Gold demand on the rise



Gold demand in China increased by almost 20% in the first nine months of this year amid strong sales of Gold bars, which is a good sign for Gold prices. However, traders are concerned over Turkey’s central bank’s gold hoarding.
 
According to official data, Turkey added 3.8 million ounces of gold worth almost $5 billion to reserves this year. And even if Turkey bought just one-third of the reported amount, it would still rank among the top two or three buyers this year.
 
Turkey’s central bank cited a good old-fashioned diversification policy; however, there are speculations that the country could be shoring up reserves amid rising tensions between Turkey and its traditional Western allies.






 

Comments

Post a Comment

Popular posts from this blog

Live Stock Market Updates - Nifty hovers around 10K; Infratel, Sun Pharma gain

Image
The Indian stock market opened higher on Thursday led by gains in Sun Pharma and Reliance Industries amid positive global cues. Back home, earnings season for September quarter kicks off today. Among Nifty companies, TCS and IndusInd Bank are scheduled to report their Q2 numbers later in the day.  Industrial output numbers and consumer price inflation data are expected later in the day. At 9:38 AM, the S&P BSE Sensex is trading at 31,879 up 45 points, while NSE Nifty is trading at 9,999 up 14 points. The BSE Mid-cap Index is trading up 0.25% at 15,844, whereas BSE Small-cap Index is trading up 0.51% at 16,797. Bharti Infratel, Sun Pharmaceuticals, HCL Tech, Tech Mahindra and Reliance Industries are among the gainers, whereas Airtel, ICICI Bank, Asian Paints and Coal India are losing sheen on BSE. (Click Gainers/ Losers section) Some buying activity is seen in pharma, IT, auto, realty and metal sectors, while banking is showing weakness on NSE. The INDIA VIX is down 2.2% a...
Read more

Sensex gains over 200 points; TCS, RIL, Axis Bank stock gain

Image
Benchmark indices were perched near their lifetime highs, aided by gains in heavyweights Reliance Industries, Tata Consultancy Services and Oil and Natural Gas Corp. At 2:24 PM, the  BSE  Sensex was trading at 35,719, up 208 points, while the broader  Nifty50  index was ruling at 10,938, up 43 points. Among BSE sectoral indices, realty index gained the most by 0.87%, followed by capital goods 0.62%, oil & gas 0.48% and IT 0.47%. On the other hand, metal index fell 0.79%, power 0.27%, PSU 0.2% and FMCG 0.09%. DCM Shriram shares gained 5% after the company’s consolidated net profit in Q3 FY18 increased sharply by 56% year-on-year to Rs212.9cr. Shares of information technology companies rose for the fifth straight session on hopes that revival in US technology spending may aid these companies' revenue growth. The Nifty IT index was up 0.6%. Volatility index India VIX inched up 7.08% at 14.9728. Indiabulls HF (+7.9%), RIL (+5.3%), Adani Ports (+4.9%), TCS (+3.6%) ...
Read more

Live Stock Market Updates - Nifty, Sensex volatile; UPL down by 2.5%

Image
Erasing the morning gains, markets trade in red by noon. Auto and FMCC drag the indices down, with Finance, and Healthcare catching the downtrend. At 12:35 PM, the S&P BSE Sensex is trading at 32,361, down by 28 points, while NSE Nifty is trading at 10,140 down by 6 points. The BSE Mid-cap Index is trading up by 0.25% at 16,115 whereas BSE Small-cap Index is trading down by 0.18% at 17,050. Ambuja Cement, ICICI Bank, Ultra Cement, Bharti Airtel, and Coal India are among the gainers, whereas Axis Bank, Infratel, UPL, Cipla, Lupin are losing steam on NSE. Some buying seen in Basic Materials, Energy, IT, Telecom, and Reality while FMCG, finance, healthcare, industrials show weakness on the BSE. The INDIA VIX is down by 1.59% at 12.59. Out of 1,979 stocks traded on the NSE, 737 advanced, 921 declined, and 321 remained unchanged today. A total of 81 stocks registered a fresh 52-week high in trade today, while 19 stocks touched a new 52-week low on the NS...
Read more