Exports of gold jewellery fell 23.13 per cent to $1153 million.
During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
Investors should tilt their portfolios towards domestic-facing defensive sectors, which should help provide stability and shield them from geopolitical and tariff risks.
Traders attributed the sharp rise in silver prices to a firming trend overseas.
'We expect market consolidation and recommend buying during market dips.'
Attractively low prices, rising demand and a favourable ratio to gold point to better days ahead for the white metal.
Investors should avoid making drastic changes to their asset allocation during a market correction.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Extending gains for the third day, gold prices rose by Rs 300 to Rs 30,700 per ten gram in the national capital today on sustained buying by stockists for the ongoing marriage season amid a firming global trend.
Goods from sectors, including agriculture, precious stones, chemicals, pharma, medical devices, electricals, and machinery may get impacted if the US will go ahead with imposing reciprocal tariffs on Indian products, according to experts. They said that these sectors could face additional customs duties from the Trump administration because of the high tariff differential or gap, which is the difference between the import duties imposed by the US and India on a product.
In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 29,915 and Rs 29,765 per ten gram, while silver enquired at Rs 45,450 per kg.
Globally, gold fell 0.14 per cent to $1,250.10 an ounce.
Prices dip ahead of Dhanteras, seen around Rs 29,800/10g.
While gold prices declined by Rs 340 to Rs 30,200 per ten gram, silver dropped by Rs 540 to Rs 48,455 per kg on reduced offtake by jewellers and coin makers.
Investors and traders in India have been making money on silver futures in the last two months.
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.
Why millennials are choosing silver over gold this Valentine's Day.
Gold remained weak for the second straight day with prices falling by another Rs 30 to Rs 26,750 per ten gram at the bullion market in New Delhi on easing of demand from jewellers and retailers amid a weak global trend.
Amazon India has witnessed an 84 per cent year-on-year (Y-o-Y) increase in sales of hallmarked gold jewellery and posted a 5-fold spike in demand during the first two days of its ongoing Amazon Great Indian Festival (AGIF) sale event, which started on September 27. This demand is for brands such as Malabar Gold and Diamonds, PN Gadgil Jewellers, Joyalukkas, PC Chandra and KISNA, among others. According to current trends, customers buy fine jewellery starting at Rs 2,000 in the silver category and shell out up to Rs 40,000 for gold and diamond jewellery. In the last year, Amazon has seen more customers opt for 14 Karat purity.
Traders said fresh buying by industrial units and coin makers along with higher global trend mainly led the recovery in silver prices.
Gold drifted lower by Rs 200 to trade at one-week low of Rs 31,050 per ten grams.
'Investors looking at the next 6-12 months can be certain that the Fed will maintain its easing cycle, and we expect the overall environment to be conducive for fixed income investments for portfolio diversification.'
Traders said weak demand at prevailing higher levels and retailers looking for more correction mainly kept pressure on gold and silver prices.
The government on Tuesday hiked the import tariff value on gold to $388 per 10 grams and that on silver to $487 per kg taking cues from global market.
Younger investors with long investment horizons may continue their SIPs.
India's merchandise exports dipped by about one per cent to $38.01 billion in December 2024 against $38.39 billion a year ago, according to government data released on Wednesday. Imports increased by 4.8 per cent to $59.95 billion in December 2024 compared to $57.15 billion in the year-ago month.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
Gold and silver prices here surged to new record levels today on frantic buying by stockists and jewellers, triggered by a strong rally in overseas markets.
Silver has a dual role - 60 per cent of the total silver produced is used for industrial purposes in the electrical & electronics segment and photovoltaic demand mostly for solar panels.
Bullion traders said subdued demand at current levels and a weak global trend mainly pulled down both gold and silver prices.
Silver gained 0.20 per cent to Rs 50,276 per kg in special Muhurat trading on the Multi Commodity Exchange (MCX) today as participants built new positions to mark the start of Samvat year 2070.
Gold, silver, copper hit multi-year lows, Brent crude near $100 a barrel.
Amid the political blame game over Bengal's potato ban, which led to shortages in Jharkhand and Odisha, Uttar Pradesh farmers are the unlikely winners.
'I am more optimistic about India than before.'
'If you invest in sovereign gold bond, you are going to get the price rise of gold over an eight year period.' 'You're also going to get that two-and-a-half percent which the Government of India is willing to give you, treating the money that you've invested in the sovereign gold bond as a kind of a FD or a deposit.' 'That kind of return you can never get anywhere else.'
Recent recovery in the white metal was reflected in a falling gold to silver price ratio.
Traders said profit selling by stockists emerged after a rally in the previous session mainly pulled down gold and silver prices.
Mutual funds have launched a clutch of new fund offers in the silver ETF (exchange traded fund) category this year and collected Rs 1,400 crore in assets after the introduction of the newly-created investment asset class by market regulator Sebi in 2021. Further, fund houses including Kotak Asset Management Company have filed draft documents with the markets regulator to float silver ETF as well as silver ETF fund of funds for investors, information with the Securities and Exchange Board of India (Sebi) showed. These NFOs (new fund offers) are providing an opportunity to the investors to digitally invest and own silver which is easily tradable during market hours.
Gold prices gained marginally, in an otherwise listless and cautious trading on the bullion market in Mumbai on Saturday owing to stray buying support.
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