the computer-free VR headset .

Halt extradition of Huawei executive, says former Canada SC Justice
Zhao said, according to the official English translation of his remarks published by China's Ministry of Foreign Affairs. Canada's prime minister is rejecting calls to step in to end the extradition trial of a Chinese Huawei executive.

OVER THE MOON Trailer Promises a Bright, Young, Brilliant Girl
Over the Moon is an exhilarating musical adventure about moving forward, embracing the unexpected, and the power of imagination. It features songs by Christopher Curtis, Marjorie Duffield and Helen Park and a score by Steven Price ( Gravity ).

Murray expects return to ‘high level’ after injury woes
Grigor Dimitrov , Borna Coric and Viktor Troicki also returned positive tests after playing in the Balkan tournament. While there were chair umpires, players picked up their own balls and towels and they did not change ends.

Caution urged over reliance on Covid-19 antibody testing
However they caution over reliance on this figure, as the studies were small, poorly reported and done in select patient groups. In addition, the tests wrongly diagnosed COVID-19 in 1 percent to 2 percent of people without the disease, they added.

Major League Baseball is back, and its players are very happy
Active rosters will be 30 players during the first two weeks of the season, 28 during the second two weeks and 26 after that. Salaries originally totaled $4 billion, and the prorated portion of about 37% reduces pay to $1.48 billion.

Tropical Storm Dolly forms over the north Atlantic Ocean
The Canadian Hurricane Centre says Dolly is not expected to have any real impact on Atlantic Canada at this time. After briefly strengthing to tropical storm strength Tuesday, Dolly is now a tropical depression .