China increased its gold hoard in January, raising its holdings by 0.9% to 57.18 million ounces from 56.66 million ounces a month earlier, according to the People’s Bank of China.
Gold has risen to a three-month high in volatile trade, as a mixed US jobs report prompted investors to reassess the outlook for US interest rates in 2016, putting bullion on track for its strongest weekly performance in more than a year.
Though China remained the world's largest gold producer, the country's annual output of the metal fell for the first time in 2015 due to lower prices in the global gold market, according to latest industry figures. The country produced 450 tonnes of gold last year, down 0.39 per cent year on year, the China Gold Association said.
Responding to nationwide bandh call by bullion traders against lower ceiling on gold purchase without PAN card, bullion merchants in the state will down their shutters on February 10. This is against a Central government order which makes it mandatory for gold buyers to produce PAN card on gold purchase of above Rs two lakh. It was Rs five lakh earlier
Spot gold stepped back on Monday from a three-month top hit the session before, after a US jobs report cast some doubt over prospects for a quicker....
The gold price edged higher during Asian trading hours on Wednesday but remain capped by resistance after hitting a three-month high of $1,131.10 p....
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