Reserve Bank Governor Shaktikanta Das on Friday said India has been building up gold reserves as part of its forex deployment. Also read:RBI’s forex reserves build-up leads to a huge $64.182 billion accretion in FY24 so far “We are building up gold reserves that is a part of our reserve deployment,” Das told reporters at…
Precious metals are at record levels post last week’s rally. In terms of dollars, gold and silver appreciated 4.3 per cent and 10 per cent, as they closed at $2,330 and $27.50 per ounce respectively. Similarly, on the Multi Commodity Exchange, gold futures gained 4.3 per cent to end at ₹70,636 (per 10 gram), whereas…
Notwithstanding weak demand, gold prices continued to soar to hit a new high ahead of the peak festival and wedding seasons on the back of a sharp rally in the global markets. The yellow metal used in jewellery rallied by ₹1,397 per 10 grams to ₹71,279 on Monday and crossed the ₹70,000 mark in the…
Gold exchange traded fund has been gaining traction among both investors and physical gold jewellery buyers even as the prices have been increasing steadily. Also read:As gold soars to new high, demand dwindles The asset under management of gold ETF has gone up 33 per cent to ₹28,530 crore as of February against ₹21,400 crore…
Domestic gold prices continue to scale new highs, gaining ₹1,351 per 10 grams on Friday, following cues from the global markets. The demand, however, was washed out ahead of the peak festival and wedding season. The yellow metal opened firm at ₹72,967 per 10 grams and gathered pace to close at another fresh high of…
Jewellery retailers fear a lacklustre Akshaya Tritiya this year due to soaring gold prices. Around 15-20 percent volume de-growth is expected for gold jewellery sales this time as compared with last year. Also read: Gold hits another high amid fading demand “This Akshaya Tritiya is expected to be dull volume-wise for the industry. Because the…
India’s physical investment in silver dropped by a whopping 38 per cent in 2023, even as demand for silver jewellery and wares too declined, the Silver Institute’s “World Silver Survey 2024” has said. As a result, silver imports plunged by 63 per cent to a two-year low of 111.7 million ounces in 2023. However, trading…
Hindustan Zinc Limited (HZL), a unit of the Vedanta group company in zinc-lead-silver business, has become the third largest silver producer globally, the World Silver Survey 2024 said. The survey, brought out by the New York-based The Silver Institute, said the company’s Sindesar Khurd Mine was now the world’s second largest silver-producing mine, moving up from…
Gold appears unstoppable, skyrocketing so far in 2024, particularly since early March. The yellow metal, which ended at $2,390 per ounce on Friday, has appreciated 16 per cent year-to-date (YTD). Similarly, in the domestic market, gold futures, at ₹72,806, gained 15 per cent. In recording this stellar gain, gold has outperformed equities so far this…
Gold prices plummeted on Tuesday following a relaxation of tensions in West Asia over the weekend, as both Iran and Israel abstained from additional drone attacks. Besides the de-escalation of war threats, huge profit-booking following the recent price surge and a resurgence in the US economy also exerted downward pressure on gold prices. Gold prices…
