17.4 C
Jalandhar
Sunday, October 24, 2021

ਵਾਹਿਗੁਰੂ

spot_img
yes punjab punjabi redirection

Mera Ghar

Loan Waiver

Kisan Victims

Water Bills

Electricity Bills

Invest Punjab

Group D

Parali

PSSSB Chemical

Markfed Sept to Nov

Innocent

Gold near record high on recession warnings

- Advertisement -

Mumbai, Aug 16, 2019-

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.

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.  (Agency)

- Advertisement -

Yes Punjab - TOP STORIES

Punjab News

Sikh News

Transfers, Postings, Promotions

- Advertisement -spot_img

Stay Connected

20,369FansLike
112,645FollowersFollow

ENTERTAINMENT

National

GLOBAL

OPINION

Security Force in Kashmir

Kashmir: A battle that has been laid off for far too long- by Amjad Ayub Mirza

On October 22, 1947 Pakistan attacked the State of Jammu and Kashmir. It was the beginning of a conflict that would leave thousands dead...
Indian Population

In the light of the population explosion debate – by Nirendra Dev

Mizoram has made news -- not necessarily for the wrong reasons but certainly for quite unexpected reasons. North-Eastern India generally makes news due to...
Terrorists Shadow

Tackling the resurgence of jihad in Kashmir – by Amjad Ayub Mirza

With three encounters taking place in less than 24 hours between October 10 and 11, terrorist insurgency has effectively resurged in the Kashmir Valley....

SPORTS

Health & Fitness

Womens Health

41% of Indians unaware of examinations related to women’s health

New Delhi, Oct 23, 2021- Over the last one-and-a-half-year, people have been vocal about both mental and physical health in relationships. Even while miles away from one another, people kept checking on the health and well-being of their loved ones. However, one issue, i.e., breast cancer has been affecting women throughout the world, and it still needs much more...

Gadgets & Tech