The recent correction suggests that while precious metals hedge geopolitical tension and inflation, they are not immune to sharp short-term corrections and profit-booking.
India Ratings and Research predicts the Reserve Bank of India (RBI) will maintain the repo rate at 5.25 per cent throughout FY27, despite potential inflationary pressures from higher fuel prices, with inflation expected to remain within the central bank's tolerance band.
Indian stock markets experienced a significant sell-off, with the Sensex tumbling over 1,300 points, driven by escalating crude oil prices due to US-Iran tensions and Prime Minister Narendra Modi's call for austerity measures, which amplified investor concerns about India's economic outlook.
'Unfortunately, today most ministers are busy with either election duty or praising duty. They are not interested in serving duty.' 'Ministers have become relaxed like retired people still holding onto jobs.' 'Look at how the NEET paper leaked. But there is no accountability.' 'After 12 years, they have become saturated. They are short of ideas.'
Gold ETFs attracted around Rs 11,700 crore, the highest in a calendar month.
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'In all these years of rupee depreciation, of rising oil prices, of inflation caused by import dependence, not one leader had the courage to look the people in the eye and say: Please do this for your country.'
Shares of gold finance companies Muthoot Finance and Manappuram Finance hit their respective all-time highs, gaining on the BSE during Wednesday on expectation of healthy earnings. In comparison, the benchmark BSE Sensex was down 0.14 per cent, closing at 85,408.
'The pace of gold's ascent is striking, with prices rising from $3,500/oz to $4,000/oz in just 36 days -- far quicker than the historical average of 1,036 days taken to achieve similar $500/oz gains.'
'Once the market decides it wants to go up, it goes up -- no amount of bad news can really hold it back.'
The Strait of Hormuz crisis is impacting lifestyles worldwide, from reduced gold purchases in India to energy conservation in Europe and Japan, as governments urge citizens to adapt to the global energy shock.
The Indian central government has reduced its total expenditure by approximately 60,000 crore in FY26, below its revised estimate, to successfully achieve the fiscal deficit target of 4.4 per cent of gross domestic product (GDP), according to the latest data from the Controller General of Accounts (CGA).
Kerala, Tamil Nadu and West Bengal have been fiscally stressed for a considerable period of time, and there are no easy ways to mobilise revenues to meet the cost of the promised freebies, particularly in the prevailing difficult economic scenario, points out M Govinda Rao.
Prime Minister Modi has urged citizens to adopt measures like judicious fuel use, postponing gold purchases, and deferring foreign travel to strengthen India's economy in the face of the West Asia conflict's adverse impact.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
'The situation globally is quite challenging, but we have the confidence and courage of conviction that we will come out winners even in this challenging time.'
India has no plans to ration fuel supplies despite ongoing disruptions in global energy markets, according to a top oil ministry official. The country has maintained adequate inventories of crude products and LPG while diversifying imports to manage supply risks.
Prime Minister Narendra Modi has appealed to citizens to adopt austerity measures, including avoiding destination weddings abroad and reducing edible oil consumption, to mitigate the impact of the West Asia crisis on India's economy.
Jewellery makers are set to post strong revenue growth in the 2025-26 (FY26) October-December quarter (Q3), supported by a robust wedding season and rising value growth, even as volumes decline.
Gold imports climbed 349.22 per cent to $12.07 billion in January, while silver imports rose 127 per cent to $2 billion.
The Reserve Bank's gold reserves crossed 880 metric tonnes in the first half of 2025-26 with the central bank adding 0.2 metric tonnes in the last week of September. The total value of the gold was $95 billion as of September 26, 2025, according to the latest data from the Reserve Bank of India (RBI).
Gold extended its record-breaking run to breach the Rs 1.5 lakh per 10-gram mark in futures trade on Tuesday, while silver surged to a lifetime high of Rs 3.27 lakh per kg as investors rushed to safe-haven assets amid mounting global tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 6,861, or 4.7 per cent, to record Rs 1,52,500 per 10 grams after settling at Rs 1,45,639 per 10 grams in the previous session.
India's exports recorded a 13.78 per cent increase to USD 43.56 billion in April, marking the highest monthly outbound shipments in over four years, primarily driven by petroleum products. However, the trade deficit widened to a three-month high of USD 28.38 billion due to a 10 per cent rise in imports.
Congress leader Rahul Gandhi criticised Prime Minister Narendra Modi for gifting 'Melody' toffees to Italian Premier Giorgia Meloni, calling it a 'gimmick' while India faces an 'economic storm'. He accused Modi of prioritising public relations over addressing the struggles of farmers, labourers, and youth, a sentiment echoed by other Congress leaders.
'Once the currency goes out of the hand, then possibly your major challenge is that it will not come back.'
'We expect modest returns in 2026 versus the steep gains seen over the past few years.'
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
'People become guided by emotions, fear of missing out, and greed. They tend to invest in booming sectors that may prove exceptionally expensive.' 'Typically, that represents the peak, and subsequently, they lose substantially.'
Actor-politician Vijay's TVK party is likely to form the government, bringing focus to their election promises, including gold for marriage, financial assistance for women, and job creation.
TVK founder Vijay, upon becoming Chief Minister, approved free electricity units and special forces for women's safety and anti-drug efforts. He pledged a commitment to secularism and social justice, asserting his authority as the sole power centre.
'At the first sign of real trouble, that money will move. There will be a run.'
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Investing in gold trumped most other asset classes in terms of compounded annualised returns over the long term, suggests a report by FundsIndia.
Several sports teams around the world have paid a hefty price for spying on their opponents over the years but the potential financial cost to English soccer club Southampton for their infraction could be the heaviest.
This is the time for India to plan forward fully, with the goal of Atmanirbharata, and energy security. The Persian Gulf is no longer a reliable source, points out Rajeev Srinivasan.
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'When we start describing somebody as an enemy that is the start of politics and emotion after which no business can take place.' 'We need to get out of this, allow Indian businessmen to do business with China.'
The Indian commodity market has experienced significant growth over the past decade, allowing Indian traders to capitalise on price fluctuations in commodities such as gold, crude oil, and natural gas. Earlier, commodity trading required substantial capital as these contracts were only available in bulk quantities. But to make the commodity market more accessible, exchanges such as the Multi-Commodity Exchange (MCX) have launched smaller and more flexible commodities contracts, including mini and micro contracts. These changes in the commodity lot size have changed the way small traders trade in commodity markets.
If TVK MLAs and ministers are perceived as clean, or demonstrably cleaner than their predecessors, the credibility dividend will be enormous. The voter will feel rewarded, points out Ramesh Menon.
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