Flare-up in West Asia, US elections, further rate cuts by Fed may keep fuelling bullish trend, say experts
Diamond industry to also benefit from change in safe harbour rules
OPEC countries have enough oil which can potentially cap any sharp price increases
The gold price was Rs 28,430 per 10 gram a decade ago, up 141 per cent, giving a 9.2 per cent compounding annual return
What is worth observing for the Indian market is that since the last nine years, gold investors have made money each year, while in silver, gains have been consistent only in the last five years
Most base metals, except tin, have ended lower in the last two years
The government launched the first SGB in November 2015, and the first two issues have matured giving significantly high tax-free returns to investors
Indian cryptocurrency exchanges hope for a revival in sentiment as Bitcoin price is up nearly 50% in a month to over $66,000
High prices and previous year's base weighed on the precious metal
Some refineries stayed away from giving an undertaking to govt. for not importing unrefined gold from LDCs
The reason for the good response in FY21 and FY22 was because of the lockdown and as the jewellery stores were not open while SGB buying was possible through net banking
So far, the rally in gold prices, driven by conflict in West Asia, is not sustaining because the US appears to have deterred Iran from escalating the conflict through its proxies
Overall sales have seen an increase over last year, but that was in value terms and not in quantity, because of prices being 20 per cent higher than last Diwali
On the energy front, Samvat 2078 was a bull year as the war between Russia and Ukraine altered trade routes and supply equations resulted in a 12.5 per cent jump in the price of Brent crude last year
Gold loan market expected to shift to organised sector: WGC report
What is good for copper, because of the EV segment, is bad for crude oil
In Ahmedabad, on Friday night, gold to be bought for Rs 2,000 notes opened at Rs 75,000 though prices slipped to Rs 67,000 levels on lower demand
Some jewellers said last year's demand was "exceptional", following a near washout in the pandemic-affected years of 2020 and 2021
A small price correction is seen where demand is expected to return
Analysts hope the recovery in the metal's prices will continue, but the movement of the dollar-rupee rate could limit the gains for Indian investors