GOLD SHINED
Gold holds ground as traders brace for US inflation data
Gold prices rose for the third session with investors awaiting U.S. inflation data for potential Fed rate cuts. Spot gold at $2,375.70. CPI, PPI may support rate cuts. Edward Meir sees possible further rise. FedWatch tool predicts rate cuts, discussed by Powell and House. Silver up 0.4%, platinum at $991.80, palladium at $992.30. Gold shines with low inflation.
Gold prices steady with spotlight on US inflation print
Gold prices remain stable as investors await U.S. inflation data to assess Federal Reserve's interest rate strategy. Fed Chair Powell indicates potential for looser monetary policy. Market attention shifts to upcoming CPI data. Global gold ETFs experience increased inflows.
Radhika Merchant's Mameru look decoded: 'Durga Shlok' lehenga and mom's heirloom jewelry shine. Check Pics
Radhika Merchant kicked off her wedding festivities with the traditional mameru ceremony, held at Antilia. She dazzled in a custom Manish Malhotra lehenga, featuring intricate gold taar zardosi embroidery and a 'Durga Shloka' inscribed on the borders. Adding a sentimental touch, she wore her mother Shaila Merchant's jewelry, which included a gold choker, jhumkas, bangles, and a maang teeka. The mameru ceremony is a Gujarati tradition where the bride's maternal uncle presents her with gifts and blessings.
'Chandu Champion' review: Netizens hail Kartik Aaryan's honest portrayal of Murlikant Petkar in Kabir Khan's sports drama
'Chandu Champion' is a sports biopic starring Kartik Aaryan as Murlikant Petkar, India's first Paralympics gold medallist. Directed by Kabir Khan, the film narrates Petkar's inspiring journey from childhood struggles to overcoming adversities and achieving glory in sports. Audiences and critics have praised Kartik Aaryan's transformative performance, calling it his career-best.
IPO gold rush for investors; second-hand EV sales sputter
Happy Monday! Investors in new-age startups are set for huge gains as these firms list on the public markets. This and more in today’s ETtech Morning Dispatch.
Investors taking a shine to Indian climate tech space
Over the last 12-15 months, investors such as Blume Ventures, Leo Capital and new entrants like Synapses have been betting on climate tech startups. Even global investors are looking to invest in climate tech companies.
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Organised jewellery retailers likely to witness 17-19 pc revenue growth in FY25: Report
The report further stated that the working capital requirements of retailers might increase due to higher inventory levels resulting from the substantial rise in gold prices and new store additions. However, credit profiles should remain stable, it added.
Organised gold jewellery retailers to achieve strong revenue growth in FY25: CRISIL
A CRISIL Ratings report forecasts 17-19% annual revenue growth for organised gold jewellery retailers in fiscal 2025, driven by higher gold prices. Retailers plan marketing efforts to counter demand moderation. Operating profitability may slightly decrease due to increased inventory. Organised retailers will continue gaining market share, with stable credit profiles despite rising working capital debt.
Global glut takes shine off Indian lab-grown diamonds
Indian lab-grown diamonds (LGDs) prices crashed by 45% in FY24 due to overproduction in global markets. Indian LGD exports dropped by 18.2% in April to $83.77 million as demand rises with increasing gold prices, prompting consumers to opt for LGDs to reduce jewelry costs.
‘Chandu Champion’ trailer out! Karthik Aaryan shines as a decorated war veteran-turned-wrestler
In the trailer for his upcoming sports drama 'Chandu Champion', Karthik Aaryan undergoes a remarkable transformation into a war veteran turned wrestler, showcasing a willingness to overcome challenges at any cost. The 'Bhool Bhulaiyya 2' actor unveiled the trailer in his hometown of Gwalior on Saturday. The dynamic, high-energy trailer offers a compelling glimpse into the emotional journey of the titular character as he navigates through different stages and milestones of his life.
Longer for higher rates may dim gold’s shine next week
Next week, US CPI data will be released, which will be crucial for gold. In case of hotter-than-expected inflation data, gold will fall. The bullion rally has coincided with a rally in risk assets and bonds.
Why does gold have an important place in everyone's portfolio, irrespective of age and gender?
As Akshaya Tritiya approaches, a time considered auspicious for buying gold for prosperity and good fortune, the gold-buying frenzy is about to be unleashed notwithstanding the current stratospheric rates gold has reached currently. The decision to buy gold this Akshaya Tritiya depends on several factors. Check here before you invest.
Akshaya Tritiya 2024 shubh muhurat: When is the best time to buy gold this Akshaya Tritiya? Check city-wise list here
Gold is associated with riches and purity, and purchasing it on this day is believed to increase its blessings, signifying the endless character of the profits. As the term ‘Akshaya’ means ‘never diminishing’, it is believed that buying gold at this festival guarantees endless wealth.
Jewellery chains take a shine to malls as buyers go for brands
Jewellery shops are becoming a prominent feature in shopping malls in India, as consumers shift towards established retailers. Each mall now has about 8-10 jewellery stores, occupying nearly 5% of total mall space, up from just 1% two years ago. The organised jewellery retail segment has been outpacing other consumer discretionary segments since April 2023, contributing 15-20% of mall revenues despite occupying only about 5% space.
Gold Rate Today: Yellow metal shines in opening trade. Should you buy or book profits?
Gold prices were steady on Thursday ahead of the inflation numbers that are due for release later today. The yellow metal has traded in a tight range this week and it was trading with a minor uptick in the early trade amid a slip in the dollar index (DXY).
Demand for safe-haven gold to shine in 2024 amid geo-political uncertainties: World Gold Council CEO David Tait
"The sovereign gold bond offers choices to investors to invest (in “paper gold”). You get a certain yield from it as well. I don't see why that would be a negative for the gold market as a whole. I think it's encouraging people to see gold's value as an investment commodity and a stabilizer to their household or institutional income. So no, I don't see it as a threat (to the physical gold trade). I would be very surprised if it grew to such an extent to be a threat," says David Tait.
Gold Price Today: Yellow metal shines on Friday amid softer US economic data; check out the day’s trading strategy
Gold is on its way to having its largest drop in two months after some inconsistent economic data from the US made it unclear what the Federal Reserve might do next about interest rates, Neha Qureshi, Senior Technical & Derivative Analyst at Anand Rathi Commodities & Currencies said.
Budget 2024 can polish India’s gold & diamond industry to shine for the world
Budget: The interim Budget with strategic moves can give the Indian gold jewellery industry a boost. An infrastructure boost can ensure competitive prices for raw materials and availability of gold loans. Skill development and government support for machinery procurement will enhance manufacturing capabilities. Special financing can help Indian brands expand globally. Budgetary support for cost of capital and marketing will improve reach and attract international brands. These steps can make India a global hub for the gems and jewellery industry.
ETMarkets Fund Manager Talk: Equity returns in 2024 should be tempered down, but gold set to shine: Sunil Subramaniam
Sunil Subramaniam of Sundaram Mutual Fund expects Indian equities to have a good first half of 2024, but warns of volatility in the second half. He recommends a large cap-oriented equity with allocation to gold and debt for a event-heavy 2024. He believes that consumption, banking, IT, and pharma sectors will perform well. In terms of asset allocation, he suggests a multi-asset allocation fund with a focus on BFSI, consumption, and IT. He also mentions that the outlook for gold remains positive.
Ram Mandir: Demand for gold and silver Ram Mandir coins, statues shines
Jewellers in Uttar Pradesh are witnessing strong sales of Ram temple coins, Ram Darbar statues in gold and silver, and other related articles ahead of the consecration ceremony in Ayodhya. Ayodhya-based Rajan Jewellers reported a surge in the sale of gold coins with images of the Ram Mandir, from an average of five to 20-25 daily.
Gold ETFs shine bright in 2023; log Rs 2,920 crore inflow amid geopolitical uncertainty
"Higher inflation and subsequent hike in interest rates augured well for gold. Moreover, heightened geopolitical tension triggered due to the war between Israel and Hamas made it an attractive and safe investment destination for investors," Himanshu Srivastava, Associate Director - Manager Research at Morningstar Investment Research India, said.
Wedding season fails to add shine to gold demand
Some jewellers said they are now pushing studded jewellery where the margins are up to 3x higher than plain gold jewellery.
Gold bond shines with 128% tax-free return in 8 years but a jeweller wins hands down
But equity bulls betting on a gold jeweller, with over 844 branches at last count, have managed to outshine even the yellow metal with a fascinating 801% return.
SGB vs Sensex: Ahead of gold bond redemption, which one shines brighter?
The RBI has set the redemption price at Rs 6,132 per gram which is a 128% (Rs 3,448) premium over the issue price of Rs 2,684 per gram, the interest income is calculated over the issue price at 2.5% per annum for the maturity period of eight years
Big Bullion Sale: Gold shines amid festive fireworks
Sales of the worst affected mass-to-mid segment products across categories have also seen a slight improvement in this season with single-digit growth, according to companies, retailers and market researchers. The revival has been driven by urban and semi-urban markets, with the critical rural markets still showing no signs of a recovery.
Big bullion sale: Gold shines amid festive fireworks
Demand for gold in the country increased about 7.7% by volume to an estimated 42 tonnes and 10% by value to ₹22,000 crore, according to the India Bullion and Jewellers Association (IBJA). Gold prices fell about ₹1,500 per 10 gm in two days to ₹60,400 per gm on Friday, helping drive sales.
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