SILVER KILO
Silver prices surge to nearly Rs 90,000/kg, still enough room for prices to move north
Silver prices surged to nearly Rs. 90,000 per kg, hitting an all-time high, driven by increased industrial applications and speculation of no immediate reduction in US Federal Reserve policy rates. Within a month, silver prices rose by over 5%, with analysts attributing this surge to growing industrial demand from electric vehicle and photovoltaic solar panel manufacturers. High prices prompted selling of household silver in Mumbai's Zaveri Bazaar. Importantly, silver imports in FY24 rose by about a third, indicating strong industrial procurement and stable prices.
Gold’s Own Country: A lucrative trade fueled by rival gangs and high demand
In the world of gold smuggling in Kerala, intricate schemes unfold, often involving carriers from the UAE, rival gangs, and strategic maneuvers to avoid detection. This illicit trade, deeply rooted in gang rivalry and hawala transactions, thrives alongside Kerala's enduring love for gold. Despite Customs crackdowns and high import duties, smuggling persists, driven by the state's insatiable appetite for the yellow metal. The lure of profit continues to outweigh the risks, ensuring that the clandestine trade in Kerala's gold remains a lucrative enterprise.
Hindustan Zinc mined metal output marginally down at 299 KT Q4; silver 5 pc up
Hindustan Zinc Ltd's mined metals output decreased in FY24 Q4, but production increased in 2023-24. Refined metal production also saw growth. The company, based in Udaipur, is known for zinc, lead, and silver production.
India gears up for Ganesh Chaturthi 2023: Bengaluru temple decorated with currency notes worth Rs 65 lakhs; Mumbai idol decked in gold worth 69 kilos
Communities in India are preparing to celebrate Ganesh Chaturthi, a festival marking the birth of Lord Ganesha. In Bengaluru, the Sri Sathya Ganapathy Temple has adorned its premises with Rs 65 lakh worth of currency notes and coins as decorations. In Puducherry, students have created a 15-foot-tall Ganesha idol using 450 kilograms of paper. Meanwhile, in Mumbai, the Gowd Saraswat Brahaman Seva Mandal has unveiled a majestic idol adorned with 69 kilograms of gold and 336 kilograms of silver.
ETtech in-depth: Cloud kitchens change flavours as pandemic-driven sheen fades away
Cloud kitchens, which boomed during the pandemic, are slowing down. They are busy redrawing their plans to adapt to the new reality
As silver ETF offerings hit the market, analysts advise caution
Analysts and wealth advisors said silver is not a 'buy-and-hold' asset, unlike gold, as it tends to witness wild swings, making it imperative for investors to get the timing of its purchase and exit right.
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I dedicate this medal to my country and thank the billion prayers of all Indians: Mirabai Chanu
Mirabai ended the Snatch round with a best valid lift of 87kg. In the Clean and Jerk, she declared her first lift to be of 110kg. With a C&J world record of 119kg in her name, it was more likely that Mira would do it. But it still had to be done. She climbed up the stage, looking calm as ever, and got all three green lights, before loosening her grip on the iron bar. It virtually confirmed her silver.
Silver delivery may top Rs 700 cr on MCX
The recently-concluded silver futures contract on stock exchange MCX has witnessed a delivery intention of 80.85 tonnes worth a whopping Rs 545 crore in what could be a record for a single day.
India's gold punters hit by double whammy of duty cut, fall in overseas price
The duty cut, along with the recent correction, has caused inventory loss to jewellers who haven't hedged their risk, to Sovereign gold bond holders and gold bulls on the futures market.
12-14% risk-free return results in Rs 800 crore silver delivery on MCX
"This arbitrage trade has beaten returns on most other assets like bank FDs," said Amit Modak, CEO, PN Gadgil and Sons.
Heard on the Street: DeMon buyers of gold, silver getting exit now
Grapevine has it that residents who purchased gold and silver jewellery, and bars and coins at huge premiums post demonetisation on November 8, 2016 have got an exit with gold hitting record highs.
Gold hits another record, but silver outperforms with stellar returns
In the month through August 5, silver has risen 44.6% to Rs 71,200 a kilo, according to trade body IBJA' s PM rate.
Silver poised to open above Rs 60,000 per kg
Analysts have advised caution on the counter but the price momentum is too strong.
Traders advise caution as silver hits 7-year high
As silver in rupees rose to a seven year high of Rs 57284 per kilo on MCX , a trade constituent and analyst advised caution as the so-called gold silver ratio had corrected to 86 from 120.
MCX gets Sebi nod to launch options on spot gold, silver
The gold mini option will be launched from August expiry onwards with expiry matching with gold mini futures.
BSE to launch liquidity enhancement scheme in gold mini, silver kilo from next month
The exchange launched options on gold mini (100 grams) and silver kilo on June 1.
BSE launches options on gold mini, silver kg
The two contracts launched are gold mini (100 gram) and silver kilo, the exchange said in a statement.
BSE, NSE to offer options on gold, silver from June
NSE and BSE will offer options on the underlying gold and silver contracts.
Brokers cut client positions on silver futures
MCX raised the initial margin on silver active contract from 14.61% to 26.57% intraday on Monday
All that glitters: Britain unveils new seven-kilo, £7,000 gold coin to celebrate 'No Time To Die'
The coin is engraved with an image of Bond's favourite car - an Aston Martin DB5 - and its famous BMT 216A number plate.
How silver futures contracts work
Today, we wade the reader through silver futures traded on commodity exchanges like MCX.
Bulls in silver see red
Nitin Kedia of Kedia Commodity added that the 3.8% fall in silver and gold to a lesser extent could result in some brokers making margin calls on their clients .
Gold Rate Today: Gold, silver fall on lower spot demand
The trend in the overseas markets was also uninspiring. Gold slipped in the wake of the dollar's rise against its major global peers.
Gold Rate Today: Gold jumps on healthy spot demand
Gold prices steadied in global markets, after recovering from a more than five-week low in the previous session.
Gold lacklustre on muted demand; silver shines
The MCX Gold was trading at Rs 33,510 per 10 grams, up by Rs 7, around 12:05 pm.
Gold Rate Today: Gold, silver fall on low demand
Firm global trend capped the losses in the safe-haven asset.
Gold Rate Today: Gold, silver flat on muted demand
Muted demand of the precious metal by local jewellers at the spot market weighed on metal's trade.
Gold Rate Today: Gold, silver shine on uptick in demand
Gold steadied in global markets as the dollar eased against its global peers.
Gold Rate Today: Slump in local demand pulls gold prices lower
The MCX Gold was trading at Rs 32,125 per 10 grams, down by Rs 16 around 11 am.
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