GOLD RECOVERED FROM STOMACH
Hawkish Fed, other bearish factors hurting gold
The ten-year US yields at 4.38% were up 2.28% on the day and were up around 4% on the week. The two-year yields were up 0.20% on the week as they closed around 4.75%
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 45%
While bulls are back on the street, volatility is also making a comeback. In two trading sessions, the nifty slipped intraday though it was able to recover. The only thing which appears to be a sign of caution is that the mid-cap index and market breadth in that segment is not as bullish as it used to be when the nifty would be witnessing a similar kind of an up move. There is a high probability we might see some profit booking which is rational in nature. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
Gold Price Today: Yellow metal opens at Rs 71,650 per 10 grams, Silver at Rs 89,152/kg
Gold and silver prices rebounded from recent lows, supported by bargain hunting at lower levels, amid slightly positive trends in both domestic and international markets. Bullion prices have surged approximately 13% so far this year, reaching record highs.
Key focus will be on US retail sales, PMI data, and Eurozone: Naveen Mathur
From gold prices to the Federal Reserve's stance on rate cuts, there's a lot happening in the world of commodities right now. In an exclusive interview with ETMarkets, Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, shares his insights on the current state of the commodities market and this week's trends.
Kajol’s co-star from ‘The Trial’, Noor Malabika Das dies at 37; her last Insta post was from Dec 2023
Noor Malabika Das gained prominence for her role in the web series 'The Trial,' starring Bollywood icon Kajol. Her film debut was in the Sangit Gaikar-directed 'Gharwali Baharwali.' Among her other notable works are 'Siskiyaan,' 'Walkaman,' 'Teekhi Chatni,' 'Jaghanya Upaya,' 'Charamsukh,' 'Dekhi Andekhi,' and 'Backroad Hustle.'
Gold slides 3% on double blow of strong jobs report, China data
Gold prices fell 3% to $2,304.54 after a strong U.S. jobs report dampened expectations for rate cuts, exacerbated by China's pause in gold purchases in May.
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Gold Price Today: Yellow metal opens slightly higher at Rs 72,914/10 gm; silver rises by Rs 1,100
Gold Price Today: In response to recent volatility in the bullion market, the August futures of gold opened 0.55% higher at Rs 72,914 per 10 grams, representing a gain of Rs 396. Both gold and silver rebounded from recent lows, attributed in part to interest rate cuts by the Bank of Canada.
NYSE glitch sparks volatility in dozens of stocks
A glitch at the NYSE caused major swings in Berkshire Hathaway and Barrick Gold shares, leading to trading halts in multiple companies. The issue was resolved, with impacted stocks resuming trading after a technical problem was fixed.
Not with standing weekly loss, downside in gold likely to remain limited
Going by the action in bonds, the markets are still not giving much credence to the idea of a rate hike. The next week is quite crucial for the financial markets as many major data and reports will be released.
Gold Price Today: Yellow metal opens flat at Rs 72,100 while silver down by Rs 1,080
Gold Price Today: Gold and silver futures open mixed on MCX ahead of US data. MCX Gold shows potential downside with support at Rs 71,700. Neha Qureshi recommends selling MCX gold at Rs 72,200 and silver at Rs 94,000.
Neeraj Chopra clarifies: Not injured, withdrawal from Golden Spike meet a precautionary move
Neeraj Chopra withdraws from Ostrava Golden Spike meet as a precaution due to adductor discomfort, prioritizing fitness for Tokyo Olympics. He will attend as a guest, with Julian Weber replacing him at the event.
Sachin Khilari defends gold at World Para Athletics, India surpasses best-ever tally
Sachin Sarjerao Khilari defended his gold medal in the men's shot put F46 category with an Asian record at the World Para Athletics Championship as the country surpassed its best-ever haul in the global competition here on Wednesday. India, now have 11 medals, five of them gold. They bettered their previous best tally of 10 (3 gold, 4 silver and 3 bronze) in the 2023 edition in Paris.
Big bosses talking up the market is very scary because things can go wrong: PV Subramanyam
PV Subramanyam advises investors to focus on long-term investment strategies, considering market cues cautiously and diversifying portfolios to mitigate risks. He says that we ne need to be careful that the market can go down. The big bosses are talking up the market, which is very scary because things can go wrong and we need to be ready for that.
Govt recovers Rs 852 crore under amnesty scheme for exporters
The government recovered Rs 852 crore under the amnesty scheme for exporters for one-time settlement of default in export obligation. The scheme, part of the new foreign trade policy, aims to settle default in export obligation by holders of advance and EPCG authorisations. Small exporters in Ludhiana have urged an extension of the scheme.
Silver trades at record high for second day in Delhi; gold falls Rs 150
Extending the record-breaking run to the second day in a row, silver prices hit lifetime high level of Rs 89,000 in the local market on Friday, even as gold prices fell Rs 150 to Rs 73,900 per 10 grams in line with firm trends in the overseas markets.
Meet the Jewel Thief who took over 100 flights, used to steal from flyers’ cabin baggage
Delhi Police arrested a jewel thief at IGI, recovering stolen jewelry and melted gold. The thief targeted seniors, stealing inside aircraft and during security checks, under the pretext of offering help.
Silver looks set to take over glitter from gold
Silver's relative underperformance to gold in the recent rally of both the precious metals and prospects of further gains in industrial metals globally could help silver gain as much as 15-20% from current levels, helping it cross the ₹100,000 per kilogram mark over a one-year horizon, said experts. The precious metal, also a key industrial input, is currently at ₹84,984 per kg on the MCX.
Akshaya Tritiya 2024: Why do people buy gold on this auspicious day?
Hindus celebrate Akshaya Tritiya, believed to bring endless prosperity. The name itself - Akshaya (eternal) and Tritiya (third) — signifies the third day of the auspicious Vaisakha month. Gold, a symbol of wealth, is a popular purchase on this day, ensuring long-lasting prosperity. Know the significance of Akshaya Tritiya and why it is an auspicious time to buy gold
Customs catches Afghan diplomat with 25 kg gold at Mumbai airport concealed in legging, jacket, belt, knee cap
DRI officials intercepted Zakia Wardak, the consul general of Afghanistan, at Mumbai airport for attempting to smuggle gold worth Rs 18.6 crore from Dubai. Wardak, possessing a diplomatic passport, had 25kg of gold bars hidden in her customised clothing. The incident occurred on April 25 and a case of gold smuggling has been filed under the Customs Act, 1962.
World gold demand surges in Q1 2024, hits record high amid central bank buying and OTC investment boom
The World Gold Council's Q1 2024 Gold Demand Trends report reveals a 3% increase in global gold demand to 1,238 tonnes, driven by healthy investment from the OTC market and persistent central bank buying. Gold price hit a record quarterly average of US$2,070/oz. Central banks added 290 tonnes to official holdings, highlighting gold's importance in reserve portfolios.
Titanic's wealthiest passenger's gold pocket watch sells for record £1.17 million at auction
A gold watch belonging to John Jacob Astor, the wealthiest passenger on the Titanic, was sold for £1.17 million ($1.46 million) at an auction in England, setting a record for the highest amount ever fetched by an item associated with the 1912 tragedy. The watch, engraved with "JJA," was recovered from Astor's personal effects after his death on the Titanic, where he ensured his wife's safety before perishing in the disaster. The auction also featured other Titanic-related items, including a violin case that belonged to the orchestra leader.
Gold over Rs 70 lakh hidden in passenger's rectum seized at Trichy airport, 1.25 kg gold found in Chennai airport lavatory
Officers of the Air Intelligence Unit (AIU) at Tiruchirappalli airport in Tamil Nadu seized 977 grams of of 24K Gold valued at Rs.70.58 lakh from a passenger arriving from Dubai.
Gold Price Today: Yellow metal rises over Rs 100 to Rs 72,785/10 grams; silver at Rs 83,385/kg
On Thursday, gold June futures contract settled at Rs 72,683 per 10 grams while the silver May futures contract settled at Rs 83,851 per kilogram with a gain of 1.25%. Gold is expected to trade with a positive bias in the near term unless geopolitical tensions subside.
Gold Price Today: Whopping gains! Yellow metal dearer by over Rs 5000/10 grams in 2024 so far. Should you buy it?
The MCX June gold futures were trading at Rs 68,644 per 10 grams around 9:10 am, rising Rs 313 or 0.46% while May silver futures were trading at Rs 76,076 per kg, higher by Rs 544 or 0.72%.
Coming soon: A shield for your pledged gold
Banks plan to establish standardised rules for heirs to repay gold loans and reclaim family jewellery after the borrower's death. Variability in current practices leads to legal challenges and auctioning of pledged gold.
Gold prices recover as softer dollar lifts appeal
Gold prices inched higher on Monday, lifted by a softer dollar, as the bullion partially recovered from a slump last week on hot U.S. inflation data that cooled prospects of early rate cuts by the Federal Reserve.
Foreign-made weapons, Rs five cr cash recovered by ED during raids in Haryana mining case
Foreign-made rifles, about 300 cartridges, Rs 5 crore in cash and more than 100 liquor bottles have been recovered during searches conducted by the Enforcement Directorate against former INLD MLA Dilbag Singh and his associates, official sources said on Friday.
Gold Rate Today: MCX gold recovers after eight sessions amid dollar retreat. Is it time to buy?
On Thursday, the MCX December gold futures were trading at Rs 56,860 per 10 gram, up by Rs 139, or 0.35%. Meanwhile, December silver futures were trading at Rs 67,399 per kg, lower by Rs 514 or 0.77%.
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