In an email interview, Yogesh Kalwani says he prefers a mix of largecaps and select mid- and smallcap names, with sector tilts towards BFSI and healthcare
The desk will mainly target Indian jewellers and extend services to scrap and recycling businesses, Greg Kallinikos, chief executive for Asia Pacific, said in an interview
Apurva Sheth, head of market perspectives and research at SAMCO Securities believes that the recent buying frenzy in both gold and silver has been led by FOMO - buying out of fear of missing out
Looking ahead to 2025, with demand forecast at 1,148.3Moz against supply of 1,030.6Moz, the silver market, Nomura said, faces its fifth consecutive year of deficit at 117.6Moz
At the peak of the last secular bull market in gold in January 1980, Wood said, gold price was then equivalent to 9.9 per cent of US disposable income per capita which stood at $8,551
The government has imposed import curbs on certain colloidal precious metals, with an aim to check the illegal inflow of gold into India in liquid form. Colloidal precious metals are suspensions of gold or silver nanoparticles dispersed in a liquid. According to industry experts, some importers were using this route for imports from countries like Thailand. "The import policy of items covered under CTH 2843 is revised from free to restricted with immediate effect," the directorate general of foreign trade said in a notification. Goods under this number include colloidal precious metals; inorganic or organic compounds of precious metals. In a separate notification, the Directorate said that the import of Palladium, Rhodium and Iridium alloy consisting of gold more than one per cent by weight is restricted. Gold imports in April-May this fiscal year dipped by 3.82 per cent to USD 5.64 billion.
Usage-wise, silver has a 52 per cent demand from industrial applications, and one of the biggest demand growth driver is its use in clean energy applications such as solar energy and electric vehicles
Gold, a safe-haven asset during times of political and economic uncertainty, tends to thrive in a low-interest-rate environment
Gold prices declined Rs 1,500 to Rs 99,250 per 10 grams in the national capital on Thursday, following a weak trend in the global markets, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,00,750 per 10 grams on Wednesday. Snapping a four-day winning streak, gold of 99.5 per cent purity declined by Rs 1,550 to Rs 98,800 per 10 grams on Thursday. It had settled at Rs 1,00,350 per 10 grams in the previous session. "Gold prices remained highly volatile as multiple global and domestic triggers played out simultaneously," Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. In international markets, gold slipped sharply following US President Donald Trump's announcement of a trade agreement with the UK on Thursday, marking the first of his promised deals, triggering profit-taking across safe-haven assets, Trivedi added. As per the Sarafa Association, silver prices fell Rs 740 to Rs 98,200 per k
The bank also noted a surge in gold ETF inflows, driven by fears of a recession, with its economists assigning a 45 per cent probability to a US recession in the next 12 months
The key risks to the upside in gold, BofA Securities said includes US fiscal consolidation, reduced geopolitical tensions, and a return to collaborative inter-governmental relations
The Fed cut rates by 25 basis points on Dec. 18, although the central bank's predictions of fewer rate cuts in 2025 resulted in a decline in gold prices to their lowest level since Nov. 18 last week
The price of ten grams of 24-carat gold in Mumbai is in line with prices in Kolkata, Bangalore, Chennai, and Hyderabad at Rs 79,650.
Silver is expected to trade with a positive bias in near-term on the US presidential election uncertainties, healthy ETF inflows, and strong demand in India amid geopolitical tensions
The precious metal had settled at Rs 78,450 per 10 grams in the previous close on Friday
Spot gold was trading with a loss of around 0.45 per cent at $2,570 at the time of the MCX closing. The MCX October gold contract closed at Rs 73,150 (LTP), down 0.49 per cent.
Silver price outlook by Sharekhan: Silver has got many supporting factors to push it higher as the Fed begins slashing rates.
Flight restrictions and precious metal refinery closures in early 2020 created worries that traders would not be able to move gold to the United States in time to deliver against futures contracts
Technical charts suggest that the bias for Gold is likely to remain positive as long as Rs 73,100 holds; while in case of Silver the bullish pivot stands at Rs 89,000.
Gold prices, CLSA said, have risen from $1,806 per ounce (oz) since Tokyo Olympics 2020 began on July 23, 2021 to $2,387/oz at the start of Paris Olympics 2024 on July 26