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.
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.
Only borrow an amount that can be repaid comfortably. The ratio of total EMI to take-home salary should not exceed 40 per cent.
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.
Gold, silver, copper hit multi-year lows, Brent crude near $100 a barrel.
'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.'
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
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.
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.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
Gold zoomed by a whopping Rs 215 per ten gram and closed at a new closing high of Rs 9,945 on the bullion market in Mumbai on Friday due to frantic buying after metal's prices touched a 25-year high.
Gold rose further on the bullion market in Mumbai due to increased buying by stockists after rise in the overseas prices. Silver also ended better in line with gold.
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.
The metal meant for exports is being sold to third parties at a premiums adding pressure on domestic market.
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.
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.
'The outlook for the next Samvat is more constructive, as many of the earlier drags are gradually becoming supports.'
The prices of gold last year on the Dhanteras day ruled at Rs 12,070 per 10 gram.
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 searches by the ED also covered certain vehicle owners, auto workshops, and traders in Ernakulam, Thrissur, Kozhikode, Malappuram, Kottayam and Coimbatore (Tamil Nadu).
'We expect market consolidation and recommend buying during market dips.'
Current account deficit could ease to around 3 per cent in the current fiscal year from prior estimates of about 4 per cent due to sharp drop in global commodity prices.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
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 yellow metal gives negative returns after 12 yrs; analysts say it'll be subdued in 1st half of 2014, with a revival likely later.
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.
: Build lasting wealth via disciplined, long-term mutual fund investing in India's compounding marathon, Shanaihi, Shanaihi, says Ramalingam Kalirajan
A strong appetite for gold on Friday's Dhanteras is expected this year due to auspicious reasons and geopolitical concerns, continuing the 2022 trend driven by pent-up COVID demand. Compared to last year's Dhanteras, gold prices have jumped 22 per cent and silver prices by 21 per cent, respectively. "Gold and silver are good for portfolio diversification, especially in times of geopolitical turbulence.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
'The primary market's rhythm mirrors investor confidence. While sentiment may appear cautious, it reflects maturity, not weakness.'
Gold price declined Rs 305 to Rs 56,035 per 10 grams in the national capital on Thursday amid a fall in rates of precious metal in the overseas markets, according to HDFC Securities. The yellow metal had settled at Rs 56,340 per 10 grams in the previous trade. Silver also plummeted Rs 805 to Rs 65,095 per kg.
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.
Since the last nine years, gold investors have made money each year, while gains in silver have been consistent only in the last five years.
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.
Let's take a look at the arguments that will decide the price of gold this year.
The rising trend in gold remained unabated on the bullion market in Mumbai on Monday with pure gold zooming up further to close at a new record high of Rs 6,235 per ten gram due to sharp rise in the global prices.
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