INSUBCONTINENT EXCLUSIVE:
steadied after reaching a two-week low on Thursday
Gold remains on track for its second consecutive weekly decline, sliding 2.1% since last week.The recent pullback marks a significant
correction from the all-time high of $3,500.05 recorded on April 22
Market sentiment shifted as United States -China trade tensions showed signs of easing.The Chinese commerce ministry confirmed that the
Eases to $3,238 as Trade Talks and Strong Jobs Data Temper Rally
(Photo Internet reproduction)Stronger-than-expected United States employment data further pressured gold prices
April nonfarm payrolls increased by 177,000 jobs, far exceeding the 130,000 forecast by analysts.This robust jobs report has dampened
expectations for early Federal Reserve interest rate cuts
Treasury yields consequently rose, making non-yielding gold less attractive to investors.Despite the recent pullback, institutional interest
The World Gold Council reported that gold ETFs attracted 226.5 metric tons worth $21.1 billion in the first quarter.Gold Eases to $3,238 as
Trade Talks and Strong Jobs Data Temper RallyThis represents the largest quarterly inflow in three years, increasing total ETF holdings by
3% to 3,445 tons.United States -listed funds led with acquisitions of 133 tons, while European-listed funds added 54.8 tons
Central bank purchasing continues to provide fundamental support for gold prices.Physical gold markets show varying reactions to the recent
In India, 24 karat gold trades at ?94,970 per 10 grams, while 22 karat gold costs ?90,450.These prices have declined from peaks seen in late
April, when gold reached an all-time high of ?74,320 per sovereign.Market analysts maintain a positive long-term outlook despite short-term
The annual gold price forecast has topped $3,000 for the first time in consensus polling
States tariffs on global economic stability
However, analysts caution that elevated prices are affecting jewelry demand.The industrial metal silver has underperformed gold, rising only
12% this year amid economic growth concerns
