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Time of India
a day ago
- Business
- Time of India
Gold prices seen to face a big crash in just two months
Gold prices may have hit their peak and could decline by 12–15 per cent 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 per cent drop in the next few years. On Tuesday, retail gold prices hovered around Rs 96,960 per 10 gm. With a 3 per cent goods and services tax, the price of 10 gm of gold stood at Rs 99,868. Kavita 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 metal. The rise in gold prices is hurting retailers. Gold jewellery sales in India fell 30 per cent to 1,600 kg on average in the past fortnight, according to the India Bullion & Jewellers Association (IBJA), as prices shot up nearly 5 per cent . '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, IBJA. Gold's 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. US trade tensions influencing gold markets Trade tensions between the United States and China are keeping investors on edge. Market participants are now watching closely for a possible call this week between President Donald Trump and Chinese President Xi Jinping. This comes just days after Trump accused China of violating an agreement to reduce tariffs and trade barriers. In Europe, the European Commission has pushed back, stating it will urge the U.S. to lower or eliminate tariffs. However, the U.S. is still moving ahead with plans to double steel and aluminum tariffs to 50 per cent . According to a draft letter seen by Reuters, Washington is also pressing countries to submit revised trade offers by Wednesday to speed up negotiations before a five-week deadline.
Economic Times
a day ago
- Business
- Economic Times
Jewellery sales dip 30 per cent in India over fortnight as gold prices rise
Gold jewellery sales in India plummeted by 30% recently, averaging 1,600 kg, as prices surged nearly 5%. This fall is attributed to rising gold prices, which dampened consumer demand despite an initial boost following Akshaya Tritiya. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads ( Originally published on Jun 03, 2025 ) 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, 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 99,868.'Mumbai, the nerve centre of the gold jewellery market in the country, has witnessed daily average retail sales of gold jewellery tumbling by 105 kg,' said Jain Kumar Jain, owner of Zaveri Bazaar-based Umedmal Tilakchand Zaveri, said, 'Customers are coming and enquiring about prices and are leaving without purchase. We have seen a 25% drop in demand. Post-Akshaya Tritiya, there was movement in the market, but that has waned.'Kavita 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 in southern India are also facing a demand drop, even though it is the wedding season in Andhra Pradesh and Telangana. Verghese Alukkas, managing director of Joy Alukkas, which has 50 stores across southern India, said, 'We have seen a 15-20% drop in demand in the last fortnight.'Aksha Kamboj, vice president of IBJA, said heightened tensions between Russia and Ukraine, despite ongoing peace negotiations, have further contributed to the muted market sentiment. 'These geopolitical and trade-related uncertainties have overshadowed expectations that the US Federal Reserve may delay interest rate cuts until September. In the near term, gold's safe-haven appeal is likely to strengthen as investors seek stability. Looking ahead, the upcoming non-farm payrolls data on Friday will be a key catalyst for bullion price movements," he said.
Time of India
2 days ago
- Business
- Time of India
Jewellery sales dip 30 per cent in India over fortnight as gold prices rise
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel 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, 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 99,868.'Mumbai, the nerve centre of the gold jewellery market in the country, has witnessed daily average retail sales of gold jewellery tumbling by 105 kg,' said Jain Kumar Jain, owner of Zaveri Bazaar-based Umedmal Tilakchand Zaveri, said, 'Customers are coming and enquiring about prices and are leaving without purchase. We have seen a 25% drop in demand. Post-Akshaya Tritiya, there was movement in the market, but that has waned.'Kavita 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 in southern India are also facing a demand drop, even though it is the wedding season in Andhra Pradesh and Telangana. Verghese Alukkas, managing director of Joy Alukkas, which has 50 stores across southern India, said, 'We have seen a 15-20% drop in demand in the last fortnight.'Aksha Kamboj, vice president of IBJA, said heightened tensions between Russia and Ukraine, despite ongoing peace negotiations, have further contributed to the muted market sentiment. 'These geopolitical and trade-related uncertainties have overshadowed expectations that the US Federal Reserve may delay interest rate cuts until September. In the near term, gold's safe-haven appeal is likely to strengthen as investors seek stability. Looking ahead, the upcoming non-farm payrolls data on Friday will be a key catalyst for bullion price movements," he said.
India.com
26-05-2025
- Business
- India.com
Gold And Silver Prices Continue To Rise, Yellow Metal Nears Rs 96,000 Per 10 Grams
New Delhi: The gold and silver prices continued to rise on Monday amid geopolitical uncertainties. The 24-carat gold worth 10 grams was trading close to Rs 96,000 and the price of silver crossed Rs 97,000 per kilogram. According to the latest bullion prices released by the India Bullion Jewelers Association (IBJA) in the evening, the price of 24-carat gold increased by Rs 342 to Rs 95,813 per 10 grams in the last 24 hours. At the same time, the price of 22-carat gold went up to Rs 87,765 per 10 grams. The price of 18-carat gold increased to Rs 71,860 per 10 grams. The price of silver also increased by Rs 488 to Rs 97,397 per kg. Spot market gold and silver prices are released twice a day by the IBJA. Jatin Trivedi of LKP Securities said, "Gold is expected to trade between Rs 95,000 and Rs 96,500 in the coming sessions. Investors will keep a close eye on key economic data including US manufacturing and service PMI data as well as new home sales data." Meanwhile, gold and silver prices declined internationally. Gold prices fell 1.12 per cent to $3,355.55 an ounce and silver prices fell 0.26 per cent to $33.523 an ounce. The reason for the decline in international gold and silver prices is believed to be the extension of the deadline by US President Donald Trump to July 9 for negotiations on a trade deal with the European Union (EU). Since January 1, the price of 10 grams of 24-carat gold has risen from Rs 76,162 to Rs 95,813 by Rs 19,651 or 25.80 per cent. Silver prices have also risen from Rs 86,017 per kg to Rs 97,397 by Rs 11,383 or 13.23 per cent. In the week ahead, the geo-political tensions will continue to lead safe haven buying for investors across the globe, and the rally in the yellow metal can extend towards $3,500/ounce in the international markets while MCX gold prices might move higher towards Rs 99,000/10 grams mark. The shine in the yellow metal will be brighter in the coming weeks, said Prathamesh Mallya from Angel One.
Time of India
22-05-2025
- Business
- Time of India
Silver price breaches Rs 1 lakh per kg mark again in physical market
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Silver prices in the physical market crossed the Rs 1 lakh per kilogram mark once again on Thursday as the retail price of 999-grade silver stood at Rs 98,492 per kg, according to data by the India Bullion and Jewellers Association (IBJA).After including the 3% Goods and Services Tax (GST), the effective price stands at Rs 1,01346.76 per kg, breaching the critical psychological level for the second time this sharp move comes amid growing optimism about silver's potential to catch up with gold in the current precious metals bull cycle. Analysts point to a rare structural mismatch between supply and demand as a key Bardia, CIO and Founder at Valtrust, noted in a recent article, '2025 will mark the fifth consecutive year of silver deficit,' highlighting that industrial demand is rising, while mining and recycling supplies remain relatively stagnant.'This deficit isn't a temporary aberration – it's become structural,' he added, explaining that the shortfall is creating a bottleneck that appears increasingly unsustainable. Since 2021, silver has experienced annual deficits ranging from 79 million ounces to an estimated 250 million ounces projected for the current also underscored the growing role of silver in green technologies, particularly solar panels, electric vehicles, and electronics, which are now contributing significantly to overall consumption.'This industrial component provides an additional catalyst beyond monetary demand,' he said, noting that technological adoption, especially in emerging economies, is steadily pushing up the demand read: Big prediction from Rich Dad Poor Dad author Robert Kiyosaki: Gold will go to $25,000 Adding fuel to the narrative, renowned financial author Robert Kiyosaki — known for his book Rich Dad Poor Dad — issued a bold forecast on social media platform X earlier this week. He wrote, 'Good news. Gold will go to $25,000. Silver to $70. Bitcoin to $500k to $1 million.'His aggressive stance on silver reinforces the sentiment that the white metal, often overshadowed by gold, may be primed for a silver market's tightness and long-term underperformance relative to gold have also brought the gold-to-silver ratio under scrutiny. Historically, a mean of 68:1 is considered equilibrium, but recent levels around 100:1 suggest silver may be if gold prices hold steady and the ratio reverts to its historical average, Bardia estimates that silver could rise to around Rs 165 per gram, implying upside of nearly 70% from current he cautioned against excessive enthusiasm. 'Silver is notoriously volatile,' Bardia warned, advocating for a tactical approach with a portfolio allocation of no more than 5%, clear profit targets, and strict both structural fundamentals and speculative interest aligning, silver appears to be regaining the attention it once commanded.
