Bullion has gained 12% in 2022 and is closing in on a record as investors seek a store of value amid the threat of an inflationary shock to the global economy.
Bullion dipped after jumping almost 2% in the previous session. It rose by the most since May last year amid concern over the penalties against Russia could dim global growth.
Due to spread of omicron, US business payrolls fell the most last month, since early days of pandemic. Meanwhile, US govt has given a stronger military message of support for Ukraine.
Weddings and celebrations picked up in full swing in the December quarter, more than doubling full-year imports to about 925 tonnes, the highest since 2011.
As US tackles the hottest inflation since the 1980s, officials this month floated raising rates in March and the potential need to hike as many as five times this year.
Bullion is heading for its first annual loss in 3 years, after rallying to an all-time high in 2020, as central banks start to dial back pandemic-era stimulus to fight inflation.
Newspapers are filled with ads of gold jewellery auction amid indications of economic distress faced by Indian households. But resurgence in gold prices could stem the auctions.
The rise showed the first year-on-year increase in first half of the year. However, gold demand is forecast to slide to record low as virus-related restrictions left million jobless.
Project Syndicate Deputy Managing Editor Rachel Danna sat down with Martin Baron, former executive editor of the Washington Post, to discuss the state – and fate – of journalism today.
Admiral Dinesh Tripathi at annual media interaction ahead of Navy Day celebrations announced that an operational demonstration is expected at Thiruvananthapuram, President Murmu to attend.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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