Latest news with #Kalantri
The Print
16 hours ago
- Business
- The Print
Gold futures bounce Rs 2,011 to breach Rs 1 lakh-mark; hit all time high
Later, it traded at Rs 1,00,145 per 10 grams, up Rs 1,753, or 1.78 per cent, with an open interest of 16,602 lots on the bourse. On the Multi Commodity Exchange (MCX), the most-traded August delivery contracts of the precious metal zoomed Rs 2,011, or 2.04 per cent, to hit a record high of Rs 1,00,403 per 10 grams in the morning trade. New Delhi, Jun 13 (PTI) Gold prices surged for the third consecutive session on Friday, bouncing Rs 2,011 to hit an all-time high of Rs 1,00,403 per 10 grams, as a weakening rupee and escalating tensions in the Middle East drove investors to the safe haven asset. Gold future prices had on April 22 surged Rs 2,048 to hit a fresh record high of Rs 1,00,000 per 10 grams. Subsequently, the October contract of the yellow metal jumped Rs 1,970, or 1.98 per cent, to hit a fresh peak of Rs 1,01,295 per 10 grams on the MCX. Analysts said the sharp rally in gold prices was primarily driven by a weaker rupee and heightened geopolitical tensions in the Middle East, which spurred safe-haven demand for the precious metal. On Friday, rupee declined 56 paise to 86.08 against the US dollar in the initial trade due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel's attack on Iran's nuclear sites. On the global front, gold futures rose USD 41.62 per ounce, or 1.22 per cent, to trade at USD 3,444.02 per ounce. 'Gold prices rallied sharply amid escalating Israel-Iran tensions, boosting safe-haven demand. In the morning session, the precious metal breached the USD 3,420 per ounce-mark and hit 6-week highs,' Rahul Kalantri, Vice-President of Commodities at Mehta Equities, said. Kalantri further said the rally in gold was further supported by the US producer price index (PPI) and core PPI data, which indicated cooling inflation in the US. The data reinforced investor expectations that the US Federal Reserve may begin easing its monetary policy stance in the coming months. PTI HG HG TRB TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Time of India
a day ago
- Business
- Time of India
Crude oil futures hits lifetime high of ₹6,311/ barrel
New Delhi: Crude oil prices on Friday rallied by ₹578 to hit a lifetime high of ₹6,311 per barrel on the Multi Commodity Exchange , tracking a sharp spike in global prices amid escalating tensions in the Middle East. On the Multi Commodity Exchange (MCX), the most traded July delivery contracts of crude oil jumped by ₹578 or 10.08 per cent to hit a fresh peak of ₹6,311 per barrel in the morning trade. Later, it traded at ₹6,156 per barrel, up ₹423 or 7.38 per cent, with an open interest lots of 6,907. Crude Oil futures had on April 1 hit an all-time high of ₹6,116 per barrel on the MCX. Subsequently, the August contracts for crude oil futures appreciated by ₹508 or 9 per cent to hit a lifetime high of ₹6,156 per barrel on the bourse. Analysts said rising geopolitical concerns and fears of supply disruption in key oil-producing regions have fuelled strong buying in crude futures. Globally, West Texas Intermediate crude was trading 6.11 per cent higher at USD 72.20 per barrel. In the session, it rose USD 9.54 per barrel or 14.02 per cent to hit an intraday high of USD 77.58 per barrel. Meanwhile, Brent Crude was trading at USD 74.11 per barrel, up by 6.85 per cent in the overseas markets. It climbed by USD 9.14 per barrel or 13.18 per cent to hit a day high of USD 78.50 per barrel. "Crude oil futures surged over 10 per cent, the highest in two months, as escalating tensions between Israel and Iran sparked fears of severe supply disruptions. "With Israel launching a pre-emptive strike and Iran vowing retaliation -- including potential attacks on US bases -- the threat to the Strait of Hormuz, a key global oil artery, looms large," Rahul Kalantri, Vice-President of Commodities at Mehta Equities, said. "Supporting the price rally, US crude inventories fell more than expected, signalling robust demand. Additionally, weaker US inflation data also reinforced expectations of an interest rate cut by the Federal Reserve in September, potentially lifting future oil demand," Kalantri said. PTI
Economic Times
27-05-2025
- Business
- Economic Times
Gold prices surge by Rs 5,160 from lower levels. Here's what analysts predict
Gold prices rebounded sharply from recent lows, with June futures on MCX opening higher amid global uncertainties and a weaker dollar. Analysts attribute the gains to safe-haven buying triggered by geopolitical tensions and upcoming U.S. economic data. Experts expect gold and silver to remain volatile this week, advising a buy-on-dips strategy within defined support and resistance levels. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Manoj Kumar Jain suggested the following ranges for gold and silver on MCX: Gold has support at Rs 95,400-94,950 and resistance at Rs 96,650-97,200 Silver has support at Rs 97,200-96,650 and resistance at Rs 98,850-95,500 Outlook for gold Gold rates in physical markets Gold Price today in Delhi Tired of too many ads? Remove Ads Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad After a pullback in the prices in the previous trading session, gold June futures contracts at MCX opened slightly higher by Rs 113 or 0.12% at Rs 96,050/10 g. This indicates a Rs 5,160 surge in the prices of gold from their low of Rs 90,890/10 grams, hit on May silver July futures contracts opened flat at Rs 98,045/kg, slightly higher by Rs 42 or 0.04%On Monday, gold and silver settled on a positive note in the domestic market, even as they settled on a mixed note in the international markets. Gold June futures contract settled at Rs 95,937 per 10 grams with a loss of 0.50%, and silver July futures contract settled at Rs 98,003 per kilogram with a loss of 0.05%Gold and silver showed some pullback after last week's solid gain on Monday amid postponement of trade tariff by U.S. President of the European and silver showed mild profit taking in a thinned volume session due to the Memorial Day holiday in the U.S. markets. However, the dollar index extended its fall and slipped below 99 marks, trading at 1-month the US Dollar Index, DXY, was hovering near the 98.86 mark, falling 0.25 or 0.26%.'Weakness in the dollar index, geopolitical tensions, and global uncertainty is supporting safe-haven buying for precious metals,' said Manoj Kumar Jain of Prithvifinmart Commodity Research.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, volatility in the global bond markets and geo-political tensions; gold prices could hold its support level of $3,200 per troy ounce and silver prices could also hold $31.80 per troy ounce levels on a weekly closing basis,' he suggests buying gold and silver on dips and expecting a trading range for gold between Rs 94,800-96,650 and for silver between Rs 96,650-99,500 in today's Kalantri, VP Commodities at Mehta Equities, noted that investor caution remains due to a widening US deficit, geopolitical tensions, and key upcoming US economic data, including the FOMC minutes on Wednesday and PCE inflation on Friday, which could impact the Federal Reserve's rate outlook and gold's gold (22 carat) prices in Delhi stand at Rs 57,424/8 grams while pure gold (24 carat) prices stand at Rs 61,168/8 gold (22 carat) prices in Mumbai stand at Rs 57,280/8 grams while pure gold (24 carat) prices stand at Rs 61,088/8 gold (22 carat) prices in Chennai stand at Rs 56,840/8 grams while pure gold (24 carat) prices stand at Rs 60,568/8 gold (22 carat) prices in Hyderabad stand at Rs 56,800/8 grams while pure gold (24 carat) prices stand at Rs 60,576/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Fashion Value Chain
17-05-2025
- Business
- Fashion Value Chain
Dubai: India's Strategic Gateway to Africa and Europe
Dubai Can Be India's Strategic Gateway to Access African and European Markets Dubai's rise as a global trade and logistics hub is proving pivotal in strengthening India's global outreach. At the recent International Business Roundtable hosted at the World Trade Center Mumbai, industry leaders underscored the immense potential of Dubai as a gateway for Indian exports to Europe and Africa. Dr. Vijay Kalantri, President of the All India Association of Industries (AIAI) and Chairman of WTC Mumbai, stated, 'The UAE is a key strategic partner for India and central to the India-Middle East-Europe Economic Corridor.' With bilateral trade between the two nations touching USD 84.8 billion, the UAE stands as India's third-largest trading partner. Dubai: A Re-export and Investment Hub Dubai's role as a commercial and logistics hub was highlighted as central to India's export strategy. 'It is a vital re-export center for Indian goods like textiles, electronics, gems and jewellery, and food products,' said Dr. Kalantri. The city's business-friendly environment — including simplified tax regimes, 100% foreign ownership in most sectors, and robust free zones — continues to draw Indian investors. India, in turn, has emerged as a significant destination for UAE investment, with a cumulative inflow of USD 23 billion. Sectors like real estate, energy, infrastructure, private equity, and financial services have seen deepening India-UAE collaboration. Aligning Synergies for Growth The roundtable aimed to align cross-border synergies and scale up business momentum. While Dubai's interest in the Indian market is clear, Dr. Kalantri noted that actual investments must gain pace to fully capitalize on the opportunity. He cited Indian participation in Dubai-hosted expos and the growing presence of Dubai-based investors in Indian summits as encouraging signs. 'India is poised to become a USD 5 trillion economy. Dubai can help catalyze this growth by enhancing access to global markets and supporting sectors like clean energy, digital trade, logistics, and innovation,' he added. Dubai Chamber: Accelerating Global Access Representing the Dubai Chamber of Commerce, Mr. Abhijitsinh Jadeja, Chief Representative – India, emphasized Dubai's growing relevance. 'With its diversified economy, world-class infrastructure, and robust logistics, Dubai serves as a perfect launchpad for Indian enterprises aiming for the Middle East, Africa, and Europe.' The India-UAE Comprehensive Economic Partnership Agreement (CEPA) has further boosted trade, unlocking opportunities in textiles, food processing, electronics, and services. 'Dubai's D33 Economic Agenda and its focus on digital transformation, AI, fintech, and clean energy create immense potential for Indian startups and SMEs to scale globally,' Mr. Jadeja noted. The Dubai Chamber's India office actively facilitates bilateral business, offering market intelligence and expansion support to Indian enterprises. Conclusion: A Strategic Leap Forward As India strengthens its global economic footprint, Dubai is emerging not just as a transit point but as a long-term strategic partner. The synergy between India's high-growth potential and Dubai's enabling ecosystem offers a robust foundation for deeper trade ties, innovation-driven collaboration, and mutually beneficial investments.
Mint
12-05-2025
- Business
- Mint
Gold price today: MCX gold rate falls below ₹95,000 per 10 grams on US-China trade deal, India-Pakistan ceasefire
Gold prices on Multi Commodity Exchange of India (MCX) declined on Monday, tracking a fall in international bullion prices, as optimism over US-China trade deal improved investor risk-appetite and dented safe-haven appeal for the yellow metal. MCX gold rate opened lower at ₹ 95,500 per 10 grams as against its previous close of ₹ 96,518. At 9:05 AM, MCX gold price was trading lower by 2,253 ₹ , or 2.33%, at ₹ 94,265 per 10 grams. MCX Silver rate was trading lower by ₹ 578, or 0.60%, at ₹ 96,151 per kg. In the global markets, gold prices slipped as optimistic signals from US-China trade talks alleviated market fears, leading investors to shift from safe-haven assets towards riskier investments. Spot gold price fell 1.4% to $3,277.68 an ounce, while US gold futures lost 1.9% to $3,281.40. The US and China ended high-stakes trade talks on a positive note on Sunday, with US officials touting a 'deal' to reduce the US trade deficit, while Chinese officials said they had reached 'important consensus', Reuters reported. 'Gold prices fell sharply in morning trades across Asian markets amid signs of a progress in trade talks between US and China, along with some relief in geopolitical tensions. The dollar index trading steady above the 100 mark, the US Fed keeping interest rates unchanged and US-China trade negotiation hopes are the factors limiting gains of precious metals,' said Rahul Kalantri, VP Commodities, Mehta Equities Ltd. Meanwhile, traders are also eyeing the release of the US Consumer Price Index on Tuesday for fresh signals on the US Federal Reserve's monetary policy trajectory. According to Rahul Kalantri, gold price has support at $3,255 - 3,235 while resistance is at $3,300 - 3,325. Silver has support at $32.27-31.95 while resistance is at $32.90-33.70. 'In INR terms, gold prices have support at ₹ 95,550 - 94,980 while resistance is at ₹ 96,950 - 97,340. Silver price has support at ₹ 95,880 - 94,550 while resistance is at ₹ 97,550 - 98,250,' said Kalantri. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
