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.
Silver traded lower by Rs 135 to Rs 36,750 per kg.
India's Diwali sales touched a record Rs 6.05 lakh crore -- comprising Rs 5.40 lakh crore in goods and Rs 65,000 crore in services -- buoyed by the recent GST reform and strong consumer sentiment, traders' lobby CAIT said on Tuesday. The Confederation of All India Traders (CAIT) based its findings on a nation-wide survey across 60 major distribution centres including state capitals and Tier 2 & 3 cities conducted by its research wing.
The Reserve Bank of India's (RBI's) draft guidelines on gold loans, if implemented in their current form, are expected to impact non-banking financial companies (NBFCs) and mid-tier banks in the near term, more significantly than larger banks, according to analysts.
Multi-asset allocation funds (MAAFs) have emerged as strong performers among mutual funds (MFs), rivalling medium-term returns from traditional equity categories while maintaining a lower risk profile. Over the past three years, average returns for this segment have surpassed those of flexicap and largecap funds, for both lump sum and systematic investment plan (SIP) investments.
It can touch Rs 32,500 per 10 gram.
After a year of modest returns, equity investors may anticipate gains of 10-15 per cent in Samvat 2082, which began on October 21. Although valuations have moderated from their peaks a year earlier, they remain above long-term averages, potentially limiting sharp upsides.
The demand for gold is expected to take a hit if the price of the yellow metal - which has been hovering around Rs 60,000, a level never seen before - remains elevated. Due to a sharp increase in price in a very short time and the flow of smuggled gold continuing, gold price in Mumbai is quoted at around Rs 59,000 per 10 gram. Typically, overall demand in the January-March and July-September quarters is moderate-to-dull, which is the case in the ongoing period.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
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.
In the overseas markets, which normally sets price trend on the domestic front, gold traded a shade higher by 0.05 per cent to $1,319 an ounce and silver by 0.14 per cent to $20.93 an ounce in New York in Tuesday's trade.
Two-thirds of gold demand in India comes from rural areas where jewellery is a traditional store of wealth.
Gold prices recovered by Rs 210.
Bombay Bullion Association to develop a software for the same.
Gold prices hit a fresh record high of Rs 84,900 per 10 grams in the national capital on Friday, driven by robust domestic demand and strong global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity continued its ascent for the third straight session, jumping by Rs 1,100 to hit a new peak of Rs 84,900 per 10 grams.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
Silver also dropped by Rs 400 to Rs 35,650 per kg.
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
Bullion traders attributed the fall in gold prices to a weakening global trend after the US added the largest number of jobs in almost three years, fuelling concerns that the Federal Reserve will move closer to raising interest rates.
The rupee is undervalued as compared to its peers, shows the latest data from the Reserve Bank of India (RBI), even as the local currency keeps hitting new lows.
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
Inflows into gold exchange-traded funds (ETFs), which manage a total of Rs 37,390 crore, have surged sharply in recent months. This trend is likely to continue, especially after the reintroduction of long-term capital gains tax (LTCG), which is likely to attract smart money into mutual fund offerings amid a robust outlook for the yellow metal. Smart money, also known as opportunistic flows, refers to strategic investments that are generally of a short-term horizon.
Ahead of the mini-auction, scheduled to be held in Doha on December 26, the 10 franchises have released their list of retained and released players.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
Gold prices on Wednesday jumped to all-time high of Rs 30,420 per 10 grams in the bullion market here on the back of soaring demand ahead of the wedding season amid firming trends in global markets.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Gold prices fell further at the local bullion market on Saturday due to reduced off-take by stockists as well as lack of local buying support at the existing levels.
Traders said persistent buying by jewellers and retailers to meet the festive season demand and a firming global trend as the drop to this year's low lured Chinese buyers returning from a week-long break, mainly kept gold prices higher.
Bullion traders said a weakening trend in global markets, as the dollar's strength eroded demand, mainly put pressure on the precious metal.
Traders said sentiments turned bearish after gold fell to three-week low in global markets as a stronger dollar curbed demand after the Federal Reserve ended its asset-purchase programme because of an improving labour market.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
The searches by the ED also covered certain vehicle owners, auto workshops, and traders in Ernakulam, Thrissur, Kozhikode, Malappuram, Kottayam and Coimbatore (Tamil Nadu).
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
Amazon India unveiled a dedicated marketplace section highlighting products with reduced tax burdens as the goods and services tax (GST) restructuring took effect on September 22, positioning the ecommerce giant to capitalise on lower consumer prices across electronics, appliances, and other categories. Its rival Flipkart, too, has rolled out its own GST-focused storefront, the GST Bachat Utsav, aimed at helping shoppers maximise benefits from the new tax rates across multiple categories.
'The primary market's rhythm mirrors investor confidence. While sentiment may appear cautious, it reflects maturity, not weakness.'
Most investors should have a 5% to 10% allocation to gold for diversification. They should stagger their investments to mitigate timing risk.
Gold prices rallied Rs 910 to hit a fresh all-time high of Rs 83,750 per 10 grams in the national capital on Wednesday due to heavy buying from jewellers and retailers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 82,840 per 10 grams in the previous trading session.
Gold seems to be losing its glitter in India due to a rise in prices. Demand in Q2CY24 was 149.7 tonnes - a 5 per cent drop compared to 158.1 tonnes in the same period last year, according to a report by the World Gold Council (WGC). Demand by value in April-June 2024 stood at Rs 93,850 crore, up by 14 per cent compared to Rs 82,530 crore in the same period last year.
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
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