Gold rises 1.3% as global tensions push investors towards safer haven
Live Events
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Gold went up by 1.36 per cent on Tuesday compared to the day before to touch Rs 94,344 per 10 gm at the retail level. With a Goods & Services Tax (GST), a customer has to pay Rs 96724 per 10 gm at the jewellery store.Vaibhav Porwal, Co-Founder of Dezerv, a wealth management company, said, "Gold has doubled in the last five years and is trading at an all-time high. There have been multiple periods in the past decade where significant gaps emerged between returns from gold and equities.'Three key reasons why gold prices are peaking right now: global tensions are pushing investors towards safer assets, the US recession fears are creating market panic, and a weakening dollar is enhancing gold's attractiveness.Gold continues to serve as a crucial hedge against currency volatility and geopolitical risks, offering stability during uncertain times.'Its inherent value transcends market cycles and currency fluctuations, making gold both portfolio insurance during market turbulence and a strategic asset capable of enhancing overall long-term returns. Unlike equities, fixed income, or real estate, which require extensive analysis and expertise, gold offers simplicity. It doesn't demand specialised knowledge or significant time investment, making it accessible to all investors,' said Porwal.However, gold prices have fallen from the high of Rs 1 lakh per 10 gm, which was touched on April 22. Explaining the reasons behind falling gold prices, Renisha Chainani, head of research at Augmont Gold, said, ' There are many factors like the US and China deciding to reduce import duties on each other's goods for ninety days to de-escalate their trade war. The United States will lower additional tariffs it slapped on Chinese goods from 145% to 30%, and Chinese charges on US imports will drop from 125% to 10%. The new measures will take effect for the next ninety days.'Chainani said that 'Investor attention will now shift to the agreement's specifics and what transpires after ninety days, but U.S. inflation data will be in focus today. Amid the height of tariff-induced fear in mid-April, traders were pricing in nearly 100 basis points of cuts; currently, they are pricing in 57 basis points this year.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
14 minutes ago
- Time of India
Quoting DIN (document identification number) not needed in tax notices, clarifies CBIC
New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) Monday clarified that quoting a document identification number (DIN) is not required for communications generated through the common portal of GST, including show-cause tax notices, if they already bear a reference number (RFN). The CBIC had amended its earlier circular that made it mandatory to quote a DIN on all communications sent to taxpayers and other concerned persons. The move was initiated after several taxpayers did not respond to GST notices as they did not bear a DIN. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 5 Wealth Management Firms in The United States SmartAsset Learn More Undo The decision to exempt communication bearing RFN from DIN requirement is based on the fact that RFN is already verifiable through the GST portal, providing details of the document such as date of RFN generation, date of issuing the document, module, type of communication and name of the office issuing the document. "It is therefore clarified that for communications via common portal (in compliance with Section 169 of the CGST Act, 2017) having verifiable reference number (RFN), quoting of document identification number (DIN) is not required and such communication bearing RFN is to be treated as a valid communication," the CBIC circular said. Live Events
Time of India
24 minutes ago
- Time of India
Telangana RTC hikes bus pass fares
Hyderabad: The Telangana State Road Transport Corporation (TGSRTC) increased bus pass fare across all categories by 20–30 per cent. The ordinary bus pass fare increased from Rs 1,150 to Rs 1,400, while the metro express pass rose from Rs 1,300 to Rs 1,600. Tired of too many ads? go ad free now Similarly, metro deluxe bus pass fares went up from Rs 1,450 to Rs 1,800. The new fares came into effect on Monday. TGSRTC stated that the student bus pass fees remained the same over the past three years. Due to rising operational expenses, student bus pass rates were revised. Higher student commuter volumes are observed in Hyderabad and its suburban regions during peak morning and evening hours. To address this congestion issue, RTC permitted students to use their bus passes on city metro express services alongside regular buses.
Time of India
24 minutes ago
- Time of India
Rs 125 crore factory complex near medical device park to boost startups
Noida: Yamuna Expressway Industrial Development Authority (YEIDA) has launched a tender for a flatted factory complex spanning 38,665 sqm near its 350-acre medical device park in Sector 28. The Rs 125-crore complex is to be completed within 24 months and is expected to boost the entry of MSMEs and startups in the area. The complex, proposed to be a five-storey industrial space offering plug-and-play units with built-in utilities and shared amenities, like cafeterias, exhibition halls, parking space, retail shops and lifts, will offer 252 office units on a rental basis to startups to lower entry barriers. YEIDA CEO Arun Veer Singh said the complex is among the 11 factory complexes proposed off the Yamuna Expressway. "Flatted factory complexes support the state's vision of becoming a leading industrial hub with a focus on MSMEs and startups. Around 3,000 affordable and ready-to-use industrial spaces are currently in the pipeline, and at least 75% of these units will be reserved for MSMEs and 25% for startups," he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo TOI earlier reported that a factory complex is to come up in Sector 10 to support the 206-acre electronics manufacturing cluster (EMC) with 228 units, while two large plots—20,234 sqm and 44,515 sqm—have also been earmarked for flatted factories in the YEIDA areas. Each of these complexes is proposed to be tailored for proposed industrial parks like medical device, semiconductor, IT, apparel and toy. Noida Entrepreneurs Association (NEA) vice president Sudhir Shrivastava told TOI that factory complexes are needed across Noida, Greater Noida and Yamuna authority areas as the govt positions the region as India's next manufacturing hotspot. "Setting up a factory involves significant financial investment, besides approvals from multiple departments such as the Authority, power, fire and others, which often deters entrepreneurs. A factory complex addresses these challenges, as the Authority takes care of the development and necessary clearances. This allows micro and small enterprises, typically employing between 5 to 20 people, to rent space and start operations with ease," he said. NEA has 3,600 registered members in the city, dealing in different businesses. While Noida does not have any designated factory complexes, the concept has found standing in the city, too. With high land and rental costs, several small-scale industries such as furniture, handicrafts, and packaging currently operate out of smaller office buildings in sectors 6, 9, and 10, while some factories operate out of UPSIDA industrial area in Surajpur.
