Latest news with #Dollar
Economic Times
8 hours ago
- Business
- Economic Times
Gold prices to witness big moves, may hit Rs 1.10 lakh/10g in one year. Is now the time to buy?
Gold is poised for a significant rally over the next 12 months, with prices in India expected to surge to as high as Rs 1,10,000 per 10 grams and $4,000 per ounce in the global market amid the persisting geopolitical uncertainties. ADVERTISEMENT According to a report by Angel One, gold prices should accumulate near the Rs 85,000 level when meaningful dips occur. 'Investors with a long-term perspective... should accumulate on every dip, taking advantage of value average for higher returns,' the report said. Further, from a portfolio strategy standpoint, Angel One recommends maintaining a gold allocation of at least 10%. Analysts at Angel One noted, 'Our advice to investors is to allocate at least 10% of their portfolio allocation towards gold for better diversification.'Echoing a similar sentiment, Joni Teves, Precious Metals Strategist at UBS Investment Bank, also stated that she is bullish on gold and believes that diversification is likely to continue to drive prices higher.'We remain bullish on gold and think diversification should continue to drive prices higher. We don't think positioning is crowded and there is plenty of room for investors to continue building gold allocations,' Teves said. ADVERTISEMENT Lingering worries over US fiscal deficits, globally surging bonds, Dollar weakness and intensifying trade war make a strong case for gold extending its rally further, though it is to be noted that markets are still somewhat sceptical of Trump's threat to the US Dollar Index has weakened 7% this year and is likely to fall further on US exceptionalism being put into question. USDINR volatility will significantly affect domestic gold prices. ADVERTISEMENT 'Gold bulls need to be cautious about the possibility of Trump shifting his stance on EU tariffs and progress in trade deals with other trading partners,' noted Praveen Singh of Mirae Asset Sharekhan.'A decisive breach of the resistance zone of $3365-$3371 may take the yellow metal to $3435 and will bring the all-time high of $3500 in focus,' Singh added while highlighting that he maintains a bullish stance on gold. ADVERTISEMENT After delivering strong gains over the past year and a half, the yellow metal continues to shine as a preferred asset for investors seeking long-term value and portfolio has historically proven to be a reliable wealth creator, especially in times of economic uncertainty, and recommends a strategy of value averaging for accumulation. ADVERTISEMENT Amid global macroeconomic shifts, central bank buying, and steady demand from jewellery and investment sectors, Angel One advises investors to allocate at least 10% of their portfolio to gold for better One, in its report, has also highlighted that gold has already delivered strong returns over the past one and a half years and continues to offer a compelling investment case for long-term one looks at the table below, it clearly states that investment in gold pays good returns. Hence, one should make investments in gold from a long-term the demand front, the report outlines that jewellery has consistently contributed over 50% of total gold demand for more than a decade. Additionally, central banks have emerged as a key source of demand post-COVID, with their interest in gold rising steadily over the past four years.'This trend will likely continue in 2025, boosting the yellow metal prices for the second half of 2025,' analysts at Angel One also emphasised the role of gold as a stable asset in uncertain times. 'Gold as an asset has been a good diversifier in any portfolio for decades,' the report said, adding that both geopolitical tensions and macroeconomic factors have influenced gold the supply side, it was mentioned that global gold supply has been steady at over 4,000 tons annually for the past decade, reinforcing the metal's fundamental strength. Also read: Bulls & bears played tug of war in June over last 10 years. Should you stay put or take a vacation? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
8 hours ago
- Business
- Time of India
Gold prices to witness big moves, may hit Rs 1.10 lakh/10g in one year. Is now the time to buy?
Gold is poised for a significant rally over the next 12 months, with prices in India expected to surge to as high as Rs 1,10,000 per 10 grams and $4,000 per ounce in the global market amid the persisting geopolitical uncertainties. According to a report by Angel One, gold prices should accumulate near the Rs 85,000 level when meaningful dips occur. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Start Here - 2025 Top Trend Local network access control Esseps Learn More Undo 'Investors with a long-term perspective... should accumulate on every dip, taking advantage of value average for higher returns,' the report said. Further, from a portfolio strategy standpoint, Angel One recommends maintaining a gold allocation of at least 10%. Analysts at Angel One noted, 'Our advice to investors is to allocate at least 10% of their portfolio allocation towards gold for better diversification.' Echoing a similar sentiment, Joni Teves, Precious Metals Strategist at UBS Investment Bank, also stated that she is bullish on gold and believes that diversification is likely to continue to drive prices higher. Live Events 'We remain bullish on gold and think diversification should continue to drive prices higher. We don't think positioning is crowded and there is plenty of room for investors to continue building gold allocations,' Teves said. Lingering worries over US fiscal deficits, globally surging bonds, Dollar weakness and intensifying trade war make a strong case for gold extending its rally further, though it is to be noted that markets are still somewhat sceptical of Trump's threat to the EU. The US Dollar Index has weakened 7% this year and is likely to fall further on US exceptionalism being put into question. USDINR volatility will significantly affect domestic gold prices. 'Gold bulls need to be cautious about the possibility of Trump shifting his stance on EU tariffs and progress in trade deals with other trading partners,' noted Praveen Singh of Mirae Asset Sharekhan. 'A decisive breach of the resistance zone of $3365-$3371 may take the yellow metal to $3435 and will bring the all-time high of $3500 in focus,' Singh added while highlighting that he maintains a bullish stance on gold. After delivering strong gains over the past year and a half, the yellow metal continues to shine as a preferred asset for investors seeking long-term value and portfolio stability. Gold has historically proven to be a reliable wealth creator, especially in times of economic uncertainty, and recommends a strategy of value averaging for accumulation. Amid global macroeconomic shifts, central bank buying, and steady demand from jewellery and investment sectors, Angel One advises investors to allocate at least 10% of their portfolio to gold for better diversification. Angel One, in its report, has also highlighted that gold has already delivered strong returns over the past one and a half years and continues to offer a compelling investment case for long-term investors. If one looks at the table below, it clearly states that investment in gold pays good returns. Hence, one should make investments in gold from a long-term perspective. On the demand front, the report outlines that jewellery has consistently contributed over 50% of total gold demand for more than a decade. Additionally, central banks have emerged as a key source of demand post-COVID, with their interest in gold rising steadily over the past four years. 'This trend will likely continue in 2025, boosting the yellow metal prices for the second half of 2025,' analysts at Angel One said. It also emphasised the role of gold as a stable asset in uncertain times. 'Gold as an asset has been a good diversifier in any portfolio for decades,' the report said, adding that both geopolitical tensions and macroeconomic factors have influenced gold demand. On the supply side, it was mentioned that global gold supply has been steady at over 4,000 tons annually for the past decade, reinforcing the metal's fundamental strength. Also read: Bulls & bears played tug of war in June over last 10 years. Should you stay put or take a vacation? ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
United News of India
2 days ago
- Business
- United News of India
Proposed 50 pc hike in US steel, aluminum import tariffs to be significant bearing on India's steel exports: FIEO Prez
Hyderabad, May 31 (UNI) Federation of Indian Export Organisations (FIEO) on Saturday expressed concern over the recent announcement by the US President to double import tariffs on steel and aluminium from 25 to 50 percent, citing potential disruption to India's steel and aluminium exports, particularly in value-added and finished steel products and auto components. While reacting over the development, FIEO President S C Ralhan stated in a statement that the proposed increase in US steel and aluminum import tariffs will have a significant bearing on India's steel exports, especially in semi-finished and finished categories like stainless steel pipes, structural steel components and automotive steel parts. These products are part of India's growing engineering exports, and higher duties could erode our price competitiveness in the American market. India exported around US 6.2 billion Dollar worth of steel and finished steel products to the US in FY2024-25 including a widerange of engineered and fabricated steel components and about USD 0.86 billion of aluminum and its products. The US is among the top destinations for Indian steel manufacturers, who have been gradually increasing marketshare through high-quality production and competitive pricing. The FIEO President said, "while we understand that the decision stems from domestic policy considerations in the US, such sharp increases in tariffs send discouraging signals to global trade and manufacturing supply chains. "We urge the government to take up the issue at the bilateral level to ensure that Indian exporters are not unfairly disadvantaged more so far the shipments, as 25 percent additional duty will be a huge burden, which is difficult to be absorbed by the exporter / importer," he said. The FIEO Chief also emphasized the need for Indian exporters to diversify their markets and invest in higher-grade value-added products to mitigate the impact of such protectionist measures. UNI KNR SS
The Print
4 days ago
- Business
- The Print
Rupee settles 2 paise higher at 85.38 against US dollar
The rupee's outlook remains favorable due to improved economic conditions and foreign fund inflows, they said. Forex traders said rupee opened on a weak note on weak domestic markets and elevated crude oil prices. However, it recovered from lower levels as the US Dollar index softened in the latter half of the session. Mumbai, May 28 (PTI) The rupee consolidated in a narrow range and settled for the day higher by just 2 paise at 85.38 against the American currency in a volatile trade on Wednesday, amid a negative trend in domestic equities and elevated crude oil prices. At the interbank foreign exchange, the domestic unit opened at 85.59 and moved between an intraday high of 85.33 and a low of 85.72 against the greenback. The local unit ended the session at 85.38 against the dollar, higher by 2 paise from its previous close. On Tuesday, the rupee closed 30 paise lower at 85.40 against the greenback. 'The Indian rupee traded on a flat note on Wednesday. Rupee opened on a weak note on weak domestic markets and elevated crude oil prices. However, it recovered from the lower levels as the US Dollar index softened in the latter half of the session,' said Anuj Choudhary – Research Analyst at Mirae Asset Sharekhan. Choudhary further noted that 'Month-end Dollar demand from importers may weigh on the rupee. However, the weak tone in the greenback may support the Rupee. USDINR spot price is expected to trade in a range of 85.10 to 85.70.' Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.16 per cent at 99.68. Brent crude, the global oil benchmark, rose 1.39 per cent to USD 64.98 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex fell 239.31 points, or 0.29 per cent, to close at 81,312.32, while the Nifty declined 73.75 points, or 0.30 per cent, to 24,752.45. Foreign institutional investors (FIIs) purchased equities worth Rs 4,662.92 crore on a net basis on Wednesday, according to exchange data. On the domestic macroeconomic front, India's industrial production growth slowed to 2.7 per cent in April 2025 due to poor performance of manufacturing, mining and power sectors, according to official data released on Wednesday. PTI HVA DRR This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Reuters
26-05-2025
- Business
- Reuters
Rupee set to extend rally, riding momentum in Asia FX
MUMBAI, May 26 (Reuters) - The Indian rupee is poised to kick off the week on a positive note, extending Friday's rally, buoyed by a strength in Asian currencies which included the Chinese yuan's surge to a seven-month high. The 1-month non-deliverable forward indicated that the rupee will open in the 84.98-85.02 range per U.S. dollar on Monday, from its Friday close of 85.2125. The currency had surged 0.92% on Friday, its best single-day performance in over two years. Friday marked an unexpected turnaround in the rupee's performance. Until then, the Indian currency had largely missed out on the rally enjoyed by its Asian peers. "Difficult to pinpoint what exactly changed on Friday. In hindsight, it may have been the lack of dollar payments that had been plaguing the rupee, the relentless up move in Asia and finally the collective wisdom that a short (on dollar/rupee) offers value, " a currency trader at a Mumbai-based bank said. However, despite Friday's rally, the rupee remains an underperformer among Asian FX this month. While the rupee is down 0.8% in May, the Korean won, Thai baht, and Indonesian rupiah have climbed between 2.5% and 5.5%. Meanwhile, the offshore Chinese yuan has strengthened 1.5% to 7.1650 against the dollar. The dollar weakened against its major peers and Asian currencies on Monday, with the dollar index (=USD) slipping 0.3% to 98.76 — not far from its year-to-date low. Expectations of FX revaluation have supported Asian currencies, while U.S. fiscal concerns continue to weigh on the dollar. Meanwhile, U.S. President Donald Trump on Sunday backed off his threat to speed up 50% tariffs on imports from the European Union, agreeing to extend his deadline for trade talks until July 9. The rapid de-escalation — just two days after the initial threat — underscores the unpredictability and volatility of U.S. trade policy. KEY INDICATORS: ** One-month non-deliverable rupee forward at 85.14; onshore one-month forward premium at 13.5 paisa ** Dollar index down at 98.72 ** Brent crude futures up 0.1% at $64.8 per barrel ** Ten-year U.S. note yield at 4.51% ** As per NSDL data, foreign investors sold a net $634.6 million worth of Indian shares on May 22 ** NSDL data shows foreign investors sold a net $53.4 million worth of Indian bonds on May 22
