Multi-commodity exchange, Software developer

Gold prices had earlier fell sharply from its record highs after US deferred imposing fresh tariffs on imports of Chinese products.Despite this, closely watched recession indicators warned a possible recession typically defined as fall in GDP for two consecutive quarters.At the Multi Commodity Exchange (MCX), the October contract of gold touched an intra-day high of Rs 38,220 per 10 gram. Earlier, the precious metal touched a life time high of Rs 38,666 per 10 gram.At 3.05 p.m., the October contract of Gold was trading at Rs 37,851 per 10 gram, down Rs 312 or 0.82 per cent.Experts said that investors rushed for gold over the recession warning that came from bond market. The inversion in the US bond yield have hit levels last seen in 2007, just ahead of the global financial crises.This followed Germany reporting a negative growth, hence nearing the risk of a recession. UK had already reported a contraction in growth amid Brexit woes and China added fuel to fire after it released weaker than expected factory data.Investment firm Morgan Stanley had said that if the trade war further soars via US further raising tariffs on all goods imported from China to 25 per cent, "we would see the global economy entering recession in three quarters".The Reserve Bank of India (RBI) had also lowered India's GDP growth projection. RBI Governor Shaktikanta Das said it was warranted by various high frequency indicators pointing to weakening of both domestic and external demand conditions.( With inputs from IANS )

Home

City

Latest News

Cricket

LT Premium

National

International

Maharashtra

Opinions

Chhatrapati Sambhajinagar

Nagpur

Entertainment

Photos

Business

Technology

Sports

Lifestyle

Social Viral

Lokmat Games

Health

Pahalgam Terror Attack

Tahawwur Rana

IPL 2025

CM Devendra Fadnavis

Mumbai Local

Weather Update

Multi-Commodity ExchangeFOLLOW

Multi-commodity exchange, Latest News

Business :Gold futures surge as international prices hit new high

Mumbai, Aug 3 Bull run in domestic gold futures continued on Monday as prices in the international market ... ...

Business :Gold may cross Rs 52,000 per 10 grams by Diwali

New Delhi, July 6 The price of gold in the spot and futures markets remained soft for the ... ...

Business :Expensive metals, crude boom; gold touches new high

Prices of gold, silver and crude oil surged on Wednesday on the Indian futures market MCX, following the rise in bullion and crude prices in the international market due to deepening military tensions between the US and Iran. ...

Business :Gold near record high on recession warnings

Gold prices surged to near-record high levels yet again on Friday as renewed fears of a possible recession led investors to run for safe haven assets like gold. ...