Latest news with #AkshaKamboj
News18
2 days ago
- Business
- News18
Gold Price Rises Today: Check Precious Metal Rates In Delhi, Mumbai, Other Cities On June 11
Silver Price In India Today (June 11, 2025) The price of silver traded higher by Rs 100 at Rs 1,09,100 per kg in Mumbai, according to Aksha Kamboj, vice-president of the India Bullion and Jewellers Association, said, 'Gold prices remain volatile as investors await a clearer resolution from the ongoing US-China trade negotiations taking place in London. A favourable outcome of the US-China trade talks is likely to drive gold prices down. Attention is also turning to inflation data set to be released over the next three days in both India and the UK. Additionally, Thursday's auction of long-term Treasury bonds may offer further guidance on price movements." 'Gold May Fall 12-15% In Two Months' According to a report by brokerage house Quant Mutual Fund, after an impressive upside move in the past few months, gold prices might fall by 12-15% in the next two months."Gold has peaked out and has the potential to correct by 12-15% in dollar terms over the next two months. However, our medium-term and long-term views are equally constructive, and we reiterate that a meaningful percentage of your portfolio should be dedicated towards precious metals," Quant Mutual Fund stated in its latest 'Factsheet for June 2025'. International market rates, import duties, taxes, and fluctuations in exchange rates primarily influence gold prices in India. Together, these factors determine the daily gold rates across the country. In India, gold is deeply cultural and financial. It is a preferred investment option and is key to celebrations, particularly weddings and festivals. With constantly changing market conditions, investors and traders monitor fluctuations closely. Staying updated is crucial for effectively navigating dynamic trends.
Mint
05-06-2025
- Business
- Mint
Gold trades rangebound; RBI MPC meeting, US payroll data in focus
Gold price today: Gold rates remained in a range in the domestic futures market on Thursday morning, reflecting caution ahead of the Reserve Bank of India's Monetary Policy Committee (MPC) decision on Friday. MCX Gold August 5 contracts swung between gains and losses in early deals, trading 0.08 per cent lower at ₹ 98,500 per 10 grams around 9:10 AM. The RBI MPC is expected to cut the repo rate by 25 bps on Friday, June 6. Experts say that as a rate cut is largely discounted, it may not give a fresh boost to investor sentiment. However, a favourable projection of inflation and growth could weigh on gold prices. Gold prices have mixed triggers at this juncture. As recent macroeconomic data show signs of a slowdown in the US economy, investors are now focused on the upcoming payroll and unemployment figures, due on June 6, and signals from the US Federal Reserve regarding potential interest rate cuts this year. "Caution continues to dominate the bullion market as multiple factors could influence price movements in either direction," Aksha Kamboj, Vice President, India Bullion and Jewellers Association and Executive Chairperson, Aspect Global Ventures, observed. On the geopolitical front, fresh escalations in tensions between Russia and Ukraine are positive for gold prices. According to Reuters, "Russian President Vladimir Putin told US President Donald Trump on Wednesday that he would have to respond to Ukrainian drone attacks on Russia's nuclear-capable bomber fleet." Uncertainty over US-China trade relations is also expected to support gold prices. Both countries have accused each other of violating the trade agreement announced in May. Meanwhile, President Trump said Chinese President Xi Jinping is 'extremely hard to make a deal with.' Kamboj underscored that gold is currently trading near record highs, driven by bargain hunters who aim to capitalise on ongoing uncertainties surrounding trade relations between the US, China, and the European Union. "Should tensions escalate, particularly if Iran rejects a proposed US nuclear deal or if US-China relations worsen, bullion prices may see further upside. On the other hand, upbeat jobs data expected through the week could boost equity markets, potentially prompting profit-taking at these elevated levels," said Kamboj. According to Rahul Kalantri, VP of commodities at Mehta Equities, gold has support at $3,340-3,315 and resistance at $3,395-3,420. Silver has support at $34.25-33.90 and resistance at $34.70-34.95. In INR, gold has support at ₹ 97,120-96,800 while resistance is at ₹ 97,750-97,940. Silver has support at ₹ 100,160-99,350 while resistance is at ₹ 1,01,950-1,02,750, said Kalantri.
Business Mayor
19-05-2025
- Business
- Business Mayor
Gold prices rise by Rs 1,600/10 gms after Moody's downgrades US rating. Here's what analysts predict
Gold June futures on the MCX opened sharply higher, rising by Rs 1,600 or 1.7 per cent to a day's high of Rs 94,031 per 10 grams, driven by safe-haven buying after Moody's downgraded the U.S. long-term issuer and senior unsecured ratings from AAA to AA1. Meanwhile, silver July futures contracts were trading higher at Rs 95,649/kg, rising by Rs 331 or 0.35%. Internationally, gold prices climbed above $3,220 per ounce on Monday, rebounding from last week's steepest decline in six months. The recovery was fueled by renewed safe-haven demand after Moody's downgrade, citing fiscal imbalances and rising debt costs. 'This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,' the credit rating agency said in its report. Despite recent optimism from a temporary US-China tariff truce, weak US economic indicators and subdued inflation have led markets to price in additional interest rate cuts by the Federal Reserve, offering further support to bullion. On Friday, gold and silver settled on a weak note in the domestic as well as the international markets. Gold June futures contract settled at Rs 92,441 per 10 grams with a loss of 0.78 per cent and silver July futures contract settled at Rs 95,318 per kilogram with a loss of 0.62%. Gold and silver prices showed very high price volatility last week and showed a heavy sell-off amid the US-China trade deal and strength in the dollar index. Investors booked profit in precious metals and turned towards riskier assets after US-China agreed to reduce trade tariffs on each other for the period of 90 days. Today, the dollar index (DXY) was hovering around the 100.80 mark, falling 0.29 per cent or 0.29. In the last week, Gold prices witnessed their biggest weekly fall since mid-June 2021 and slipped to 5-week lows. Silver prices also slipped to 2-week lows and are facing resistance at higher levels. What analysts predict for gold? 'Gold prices have remained rangebound over the last two sessions due to a lack of positive triggers as the US reached a temporary truce with China and tensions between India and Pakistan have also eased. However, Moody's decision to lower the US credit profile by one notch could dampen sentiments for the time being around risky assets, including stocks, which could provide a fillip to safe-haven assets like gold again, as buying may emerge from lower levels, and spill over to MCX Gold as well,' said Aksha Kamboj, Vice President of India Bullion and Jewellers Association (IBJA) and Executive Chairperson at Aspect Global Ventures. He added that this, coupled with domestic buying ahead of the upcoming wedding season in India will ensure that the downside is capped and prices remain at elevated levels. Further, Manoj Kumar Jain of Prithvifinmart Commodity said that he expects gold and silver prices to remain volatile this week amid volatility in the dollar index and ahead of the Russia-Ukraine peace talks. 'Gold prices could test their next support level of $3,120 per troy ounce and silver prices could also test $31.40 per troy ounce levels,' he said. On MCX, he noted the following ranges for the precious metals: Gold has support at Rs 91,950-91,400 and resistance at Rs 92,850-93,360 Silver has support at Rs 94,650-93,800 and resistance at Rs 96,000-96,650 Jain suggests selling gold on the rise around Rs 93,200 with a stop loss of Rs 94,200 for a target of Rs 91,100. Gold rates in physical markets Standard gold (22 carat) prices in Delhi stand at Rs 57,192/8 grams while pure gold (24 carat) prices stand at Rs 60,976/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,008/8 grams while pure gold (24 carat) prices stand at Rs 60,800/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,688/8 grams while pure gold (24 carat) prices stand at Rs 60,408/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 56,888/8 grams while pure gold (24 carat) prices stand at Rs 60,648/8 grams.
Time of India
19-05-2025
- Business
- Time of India
Gold prices rise by Rs 1,600/10 gms after Moody's downgrades US rating. Here's what analysts predict
Gold June futures on the MCX opened sharply higher, rising by Rs 1,600 or 1.7 per cent to a day's high of Rs 94,031 per 10 grams, driven by safe-haven buying after Moody's downgraded the U.S. long-term issuer and senior unsecured ratings from AAA to AA1. Meanwhile, silver July futures contracts were trading higher at Rs 95,649/kg, rising by Rs 331 or 0.35%. Internationally, gold prices climbed above $3,220 per ounce on Monday, rebounding from last week's steepest decline in six months. The recovery was fueled by renewed safe-haven demand after Moody's downgrade, citing fiscal imbalances and rising debt costs. 'This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,' the credit rating agency said in its report. Despite recent optimism from a temporary US-China tariff truce, weak US economic indicators and subdued inflation have led markets to price in additional interest rate cuts by the Federal Reserve, offering further support to bullion. On Friday, gold and silver settled on a weak note in the domestic as well as the international markets. Gold June futures contract settled at Rs 92,441 per 10 grams with a loss of 0.78 per cent and silver July futures contract settled at Rs 95,318 per kilogram with a loss of 0.62%. Gold and silver prices showed very high price volatility last week and showed a heavy sell-off amid the US-China trade deal and strength in the dollar index. Investors booked profit in precious metals and turned towards riskier assets after US-China agreed to reduce trade tariffs on each other for the period of 90 days. Today, the dollar index (DXY) was hovering around the 100.80 mark, falling 0.29 per cent or 0.29. In the last week, Gold prices witnessed their biggest weekly fall since mid-June 2021 and slipped to 5-week lows. Silver prices also slipped to 2-week lows and are facing resistance at higher levels. What analysts predict for gold? 'Gold prices have remained rangebound over the last two sessions due to a lack of positive triggers as the US reached a temporary truce with China and tensions between India and Pakistan have also eased. However, Moody's decision to lower the US credit profile by one notch could dampen sentiments for the time being around risky assets, including stocks, which could provide a fillip to safe-haven assets like gold again, as buying may emerge from lower levels, and spill over to MCX Gold as well,' said Aksha Kamboj, Vice President of India Bullion and Jewellers Association (IBJA) and Executive Chairperson at Aspect Global Ventures. He added that this, coupled with domestic buying ahead of the upcoming wedding season in India will ensure that the downside is capped and prices remain at elevated levels. Further, Manoj Kumar Jain of Prithvifinmart Commodity said that he expects gold and silver prices to remain volatile this week amid volatility in the dollar index and ahead of the Russia-Ukraine peace talks. 'Gold prices could test their next support level of $3,120 per troy ounce and silver prices could also test $31.40 per troy ounce levels,' he said. On MCX, he noted the following ranges for the precious metals: Gold has support at Rs 91,950-91,400 and resistance at Rs 92,850-93,360Silver has support at Rs 94,650-93,800 and resistance at Rs 96,000-96,650 Jain suggests selling gold on the rise around Rs 93,200 with a stop loss of Rs 94,200 for a target of Rs 91,100. Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 57,192/8 grams while pure gold (24 carat) prices stand at Rs 60,976/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,008/8 grams while pure gold (24 carat) prices stand at Rs 60,800/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,688/8 grams while pure gold (24 carat) prices stand at Rs 60,408/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 56,888/8 grams while pure gold (24 carat) prices stand at Rs 60,648/8 grams.
Time of India
19-05-2025
- Business
- Time of India
Gold prices rise by Rs 1,600/10 gms after Moody's downgrades US rating. Here's what analysts predict
Gold June futures on the MCX opened sharply higher, rising by Rs 1,600 or 1.7% to a day's high of Rs 94,031 per 10 grams, driven by safe-haven buying after Moody's downgraded the U.S. long-term issuer and senior unsecured ratings from AAA to AA1. Meanwhile, silver July futures contracts were trading higher at Rs 95,649/kg, rising by Rs 331 or 0.35%. Internationally, gold prices climbed above $3,220 per ounce on Monday, rebounding from last week's steepest decline in six months. The recovery was fueled by renewed safe-haven demand after Moody's downgrade, citing fiscal imbalances and rising debt costs. 'This one-notch downgrade on our 21-notch rating scale reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns,' the credit rating agency said in its report. Despite recent optimism from a temporary US-China tariff truce, weak US economic indicators and subdued inflation have led markets to price in additional interest rate cuts by the Federal Reserve, offering further support to bullion. Live Events On Friday, gold and silver settled on a weak note in the domestic as well as the international markets. Gold June futures contract settled at Rs 92,441 per 10 grams with a loss of 0.78% and silver July futures contract settled at Rs 95,318 per kilogram with a loss of 0.62%. Gold and silver prices showed very high price volatility last week and showed a heavy sell-off amid the US-China trade deal and strength in the dollar index. Investors booked profit in precious metals and turned towards riskier assets after US-China agreed to reduce trade tariffs on each other for the period of 90 days. Today, the dollar index (DXY) was hovering around the 100.80 mark, falling 0.29% or 0.29. Also read: Gold prices may fall down to Rs 88k/10 gm. Should you accumulate on dips? Here's what analysts say In the last week, Gold prices witnessed their biggest weekly fall since mid-June 2021 and slipped to 5-week lows. Silver prices also slipped to 2-week lows and are facing resistance at higher levels. What analysts predict for gold? 'Gold prices have remained rangebound over the last two sessions due to a lack of positive triggers as the US reached a temporary truce with China and tensions between India and Pakistan have also eased. However, Moody's decision to lower the US credit profile by one notch could dampen sentiments for the time being around risky assets, including stocks, which could provide a fillip to safe-haven assets like gold again, as buying may emerge from lower levels, and spill over to MCX Gold as well,' said Aksha Kamboj, Vice President of India Bullion and Jewellers Association (IBJA) and Executive Chairperson at Aspect Global Ventures. He added that this, coupled with domestic buying ahead of the upcoming wedding season in India will ensure that the downside is capped and prices remain at elevated levels. Further, Manoj Kumar Jain of Prithvifinmart Commodity said that he expects gold and silver prices to remain volatile this week amid volatility in the dollar index and ahead of the Russia-Ukraine peace talks. 'Gold prices could test their next support level of $3,120 per troy ounce and silver prices could also test $31.40 per troy ounce levels,' he said. On MCX, he noted the following ranges for the precious metals: Gold has support at Rs 91,950-91,400 and resistance at Rs 92,850-93,360 Silver has support at Rs 94,650-93,800 and resistance at Rs 96,000-96,650 Jain suggests selling gold on the rise around Rs 93,200 with a stop loss of Rs 94,200 for a target of Rs 91,100. Gold rates in physical markets Gold Price today in Delhi Standard gold (22 carat) prices in Delhi stand at Rs 57,192/8 grams while pure gold (24 carat) prices stand at Rs 60,976/8 grams. Gold Price today in Mumbai Standard gold (22 carat) prices in Mumbai stand at Rs 57,008/8 grams while pure gold (24 carat) prices stand at Rs 60,800/8 grams. Gold Price today in Chennai Standard gold (22 carat) prices in Chennai stand at Rs 56,688/8 grams while pure gold (24 carat) prices stand at Rs 60,408/8 grams. Gold Price today in Hyderabad Standard gold (22 carat) prices in Hyderabad stand at Rs 56,888/8 grams while pure gold (24 carat) prices stand at Rs 60,648/8 grams. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
