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Gold rebounds from over one-month low on weaker dollar

June 30 (Reuters) – Gold reversed course and edged higher on Monday, supported by a weaker dollar, after hitting a more than one-month low earlier as easing U.S.-China trade tensions dampened safe-haven demand and bolstered risk appetite. Spot gold rose 0.3% to $3,281.65 per ounce, as of 0216 GMT, after hitting its lowest since May 29 earlier in the session. U.S. gold futures were up 0.2% at $3,293.30. “There is less of a ‘doom and gloom’ outlook surrounding both tariff talks and events in the Middle East, which is relegating gold to play second fiddle to risk assets,” KCM Trade

Monsoon covers entire India nine days early, accelerating planting

MUMBAI, June 30 (Reuters) – Annual monsoon rains covered entire India on Sunday, nine days earlier than is typical, the weather department said, bringing forward planting of summer-sown crops. The monsoon is the lifeblood of India’s nearly $4 trillion economy, delivering almost 70% of the rainfall needed to water farms and replenishing aquifers and reservoirs. Nearly half of India’s farmland is not irrigated and depends on the annual June-September rains for crop growth. The southwest monsoon has further advanced into the remaining northwestern parts of the country, effectively covering the entire country nine days ahead of schedule, the India Meteorological

Forex reserves decline by USD 1 bn to USD 697.93 bn

Mumbai, Jun 27 (PTI) India’s forex reserves dropped by USD 1.01 billion to USD 697.93 billion for the week ended June 20, the Reserve Bank of India said on Friday. In the previous reporting week, the reserves had jumped by USD 2.29 billion to USD 698.95 billion. Forex reserves had touched an all-time high of USD 704.885 billion in September 2024. For the week ended June 20, foreign currency assets, a major component of the reserves, dropped by USD 357 million to USD 589.06 billion, the data released on Friday showed. Expressed in dollar terms, the foreign currency assets include

Gold plunges Rs 930 to Rs 97,670/10 g amid easing off Israel-Iran tensions

New Delhi, Jun 27 (PTI) Gold prices plunged Rs 930 to Rs 97,670 per 10 grams in the national capital on Friday as traders rushed to selling amid easing off Middle East tensions and favourable reports about a trade deal between the US and China. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on Thursday. On Friday, gold of 99.5 per cent purity declined by Rs 850 to Rs 97,200 per 10 grams (inclusive of all taxes). It had settled at Rs 98,050 per 10

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