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Economic Times
13-05-2025
- Business
- Economic Times
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 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 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 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.'
Time of India
13-05-2025
- Business
- Time of India
Gold rises 1.3% as global tensions push investors towards safer haven
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 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 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 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 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.'
New Indian Express
22-04-2025
- Business
- New Indian Express
Gold set to hit Rs 1 lakh/10 gm-mark
With the international gold prices crossing the $3,400/ounce-mark on Monday, the domestic prices are set to cross the psychological mark of Rs 1,00,000/10 grams on Tuesday as dollar continued to face headwinds — down to a three-year low today against the key other currencies--and the new escalation in the tariff war. In Delhi the metal jumped to Rs 99,800 on Monday. The safe haven metal was trading at $3,482/ounce (an ounce is 28.35 grams) at 1.03 am NY time on Tuesday on the Chicago Mercantile Exchange, which is 5% higher than the previous close. According to the All-India Sarafa Association, the yellow metal of 99.9% purity reached Rs 99,800/10 grams on Monday on weak dollar and uncertainties over US-China trade war driving demand. Gold of 99.5% purity hit a fresh peak of Rs 99,300/10 grams in the local market. So far this year, the yellow metal prices have risen Rs 20,850, or 26.41% since December 31. The metal had rallied 22% in 2024. And this came at a time when the metal was roaring—gold rose 15% in 2023, 22% in 2024 and a whopping 26.5% so far in 2025! Renisha Chainani of Augmont Gold, told TNIE that she expects the next resistance level for gold at $3,500/ounce. From a monthly comparison, the metal was fetching a low $1,725/ounce in April 2021, which rose to $1920 in April 2022, further rose to $2000 in April 2023, $2,350 in April 2024 and a whopping $3,368 in April (16) 2025, which almost 90% rally in just five years. Meanwhile, silver prices also appreciated Rs 500 to Rs 98,500/kg. The white metal had traded flat at Rs 98,000 on Friday. "This year, gold and silver prices have experienced significant movements due to ongoing trade tensions, rate cut expectations, geopolitical uncertainties and a weakening dollar. So far, gold has soared over 26%, including a 6% gain since April 2 tariff announcement by the US," said Satish Dondapati, a fund manager at Kotak Mahindra AMC. On the Multi-Commodity Exchange, gold futures for June delivery jumped Rs 1,621, or 1.7%, to touch a fresh high of Rs 96,875. "There has been an increased buying activity among ETF investors, while upcoming festive demand in India is seen fuelling additional support," said Pranav Mer, vice-president, commodity & currency research at JM Financial Services. The dollar fell to a three-year low and safe-haven buying intensified following US president Donald Trump issued a fresh threat to fire Federal Reserve chairman Jerome Powell. 'White House economic adviser Kevin Hassett said on Friday that Trump and his team are still looking into whether they can remove Powell,' according to international media reports, sending the dollar index to a three-year low of under 98.
