People believed "There's a firm answer to whether gold is or isn't money" when crypto was new.
It is truly pointless to establish that gold is money or that it isn't. Because the answer is yes to both in many ways. Central banks and other financial institutions accounted for roughly 9% of gold demand in 2016. Gold bars and gold coins, on the other hand, accounted for around a quarter of overall demand.
As a result, consumers looking for money-like uses for gold accounted for nearly a third of gold demand in 2016. Surprisingly, American Eagles are marked with "face values" ranging from $5 to $50.
Here, I tried to highlight the top gold news for the gold forex traders.
Gold trading at Rs 52,140 per 10 gm; silver selling at Rs 66,300 a kg
The price of 10 grams of 24-carat gold stayed constant at Rs 52,140 on Wednesday, whereas silver per kilogram fell by Rs 300 to Rs 66,300. The price of ten grams of 22-carat gold is Rs 47,800. In Delhi and Mumbai, the price of 10 grams of 24-carat gold was Rs 52,140. In Mumbai and Delhi, ten grams of 22-carat gold costs Rs 47,800.
Putin's decision to pursue gold could lead to a shift in global energy trade away from the dollar
Putin has broached the concept of Western economies depositing gold with Russia in order to acquire rubles, which can be used to buy oil and gas. When US officials openly urged India against new and enhanced trade ties with Moscow last week, Russian Foreign Minister Sergey Lavrov reminded Prime Minister Narendra Modi that such ties existed before the Ukraine crisis.
The fact that Prime Minister Modi met with Lavrov for 40 minutes while meeting no other country's envoy tells a lot about India's objectives in a fast-changing geo-economic scenario.
At the close of trading, Australia's stocks were higher for the Gold, Metals & Mining, and utility sectors
Stocks in Australia were up after the close on Monday, thanks to advances in the Gold, Metals & Mining, and utility sectors. The S&P/ASX 200 index climbed 0.27 percent to a fresh one-month high at the close in Sydney.
Pendal Group Ltd (ASX: PDL) was the highest performance on the S&P/ASX 200 during the session, rising 18.08 % or 0.81 points to close at 5.29. Magellan Financial Group Ltd (ASX: MFG) rose 9.71 percent or 1.49 points to 16.84 in the late afternoon, while Zip Co Ltd (ASX: Z1P) rose 6.46 percent or 0.10 points to 1.56.
Gold rate: Yellow metal is unchanged, while silver is trading below Rs 67,000
Following a better US job market, gold prices remained unchanged on Monday, raising hopes of a speedier rate hike from the US Federal Reserve. The dollar and US benchmark yields were both solid, despite safe-haven demand fueled by the deepening Ukraine situation.
On the MCX, gold futures were trading at Rs 51,583 per 10 kilos, down 0.04 percent or Rs 23. Silver futures were selling at Rs 66,783 per kg, down 0.07 percent or Rs 50.
Gold sells for Rs 51,980 per 10 gram meanwhile silver sells for Rs 66,800 per kilogram
On Friday, the price of a gram of 24-carat gold stayed constant at Rs 51,980, while silver fell to Rs 66,800 per kg, down Rs 5,300. The price of ten grams of 22-carat gold is Rs 47,650 in India.
In both Delhi and Mumbai, a gram of 24-carat gold costs Rs 51,980. In Mumbai and Delhi, a ten-gram piece of 22-carat gold costs Rs 47,650.
This is a short weekly review of the gold forex market; hope traders can see an overview of this market and get benefits.
