Gold and silver prices update: In the last market movement, gold prices decreased on the afternoon of the day before Good Friday’s holiday, with the futures of June in the exchange of multiple basic products (MCX) that fell by 0.44 percent or RS 422 to close at 95,661 of RS 95.661. The silver also rose lower, falling 0.04 percent or RS 36 to settle in RS 95.037.
Today, on April 18, the MCX and the International Gold Market Willin closed in observance of Good Friday, with the morning and night commercial sessions. Normal trade is scheduled to resume Monday morning.
International tendency
In the International Front, significant changes are being made in world gold trade. Gold is beginning to return to Switzerland from the United States after being excluded from the last round of American tariffs imposed under the renewed commercial policy of President Donald Trump.
Since December, merchants had been flying large amounts of gold to New York as a safeguarding against the possibility that tariffs to beating imports are applied. However, after the recently of Washington’s decision to exempt precious metals of the new tariff structure, that trend is reversing.
Swiss customs data published Thursday show gold imports from the US to a maximum of 13 months of maximum or 25.5 metric tons in March, compared to 12.1 tons in February. Meanwhile, Swiss gold exports to the United States fell sharply at 32 percent from month to month, totaling 103.2 tons.
CEMEX data, a division of the CME group, indicate that US gold warehouses have now registered eight consecutive days of exits, a streak that is not seen in more than a year. This occurs as the premium in the Futures of US gold. UU. It has decreased after months of logistics congestion and price dislocation.
From December to March, more than $ 80 billion were delivered in Golt, Silver and Platinum to the Comex stores, maintaining the Swiss refineries and the active unusual logistics companies.
The Gold of Comex inventories have fallen by 1.5 million ounces of Troy, with the value of approximately $ 4.8 billion, reaching its maximum point in a historical maximum or 45.1 million ounces on April 4. Inventions began to rise in November when triumphs.
“Part of the gold that is now leaving the vaults of the United States returns to Switzerland, the global refining and transit center of linges,” said a source of a Swiss refinery. However, the source pointed out that it is likely that the departures of the United States remain modest, since national holdings continue to act a coverage that requires geopolical and economic uncertainty.
According to the independent analyst Ross Norman, the United States generally consumes about 115 tons of physical gold annually in the form of coins and bars. Based on current warehouse holdings, the so -called Kilobars inventory in facilities registered by CME could support this market segment for more than a decade.
