Gold prices rallied by ₹831 to ₹74,222 per 10 grams on a firm trend globally over the weekend on fear of renewed tension between Iran and Israel after Iran’s President helicopter crash. This apart, the recent fall in the US inflation rate has raised expectations of a cut in the US interest rate sooner rather…
Gold has beaten Nifty 50 over a 2-year and 5-year period but underperformed over a 10-year and 3-year period. Yellow metal outperformed Nifty in 3 out of 10 years between 2014 and 2024. Data from PMS Bazaar shows that from FY22-24, MCX Gold returned 14.05 per cent compared with 13.1 per cent returned by the…
After having surged to over 11-year high, silver prices will likely rule at elevated levels as the precious white metal will face a deficit for the fourth year in a row amidst tight supplies. On Wednesday, silver prices in London ruled at $31.75 per troy ounce. In India, silver for delivery in July on MCX…
The Reserve Bank of India (RBI) holds 828.6 tonnes of gold currently, which is more than the country’s average annual demand of 750-800 tonnes, notwithstanding the high prices for the precious metal. RBI has joined other central banks in gold plating now. The overall demand for gold in the country last year was down marginally…
Gold and silver prices dropped last week on profit booking. While the former lost 3.4 per cent the latter was down 3.8 per cent as they closed at $2,334 and $30.3 per ounce, respectively. Similarly, on the Multi Commodity Exchange, gold futures dropped 3.3 per cent to end at ₹71,256 (per 10 gram), whereas silver…
Motilal Oswal Financial Services expects gold prices to touch ₹81,000 per 10 grams, as the price in the international market is expected to soar to $2,650 an ounce. In its latest report, it said gold recorded a gain of about 14 per cent year-to-date in the domestic market and that of silver was 27 per…
Sovereign gold bonds have caught the fancy of investors, who bought Rs 27,031 crore worth of the bonds last fiscal, an amount more than four times the amount invested in 2022-23, on the prospects of higher returns and tax benefits. The bonds bought by investors represented a whopping 44.34 tonne of gold during 2023-24. In…
Shiv Kumar Prasad, a Personal Assistant to Congress MP Shashi Tharoor, has come under the scanner of the customs authority for allegedly being involved in gold smuggling, which was unravelled when a passenger was intercepted by sleuths at the IGI airport on Wednesday for carrying an undeclared chain of the precious metal weighing 500 grams….
A female crew member of an airline was held for allegedly smuggling nearly one kilogram of gold from Muscat to Kannur by concealing it in her rectum, a DRI source said here on Thursday. Based on specific intelligence by DRI Cochin, officers of the Directorate of Revenue Intelligence (DRI – Kannur) intercepted the cabin crew…
In an about-turn from the economic liberalisation days of 1991 when India shipped out gold and pledged it overseas to avert a looming financial crisis, the country has now shipped in a little over 100 tonnes of its gold reserves held in the UK. Sanjeev Sanyal, a noted economist and a member of the Economic…
