Gold prices rose further by Rs 210 to Rs 27,210 per ten gram in New Delhi on Wednesday on increased buying by jewellers and retailers to meet upcoming festive and wedding season demand amid a firming global trend.
Gold prices hit a record high in India on Wednesday as global prices surged on war fears, bringing professional bullion trade in the country to a standstill and drawing queues of sellers at jewellery shops.
The consumer price index (CPI)-based inflation hitting an all-time low in October would encourage the six-member monetary policy committee (MPC) of the Reserve Bank of India (RBI) to cut the policy repo rate in its upcoming December 3-5 meeting. However, the July-September GDP growth, expected to be above 7 per cent, may act as a deterrent.
Traders said increased selling by stockists, tracking a weak trend overseas as investors awaited US employment data that may show the economy is strengthening, mainly dampened the sentiment.
The analysts believe that the rate cut would put downward pressure on the US dollar, thus boosting the gold prices in the non-dollar currency markets.
'While investing in a silver ETF, one should be aware that it has historically exhibited higher price volatility than gold.'
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
New investors should gradually build a 5 to 10 per cent allocation to gold.
Gold prices nose-dived across the country on Friday on panic selling by stockists, triggered by a fall in overseas markets amidst off marriage and festival season and recorded losses between Rs 100 and Rs 180 per ten gram.
Passive funds appeal to investors seeking to avoid the risk of underperformance by the fund manager and minimise the need for frequent chopping and changing of funds.
India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent.
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.
Gold prices touched a new peak of Rs 6,830 per ten gram on the bullion market today on brisk buying by stockists to meet the ongoing festival and marriage demand, discounting reports of a weak international trend.
'It has got to be the biggest error in aviation. If it is the biggest error, then all those individuals in positions of power should be removed because they have caused the biggest meltdown in Indian aviation history.'
Strong margins in the jewellery segment in Q4FY25, steady growth guidance for FY26 and expectations of outperformance in the organised jewellery sector boosted sentiment for the largest listed jewellery maker by market capitalisation, Titan Company. The stock was the highest gainer on the benchmark indices (Sensex as well as Nifty), rising 4.1-4.5 per cent at close on Friday, taking the total gains over the past month to about 12 per cent.
Anticipation of favourable policies under a stable govt at the Centre, aided by a possibly stronger rupee, are expected to bring bullion price down.
The demand for gold demand is expected to pick up after August with its price expected to touch the Rs 13,500 per 10 grams mark, a top industry official said.
Gold prices on Thursday scaled to Rs 6,800 per ten gram, a level never seen before in the history of bullion market in New Delhi, as stockists indulged in brisk buying triggered by a firm international trend.
Silver shot up by Rs 660 to Rs 44,600 per kg
Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India (RBI), is not intended to replace any international currency.
Gold prices hit a two-year lows, the biggest one-day drop since 1983.
Buying had been muted in the past few weeks.
Silver also dropped by Rs 400 to Rs 45,600 per kg on reduced offtake by industrial units and coin makers.
Do home prices really never fall? Ramalingam Kalirajan begs to differ.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
Gold prices are expected to slump by 5 per cent before the end of this month to $855 per ounce as leaders of G-20 nations agreed on Thursday that the International Monetary Fund should sell gold from its reserve to help stimulate the world economy.
Gold prices may rise above $1,300 per troy ounce by 2011 on record demand from investors worried about inflation, currencies and sovereign debt, a survey by the United Kingdom-based consultancy GFMS has said.
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
The previous record of gold price was Rs 32,900, set on September 14.
Gold prices crashed by another Rs 130 at Rs 7,335 per 10 gram on the bullion market today on sustained selling by stockists and speculators largely fueled by a weakening trend in Asian markets. \n
Following the Reserve Bank easing he 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali.
The metal sees 10% drop in a month; it is expected to fall to about Rs 25,000/10g in the near future.
Gold in Singapore, which normally sets price trend on the domestic front, rose 0.5 per cent to $1,206.30 an ounce.
The gold prices may rebound to Rs 13,000-level in the domestic markets by June if rupee remains resilient against the US currency, experts believe. Dollar denominated gold gets cheaper when the rupee rises against the greenback.
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.
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
Gold prices in India soared to record highs on Thursday, prompting many people in the world's largest bullion consumer to sell old stock, traders said.
Interest in green living is rising, with clean air and open spaces becoming key selling points for residential projects, particularly as Indian cities struggle with deteriorating air quality.
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