Latest news with #RajendraJadhav
Yahoo
6 days ago
- Business
- Yahoo
Gold demand in key Asian hubs improves amid price correction
By Rajendra Jadhav and Anmol Choubey (Reuters) -Physical gold demand in key Asian markets improved slightly this week as a pullback in prices sparked buying interest, though volatility kept some buyers cautious. Spot gold hit its lowest level in a month on Wednesday and was headed for third consecutive weekly loss. [GOL/] Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation "This week, footfall was better than last week. Buyers were inquiring about price trends and making small purchases," said a Pune-based jeweller. Domestic gold prices were trading around 97,700 rupees per 10 grams on Friday after rising to 100,555 rupees last week. Discounts offered by Indian dealers narrowed to as much as $7 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, compared to up to $15 last week. Jewellers were keen to make purchases to replenish inventory after a correction in overseas prices, but a significant drop in the rupee offset the impact of the price fall to an extent, said a Mumbai-based bullion dealer with a private bank. India's gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, the World Gold Council said on Thursday. In China, dealers quoted gold in a wide range, between a discount of $4.2 and a premium of $12 per ounce above international rates. "China appears to slightly buy the dip in gold... trading volume for the physical proxy contract AU9999 on the Shanghai Gold Exchange has been on the rise (11 tons traded yesterday), reflecting a renewed interest in the metal," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong gold was sold at par to a $1.50 premium, while Singapore prices ranged from par to a $1.40 premium. In Japan, bullion was sold at par to a premium of $0.60. "There was lots of demand to buy if the price dropped even slightly. Regardless of the Japan-U.S. trade deal, gold is being purchased as an asset class amid low interest rates," a Japan-based trader said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-08-2025
- Business
- Yahoo
Gold demand in key Asian hubs improves amid price correction
By Rajendra Jadhav and Anmol Choubey (Reuters) -Physical gold demand in key Asian markets improved slightly this week as a pullback in prices sparked buying interest, though volatility kept some buyers cautious. Spot gold hit its lowest level in a month on Wednesday and was headed for third consecutive weekly loss. [GOL/] "This week, footfall was better than last week. Buyers were inquiring about price trends and making small purchases," said a Pune-based jeweller. Domestic gold prices were trading around 97,700 rupees per 10 grams on Friday after rising to 100,555 rupees last week. Discounts offered by Indian dealers narrowed to as much as $7 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, compared to up to $15 last week. Jewellers were keen to make purchases to replenish inventory after a correction in overseas prices, but a significant drop in the rupee offset the impact of the price fall to an extent, said a Mumbai-based bullion dealer with a private bank. India's gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, the World Gold Council said on Thursday. In China, dealers quoted gold in a wide range, between a discount of $4.2 and a premium of $12 per ounce above international rates. "China appears to slightly buy the dip in gold... trading volume for the physical proxy contract AU9999 on the Shanghai Gold Exchange has been on the rise (11 tons traded yesterday), reflecting a renewed interest in the metal," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong gold was sold at par to a $1.50 premium, while Singapore prices ranged from par to a $1.40 premium. In Japan, bullion was sold at par to a premium of $0.60. "There was lots of demand to buy if the price dropped even slightly. Regardless of the Japan-U.S. trade deal, gold is being purchased as an asset class amid low interest rates," a Japan-based trader said. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Hindustan Times
21-07-2025
- Business
- Hindustan Times
Indian farmers accelerate summer crop sowing amid strong monsoon
By Rajendra Jadhav Indian farmers accelerate summer crop sowing amid strong monsoon MUMBAI, - Indian farmers have accelerated the planting of summer-sown crops such as paddy, soybeans, cotton and corn, following above-average monsoon rainfall in July which increased the moisture levels required for sowing, according to government data. The monsoon is the lifeblood of India's nearly $4 trillion economy, delivering almost 70% of the rainfall needed to water farms and replenish aquifers and reservoirs. Nearly half of India's farmland is not irrigated and depends on the annual June-September rains for crop growth. The country has so far received 6% more rainfall than normal since the start of monsoon season on June 1, which helped farmers to plant summer crops on 70.83 million hectares by July 18, up 4.1% from the last year, according to the Ministry of Agriculture and Farmers' Welfare. Farmers have planted 17.67 million hectares with rice paddy, up 12.4% on the same period last year, as a hike in support prices prompted farmers to expand the area. India is the world's biggest exporter of rice and the top importer of edible oils such as palm oil and soyoil. Farmers planted soybean on 11.17 million hectares, down from last year's 11.9 million hectares but having accelerated in the last week. Corn was planted on 7.1 million hectares, up from 6.17 million a year earlier. The cotton area was 3.4% lower at 9.86 million hectares, having also seen an increase in the past few days, while pulses planting rose by 2.3% from a year ago to 8.2 million hectares. The farm ministry keeps updating the provisional sowing figures as it gathers more information from the state governments. Farmers are inclined to expand the area under paddy as the government buys large quantities at state-fixed support prices, which is not the case for other crops, said a Mumbai-based dealer with a global trading firm. "So far, the weather's been pretty good for crops, except in a few parts of north-eastern India. If the monsoon stays strong next month, we could be looking at a bumper harvest across the country," he said. This article was generated from an automated news agency feed without modifications to text.
Mint
18-07-2025
- Business
- Mint
Discounts widen in India as elevated prices dull activity
India dealers widen discount to $10/oz this week China premiums slip on lower demand India's June gold imports fall to two-year low By Rajendra Jadhav and Brijesh Patel Gold demand in India remained subdued this week, as near record-high prices kept buyers at bay and prompted dealers to widen discounts to lure them, while elevated rates curtailed activity across other major Asian hubs as well. Indian dealers were offering a discount up to $10 an ounce over official domestic prices - inclusive of 6% import and 3% sales levies - up from the last week's discount of up to $8. "Jewellery stores all over the country are seeing fewer customers. People aren't ready to buy just yet... They're holding off, hoping prices will come down," said a Kolkata-based jeweller. Domestic gold prices were trading around 97,500 rupees per 10 grams on Friday after hitting an all-time peak of 101,078 rupees last month. Gold discounts could have risen sharply due to weak demand, but supplies are limited because of a sharp fall in imports, said a Mumbai-based bullion dealer with a private bank. India's gold imports in June fell 40% from a year ago to 21 tons, their lowest level in more than two years, amid sluggish demand. In China, the world's top gold consumer, dealers quoted discounts of $5 per ounce to $10 premium on spot rates, down from the premiums of $10-$25 charged last week. "In China, I don't see too much physical buying interest at this moment due to the summer holiday. Maybe from October, you can expect the demand to pick up," said Peter Fung, head of dealing at Wing Fung Precious Metals. In Hong Kong, gold was sold at $1-$2 premiums, while dealers in Singapore sold gold at par with the global benchmark to a premium of up to $2.20. In Japan, bullion traded between a $0.50 discount and a $1 premium. (Reporting by Brijesh Patel and Anushree Mukherjee in Bengaluru, Rajendra Jadhav in Mumbai; Editing by Eileen Soreng)
Mint
18-07-2025
- Business
- Mint
ASIA RICE-Surplus supply, tepid demand push India rates to over two-year low
(Repeats without changes to text) Thai rates widen on increase in production costs Summer-autumn harvest in Mekong Delta peaking, trader says Bangladesh to import rice ahead of upcoming flood season July 17 (Reuters) - Indian rice prices fell to their lowest level in more than two years on subdued demand and surplus supplies, while Vietnamese rice exports to Africa and the Philippines remained steady. India's 5% broken parboiled variety was quoted at $377-$382 per ton, its lowest since early December 2022, and down from last week's $380-$385. Indian 5% broken white rice was priced at $373 to $378 per ton this week. "Overseas buyers have multiple options, everyone from Thailand, Vietnam, to India wants to sell their excess stocks, so buyers are trying hard to negotiate a lower price," said a New Delhi-based trader with a global trade house. Vietnam's 5% broken rice was offered at $380-$390 per metric ton, traders said. The price was $382 a week ago, according to the Vietnam Food Association. "Demand from the Philippines and Africa remains steady," a trader based in Ho Chi Minh City said. Preliminary shipping data showed 256,583 tons of rice is to be loaded at Ho Chi Minh City port in July, with most of the rice heading to the Philippines and Malaysia. Traders said the summer-autumn harvest in the Mekong Delta, the country's key rice growing area, was peaking. Thailand's 5% broken rice was quoted at $380-$385 per tonne, compared with last week's $380. Traders said prices slightly widened over the week due to an increase in the cost of rice production in the domestic market as international demand remains quiet. A Bangkok-based trader said new supply of rice will likely enter the market at the end of this month and early next month. "Many buyers are waiting for the new crop which could drive the price down," the trader added. Meanwhile, Bangladesh will import 400,000 metric tons of rice to strengthen food security ahead of the flood season, food ministry officials said. (Reporting by Ishaan Arora in Bengaluru, Rajendra Jadhav in Mumbai, Panu Wongcha-um in Bangkok, Ruma Paul in Dhaka, and Khanh Vu in Hanoi; Editing by Sahal Muhammed)
