Gold safe-haven demand News

Tracking a firming trend overseas, gold prices quoted higher by Rs 41 to Rs 28,394 per 10 grams in futures trade Monday.

Gold extended its gains in future trading Monday as participants enlarged their positions after aftershocks from Britain`s vote to leave the European Union pushed investors towards the safe-haven asset.

Spot gold had risen 1.30 percent to USD 1,332.55 an ounce, after touching a high of USD 1,335.30 earlier in the day. Bullion prices surged by 4.8 percent in the previous session to top out at USD 1,358.20 - the highest since March 2014.

Gold has climbed 16 percent in the first three months of this year, its biggest quarterly rise since 1986, as concerns over global growth battered equities and sparked a wave of safe-haven buying.

Now, the gold has gained Rs 2,600 in the eleven straight sessions, its longest winning streak this year.  

Global equity markets have been hit by worries over the health of the euro zone banking sector, with a very loose monetary policy seen crimping bank profits and consequently their ability to repay debt.

Gold held close to its highest level in nearly three weeks on Monday, boosted by safe-haven demand after the Federal Reserve`s move last week to leave US interest rates unchanged weighed on global equities.  

Gold climbed towards a five-month high on Monday as an electoral win by Greece`s anti-austerity party sparked fears of renewed instability in Europe, triggering safe-haven demand for bullion.

Gold rose 0.7 percent to USD 1,229.98 an ounce, the highest since September 26. Silver also climbed 1.2 percent to USD 17.58 an ounce.

Gold extended losses on Thursday, reacting to stronger equities and robust U.S. economic data that curbed its safe-haven appeal, and the metal looked likely to fall back towards January`s lows as the dollar index rallied to four-year highs.

Gold clung to overnight gains on Wednesday as Asian shares retreated, but investors remained cautious amid a firmer dollar and upbeat U.S. manufacturing data that kept prices near their lowest since January.

Gold snapped a two-day losing streak on Tuesday as geopolitical tensions and fund inflows boosted the safe-haven metal, but gains were kept in check by strength in equities and the dollar.

Gold prices dropped 1.4 percent on Friday as European stock markets headed for their biggest weekly gain since mid-February on expectations for more central bank stimulus to lift the euro zone economy.

Gold has gained 0.4 percent this week.

Gold was steady at USD 1,308 an ounce Tuesday, and was trading in a USD 4 range.

Gold prices reclaimed Rs 29,000 level by gaining Rs 246 to Rs 29,016 per ten grams in futures trading Friday as speculators enlarged positions tracking positive cues from overseas markets.

Gold prices edged up marginally by 0.08 percent to Rs 28,604 per 10 grams in futures trading Thursday as speculators enlarged positions, tracking a firming global trend.

Gold had eased 0.2 percent to USD 1,311.70 an ounce Monday after posting its best week in three months on Friday.

Extending its yesterday's gains, gold rose further to Rs 26,448 per 10 grams in futures trade Friday as participants engaged in enlarging positions on a firming trend overseas.