Global gold demand has seen a year-on-year decline of 8 per cent during the April-June period to 948.4 tonnes and going ahead further monetary tightening and continued dollar strength may pose headwinds, says a report. According to the WGC Gold Demand Trends Q2 2022 report, the total gold demand during the second quarter of 2021 stood at 1,031.8 tonnes. The year-on-year demand was affected by increase in gold electronic traded funds (ETFs) outflow, decline in Central banks buying and lower demand from the technology segment, the report said.
Global gold demand hit an 11-year low in 2020 at 3,759.6 tonnes, mainly due to a weak October-December quarter and the COVID-19 related disruptions across the world driving a muted consumer sentiment throughout the year, the World Gold Council (WGC) said in a report. The overall consumer demand during 2019 was at 4,386.4 tonnes, while in 2009 the overall demand was at 3,385.8 tonnes, according the WGC's 2020 Gold Demand Trends report. Global gold demand dropped by 28 per cent year-on-year (YoY) to 783.4 tonnes in the fourth quarter compared to 1,082.9 tonnes during the October-December period of 2019, the report stated.
'The adversary will always exploit India's anti-national elements.'
Britain's 'remain' option gaining traction, with the implied probability of such an outcome at 78 per cent.
Trading in Samvat 2074 on Thursday got off to a rocky start, with the benchmark indices ending more than half a percent lower and the gauge for banking stocks dropping 1.25%.
'Gold could benefit from the resulting risk aversion, as happened last year.'
According to Times Now Navbharat channel, it has 'accessed undeniable visual evidence' that confirms Pakistan's 'deep state is still providing a safe haven to terror masterminds' including Masood Azhar, who heads Jaish-e- Mohammed terror group.
The possibility of the use of weaponised drones for terrorist activities against strategic and commercial assets calls for serious attention by the global community, India has told the United Nations General Assembly, a day after two explosives-laden drones crashed into the Indian Air Force (IAF) station at Jammu airport.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
Brokers said a flurry of buying by investors in blue-chips mainly influenced the sentiment.
If you have a short-term horizon, it might be better to wait for a while, say analysts.
Research and ratings agencies like Icra and Moody's have said the CAD in 2018-19 would be much higher than 2017-18
Gold made a remarkable comeback in 2008 when all was not well in the markets. The volatility in the market only thrust the investor to move towards 'safe haven'. Now it is on an upward spiral and it seems like there is no end to the upside one would derive.
However, in the first quarter when the country was under a lockdown, net financial savings rose to 21 per cent of gross domestic product (GDP), according to the data released in the RBI's monthly bulletin.
The major beneficiaries of loan recasting will be sub-Rs 500 crore corporate exposures and retail exposures, which were earlier expected to see the highest increase in NPAs in percentage terms.
The Taliban's main challenge comes on the financial and economic front and there Pakistan doesn't have the capacity to be of any meaningful help, observes Ambassador M K Bhadrakumar.
Experts advise investors to buy at lower levels in the next few months and sell at the higher end of their range in the second half, reports Rajesh Bhayani.
Gold price in Mumbai's physical market on Friday fell 31.1 per cent or Rs 1,351 to close at Rs 41,848 per 10 gramme. Friday's fall in per cent terms is worst after November 2015 and, in absolute terms, the worst after August 2013. Silver prices fell Rs 2,255 to close 5 per cent lower at Rs 43,085 per kg on Friday.
Gold surged Rs 400 to Rs 28,940 per 10 grams on Tuesday on brisk buying by stockists and jewelers for the ongoing marriage season amid a firming global trend.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
'Slower-than-anticipated recovery can be a bigger risk this time than a liquidity-driven event -- at least for India.'
The derivatives expiry on Thursday is also expected to add to the volatility.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Silver, platinum and palladium all declined.
BSE Mid-cap index ended lower by over 2.5% and BSE Small-cap index tumbled over 3%.
'For the next two years, we expect the bulk of earnings growth contribution from sectors like financials and energy, where the outlook remains positive, while the sectors which are linked to domestic consumption and are currently witnessing strains on margins have low salience for Nifty earnings.'
Sterling fell to a 31-year low against the dollar on Monday as a sell-off stemming from Britain's decision to quit the European Union gathered pace, with the euro also pressured as Brexit clouded the future of the rest of the bloc.
The trade-war between the US and China is prompting investors to flee from risky assets, such as equities, to safe-haven bets, such as gold and treasuries
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
Months before 8/11, MP, Haryana probed note ban
Indices reversed all its losses during late trades.
Investors should allocate 10 to 15 per cent in their portfolios to gold through sovereign gold bonds.
Sensex lost 76 points to end at 25,589 while Nifty shed 23 points to end at 7,649.
The rupee had hit a record low of 68.85 in August 2013.
A weak economy coupled with rising Covid-19 cases and inflation that is above RBI's comfort zone, geopolitical developments, and upcoming India Inc's second quarter results for FY21 could impact sentiment, analysts say.
Since 2000, China has had the world's largest outflow of HNIs.
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
India has got the second set of Swiss bank account details of its nationals and entities under the automatic exchange of information pact with Switzerland, marking a key milestone in the government's fight against black money allegedly stashed abroad.
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