Representative image Soaring gold prices have led many Indian families to opt for lightweight and lower-carat jewellery to stay within their budgets, industry officials said. “I wanted to gift my daughter 80 grams of gold, but I was forced to scale it down to 50 grams because of price increase in the past two years,”…
Representative image Gold prices surged to 39 new all-time highs in dollar terms in 2024 till October, the highest number of record highs in 45 years. In 1979, gold prices had scaled 57 new all-time highs, showed the World Gold Council (WGC) data. In India, gold prices rose to Rs 78,500 per 10 grams from…
HYDERABAD: All that glitters may not be gold this Dhanteras and Diwali season, thanks to a 25-30% rise in the price of the yellow metal since last Dhanteras. Gold is now hovering near its life-high in the domestic and international markets.After gold’s surge to its all-time high of $2,759 per ounce on Oct 23 in…
Representative image A Rs 14,000 per 10 gm increase in its price this Dussehra compared with a year earlier has brought down the consumption of gold in India by 10% in volume terms, two national jewellery associations said. Also, consumers preferred buying jewellery this year compared with last year when gold coins and bars were…
Anuj Gupta of HDFC securities attributed the record-high gold prices to persistent optimism over U.S. interest rate cuts. (AI image) Gold rate today: Gold October futures contracts at MCX reached a new all-time high of Rs 76,000 per 10 grams on Wednesday. Over the past week, gold prices have risen by Rs 2,900 per 10…
Gold ETFs back in demand! Investors are showing renewed interest in gold Exchange Traded Funds (ETFs) due to the absence of new Sovereign Gold Bond (SGB) offerings from the government and recent tax rate reductions on funds backed by the precious metal.In the past four months, gold ETFs, which are traded on stock exchanges, have…
Gold price outlook: Goldman Sachs predicts that gold is most likely to experience a price increase in the near future due to its popularity as a risk hedge. The bank believes that upcoming US Federal Reserve rate cuts will attract Western capital back into the gold market, which has been largely absent during the sharp…
Consumers are rushing to buy gold, some even placing advance orders, on fears that prices may start rallying again after a recent decline, said jewellers and trade executives. Prices of the yellow metal fell after a customs duty cut in the budget but have since rebounded amid a rush of buyers in the world’s second-largest…
Gold demand in India fell up to 15% year-on-year in the April-June quarter, with consumers shying away from the precious metal as prices escalated. With very few wedding dates in July, demand for gold jewellery has not picked up this month either, although some jewellers said certain markets saw sporadic sales increases due to the…
India‘s gold imports in 2024 could fall by nearly a fifth from the previous year, as record high prices spur retail consumers to exchange old jewellery for new items, the head of an industry body told Reuters. Lower imports by India, the world’s second biggest consumer of the precious metal, could cap a rally that…
