iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Gold and Silver Prices Recover After Sell-off, Yellow Metal Up by 1.23%

25 Jan 2024 , 11:08 AM

Even though losses were contained by a declining dollar, gold fell on Wednesday as investors anticipated further economic data to determine when the Federal Reserve could first lower interest rates.

Spot gold was down 0.3% to $2,021.99 per ounce. At $2,023.40, US gold futures were down 0.1%.

According to an S&P Global survey, U.S. business activity increased in January and inflation seemed to be decreasing.

Certain investors are reconsidering their wagers over the pace at which the Fed will lower rates this year due to the robust U.S. economy and resistance from central bank officials.

The markets anticipate that the Fed will maintain current interest rates during its policy meeting on January 30-31 and have postponed the first interest rate drop, according to the CME's FedWatch Tool.

The announcement of a significant reduction in bank reserves by China's central bank will bring in roughly $140 billion in new funds for the banking sector.

Investors will now be watching the advance estimates of the U.S. GDP for the fourth quarter on Thursday and the statistics on personal consumption expenditures on Friday.

The opportunity cost of owning non-yielding bullion is decreased by lower interest rates.

Palladium increased by 0.8% to $955.87, platinum by 0.3% to $903.13, and spot silver by 1.1% to $22.67 per ounce.

For feedback and suggestions, write to us at editorial@iifl.com

Gold and silver prices today: Yellow metal recovers after heavy sell-off;  price rises by 1.23% - BusinessToday

Related Tags

  • FED
  • gold
  • inflation
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.

closeIcon

Get better recommendations & make better investments

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp