rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn.
'And when I say sabotage I mean people who are not happy to see India rise as a sporting nation. This girl has been through so much, your heart breaks for her. What more could she have done? Which other test?'
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
The best part is that an investor gets price appreciation and earns interest income as well, which is unique only to sovereign gold bond.
If the cashless request is denied, the entire cost may need to be paid for planned treatments.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
The Madras high court has directed the Tamil Nadu Crime Branch-CID police to probe the case of 'missing' gold, which left the country's premier investigating agency red-faced.
India's merchandise exports in April 2024 marginally rose to $34.99 billion from $34.62 billion in the year-ago month, according to government data released on Wednesday. Imports too increased to $54.09 billion from $49.06 billion in April 2023.
Gold demand appears to be positive in India as the consumer sentiment is likely to recover in 2021, from its dismal performance due to the coronavirus pandemic-related disruptions and volatile price movement, according to a report by the World Gold Council (WGC). Initial data about the Dhanteras festival in November suggest that while jewellery demand was still below average, it had substantially recovered from the lows seen in the second quarter (April-June 2020) of last year, according to the report.
'Gold could return 10% to 12% in the next two-three years.'
You also avoid capital gains tax during redemption in case the gold price is higher, making them tax efficient.
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.
On the day RBI announced a slew of measures to suck liquidity from the system to stem rupee volatility, a senior SBI official had told PTI that the bank was carrying an actual lendable surplus of Rs 20,000 crore (Rs 200 billion).
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
'We have entered the commodity space with a long-term view.'
On gold buying occasions such as Akshaya Tritiya, Chiraj Mehta points out, investors are often confronted with the question: Should I make just a token purchase, or should I buy more towards building my allocation in the yellow metal?
On July 15, the Reserve Bank put in place measures to restore stability in the foreign exchange market, including raising the Marginal Standing Facility and bank rates to 10.25 per cent and restricting access by way of repos to Rs 75,000 crore (Rs 750 billion).
Analysts say investors should increase their exposure to gold up to 10% of their portfolio, depending on their comfort with a 2-year horizon. But avoid investing in physical gold or deposit schemes run by jewellers
Once a stock market darling, the jewellery chain heads for liquidation.
Despite returns from gold down over 5% in the past three months, it is a good idea to keep this asset class in your portfolio.
'Indian single malts have a very specific character.' 'They are sweet when you take a frontal palette approach and change significantly with the addition of water.'
Gold, which was hovering around $1,321 an ounce in January 2019, has already breached $1,600 per ounce in the past few sessions to a seven-year high.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
Any liquid money that gold replaces for CRR or SLR compliance will allow banks to use this 'extra' cash for lending to borrowers
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
Gold demand fell 15 percent in 2013 as huge outflows from physically backed investment funds outweighed record consumer demand, but that heavy disinvestment is tailing off this year, pointing to a recovery, the World Gold Council said.
Shares of Bajaj Finance sprinted 4.7 per cent to Rs 7,732 per share on the BSE in Thursday's (January 4) intra-day trade as the non-bank finance company's (NBFC's) December quarter business update reflected minimal impact of the Reserve Bank of India's ban on two of its lending products. The shares, eventually, ended 4.4 per cent higher at Rs 7,710 per share as against 0.69 per cent gain in the benchmark S&P BSE Sensex. The NBFC's asset under management (AUM) topped the Rs 3-trillion-mark at the end of December 2023, swelling by roughly Rs 20,700 crore (35 per cent year-on-year) to hit Rs 3.11 trillion-mark.
Spot gold was bid up at $1268.30 in early European trading and silver also moved up at $17.42 an ounce.
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.
The securities regulator's approval for the first US-listed exchange traded funds (ETF) to track bitcoin has given Indian cryptocurrency companies hope that the move would create domestic support for the digital assets. The US Securities and Exchange Commission (SEC) on Thursday approved 11 ETFs for bitcoin, perhaps the most popular virtual currency. It would enable investors to access bitcoin without challenges such as setting up wallets or accounts with crypto exchanges that have previously suffered cyberattacks or implosion.
Dhanteras is considered auspicious for investment and buying gold.
Dwaipayan Bose simplifies the whys and hows of revisiting your financial goals
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Gold is one of the most influential financial instruments in the India. Banks, NBFCs and unorganised lenders are actively engaged in providing loans against gold value.
The country's two biggest state-run lenders on Saturday pitched for treating a portion of their gold deposits as part of the mandatory cash reserve ratio (CRR) or statutory liquidity ratio (SLR), both of which banks consider as non-productive.
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