GJ Town India

Metals markets consolidate for most of May after record surge   In the market report, ABC Bullion said, precious metal markets were in consolidation mode for most of May, with gold ending the month largely unchanged, after trading in a range between USD $3,400 and USD $3,100 per troy ounce (oz). Silver was likewise steady over May as a whole, last trading just above USD $33oz, while in local currency terms it looks like ending the month just above AUD $52oz.   The sideways trade seen across the month represents a much-needed period of calm for both gold and silver, with both metals seeing one of their strongest starts to the year on record between January and late April for gold, with silver peaking earlier.   The surge in metal prices in early 2025 was driven by multiple factors, including renewed volatility in risk assets both leading into and in the aftermath of the Trump administration's liberation day, tariff announcements, and the return to monetary eas...

Resilient physical gold demand played a major role in rally   At the juncture of festive season, Colin Shah, MD, Kama Jewelry share Gold Outlook for the remainder of 2024! He said, Gold witnessed a decent rally since the beginning of this calendar year. The price of yellow metal witnessed an upside in the domestic market especially after the outbreak of the geo-political tensions in the Middle East, triggering volatility in prices around the mid-year.    However, the prices saw some correction soon after the announcement of the customs duty cut in the union budget wherein the prices saw a drop of ~5% and the momentum soon gathered pace after this upside where prices hovered near a new all-time high range.     The factors that played a major role in this rally is strong official sector buying coupled with resilient physical demand which provided structural support that lifted gold’s trading range and also has the potential to continue till the rest o...