Gold prices are likely to trade firm next week as traders await key economic data, including US inflation numbers, for fresh cues on interest rate outlook, while silver may remain volatile amid shifting risk sentiment and speculative activity, analysts said.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
Gold and silver prices are expected to maintain their upward trajectory this week, but may see late profit-booking amid the release of a series of crucial global economic indicators, analysts said. On the economic front, traders will closely monitor the manufacturing/ services PMI data from across regions and the US non-farm payrolls/ employment data along with consumer confidence for the month of September and speeches from several Federal Reserve officials, they added.
Gold prices are expected to maintain their upward momentum though some consolidation could set in ahead of the US Federal Reserve's policy decision on September 17, analysts said. Traders will focus on the trade inflation data to gauge the impact of tariffs, inflation numbers from major economies including UK and Euro zone, along with monetary policy meetings of Bank of England and Bank of Japan which will provide more guidance for bullion prices, they added.
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.
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.
The Income-Tax (I-T) Department has detected widespread tax evasion involving cryptocurrencies and, according to media reports, has issued emails to thousands of defaulting taxpayers seeking transaction details. Investors must understand the tax rules governing crypto assets and respond promptly to these emails.
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.
A Chinese team of virologists has discovered a new bat coronavirus that can infect human cells, raising concerns about potential animal-to-human transmission. The virus, a new lineage of the HKU5 coronavirus, uses the same human receptor as the virus that causes COVID-19. The study, led by Shi Zhengli, a prominent virologist at the Wuhan Institute of Virology, was published in the journal Cell. The discovery comes amid ongoing scrutiny of the Wuhan lab, which was previously accused of being the source of the COVID-19 pandemic. The Chinese government has denied any involvement in the virus's origin and insists that the Wuhan lab never engaged in gain-of-function studies on coronaviruses.
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.
Asian Games medallist Anush Agarwalla crashed out of the Equestrian event, finishing a below-par ninth in his group in the individual dressage category at the Paris Olympics
High praise for Cafe A LA Mer from Kohli, who owns a couple of swanky restaurants in India and is very particular about his diet.
Lakshya had struggled through much of 2023 and early part of 2024. He fell behind in the qualification race but turned things around in time with two semi-final finishes at the All England Championship and the French Open to seal his place in the Olympics.
India's headline retail inflation is expected to moderate further in the months to come, as low wholesale inflation will transmit to consumer prices, the Ministry of Finance said in its latest monthly economic review (MER) on Monday. "Inflationary pressures eased in February, with slight moderation in Consumer Price Index (CPI) inflation and Wholesale Price Index (WPI) inflation softening to a 25-month low. "With WPI inflation easing, its transmission to CPI inflation is soon expected," the MER for February said.
Investors' desire for companies to prioritise returning cash to shareholders through share buybacks, dividends or mergers and acquisitions (M&A) is at the highest level since July 2015, said a survey by BofA Securities (BofA). Nearly 30 per cent of respondents wanted companies to do so. As many as 226 respondents with $572 billion worth of assets under management (AUM) participated in the March fund manager survey (FMS), said BofA.
India's consumer price index (CPI)-based inflation could ease in the coming months thanks to the arrival of kharif crops, lower international commodity prices, and a pass through of lower input costs to consumers, the finance ministry said in its Monthly Economic Review (MER) for October, which was released on Thursday. The MER, however, warned that the global macroeconomic situation remained precarious and a recession in many advanced economies would impact India's exports. "Easing international commodity prices and new Kharif arrival are set to dampen inflationary pressures in the coming months.
The Gujarat government told the Supreme Court on Thursday that the petitioners who have sought a probe into the alleged fake encounters in the state from 2002 to 2006 need to explain the reasons for their "selective public interest" in raising the issue.
This is Union Health Minister Mansukh Mandaviya's maiden Lok Sabha election, but political experts and voters feel he can easily win Porbandar seat in his home state Gujarat, despite the electorate facing some key issues like unemployment.
Get a new QR code from an alternative provider. PhonePe, Google Pay, Pine Labs, etc are some of the other service providers.
Instead of killing bat cells as the virus does with human cells, the MERS coronavirus enters a long-term relationship with the host, maintained by the bat's unique 'super' immune system
The apex court was hearing separate pleas filed in 2007 by senior journalist BG Verghese, and noted lyricist Javed Akhtar and Shabnam Hashmi, seeking a probe into the alleged fake encounters.
Here are some of the controversies, which cast a shadow on Indian sport as the athletes prepared for the Asian Games.
Mehta said both the petitioners were not from Gujarat and it needs to be seen whether in such case a writ petition can be filed.
Common symptoms of the novel coronavirus (nCoV) strain, which has infected more than 300 people since the outbreak in Wuhan in December, include respiratory symptoms such as fever, cough, shortness of breath and breathing difficulties, the WHO said
Reliance Jio may not ask for a premium for its 5G services in the initial stages of the launch, according to sources in the company. The company will roll out 5G commercial services in four cities -Delhi, Mumbai, Chennai, and Kolkata - around Diwali this month and slowly ramp up the processes for other cities, too. A senior executive, when asked whether Jio will charge higher tariffs for 5G against 4G, said: "In the initial stages, customers have to adopt 5G, then they will have to find value in the service, and then one can look at monetisation."
'However, the importance of children in transmitting the virus remains uncertain,' the scientists cautioned in the study. 'Coronaviruses are a large family of viruses that can cause infection and disease in animals, capable of rapid mutation and recombination, leading to novel viruses that can spread from animals to humans,' they said.
India's inflation trajectory in the coming months will be influenced more by the geo-political situation due to the war in Europe and its impact on supply chains and commodity prices. However, the country is better placed than most to "weather the storm" and achieve growth of close to 8 per cent in the current fiscal year, the finance ministry said in its latest monthly economic report on Thursday. "Through the channel of imports, elevated global crude and edible oil prices now have a significant impact on India's inflation outlook. "Government measures to keep the prices of these commodities in check, along with the recent hike in policy rates by the RBI, are expected to temper inflationary pressures in the economy," the monthly economic report for April, drafted by the finance ministry's economic division, said.
These are the 25 seats to watch out for as Gujarat goes to the polls over two phases on December 1 and 5.
What might be useful is targeted assistance to those sectors and individuals that are disproportionately affected, suggests Mihir S Sharma.
A study by second-hand car dealer CARS 24 showed 42 per cent of the consumer feel the need for a car to travel safely now. Those who used cabs to commute before the pandemic want to buy a car for the family and a two-wheeler for shorter runs.
The affected nurse is being treated and is recovering well, junior foreign minister V Muraleedharan said. Meanwhile, China has locked down five cities, including Wuhan, suspending all public transport in an unprecedented move to contain the coronavirus that has infected over 630 people and left 17 others dead.
The COVID-19 vaccines can be "tweaked" to provide protection against new variants of the virus, All India Institute of Medical Sciences (AIIMS), Delhi, Director Dr Randeep Guleria said.
The Delta variant is more transmissible than the viruses that cause MERS, SARS, Ebola, the common cold, the seasonal flu and smallpox, and it is as contagious as chickenpox, according to the document, a copy of which was also obtained by The New York Times.
'At the current time, we should be vaccinating all those who are potentially going to get more severe illness, before we start vaccinating very young individuals.'
Consumers can expect a 5G launch in the country soon. Telecom companies (telcos) say if auctions take place on time - the target is July - they would be able to offer some services in a few cities by the end of this year and a full roll-out from 2023. But the question is: will 5G turn the tables for telcos financially? Will average revenue per user (ARPU) improve? Will mobile consumers upgrade to 5G quickly and pay more? Will the expanded functions that 5G enables drum up sufficient revenues? In simple terms, will telcos make more money?
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With the Supreme Court not getting into the valuation part and leaving it to the two parties, lawyers said there was nothing much for Mistry Group to negotiate.
The government's main rate setting panel suggested that this be done in two tranches of Rs 2,500 each in the kharif and rabi seasons.
Asked what India did not do and China did right in restricting the number of cases, Paul said the principles that China adopted were exactly the same that India had adopted in terms of containment, social distancing and other non pharmacological measures.
Meticulous hand washing is your best bet to get rid of the grime that clings to the hand, that might harbour nasty pathogens, including the coronavirus.
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