GEOPOLITICAL UNCERTAINTY
Central banks around the world have positive outlook on gold, according to World Gold Council survey
The WGC survey received responses from a record-high 70 central banks. The survey shows that Central bank sentiment towards gold remains very high, with 29 per cent saying they will add more gold in the next 12 months and 81 per cent saying that official sector gold reserves overall will grow in the same period. Optimism towards gold’s future role in global reserves continues to grow, with 69% saying that gold’s share of reserves will be higher in five years compared to 62% last year, the WGC survey said.
India Inc braces for revenue uncertainties in Q1 on slow govt spending, monsoon onset: Icra
Corporates are preparing for revenue uncertainties in the April-June period due to a slowdown in government spending and the onset of the monsoon season, as reported by domestic rating agency Icra. Sequential revenue growth is expected to taper in the first quarter of the fiscal, with a 6.
Learn with ETMarkets: How inflation impacts INR & what currency traders should do?
The Indian Rupee (INR) is influenced by global economic trends, inflation, recession fears, and geopolitical tensions. Traders should monitor inflation, anticipate capital flows, and use hedging strategies in the forex market.
Learn with ETMarkets: What do global economic trends, and their implications mean to gold, currency markets?
The Indian rupee tends to weaken during such times due to increased risk aversion and capital outflows. A weaker rupee makes gold and silver more expensive in the domestic market, potentially leading to profit booking and increased liquidity among investors.
India bankers brace for IPO surge as election uncertainty lifts
About $3.9 billion has been raised in India via IPOs so far this year, more than double the same period in 2023, and a tally that’s higher than the combined amount raised in South Korea and Hong Kong, according to data compiled by Bloomberg.
ET Explains: Why RBI keeps gold abroad?
The Reserve Bank of India (RBI) has been aggressively buying gold this year, purchasing one and a half times the amount bought in the whole of 2023 in just the first four months of this calendar year. A big portion of this gold is held overseas, but the RBI is now planning to bring back a portion of these reserves. This move comes amid risks following the West freezing Russian assets. The RBI holds 822.10 metric tonnes of gold, with 387.26 metric tonnes kept in safe custody with the Bank of England and the Bank for International Settlements (BIS).
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Gold prices inch lower as US rate cut bets cool
Gold prices eased as traders reduced rate cut expectations by the U.S. Federal Reserve, awaiting U.S. inflation data this week.
View: Central banks are moving over to the yellow metal to de-dollarise and tackle global uncertainty
Gold prices have surged to a record high of $2,400/oz, driven by uncertainty rather than demand. Central banks have significantly increased their gold holdings, with a notable shift towards ETF investments.
Gold prices back in limelight after mild correction
Gold prices have surged both globally and domestically, nearing the significant psychological level of $2,500 per ounce on the London spot market, representing a year-to-date increase of almost 17%. This momentum is reflected in the Indian market as well, with MCX futures prices exceeding ₹74,000 per ten grams.
Gold loses momentum on ebbing rate cut speculation
Gold prices rose on Friday as the dollar slipped, but were heading for their worst week in five and a half months due to hopes of U.S. central bank interest rate cuts affecting Western investors' interest. Spot gold rose 0.2% to $2,332.77 per ounce as of 1:54 p.m. ET (1754 GMT) as the U.S. dollar index slipped 0.4%.
Balkrishna Industries off-roading well in India & US, Europe to give traction
Balkrishna Industries’ global peers have cut down production as their revenue fell by around 10% in the March quarter, but Balkrishna’s volume grew by 12.9% year-on-year to 82,085 tonnes in the period — the highest in eight quarters.
Silver prices fall Rs 2,000 per kg as traders book profits after sharp rally
Gold prices dipped by Rs 750 per 10 gm on MCX. After posting significant gains in the past few trading sessions, some profit-booking at higher levels was warranted for both gold and silver. Silver prices have gained 14% in May so far and have shown a decline for the past 2 trading sessions.
Asia stocks weaken on the patient approach to rate cuts
MSCI's broadest index of Asia-Pacific shares outside Japan lost 0.57%. Australia's S&P/ASX 200 index was one of the biggest decliners, slumping 0.8%, also hurt by a pullback in some commodity prices.
RBI buys 1.5 times more gold in January-April than whole of 2023
The Reserve Bank held 827. 69 tonnes worth of gold as a part of its foreign exchange reserves as of April 26,2024, up from 805 tonnes as of end December according to the latest Reserve bank of India data.
Rs 1,800 crore a day! Why FIIs are selling Indian stocks since Lok Sabha elections began
FIIs have sold Indian stocks worth Rs 37,700 cr since the Lok Sabha elections began on April 19, causing nervousness on Dalal Street. India VIX has increased by 67%. In contrast, DIIs have spent Rs 60,000 cr, holding strong amidst market volatility.
Foreign-themed mutual funds rally up to 80% in a year. Should you go international?
International funds, including top performers like Mirae Asset NYSE FANG+ETF FoF, showed strong growth. However, concerns arise with Sebi's restrictions on overseas ETF investments and varying earnings growth in indices like Hang Seng and CSI 300.
Volatility has risen as Lok Sabha Elections 2024 fever grips the stock market; will polls halt the rally?
Volatility has risen in recent weeks as election fever grips the market. The heightened volatility stems from concerns over lower voter turnout in the ongoing general elections, potentially indicating an unfavourable verdict for the ruling party. Is this market nervousness a sign of future trends or a temporary blip before equities resume their upward journey?
ETMarkets Smart Talk: Why are FIIs turning net sellers in Indian markets? Aditya Sood decodes
Aditya Sood, Fund Manager at InCred Asset Management, analyzes the impact of NDA's performance, FPIs' net selling, and the attractiveness of MSCI China index on Indian markets. He highlights the crucial role of these factors in shaping investment decisions. Sood says: "Over the next decade, India will be a buy on dip market — all corrections should be used as buying opportunities to increase allocation to equities as an asset class."
Saudi King Salman’s health, Iran President Raisi’s death spur succession bets
The death of Iranian President Ebrahim Raisi has not significantly altered the regime's trajectory, with little hope for political reform or reduced hostility towards the US and its allies, according to Western officials. The focus has shifted to succession planning, especially given the aging Supreme Leader Ayatollah Ali Khamenei. However, Iran's detente with Saudi Arabia is expected to continue, as is its support for regional proxies. In Saudi Arabia, Crown Prince Mohammed bin Salman's ascension to the throne is expected to maintain continuity in oil policy and regional relations.
Iran's President dies in helicopter crash. What Baba Vanga had predicted?
Iran is mourning the tragic loss of President Ebrahim Raisi, Foreign Minister Hossein Amir-Abdollahian, and other officials in a helicopter crash in northwest Iran. While initial reports suggest the crash was accidental, questions of foul play persist, though Israel denies involvement. The event has drawn global attention and speculation about its geopolitical impact, coinciding with reflections on Baba Vanga's predictions for 2024.
Oil prices climb amid uncertainty over Iran president's fate
Brent rose 26 cents, or 0.3% to $84.24 a barrel by 0049 GMT. U.S. West Texas Intermediate crude (WTI) gained 15 cents, or 0.2% to $80.21 a barrel.
ETMarkets Smart Talk: 3 reasons why FIIs are turning net sellers after putting Rs 2 trn in FY24: Pradeep Gupta
Pradeep Gupta of Anand Rathi Group discusses FIIs turning net sellers in India due to various global uncertainties and market volatility, emphasizing the importance of long-term strategic decisions in an interview with ETMarkets. Gupta says: "On a risk-adjusted basis, there is equal positivity on large and small cap indices, with slightly more caution on the mid-cap segment."
Pvt sector capex likely to expand amid expectations of high growth: Experts
CII's business confidence index touched a 12-quarter high in Q4FY24, with 51% of firms expecting capacity utilisation of 75% and above. Moreover, 71% expect an improvement in private capex in the first half of FY25 compared with the second half of FY24.
Indian exports up in 115 nations out of 238 destinations in 2023-24
Despite global economic uncertainties, India's exports increased to 115 countries out of 238 destinations in 2023-24. The merchandise exports slightly declined by 3% to USD 437.1 billion, while services exports rose to USD 341.1 billion. Overall exports (goods and services) reached USD 778.2 billion. India's rank in world merchandise exporters improved from 19th to 17th, with a marginal increase in share from 1.70% in 2014 to 1.82% in 2023.
Inflation-wary Fed may put IT revival on hold
Indian outsourcing leaders face delayed business revival until FY26 due to US Federal Reserve's high interest rates. The impact on revenue growth and IT firms' strategies could persist, affecting deals and revenue projections in the sector.
Learn with ETMarkets: How to navigate through global uncertainties when trading in gold and silver?
Geopolitical events wield significant influence over the prices of MCX Gold and Silver, often sparking volatility and uncertainty in the market. Factors such as war tensions and trade disputes can swiftly alter supply and demand dynamics, prompting investors to seek refuge in precious metals.
Gold set for fifth weekly gain as geopolitical risks buoy demand
Federal Reserve policymakers have rallied around the idea of holding borrowing costs where they are until probably far into the year, given slow and lumpy progress on inflation and a still-strong U.S. economy.
Space startups see funding surge as government spending remains high, report says
Geopolitical uncertainties have largely driven the surge in funding, as geospatial data and images collected by satellites are used by government agencies for everything from analyzing weather patterns and agriculture to changes and movements along international borders.
Cybersecurity firm Check Point reports an increase in wiper-ware attacks amid geopolitical uncertainty
Israeli cybersecurity firm, Check Point Software Technologies, has warned companies of an increase in wiper-ware attacks, which aim to annihilate data and digital systems during geopolitical conflicts. These attacks, unlike ransomware attacks, are not motivated by financial gain but rather by the desire to cripple military and civilian infrastructure. The use of wiper-ware has increased in recent years due to major conflicts, such as the Israeli-Hamas war and the Russia-Ukraine conflict.
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