Globaly prices hit record $2,344/oz, domestic rates for jewellery gold top ₹71,000/10 gm

The asset under management of gold ETF has gone up 33 per cent to ₹28,530 crore as of February against ₹21,400 crore in February, 2023

Demand for new jewellery has almost ceased as customers await a price drop after weeks of steady increases

Akshaya Tritiya, which falls on May 10 this year, is considered auspicious to buy gold

While gold displays an uptrend on the charts, much could hinge on Fed action too

Lingering global uncertainty may boost prices again

The aggressive gold buying by the Reserve Bank of India also contributed to the rise in demand

In fact, central banks accounted for 23 per cent of the overall gold demand at 1,238 tonnes in the March quarter

SGBs offer a hedge against gold price fluctuations, with investors receiving the ongoing market price at redemption

Gold has proven to be a safe haven with increasing returns over the years

Tata Digital’s Bigbasket has partnered with Tanishq and MMTC-PAMP to offer gold and silver coins and bars

The high price for gold has also given a boost to diamond jewellers as customers look for alternatives

The report noted that the ratio of short-term debt to reserves has decreased, and foreign exchange reserves covering imports have increased to 11 months

The high prices may detract price-sensitive customers away, but he pins his hopes on the digital-savvy new generation to invest more in the gold

Analysts anticipate continued volatility in gold prices, fluctuating between ₹71,000 and ₹75,000 in the near term

Data from PMS Bazaar indicates that from FY22-24, MCX Gold returned 14.05%, outperforming the Nifty’s 13.1%

Central bank embarks on gold buying spree, adds 25 tonnes to forex reserves

MOFSL recommends “buy on dips” approach on gold when prices were hovering at ₹69,000 and $2,250 in the international market

The surge in investments can be attributed to the prospects of higher returns, tax benefits, and the bonds’ exemption from capital gains tax.

Customs officials detain Shiv Kumar Prasad for allegedly receiving 500-gram gold chain from passenger Dharmendra Dubey at IGI airport

The crew member, identified as Surabhi Khatun from Kolkata, was intercepted at Kannur International Airport and found with 960 grams of smuggled gold

Most countries keep their gold in the vaults of the Bank of England or some such location and pay a fee for the privileges

The yellow metal outlook looks strong: Sachin Jain, Regional CEO of WGC

Since late last year, all the major central banks are moving their gold reserves back home given the volatile global developments, including the unrest in West Asia and conflict between Iran and Iraq

Investors are particularly focused on upcoming job data and key economic indicators to assess the health of the U.S. economy and its potential impact on future Fed decisions

Gold price rises in futures trade due to fresh positions on firm spot demand, reaching ₹73,135 per 10 gram

Spot gold was up 0.2% at $2,396.69 per ounce, as of 0146 GMT. U.S. gold futures fell 0.5% to $2,313.60

The yellow metal set to lose its glitter on China pausing gold buys, US strong labour market

Gold demand has also been boosted due to lower confidence in other investment options, such as real estate and equities, analysts say

Bitcoin lags behind bonds, stocks and gold, signaling a possible slowdown in the crypto market

`Concessional customs duty under the India-UAE CEPA must be revised’

Apex banks’ confidence in the dollar low; high prices for the yellow metal may affect demand in India

The state has seen an increase in mineral revenue, with plans to explore new deposits through agencies like the Geological Survey of India. 

The recent increase in import duty from 7.5 to 15 per cent has significantly impacted production costs

The company’s digital platform can help users transact in the yellow metal

UIS dollar rose on safety bids after an attempted assassination of former US President Donald Trump, which raised his odds of winning

The report attributes this projection to the weakening US labour market, disinflation, and the Federal Reserve’s dovish pivot at the upcoming July FOMC meeting

Industry moots policy to bring transparency that can boost customer confidence

Telecom equipment faces hike in basic customs duty to 15 per cent

Import levy cut to 6% from 11%, AIDC pruned to 1%; move may curb smuggling

A drop in gold price can lead to increased jewellery demand, improving their revenue and profits Market experts believe the price of yellow metal could drop between ₹300 and ₹500 per gram going ahead

The precious metal’s brilliance lies not just in its physical form, but also in its adaptability to diverse investment strategies

No plan to stop the issuance of Sovereign Green Bonds, says a Senior official

Spot gold rose 0.14% to $2,446.83 per ounce, while US gold futures increased by 0.8% to $2,488.50. 

The Association for Gold Excellence and Standards will frame good practices to be followed by the entire value chain of the industry, including bullion, jewellery manufacturers and retailers

Window for redemption of SGBs issued between 2017 and 2020

Manufacturers have noted that in some cases, orders have reached levels not seen in several years, underscoring the strong buying interest among jewellery retailers and consumers alike

Merchants’ association urges Centre to review decision on mandatory hallmarking and HUIC certification for purifying old ornaments

Analysts attribute the fall in gold prices to weak global cues

The new locations will be in key markets across India, the GCC countries, and the USA, bringing the total number of showrooms worldwide to 375.