Inflows in gold exchange traded funds increased sharply to ₹657 crore in January against ₹88 crore in December as the uncertainty over the US Fed cutting interest lingers apart from global economic uncertainty. The inflows was also aided by the launch of Tata Gold Exchange Traded Fund which garnered about ₹6 crore last month. The…
Malabar Gold & Diamonds, a leading jewellery retailer, has secured the 19th position in Deloitte’s Global Powers of Luxury Goods 2023 ranking. The brand has also secured the top spot in India, reaffirming its dominance in the country’s luxury market. Also read: Malabar Gold to invest ₹4,000 cr in new outlets over 2 years The…
Gold and silver produced a diverse performance last week. While the former lost 0.5 per cent to end the week at $2,013.1 per ounce, the latter gained 3.5 per cent to close at $23.4 an ounce. Similarly, on the MCX, gold futures slipped 0.7 per cent to close the week at ₹61,878 (per 10 gram),…
Gold slipped ₹100 to ₹62,700 per 10 grams in the national capital on Tuesday amid a fall in precious metal prices globally, according to HDFC Securities. The yellow metal had closed at ₹62,800 per 10 grams in the previous trade. Silver also slumped ₹400 to ₹75,600 per kilogram, while it had settled at ₹76,000 per…
True Diamond, a new player in the lab-grown diamond industry, has begun to offer 100 per cent certified lab diamond jewellery in the latest designs. “All products are certified by leading international authorities such as IGI (International Gemological Institute) and GIA (Gemological Institute of America), ensuring third-party validation of their quality. True Diamond holds a…
Extending the lacklustre trend witnessed in January, precious metals remained range-bound and the price action was devoid of any direction in February. The strength in the U.S. dollar and the recovery in the equity markets dented sentiments towards the precious metals. Also read: Is it the right time for you to buy or sell gold? …
After making a splash in the paint business last month, the Aditya Birla Group plans to venture into the gold jewellery business with the official launch of Novel Jewels in June. This is the Group’s third major foray into a new business in the last two years after paints and B2B e-commerce for building materials….
The Reserve Bank of India has directed IIFL Finance to immediately cease and desist from lending against gold. However, the banking regulator has allowed the company to service its existing gold loan portfolio through the usual collection and recovery processes. The gold loan asset under management of the company has grown 35 per cent year-on-year…
Gold prices on Tuesday surged ₹800 to hit a fresh record high of ₹65,000 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous close, the precious metal had closed at ₹64,200 per 10 grams. Silver also rallied ₹900 to ₹74,900 per kg. In the previous trade,…
IIFL Finance’s gold business is expected to undergo some massive changes in the coming months. As a start, the company will replace its internal assayers with certified external personnel to assess the value and quality of the underlying asset before loans can be extended. The company also plans to revamp and beef up its compliance…
