Latest news with #Chacko
Time of India
18 hours ago
- Business
- Time of India
Gold prices seen to face a big crash in just two months
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel Gold prices may have hit their peak and could decline by 12–15% in dollar terms over the next two months, according to Quant Mutual Fund. '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,' it added. A US-based Morningstar analyst has already forecasted a 38% drop in the next few Tuesday, retail gold prices hovered around Rs 96,960 per 10 gm. With a 3% goods and services tax, the price of 10 gm of gold stood at Rs 99, Chacko, research head of India at World Gold Council, said stability in prices could prompt a resurgence in demand in the world's second-largest consumer of the yellow rise in gold prices is hurting retailers. Gold jewellery sales in India fell 30% to 1,600 kg on average in the past fortnight, according to the India Bullion & Jewellers Association (IBJA), as prices shot up nearly 5%.'In the first fortnight of May, which was followed by Akshaya Tritiya, there was some momentum as prices started falling, touching Rs 92,365 per 10 gm on May 15. But since then, the price of the yellow metal has again started to move northwards, which has dampened the demand,' said Surendra Mehta, national secretary, recent rally was fueled by economic uncertainty, inflation concerns, and geopolitical tensions. Investors turned to gold as a safe asset, particularly amid ongoing trade disputes initiated during former US President Donald Trump's tenure. However, multiple factors could now drive prices downward.
Economic Times
12-05-2025
- Business
- Economic Times
Why people prefer exchanging their old gold, instead of buying new jewellery
Soaring gold prices are increasingly prompting Indian women to rethink traditional buying habits. Many are exchanging old jewelry, opting for smaller purchases, or exploring gold savings plans to manage costs. While these plans offer a structured approach, experts caution about risks associated with jeweler trustworthiness and urge customers to also explore other digital alternatives to buying gold. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Even as it is heartening for women to see their favourite shiny asset reward their faith, it is also making some rethink old ways. Gold prices at the retail level no longer offer the affordability to purchase high-value, finest-quality jewellery or coins. A 24-carat gold coin of 8 grams, which cost around Rs.55,000 on Akshaya Tritiya two years ago, is retailing at over Rs.83,000 now. Jewellery is even more expensive, with making charges adding 25-30% to the cost price. Women are no longer comfortable buying at this ticket size, prompting a shift in Chacko, Research Head, India, World Gold Council, observes, 'There has been a shift in consumer behaviour in response to soaring prices, with more buyers opting to trade in old jewellery for new. Anecdotal reports suggest that 40-45% of purchases now involve some form of exchange.'Many women are waiting for prices to dip, even letting auspicious days like Akshay Tritiya go by without buying gold . 'Unlike earlier, women are not necessarily stepping out to buy gold on the auspicious day if prices are elevated,' observes Joshi. Others are more comfortable buying gold of a lower ticket size, even if it is of lesser caratage. Kothari notes, 'The current gold buying sentiment is more cautious. Many women are opting for smaller, alternative purchases, more light-weight jewellery.'Some are turning to gold savings plans of jewellers to build towards a target outlay for purchasing gold. These schemes usually allow customers to deposit a fixed sum of money every month for a predetermined period, usually 11 months. At the end of the tenure, the customer can use the accumulated savings, plus any bonus offered by the jeweller, to purchase jewellery from the brand. For example, if you save Rs.5,000 monthly, you'll have accumulated Rs.55,000 after 11 jeweller adds another Rs.5,000 as the last instalment, giving you Rs.60,000 to spend in their store. Mathur has opted for a gold savings scheme with her trusted jeweller. 'Gold prices today do not allow the purchase of huge sets. With a gold savings scheme, I pay smaller amounts over time, and at the end I get a lump sum, add any differential, and buy the jewellery of my choice,' she Joshi flags risks in opting for such plans. 'Your money is at risk if the jeweller is not trustworthy,' he warns. Also, your money gets locked with the jeweller. Some jewellers have previously vanished with customers' savings or simply shut down. Besides, the bonus offered by the jeweller is just an illusion, as most jewellers mark up their making charges. Further, you are not protected from rising gold prices in these schemes, as your savings are in cash, not in suggests a systematic investment plan (SIP) in a gold mutual fund as a better alternative. Every rupee you contribute is linked to actual gold prices. You can exit at any time and are assured of getting your money back.
Time of India
12-05-2025
- Business
- Time of India
Why people prefer exchanging their old gold, instead of buying new jewellery
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Even as it is heartening for women to see their favourite shiny asset reward their faith, it is also making some rethink old ways. Gold prices at the retail level no longer offer the affordability to purchase high-value, finest-quality jewellery or coins. A 24-carat gold coin of 8 grams, which cost around Rs.55,000 on Akshaya Tritiya two years ago, is retailing at over Rs.83,000 now. Jewellery is even more expensive, with making charges adding 25-30% to the cost price. Women are no longer comfortable buying at this ticket size, prompting a shift in Chacko, Research Head, India, World Gold Council, observes, 'There has been a shift in consumer behaviour in response to soaring prices, with more buyers opting to trade in old jewellery for new. Anecdotal reports suggest that 40-45% of purchases now involve some form of exchange.'Many women are waiting for prices to dip, even letting auspicious days like Akshay Tritiya go by without buying gold . 'Unlike earlier, women are not necessarily stepping out to buy gold on the auspicious day if prices are elevated,' observes Joshi. Others are more comfortable buying gold of a lower ticket size, even if it is of lesser caratage. Kothari notes, 'The current gold buying sentiment is more cautious. Many women are opting for smaller, alternative purchases, more light-weight jewellery.'Some are turning to gold savings plans of jewellers to build towards a target outlay for purchasing gold. These schemes usually allow customers to deposit a fixed sum of money every month for a predetermined period, usually 11 months. At the end of the tenure, the customer can use the accumulated savings, plus any bonus offered by the jeweller, to purchase jewellery from the brand. For example, if you save Rs.5,000 monthly, you'll have accumulated Rs.55,000 after 11 jeweller adds another Rs.5,000 as the last instalment, giving you Rs.60,000 to spend in their store. Mathur has opted for a gold savings scheme with her trusted jeweller. 'Gold prices today do not allow the purchase of huge sets. With a gold savings scheme, I pay smaller amounts over time, and at the end I get a lump sum, add any differential, and buy the jewellery of my choice,' she Joshi flags risks in opting for such plans. 'Your money is at risk if the jeweller is not trustworthy,' he warns. Also, your money gets locked with the jeweller. Some jewellers have previously vanished with customers' savings or simply shut down. Besides, the bonus offered by the jeweller is just an illusion, as most jewellers mark up their making charges. Further, you are not protected from rising gold prices in these schemes, as your savings are in cash, not in suggests a systematic investment plan (SIP) in a gold mutual fund as a better alternative. Every rupee you contribute is linked to actual gold prices. You can exit at any time and are assured of getting your money back.
Time of India
28-04-2025
- Entertainment
- Time of India
After quizzing, excise sleuths take Shine Tom for drug rehab
Kottayam: Actor Shine Tom Chacko , who was summoned for interrogation at the excise commissioner's office in Alappuzha, was later taken to a de-addiction centre in Thodupuzha on Monday. The excise department took such a step after Chacko and his parents sought treatment for drug de-addiction. Besides Chacko, actor Sreenath Bhasi and Kochi-based model Soumya too were summoned. A special team from excise department questioned the actors and the model over their links with Tasleema Sultana, 41, who was arrested in connection with the seizure of 3kg hybrid ganja worth Rs 2 crore. Excise sleuths subjected the three to detailed interrogation separately based on a prepared questionnaire to determine the nature of their links with Sultana. The interrogation was led by excise deputy commissioner Vinod Kumar and assistant commissioner S Ashok Kumar. After an eight-hour-long interrogation, the sleuths concluded that the three don't have any direct links with Sultana regarding the drug deals. Kumar said there was no clear evidence yet linking the actors to Sultana. However, he didn't rule out summoning the actors and the model for interrogation again. Earlier in the day, all three arrived well in advance for the interrogation. Though the interrogation was to start at 10am, Chacko arrived around 7.30am and Bhasi by 8.10am. Soumya arrived by 8.30am. Chacko told the excise sleuths that he was coming from a de-addiction centre in Bengaluru and needed to go back at the earliest. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Moose Approaches Girl At Bus Stop In Krasnoyarskiy Kray - Watch What Happens Happy in Shape Undo They were shifted to three different rooms after a primary interrogation. Soumya was asked about her frequent financial dealings with Sultana. She is learned to have told the sleuths that the financial dealings were in connection with 'real meet' and had no connection with drug deals. She said she was totally unaware of Sultana's drug dealings. However, she conceded that she was acquainted with Sultana for a long time and it was only friendship. Meanwhile, the sleuths are verifying whether the financial dealings under the code name 'real meet' were commissions paid to Sultana in connection with sex trade. Later, Soumya told the media that she was not from the film industry and was acquainted with Chacko and Bhasi through Instagram.
Indian Express
28-04-2025
- Entertainment
- Indian Express
Actors Shine Tom Chacko, Sreenath Bhasi questioned by excise officials in drug seizure probe
Malayalam actors Shine Tom Chacko and Sreenath Bhasi appeared before excise officials in Alappuzha on Monday, as part of an ongoing investigation into the seizure of hybrid ganja worth approximately Rs 2 crore earlier this month. The drugs were discovered in the possession of a woman, who allegedly told the excise authorities that she had consumed drugs alongside both Chacko and Bhasi. Based on her statement, the excise department issued notices to the actors, prompting their appearance for questioning. ARTICLE CONTINUES BELOW VIDEO The investigation is part of a larger crackdown on drug-related activities, with excise officials examining the involvement of the actors in this particular case. Meanwhile, Shine Tom Chacko, who has previously faced allegations of drug use and misconduct, continues to be under scrutiny. On April 22, the Film Employees Federation of Kerala (FEFKA) issued a final warning to the actor, urging him to refrain from any further drug use or disruptive behaviour on film sets. FEFKA's general secretary, B Unnikrishnan, held a press briefing where he confirmed that Chacko had admitted to using drugs. 'FEFKA informed family members of Shine that he required professional assistance to overcome the problem of drug use. We will not cooperate with him if he violates the assurance not to create any more problems,' Unnikrishnan said during the press conference. Shine Tom Chacko's troubles continued last week when he was involved in an incident during a narcotics raid at a hotel in Kochi. The actor reportedly fled the scene, but he was later apprehended by Kochi police on April 19 after a lengthy interrogation. He was arrested but secured bail shortly afterwards. The ongoing investigation has raised more questions about Chacko's involvement in the drug-related case. Commissioner of Police Putta Vimaladitya informed ANI that the investigation is still ongoing. 'Investigation with regard to a case registered against actor Shine Tom Chacko is going on. We have taken some samples to be forwarded to the FSL and based on the results, we will conduct further investigation. There are certain other circumstances which we are investigating as well… He is cooperating with the investigation and as of now, we will not be able to actually take it further or make any conclusive remarks unless we have some more information… He has given an explanation and we are verifying if it is true,' the police official said. Earlier, Shine Tom Chacko appeared at the Ernakulam North Police Station in response to a notice issued by the police, requesting an explanation for his attempt to flee the hotel during the narcotics raid. Shine's lawyers accompanied him during this appearance.
