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.
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.
Even those reaching out to jewellery showrooms at the peak of the marriage season are putting a cap on their purchases, jewellers rued.
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.
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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.
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.
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.
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.
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.
Gold, silver, copper hit multi-year lows, Brent crude near $100 a barrel.
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Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
'Stopping now would defeat the core purpose of an SIP, which is to average out the purchase cost over market cycles.'
'...since the pandemic, driven by the worlds of influencers and Bollywood.'
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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 is an excellent asset class for diversification and should be included in all long-term portfolios.
'There are very few issues and a political call needs to be taken about some of them.'
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 metal meant for exports is being sold to third parties at a premiums adding pressure on domestic market.
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.
Passive funds appeal to investors seeking to avoid the risk of underperformance by the fund manager and minimise the need for frequent chopping and changing of funds.
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.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
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.
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 prices of gold last year on the Dhanteras day ruled at Rs 12,070 per 10 gram.
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.
'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.'
New investors should avoid short-term, tactical entries and instead go for staggered buying via ETFs to manage volatility.
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.
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.
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.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
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.
