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.
'While investing in a silver ETF, one should be aware that it has historically exhibited higher price volatility than gold.'
The metal sees 10% drop in a month; it is expected to fall to about Rs 25,000/10g in the near future.
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The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
'Stopping now would defeat the core purpose of an SIP, which is to average out the purchase cost over market cycles.'
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.
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
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 in India soared to record highs on Thursday, prompting many people in the world's largest bullion consumer to sell old stock, traders said.
'...since the pandemic, driven by the worlds of influencers and Bollywood.'
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.
India's exports contracted 11.8 per cent to $34.38 billion in October, showed government data released on Monday. Imports jumped 16.63 per cent to $76.06 billion.
The government does not seem keen on issuing fresh gold bonds given the overall cost and rising gold prices.
A panchayat in the Jaunsar Scheduled Tribe area has barred women from wearing more than three pieces of jewellery to prevent jealousy and domestic discord. The decision, welcomed with reservations, has sparked debate about other wasteful expenditures like alcohol.
Silver traded lower by Rs 135 to Rs 36,750 per kg.
'There are very few issues and a political call needs to be taken about some of them.'
Reserve Bank of India (RBI) Governor Sanjay Malhotra, and Deputy Governors Poonam Gupta, T Rabi Sankar, Swaminathan J, and S C Murmu on Friday addressed issues during the post-policy media interaction.
It can touch Rs 32,500 per 10 gram.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
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.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
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.
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.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
Bombay Bullion Association to develop a software for the same.
Gold prices recovered by Rs 210.
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.
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Silver also dropped by Rs 400 to Rs 35,650 per kg.
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.
'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.'
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.
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.
'Customers are coming in; if they aren't buying, they are at least visiting the stores, which was not the case before the Budget.'
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