Spot gold on Saturday slipped below the Rs 30,000 per 10 gram level, for the first time since August 17 last year, to close at Rs 29,890 -- down Rs 200 from Wednesday's close -- mainly on weakness in underlying fundamentals.
Anil Agarwal, chairman of metals major Vedanta group, has called for the sale of government stake in Bharat Gold Mine and Hutti Gold Mine so as to increase production of the yellow metal in the country. In a social media post, Agarwal said global gold prices are currently at record highs and India imports 99.9 per cent of its requirement. "With massive investments, we can be a major producer of gold and a big generator of employment," Agarwal said.
After three straight quarters of decline, India's housing market is pinning hopes on the ongoing festival season to revive sales momentum. While 2025 may still end with sales volumes below 2024 levels, developers believe the seasonally strong October-December quarter could narrow the gap, aided by stable interest rates, festive incentives, and resilient demand in the premium segment.
Use these loans to meet emergency needs, and not to fund holidays or luxury purchases.
Gold had hit an all-time high of Rs 11,492 on the Multi Commodity Exchange, the largest commodity bourse. The gold contract has gone up more than 7 per cent so far in 2008. Traders said the demand for gold is dull, as many people are expecting that the prices will come down.
Gold prices plunged by Rs 600 to Rs 26,500 per 10 grams in the national capital today after the precious metal slumped to the lowest level since 2010 in global markets as the strengthening dollar eroded demand for the commodity.
Indian rupee slipping below the record 88 level against the US dollar will enhance price competitiveness of Indian products in global markets and help exporters diversify beyond the US market, say exporters. However, import-dependent sectors such as gems and jewellery, petroleum and electronics may see lower benefits due to a rise in input costs, they stated.
All investors should ideally have a 10 to 15 per cent allocation to gold. Whether they invest in gold ETFs or SGBs should depend on their investment horizon.
With more and more people opting for gold as an investment option, the yellow metal is on track to set record levels, probably this year.
The yellow metal had shed Rs 20 on Tuesday.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
The net inflow into equity mutual funds surged 24 per cent to Rs 23,587 crore in June, reversing the declining trend of the last five months, driven by strong equity market performance across segments, data released by the Association of Mutual Funds in India (AMFI) showed on Wednesday. Also, the latest fund infusion by investors marks the 52nd consecutive month of net inflows into the segment.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
Gold prices zoomed up by Rs 110 per ten grams to close at a 6-year high of Rs 5450 on the bullion market on Friday due to hectic stockistsÂ’ buying prompted by a steep rally in the international prices.
China to remain the largest market, say analysts.
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Traders attributed the rise in prices to higher demand of precious metals for the coming festivals like Rakshabandhan compared with supply, which has tightened because of fall in imports following government measures.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Priced at Rs 27.79 lakh (ex-showroom), the limited-edition BE 6 is expected to be a highly sought-after vehicle for collectors and fans of the iconic superhero alike.
The days of spot prices of gold differing from one city to another will soon be over.
Of the Rs 474.4 crore insurance cover, the largest component -- Rs 375 crore -- has been allocated towards personal accident cover for volunteers.
Amidst recession and job losses, Britons of Indian origin and others have been flocking to jewellery shops to cash in on rising price of gold, selling their rings, chains and even dental braces made of gold.
Traders attributed persistent fall in gold prices to easing demand.
Red Square and VDNKh easily rank among the most striking places I've visited -- both for their historical significance and architectural splendour.
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Geopolitical climate and equity markets as supportive for gold's role as a risk hedge.
Silver also slumped by Rs 1,700 to Rs 37,200 per kg.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
In the Indian stock market, investors are interested in the actions of both domestic and foreign institutional investors (FIIs and DIIs). These groups have wealth as well as expertise in research, which makes them powerful participants in the Indian stock market. Their buy and sell positions have a large effect on stock prices and market sentiment due to the large volume.
Gold touched a all-time high of at Rs 18,550 per 10 gm in the bullion market on Thursday, then slipped a tad to end at Rs 18,210. Pure gold (99.9 purity), however, closed unchanged at at Rs 18,310 per 10 gm.
The new model is 5.6mm thick. CEO Tim Cook said it promises "pro performance in a thin and light design."
In mid-March this year, the finance ministry asked state-run banks to review their gold loan portfolio for the two-year period between January 1, 2022, and January 31, 2024. This business had grown at a fast clip. Reserve Bank of India (RBI) data has it that it grew 15 per cent to Rs 1 trillion in FY24. Now, in recent times, any kind of exuberance in financial services has seen the authorities swoop down - be it pushing the lines on governance or unsecured credit.
With gold breaching the Rs 20,000-mark for a sovereign recently, market figures show there has been no let-up in retail buying, as gold is an integral part of marriage, cutting across caste and community divides in Kerala.
Gold prices plunged by Rs 410 to trade at over two-week low of Rs 27,790 per 10 grams at the bullion market on Monday.
'Right now, silver -- and especially platinum -- are very cheap compared to gold. If I were buying today, I would choose platinum.'
Even those reaching out to jewellery showrooms at the peak of the marriage season are putting a cap on their purchases, jewellers rued.
Global cues may further weaken the yellow metal; imports seen under control after January surge.
It was trading around Rs 30,638 per 10 grams, the lowest since August 30.
India's current account deficit (CAD) is likely to ease to 4.4 per cent of the GDP in the current fiscal year on lower oil and gold prices, Bank of America Merrill Lynch (BofA-ML)said in a research note.
Gold, silver, copper hit multi-year lows, Brent crude near $100 a barrel.
'We expect market consolidation and recommend buying during market dips.'
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