Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
Gold prices are likely to remain in a consolidation phase in the near term, but the overall bias will continue to stay positive amid heightened expectations of a US Federal Reserve rate cut in its September policy meeting, analysts said. Traders will closely track US macroeconomic data, such as Q2 GDP, PCE inflation, and speeches from Fed officials, which will provide more insights into the monetary policy stance of the Federal Reserve and the trajectory of the bullion sentiment, they added.
The contrast with the old Income-Tax Act is stark. The 1961 law ran into 512,000 words; the 2025 one pares that down to 259,000. Chapters have been cut from 47 to 23, while sections have reduced from 819 to 536. One of the clearest changes is terminological. The confusing twin concepts of 'assessment year' and 'previous year' have been scrapped.
Gold prices are expected to witness further consolidation in the coming week as investors brace for a slew of events, ranging from central bank meetings, including the US Federal Open Market Committee (FOMC) meeting's outcome, to global trade negotiations, analysts said.
A chargesheet filed by Andhra Pradesh police in connection with the Rs 3,500 crore alleged liquor scam mentions former chief minister YS Jagan Mohan Reddy as one of the recipients of kickbacks. The chargesheet alleges a complex scheme involving shell companies, policy manipulation, and extortion to generate funds that were ultimately routed to Jagan Mohan Reddy.
Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 on Friday.
Gold import from the UAE at a lower rate of duty -- in terms of an agreement -- has posed a survival challenge for the Indian refining industry while hurting the price discovery of the metal, with the India International Bullion Exchange starting operations at GIFT City. The problem has arisen after the government signed the Comprehensive Economic Partnership Agreement (CEPA) with the UAE. Under it, Indian jewellery manufacturers have been allowed to import gold at a concessional rate of 14 per cent against 15 per cent, which is normal.
Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on Wednesday on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association. Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
The trigger for international gold prices rising to $3,000 per ounce was Germany's upcoming heavy government borrowing.
Tenants should primarily buy contents insurance. 'This covers personal belongings like electronics, furniture, clothes, and appliances against risks such as fire, theft, floods, and other natural calamities.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
'Investors' decisions should reflect their financial goals, risk tolerance, and the amount of gold already present in their portfolio.'
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Rather than dwindle, global liquidity looks well poised to grow in India at least for the next few years.
'If gold's recent surge has increased its allocation beyond 15 per cent in your portfolio, now may be a good time to rebalance.'
Sambhal, Uttar Pradesh, remains on high alert following violence that erupted on November 24 over a court-ordered survey of the Shahi Jama Masjid. Police have deployed heavy security ahead of Friday prayers and a court hearing on the survey, which is expected to be tense. The violence, which left four people dead and several injured, stemmed from claims that a Harihar temple previously stood at the site of the mosque.
Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
Anil Ambani group firm Reliance Money on Monday joined hands with the Bombay Stock Exchange and the Bombay Bullion Association to launch the country's first organised bullion trading platform.The over-the-counter 'Bullion Spot Market' would be the first of its kind and would be operationalised within a month, the Anil Dhirubhai Ambani Group announced.
Gold sales on Dhanteras are estimated to drop 10 per cent in volume terms year-on-year on sharp 33 per cent annual rise in rates of the yellow metal, according to industry players. Since Dhanteras -- the most auspicious day in the Hindu calendar for buying items ranging from precious metals to utensils -- is celebrated on two days till 1.11 pm on Wednesday, jewellers are expecting more footfalls in both online and offline stores.
Dealers expect prices to fall further, owing to an impending rate hike in the US
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Our politicians need to take a leaf out of Mr Trump's personalised merchandise sale: It keeps his image in the public eye, continuing to engage him differently and innovatively with his supporters, points out Sandeep Goyal.
The National Spot Exchange Ltd (NSEL), an arm of Multi Commodity Exchange (MCX), is planning to launch gold and silver (bullion) contracts in spot market in Kolkata by end of this month.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
Declining volumes in agriculture commodities are prompting the commodity bourses to aggressively focus on futures trading in bullion, metals and energy products.
Correcting a serious anomaly in the value added tax structure, an official committee on Monday prevailed upon Delhi, Rajasthan, Uttar Pradesh and Gujarat to maintain uniform tax rates on bullion.
Most of the bullion markets and jewellery showrooms remained closed in major cities.
The exchange has formed a new company -- NCDEX Spot Exchange--and senior officials said bullion will be one of the important products in spot market trading.
Another PSU has entered the arena of bullion Futures market. In a recent development, the Handicrafts & Handlooms Exports Corporation of India, a PSU under the ministry of textiles, has started hedging in bullion metals at the Multi Commodity Exchange. According to the PSU officials, it has hedged Rs 13 crore in gold and silver over the last one month.
The identity of the informant shall be kept a secret, it said.
Bullion dealers said higher overseas market advices have led traders to stock more gold, leading the metal to end Rs 5 higher at Rs 8,725 per ten gram.
India's gold and silver imports from its free trade agreement (FTA) partner UAE have skyrocketed 210 per cent to $10.7 billion in 2023-24 and there is a need to potentially revise the concessional customs duty rates under the pact to mitigate the arbitrage driving this surge, a report said on Monday. Economic think tank Global Trade Research Initiative (GTRI) said this sharp rise in gold and silver imports is primarily driven by import duty concessions granted by India to the UAE under the India-UAE Comprehensive Economic Partnership Agreement (CEPA).
The government has made PAN card mandatory from January 1.
Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid lack of investor euphoria as regards the yellow metal. "Recent developments show a distinct lack of investor euphoria as regards gold, the question remains what is driving the current rally.
The scheme is yet to take off.
Precious metals recovered on the bullion market on revival of buying by stockists and investors amid diversion of some funds from the falling stock markets, and closed with notable gains.
The Enforcement Directorate (ED) has summoned Rajkot-based bullion trader Pankaj Lodhiya, whose name figured in the list of black money holders submitted by the government to the Supreme Court, to probe if he was involved in hawala trade.
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