Many offer personalised ornaments with 3D printed images and engraved names to lure customers in a scenario of high gold prices.
Silver, however, fell for the third straight session by losing Rs 200 to Rs 43,800 per kg on lack of buying support from coin makers and industrial units.
Gold rebounds after 3-day fall on renewed demand, global cues.
Recovery is attributed to higher domestic demand, export orders and import by NRIs.
Mumbai, May 14 (PTI) The massive spike in trade deficit caused by sharp rise in gold imports in April would not sustain and there is no need to get excessively worried over the data, analysts have said. They also said the current account deficit or the difference between the foreign exchan ...
Mahindra is coming up with the Thar Roxx. MG Motor India announced a third electric vehicle Windsor. Hyundai and Kia are expected to introduce updated versions of the Alcazar and Carnival respectively.
Silver also slumped by Rs 1,700 to Rs 37,200 per kg.
After demonetisation, demand jumped as many people with unaccounted money bought the yellow metal.
Gold, which lost its sheen to some extent in the second half of 2021, is likely to regain the glitter in the New Year and cross the Rs 55,000-per-10-grams level amid pandemic woes, inflation worries and stronger US dollar. After a stellar run up in 2020 when the yellow metal touched a record high of Rs 56,200 on the MCX in August, the prices are near Rs 48,000 per 10 grams now. This is roughly 14 per cent lower from the all-time highs and 4 per cent lesser compared to January 2021 levels.
The yellow metal had shed Rs 20 on Tuesday.
Investors may take a 5 to 10 per cent exposure to silver. 'Have a long-term investment horizon when investing in silver ETFs to ride out short-term market fluctuations.'
Meet India's top athletes at Olympics 2024.
Price up on weak dollar and strong demand
After remaining in the positive zone for three months, India's exports contracted 1.2 per cent to $33.98 billion in July, while the trade deficit widened to $23.5 billion.
The price of gold in India seems to have bottomed out.
New gold schemes may perform better than previous plans: UBS.
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
Titan posted better than expected revenue growth in the March quarter of the financial year 2022-23 (Q4FY23), powered by strong demand trends in the jewellery and watch segment. Standalone jewellery sales for the firm were up 24 per cent year-on-year (YoY) on a slightly lower base and aided by like-to-like growth of 19 per cent. The company highlighted that new buyer growth was at 15 per cent while average ticket size was up 8 per cent.
Globally, gold lost 0.8 per cent to $1,154.60 an ounce.
Dealers are selling gold at a discount of Rs 175 for 10 gm.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
'With passage of time, Kamal did move away from the humdrum of commercial cinema, using it only as a peg to launch a new concept or new technology, as no other actor/film-maker has done in Indian cinema.' N Sathiya Moorthy assesses the career and politics of movie legend Kamal Haasan on his 70th brthday.
Many of our leading men and women are also all for dramatic physical transformation for the sake of artistic authenticity.
Veterans recall they haven't seen gold falling for 3 years in a row.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Retail companies are expected to witness a tepid strong same-store sales growth (SSSG) expansion in the third quarter (October - December) of the current financial year (Q3FY24) on the back of subdued sales in the festival season. The third quarter of the financial year typically witnesses higher sales since it coincides with the festival season. This time around, weak customer sentiment has dragged down SSSG.
Gold remained weak for the second straight day with prices falling by another Rs 30 to Rs 26,750 per ten gram at the bullion market in New Delhi on easing of demand from jewellers and retailers amid a weak global trend.
Gold in Singapore, which normally sets price trend on the domestic front, fell by 0.3 per cent to $1,180.78 an ounce.
Falling for the sixth straight day, gold prices drifted by another Rs 70 to trade at fresh two-month low of Rs 26,680 per ten grams at the bullion market on Friday, tracking a weak global trend amid slackened demand from jewellers and retailers.
U K Sinha said the equity market also helps in the growth of the Indian economy as the money invested in equities is utilised for infrastructure-building
The precious metal has now lost Rs 280 in last three days.
These imports grew 89 per cent to $8.39 billion in May.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Gold prices surged by Rs 650 to Rs 31,200 per ten gram on heavy purchases by stockists and retailers for the marriage season and approaching 'Diwali' festival.
'Like every Budget, this time, too, there is chatter around tinkering with the long-term capital gains tax.' 'Investors may not want to jump into the markets until there is clarity on this front.'
Silver followed suit, which traded lower by Rs 260 to Rs 38,540 per kg.
While gold spurted by Rs 220 to Rs 30,520 per 10 grams, silver shot up by Rs 1,000 to Rs 54,000 per kg on increased offtake by jewellers and industrial units.
Silver, however, remained weak and fell by Rs 130 to Rs 39,600 per kg due to slackened demand from industrial units.
Silver met with resistance and fell by Rs 200 to Rs 36,000 per kg.
Traders said heavy selling by stockists against fall in demand at prevailing higher levels mainly kept pressure on gold prices.
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