India's stock markets corrected recently but foreign money is likely to chase China rather than India in the short-to-medium term, said Chris Wood, global head of equity strategy at Jefferies, on Thursday. Wood told the Business Standard Manthan Summit in New Delhi he is bullish about Indian equities from a long-term perspective, but for the short term he is cautious given the quantum of foreign investor (FII) outflows and valuation woes.
The weaker rupee will push the country's import bill due to higher payments for crude oil, coal, vegetable oil, gold, diamonds, electronics, machinery, plastics, and chemicals, economic think tank GTRI said on Friday. Citing an example, it said the depreciating domestic currency will increase India's gold import bill, especially as global gold prices have jumped 31.25 per cent, rising from $65,877 per kg in January 2024 to $86,464 per kg in January 2025.
The government has revised gold import data, bringing down numbers for November by $5 billion to $9.84 billion, possibly to rectify double accounting of inbound shipments. According to revised data of the commerce ministry arm Directorate General of Commercial Intelligence and Statistics (DGCIS), gold import numbers have been slashed since April 2024, revealing excess imports of about $11.7 billion during the first eight months of 2024-25.
Gold exchange traded funds (ETFs) witnessed a net outflow of Rs 199 crore in January, making it the third monthly withdrawal in a row, with investors preferring equities over other segments on buoyant record SIP flow. This was in comparison to a net outflow of Rs 273 crore registered in the segment in December and Rs 195 crore in November. Prior to that, Gold ETFs attracted Rs 147 crore in October, data with Association of Mutual Funds in India (Amfi) showed.
Escalating trade tensions amid a tariff war after Donald Trump took over as President of the United States (US) could adversely impact global growth and fuel inflation, an article on the "State of the Economy" in the Reserve Bank of India (RBI) monthly bulletin said.
Gold coins are selling at a Rs 100 per 10 gram premium since Guru Pushya Nakshatra, one of the most auspicious occasions for buying precious metals in western Indian states.
Gold burnished its image as the go-to asset class during turbulent times. However, investors seemed to have missed the bus. Net inflows into gold exchange-traded funds (ETFs) plunged to a four-year low of Rs 653 crore in 2022-23 (FY23), even as gold emerged as the top-performing asset class.
'Customers flocked to purchase gold in large numbers during the event.'
Vietnam was wonderful and the people warm and hospitable, Radhika Mittal discovered over a 11-day stay.
The price of gold has risen 10.63 per cent this year -- from $1,205.65 an ounce at the beginning of the year to $1,333.9 on Monday.
Customers who possess gold jewellery but are either being denied a personal loan or are being asked for a high interest rate due to their poor credit profile may consider a gold loan.
As of now, the custom duty on gold is 10 per cent.
Besides being an investment instrument, it is hedge against inflation and store of value.
While SGBs are a sound investment, they aren't worth buying at any price. The interest income you earn from them will not justify paying a high premium.
India men's hockey team captain Harmanpreet Singh has two Olympic bronze medals in his cabinet, but rues missing out on World Cup glory.
Gold cracked as much as Rs 730 -- its biggest one-day fall this year -- to Rs 30,520 per 10 grammes, in sync with a weak trend overseas on growing US rate hike buzz amid a fall in demand at the spot market.
Gold price is likely to remain under pressure due to geopolitical tensions.
The wedding season will continue till early January and gold is an important gift item at marriages.
'Each state is unique, but when it comes to finance, the fundamentals cannot be different.'
Gold prices hit record high in the third week of March as fears of bank collapses and high inflation led investors to the traditional safe haven. Gold prices are often inversely correlated to dollar strength because the international price is dollar-denominated. The Federal Reserve's (Fed's) stance indicates that the dollar may appreciate further since it is prepared to keep pushing up policy rates. But demand for gold is also up - the World Gold Council claims central banks are buying in addition to private demand.
Banks have swung into action as gold prices continue to slide. Reduced loan-to-value ratio (LTV), cautious lending, and a close monitoring of the gold loan portfolio have prompted them to hedge their loan books against the reduction in prices.
Neeraj Chopra's event granted category A status by World Athletics.
In 2014, gold prices had fluctuated between Rs 27,000 and 30,000/10g.
Traders had accumulated stocks when the FM hinted of a duty hike.
'He has been one of the clearest thinkers in the history of business.'
India's major imports from the US include crude oil and petroleum products, gold and jewellery, plastics, aircraft, and electrical machinery and components. The key exports to the US comprise pharmaceuticals and biologicals, telecom equipment, precious and semi-precious stones, petroleum products, gold and precious metal jewellery, and ready-made garments.
Another trend: A preference for coloured diamonds among brides, who are pairing them with their groom's birthstone. So, along with yellow or white diamonds, they are choosing pink, green, blue sapphires, emeralds or red rubies.
Historically, tensions in West Asian regions have provided support to gold prices.
'We believe that in the new world order FTAs or bilateral trade agreements (BTAs) are the way forward.' 'They are enablers for our participation in global value chains. Today, around 70 per cent of global trade is tied to these chains.'
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Thanks to a close one's illness, I have seen quite a few hospital rooms in the past half a year or so. They have revived my respect for life reinterpreted via its essentials, notes Shyam G Menon.
Gold prices spurted on the bullion market on Wednesday on the emergence of buying by stockists triggered by a rising trend in international markets and closed with notable gains.
Ask rediffGURU and PF expert Milind Vadjikar your insurance, stocks, mutual fund and personal finance-related questions.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
Gold fell to, and held near-term support at $914.00 in overnight trading in Asia before turning higher in the morning hours, ahead of the New York opening. New York spot trading opened with gold at $ 926, up $ 1.20 as players watched the dollar dropping under 71.60 on the index, and crude oil rise to just above $ 111 per barrel. Silver was down 6 cents on the open, quoted at $17.68 but the noble metals took a harder fall. Platinum lost $48 at $1960.00 & palladium dropped $13.
Gold prices have surged nearly 18 per cent, so far, in the calendar year 2022 (CY22) to around $2,050 per ounce against the backdrop of the ongoing Russia-Ukraine war and there is more headroom over the next few months, believe analysts at Goldman Sachs who expect the yellow metal to become costlier by another 25 per cent to $2,500 an ounce by the year-end. Goldman Sachs, earlier, had raised its 12-month gold price forecast to $2,150 per ounce considering that an impending US growth slowdown would lead to increased concerns of a US recession and incentivise 300 tonnes of inflows into gold ETFs. At the beginning of the Russia-Ukraine tensions, Goldman Sachs had suggested the resultant rally in commodities could deteriorate the developed market (DM) growth-inflation mix, increase concerns of a American recession, and push gold ETF inflows to 600 tonnes and, in turn, lift gold prices to $2,350 an ounce in 12 months.
Amid the ongoing global tariff war, Reserve Bank Governor Sanjay Malhotra on Wednesday said he is more worried about its impact on growth than inflation. Speaking to the media after presentation of the first bi-monthly monetary policy for the current financial year, Malhotra said, RBI has reduced the growth forecast for 2025-26 by 20 basis points to 6.5 per cent.
Shriram Finance's (SHFL's) profit after tax (PAT) rose 10 per cent year-on-year (Y-o-Y) to Rs 2,140 crore in the fourth quarter of the financial year 2024-25 (Q4FY25).
Despite gold prices hitting record highs, analysts aren't gung-ho about the outlook for gold financiers Muthoot Finance and Manappuram Finance. This, they said, was due to intense competition from banks, coupled with stagnating loan books and likely pressure on margins.
Gold is usually seen as a safe-haven when stocks are falling or when inflation is rising. With prices of the yellow metal hovering near record highs, people are also putting off their jewellery purchases. Along with a subdued marriage season, the orders with price open and settled on delivery day, too, are getting cancelled. Apart from high, volatile prices, there is no gold rush yet for the safe-haven asset, crimping demand.
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