GJ Town India

  Worries about growing deficits & piled-up debt   According to the Augmont Bullion Gold stays strong around $3300 on US fiscal worries! Amidst persistent concerns about the growing U.S. deficit, gold is still trading at about $3300 thanks to the dollar's decline, which usually increases the precious metal's allure as a safe-haven. The Congressional Budget Office estimates the recently enacted US tax bill, which is now headed to the Senate, will cost close to $4 trillion, escalating concerns about long-term fiscal instability.   These worries about growing deficits and increased debt servicing costs are highlighted by Moody's recent lowering of the US credit rating. Gold also benefited earlier this week from heightened geopolitical tensions following allegations that Israel would attack Iranian nuclear sites, which sparked concerns of a wider Middle East conflict. By highlighting Technical Triggers, Augmont Bullion said, gold prices are expected to trade in t...

Gold price target of over US$ 4,800 by the 2030 end!   +28.1%, is the impressive performance of gold in the first 9 months of the year in US dollars & +42.3% is the even more impressive year-on-year performance as of the end of September. Ronnie Stoeferle, Precious metal analyst, Switzerland casted 5 Reasons in the favour, why the gold rally is not over yet!    He said, 1: Adjusted for inflation, gold is not yet at its all-time high, 2: Demand for gold remains high, 3: Interest rate cuts boost the gold price, 4: Demand from private and professional investors remains very low & 5: Geopolitical tensions remain high. In the row of the gold rally is not over yet, Colin Shah, MD, Kama Jewelry said, gold at near all-time high! He said, “Gold prices touched a new high of over Rs. 78,000/10 gm in the domestic market.  The bullishness in gold prices is largely driven by the robust festive demand from jewelers and traders ahead of Dhanteras and Diwali. ...

Jewellery demand in India up by 5% in Q1 YoY Gold demand lifted by Central banks & ETFs globally! This compares with a relatively weak Q1 2018, when demand sank to a three-year low of just 984.2t. Central bank buying continued apace: global gold reserves grew by 145.5t. Gold-backed ETFs also saw growth: quarterly inflows into those products grew by 49% to 40.3t. Total bar and coin investment weakened a fraction to 257.8t (-1%), due to a fall in demand for gold bars. Official gold coin buying grew 12% to 56.1t. Jewellery demand was a touch stronger y-o-y at 530.3t, chiefly due to improvement in India’s market. The volume of gold used in technology dipped to a two-year low of 79.3t, hit by slower economic growth. The supply of gold in Q1 was virtually unchanged, just 3t lower y-o-y at 1,150t. Highlights of the Gold Demand Trends, Q1 2019 report issued by World Gold Council says, Central banks bought 145.5t of gold, the largest Q1 increase in global reserves ...