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The Print
3 days ago
- Business
- The Print
Silver price hit record of Rs 1.04 lakh/kg; gold climbs Rs 430/10 gm
HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the 'price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand, inflation hedging, and tight global supply'. Continuing the winning run for the fourth straight session, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets. New Delhi, Jun 5 (PTI) Silver prices hit a lifetime high of Rs 1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs 430 in line with strong global cues, according to the All India Sarafa Association. On March 19, silver hit its previous all-time high of Rs 1,03,500 per kg. Gold of 99.9 per cent purity appreciated Rs 430 to Rs 99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs 400 to Rs 99,100 per 10 grams (inclusive of all taxes) on Thursday. The most traded July contract for silver futures rallied by Rs 3,833, or 3.78 per cent, to hit an all-time high of Rs 1,05,213 per kg on the Multi Commodity Exchange. Additionally, gold futures for August contracts climbed Rs 635 to Rs 99,214 per 10 grams. 'Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above USD 3,395 per ounce, while MCX gold gained to trade above Rs 98,450,' Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi added. Meanwhile, spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per ounce. Also, spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets. 'Spot silver has surpassed the previous resistance level of USD 35 per ounce and is trading above that mark, reaching a 12-year high,' Gandhi said. According to Abans Financial Services' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy direction. In addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said. PTI HG TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hans India
3 days ago
- Business
- Hans India
Silver climbs Rs 2,000 to lifetime high; Gold up Rs 430
New Delhi: Silver prices hit a lifetime high of Rs1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs430 in line with strong global cues, according to the All India Sarafa Association. Continuing the winning run for the fourth straight session, the white metal bounced Rs2,000 to hit a fresh peak of Rs1,04,100 per kilogram (inclusive of all taxes) in the local markets. HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the 'price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand, inflation hedging, and tight global supply'. On March 19, silver hit its previous all-time high of Rs1,03,500 per kg. Gold of 99.9 per cent purity appreciated Rs430 to Rs99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs400 to Rs99,100 per 10 grams (inclusive of all taxes) on Thursday. The most traded July contract for silver futures rallied by Rs3,833, or 3.78 per cent, to hit an all-time high of Rs1,05,213 per kg on the Multi Commodity Exchange. Additionally, gold futures for August contracts climbed Rs635 to Rs99,214 per 10 grams. Meanwhile, spot gold in the international markets rose $21.58 per ounce, or 0.64 per cent, to $3,393.93 per ounce. 'Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above $3,395 per ounce, while MCX gold gained to trade above Rs98,450,' Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi added. Also, spot silver went up nearly 4 per cent to trade at $35.80 per ounce in the overseas markets. 'Spot silver has surpassed the previous resistance level of $35 per ounce and is trading above that mark, reaching a 12-year high,' Gandhi said. According to Abans Financial Services' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy direction. In addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said
Economic Times
3 days ago
- Business
- Economic Times
Silver price hits record of Rs 1.04 lakh/kg; gold climbs Rs 430/10 gm
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Silver prices hit a lifetime high of Rs 1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs 430 in line with strong global cues, according to the All India Sarafa the winning run for the fourth straight session, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the "price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand inflation hedging, and tight global supply".On March 19, silver hit its previous all-time high of Rs 1,03,500 per of 99.9 per cent purity appreciated Rs 430 to Rs 99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs 400 to Rs 99,100 per 10 grams (inclusive of all taxes) on most traded July contract for silver futures rallied by Rs 3,833, or 3.78 per cent, to hit an all-time high of Rs 1,05,213 per kg on the Multi Commodity gold futures for August contracts climbed Rs 635 to Rs 99,214 per 10 grams."Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above USD 3,395 per ounce, while MCX gold gained to trade above Rs 98,450," Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets."Spot silver has surpassed the previous resistance level of USD 35 per ounce and is trading above that mark, reaching a 12-year high," Gandhi to Abans Financial Services ' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said.
Time of India
3 days ago
- Business
- Time of India
Silver price hits record of Rs 1.04 lakh/kg; gold climbs Rs 430/10 gm
Silver prices hit a lifetime high of Rs 1,04,100 per kilogram in the national capital on Thursday, and gold prices jumped Rs 430 in line with strong global cues, according to the All India Sarafa Association. Continuing the winning run for the fourth straight session, the white metal bounced Rs 2,000 to hit a fresh peak of Rs 1,04,100 per kilogram (inclusive of all taxes) in the local markets . HDFC Securities' Senior Analyst of Commodities Saumil Gandhi said the "price of silver reached a new all-time high in the domestic market. The rally is supported by strong fundamentals, higher industrial demand , inflation hedging, and tight global supply". On March 19, silver hit its previous all-time high of Rs 1,03,500 per kg. Gold of 99.9 per cent purity appreciated Rs 430 to Rs 99,690 per 10 grams (inclusive of all taxes). The precious metal of 99.5 per cent purity increased Rs 400 to Rs 99,100 per 10 grams (inclusive of all taxes) on Thursday. Live Events The most traded July contract for silver futures rallied by Rs 3,833, or 3.78 per cent, to hit an all-time high of Rs 1,05,213 per kg on the Multi Commodity Exchange. Additionally, gold futures for August contracts climbed Rs 635 to Rs 99,214 per 10 grams. "Gold prices traded higher, supported by a weaker dollar and renewed safe-haven demand amid lingering tariff uncertainty and US debt concerns. Globally, gold scaled above USD 3,395 per ounce, while MCX gold gained to trade above Rs 98,450," Jateen Trivedi, VP Research Analyst, Commodity and Currency at LKP Securities, said. The broader sentiment in the bullion space remains positive, driven by geopolitical tensions and ongoing imbalance in global trade and financial dynamics, Trivedi added. Meanwhile, spot gold in the international markets rose USD 21.58 per ounce, or 0.64 per cent, to USD 3,393.93 per ounce. Also, spot silver went up nearly 4 per cent to trade at USD 35.80 per ounce in the overseas markets. "Spot silver has surpassed the previous resistance level of USD 35 per ounce and is trading above that mark, reaching a 12-year high," Gandhi said. According to Abans Financial Services ' Chief Executive Officer Chintan Mehta, investors are focused on Friday's US non-farm payroll report for further clues on the Federal Reserve's monetary policy direction. In addition, any new geopolitical developments could add another layer of uncertainty, once again driving investors toward the safe haven of gold, Mehta said.
Reuters
28-03-2025
- Business
- Reuters
India stocks close fiscal 2025 higher as March gains bail out benchmarks
March 28 (Reuters) - A rally in India's Nifty 50 stock index (.NSEI), opens new tab in March, its best jump in 15 months, helped the benchmark pull back from losses after a historic five-month losing streak and finish this financial year with gains. The index of 50 bluechip stocks rose 6.3% in March, contributing to 5.34% gains for the fiscal year that runs from April to March, while the BSE Sensex (.BSESN), opens new tab advanced 5.1%. The benchmarks were in the red as recently as March 4. The rally was driven by investors scooping up beaten-down stocks, the return of foreign inflows after a selling spree that began in late-September and improving economic indicators. Although foreign investors poured $2.65 billion into Indian stocks in the last five sessions, it wasn't enough to offset foreign outflows of $15.57 billion for the fiscal year, the second-highest ever. HDFC Securities' CEO Dhiraj Relli cited lacklustre earnings, U.S. tariff worries, foreign outflows, geopolitical tensions, a strong dollar, and Chinese stimulus as key events that fuelled volatility in the market. After rising about 16% in the first-half of the fiscal, the Nifty 50 erased those gains in the next five months. Foreign investors pulled out money from India and rushed to China, following a string of stimulus announcements and artificial intelligence -related developments. While shares in China, Hong Kong and Singapore rose, those in export- and tech-heavy countries like Japan and South Korea fell in fiscal 2025 due to tariff worries. Back home, while the correction has eased valuation concerns and signs of an economic recovery have emerged, tariff threats continue to loom. Although the Nifty is still down 10.5% from its record highs in late September, market participants believe the worst is over for Indian equities. "The fiscal year 2026 looks lot more promising than FY2025 as we are seeing reasonable valuations," said Chandraprakash Padiyar, senior fund manager at Tata Asset Management, adding that the risk-reward has turned favourable for banks, oil and gas and real estate after the correction. HDFC Securities' Relli expects Nifty earnings to grow between 12% and 15% in the next two fiscals and has forecast market returns in line with earnings growth.
