For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Gold set for biggest weekly gains since Oct 2011

|
 Gold set for biggest weekly gains since Oct 2011
Gold has rebounded during the entire week and is set to notch its biggest ever weekly gains since October 2011.
 

Domestic gold tracks international gold and spot gold was last trading at $1470 an ounce. It has recovered almost $150 after hitting $1320 on April 16.

The week has seen a smart bounce as physical buying in countries as far as Australia and Turkey saw the metal bouncing back smartly.

Click to know spot gold rates in major cities.

Investors completely ignored ETF sale and the fall in gold has once again proved to be a temporary aberration.

Reuters has reported that Turkey, one of the world's biggest gold buyers, has imported more of the precious metal in April than in any month since last July following a surge in domestic demand after gold prices hit a two-year low last week.

Russia has also increased its gold reserves, the IMF has reported.

Clearly, gold is bouncing back with a vengeance - how far it will go, is difficult to predict.

GoodReturns.in

Read more about: gold
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more