Latest news with #AbansFinancialServices
Time of India
7 days ago
- Business
- Time of India
Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market silver prices rose by Rs 100 to Rs 1,00,100 per kg (inclusive of all taxes) on the global front, spot gold jumped USD 59.21 per ounce or 1.80 per cent to USD 3,348.61 per ounce."Gold prices rise amid growing uncertainty after President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25 per cent to 50 per cent, effective the day after tomorrow," Abans Financial Services ' Chief Executive Officer Chintan Mehta the geopolitical front, escalating geopolitical tensions between Russia-Ukraine and conflicts in the Middle East also lifted the gold prices, Mehta Securities' Senior Analyst of Commodities Saumil Gandhi said investors will be monitoring the US May ISM Manufacturing Purchasing Managers & Index (PMI) report, which is scheduled to be released later in the to commodities market experts, traders will also be awaiting the commentary by US Federal Reserve Chair Jerome commentary by the Fed Chair Powell will play a key role in the future monetary policy outlook and will influence the price dynamics and determine the next leg of a directional move for the bullion prices, they said. PTI
Economic Times
7 days ago
- Business
- Economic Times
Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues
Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa Association. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market silver prices rose by Rs 100 to Rs 1,00,100 per kg (inclusive of all taxes) on the global front, spot gold jumped USD 59.21 per ounce or 1.80 per cent to USD 3,348.61 per ounce."Gold prices rise amid growing uncertainty after President Donald Trump announced plans to double tariffs on steel and aluminium imports from 25 per cent to 50 per cent, effective the day after tomorrow," Abans Financial Services ' Chief Executive Officer Chintan Mehta the geopolitical front, escalating geopolitical tensions between Russia-Ukraine and conflicts in the Middle East also lifted the gold prices, Mehta Securities' Senior Analyst of Commodities Saumil Gandhi said investors will be monitoring the US May ISM Manufacturing Purchasing Managers & Index (PMI) report, which is scheduled to be released later in the to commodities market experts, traders will also be awaiting the commentary by US Federal Reserve Chair Jerome commentary by the Fed Chair Powell will play a key role in the future monetary policy outlook and will influence the price dynamics and determine the next leg of a directional move for the bullion prices, they said. PTI
The Print
22-05-2025
- Business
- The Print
Gold rises Rs 200 to Rs 98,650/10 g; silver rallies Rs 2,040 per kg
In contrast, silver prices in the local markets breached the crucial Rs 1 lakh per kg level by rallying Rs 2,040 to Rs 1,01,200 per kg (inclusive of all taxes) on Thursday. Gold of 99.5 per cent purity increased by Rs 200 to Rs 98,200 per 10 grams (inclusive of all taxes) on Thursday. New Delhi, May 22 (PTI) Gold prices rose Rs 200 to Rs 98,650 per 10 grams in the national capital on Thursday due to a pick-up in local demand by jewellers and stockists, according to the All India Sarafa Association. Firm global trends and escalating tensions in the Middle East also supported the local prices, the association. 'Gold prices extended their rally as the US dollar remained under pressure, following renewed concerns over economic stability,' Abans Financial Services Chief Executive Officer Chintan Mehta said. US President Donald Trump's proposed budget, which includes significant tax reductions, is projected to add over USD 3 trillion to the national debt. This has heightened fears of financial instability and weakened confidence in US government bonds, Mehta said. Meanwhile, spot gold slipped 0.50 per cent to USD 3,298.69 per ounce in the international markets. 'Gold prices traded positive supported by a sharp decline in the US Dollar Index and renewed concerns over US debt sustainability. 'The weaker dollar and ongoing global geopolitical uncertainties have sustained investor interest in gold as a safe-haven asset,' Jateen Trivedi, VP Research Analyst of Commodity and Currency at LKP Securities, said. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said gold extended gains on Thursday, driven by safe-haven demand amid renewed tensions between the US and China, which dampened investors' appetite for riskier assets, leading to increased demand for the safe haven. According to Kaynat Chainwala, AVP – Commodity Research, Kotak Securities, market participants will be awaiting the release of key flash PMI data from major global economies, including the US and UK and US jobless claims, later in the day. PTI HG HG BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
News18
19-05-2025
- Business
- News18
Gold Rallies Rs 580 To Rs 97,030 In Delhi; Silver Climbs Rs 500
Last Updated: 'Gold prices edge higher, but remain under pressure, as softer US PPI and CPI data for April indicate disinflation,' says Abans Financial Services CEO Chintan Mehta. Gold prices rallied Rs 580 to Rs 97,030 per 10 grams in the national capital on Monday amid strong trends in the international markets, according to the All India Sarafa Association. On Friday, the precious metal of 99.9 per cent purity had closed at Rs 96,450 per 10 grams. Gold of 99.5 per cent purity climbed Rs 580 to Rs 96,580 per 10 grams (inclusive of all taxes) on Monday. It had settled at Rs 96,000 per 10 grams in the previous market session. 'Gold prices edge higher, but remain under pressure, as softer US PPI and CPI data for April indicate disinflation. At the same time, the US Treasury yield is approaching 4.5 per cent, extending Friday's rebound after rating agency Moody's downgraded the US credit rating from Aaa to Aa1," Abans Financial Services Chief Executive Officer Chintan Mehta said. This move has reignited interest in gold, as investors reduce exposure to US Treasury bills and seek a safe haven asset, Mehta added. Additionally, silver appreciated by Rs 500 to Rs 98,500 per kg (inclusive of all taxes). The white metal had ended at Rs 98,000 per kg on Friday. Meanwhile, the most traded contract for gold futures rallied Rs 1,182 or 1.28 per cent to trade at Rs 93,623 per 10 grams on the Multi Commodity Exchange (MCX). Silver futures for July delivery increased Rs 662 to trade at Rs 95,980 per kg on the commodities bourse. On the global front, spot gold went up by USD 39.05 or 1.22 per cent to USD 3,241.82 per ounce. 'Focus during the week will be on the US macroeconomic data such as manufacturing/ services PMI, and housing data," Pranav Mer, Vice President, EBG – Commodity & Currency Research, JM Financial Services, said. The data release will provide more impetus for the US Federal Reserve's future monetary policy cycle. According to Goldman Sachs, gold will rise to $3,700 per ounce by the end of 2025, as central banks continue to buy tonnes of the precious metal every month. The commodity is also likely to climb as ETF investors increase their holdings in anticipation of interest rate cuts by the US Federal Reserve and amid growing recession concerns. In the event of a recession, Goldman Sachs forecasts that gold could rise to as much as $3,880 per ounce, the investment banking firm said in a note. (This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI)
Time of India
13-05-2025
- Business
- Time of India
Gold surges Rs 950 to Rs 97,500/10 g amid firm global cues
New Delhi: Gold price rallied by Rs 950 to Rs 97,500 per 10 gram in the national capital on Tuesday amid firm trend in overseas markets, according to the All India Sarafa Association. The precious metal of 99.5 per cent purity jumped Rs 1,000 to Rs 97,100 per 10 gram. On Monday, gold of 99.9 per cent and 99.5 per cent fell sharply by Rs 3,400 each to Rs 96,550 and Rs 96,100 per 10 grams, respectively. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Meanwhile, silver depreciated Rs 250 to Rs 99,450 per kg against the previous close of Rs 99,700 per kg. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. "Gold prices have risen again after a sharp correction, as safe-haven demand eased following a pause in the US-China trade war ," Abans Financial Services ' Chief Executive Officer Chintan Mehta said. The US agreed to cut tariffs on Chinese imports to 30 per cent from 145 per cent, while China reduced duties on US goods to 10 per cent from 125 per cent. Live Events This tariff relief brought some calm to global markets, leading to a rally in equities and a pullback in gold over the past two days, Mehta added. Globally, spot gold quoted higher at USD 3,253.38 per ounce. "Gold fell over 3 per cent on Monday, lowest closing in nearly two weeks. However, the metal rebounded slightly on Tuesday, edging above USD 3,240 per ounce," Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said. The safe-haven demand emerged amid reports of Israeli airstrikes on Houthi rebel positions in Yemen, she said. Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said market participants are closely awaiting the US Consumer Price Index (CPI) data later in the day. The inflation print could influence the US Federal Reserve's interest rate outlook and, in turn, affect gold's trajectory, Trivedi added.
