Two leading banks, State Bank of India and HDFC Bank, have sought permission from the Reserve Bank of India (RBI) to buy gold from retail investors.
'India has formed tremendous resilience and still a strong growth.'
The government's ambitious gold deposit scheme can succeed only if depositors are paid a higher interest rate.
The yellow metal has risen 6.6 per cent since mid-August
India imported 967 tonnes of gold in 2014-15.
India made it mandatory for customers to disclose their tax code, or Permanent Account Number (PAN), for purchases above Rs 200,000.
Movements in gold prices will depend on the US' interest rates.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
Bullion may settle with limited upside potential
'Then select those that are well-aligned with your risk-return profile and investment time horizon.'
At face value of Rs 2,893 and interest payout of 2.5 per cent, sovereign gold bonds offer best route to invest in yellow metal, says Tinesh Bhasin
The Finance Ministry has sought comments from stakeholders.
The recently approved government scheme provides both liquidity and returns.
Around $200 million worth of deposits of Indian start-ups have been withdrawn from Silicon Valley Bank (SVB), which was taken over by US banking regulators last week after it collapsed, and moved to the Gujarat International Finance Tec-City (GIFT City) IFSC, Rajeev Chandrasekhar, minister of state (MoS) for electronics and information technology said on Thursday. "It turns out that there was over a billion dollars of deposits of Indian start-ups in SVB. "The existential, solvency crisis that was there six-seven days ago has become much more manageable, even the short-term liquidity crisis is being addressed as the bank allows access to deposits," the minister said while speaking at Lenovo's Tech World India Edition event.
Gold was among the least bruised by Monday's selloff, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.
Good monsoon, farm loan waiver -- the two key reasons behind more customers in jewellery shops
A downturn in Indian demand could hit global gold prices.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
Rebalance the portfolio at least once a year to ensure it remains in sync with the target asset allocation.
The country's foreign exchange reserves declined by $7.541 billion to $572.712 billion in the week ended July 15 as the Reserve Bank continued to intervene in the market to curb the fall of the rupee. In the previous week ended July 8, the reserves shrunk by $8.06 billion to $580.25 billion, the Reserve Bank of India (RBI) data showed on Friday. On Friday, the rupee fell by 5 paise to close at 79.90 against the US dollar.
Gold schemes are offering attractive returns to investors.
Risk-averse investors can hold up to 10 per cent of their portfolio in gold, while aggressive ones can keep five per cent.
Going ahead, the likely implementation of the goods and services tax bill in July and how the monsoons play out will have a bearing on India's demand for gold and gold jewellery
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
Silver also fell further by Rs 150 to Rs 34,200 per kg.
'Markets could face uncertainty in the short to medium term.' 'It would be prudent to invest in alternative asset classes, especially debt, for about a year.' 'Bank fixed deposits are offering rates as high as 9 per cent per annum and these can be used as a great hedging tool until equity markets stabilise.'
Mutual funds have launched a clutch of new fund offers in the silver ETF (exchange traded fund) category this year and collected Rs 1,400 crore in assets after the introduction of the newly-created investment asset class by market regulator Sebi in 2021. Further, fund houses including Kotak Asset Management Company have filed draft documents with the markets regulator to float silver ETF as well as silver ETF fund of funds for investors, information with the Securities and Exchange Board of India (Sebi) showed. These NFOs (new fund offers) are providing an opportunity to the investors to digitally invest and own silver which is easily tradable during market hours.
While one must recognise that we are towards the end of a long bearish trend, there is little evidence of the capitulation that is necessary for a confirmation to the end, says Sonali Ranade
'Markets are not expensive; they are fairly priced.'
In India, gold breached all previous records to hit the high of Rs 14,320 per 10 gm taking consumers and stockiest out of the trading floors.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
The yellow metal dropped Rs 400 at Rs 11,550 per 10 gram, a level last seen on Sept 11, on brisk selling by stockists and investors after the Bombay Stock Exchange benchmark Sensex recorded a second steepest fall in its history. The stock markets nosedived and bullion prices collapsed after the Reserve Bank of India kept interest rates unchanged and downgraded the national economic growth to 7.5 per cent.
It was a year of stocks shining bright when it comes to adding to the investors' wealth, and the glitter of gold and silver fading for the second straight year in 2013.
To mark World Whiskey Day, a toast to its memorable imagery in Hindi films.
Overall market benchmark Sensex is headed for its worst performance in four years with a decline of 1,650 points
The balance sheet of the Reserve Bank plays a critical role in the functioning of the country's economy.
But the industry's chief executives remain confident of the long-term growth potential of NBFCs in India, given their specialised lending on the asset side, last-mile reach, and a well-capitalised balance sheet. "Over the years, NBFCs have faced many crises.
'It's important that every portfolio is well diversified.' 'My own portfolio is diversified across asset classes: 50% is in equity funds, 15% in international schemes, 25% in debt funds and 10% in sovereign gold bonds.'
Why did the company zero in on RBL Bank to understand the business of banking? While the M&M investors heaved a sigh of relief, one gentleman must have been all smiles after this, RBL Bank MD and CEO R Subramaniakumar, notes Tamal Bandyopadhyay.
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