Money Market Guru — Gold prices soared sharply by Rs 550 to trade at Rs 30,450 per ten gram at the bullion market today after North Korea fired a missile over Japan, deepening the tension between Pyongyang and the US.
Gold futures closed above $1,300 an ounce for the first time since November as the dollar dropped and speculation mounted that policy makers will be slow to raise U.S. interest rates.
Gold Silver Reports — Yellen and Draghi Both Defend Post-Crisis Financial Regulation — The world’s two most powerful central bankers on Friday delivered back-to-back warnings against dismantling tough post-crisis financial rules that the Trump administration blames for stifling U.S. growth.
After weeks of relative slumber, gold traders were rudely awoken to a surge in volume and volatility. In a span of one minute, gold futures contracts equalling more than 2 million ounces traded — about 20 minutes before Federal Reserve chair Janet Yellen was to address a gathering of policy makers in Jackson Hole, Wyoming.
Why India banned gold imports from South Korea? — After a surge in import of gold from South Korea, the Directorate General of Foreign Trade (DGFT) in the commerce ministry on Friday banned duty free imports of the yellow metal from the country.
India’s Prime Minister Narendra Modi warned countrymen against taking the law into their own hands in the name of religion, political ideology, faith of a person or culture.