Latest news with #SatishDondapati
News18
27-04-2025
- Business
- News18
Gold Near Rs 1 Lakh: Should You Invest Or Wait? Experts Share Insights
Gold prices dropped after a recent high due to profit-taking and Trump's softer stance on China tariffs. Experts suggest maintaining gold for portfolio stability. Gold Investment: Gold prices have experienced a notable drop after reaching a record high recently. This decline is largely attributed to profit-taking and the softer stance on China tariffs by President Trump. Still, experts suggest that investing in gold now, despite the recent surge, can be a wise strategy for diversifying portfolios and safeguarding against economic uncertainties. However, it is crucial for investors to evaluate their financial goals, risk tolerance, and investment horizon before proceeding. Strategic Investment In Gold Satish Dondapati, a Fund Manager at Kotak Mahindra AMC, recommends that investors maintain 10-15% of their investment in gold at any given time. This allocation can help reduce overall portfolio risk, protect against inflation, and provide stability during economic uncertainties. Risks Of Investing At High Prices Parag Shah, CEO of Kisna Diamond and Gold Jewellery, acknowledges that while gold prices are elevated, the metal retains significant cultural, emotional, and financial value. This is especially true during occasions like Akshaya Tritiya, when buying gold is considered auspicious. For individuals with clear goals, such as future use, gifting, or wealth preservation, this remains an opportune time to invest. Those who have built a gold portfolio over the years might also find this a fitting moment to rebalance their assets, aligning with their financial goals and avoiding further liabilities. A market correction could be impending, as international syndicates are aware of India's deep emotional connection with gold. After the recent sharp rally, a correction might be triggered by profit booking from large institutions, Shah noted. Although the long-term outlook for gold remains positive, such a correction would likely be a healthy pullback, presenting a buying opportunity rather than indicating weakness. The market is currently hedging against risks, with a noticeable disconnect between genuine consumer demand and price movement. First Published:
New Indian Express
22-04-2025
- Business
- New Indian Express
Gold set to hit Rs 1 lakh/10 gm-mark
With the international gold prices crossing the $3,400/ounce-mark on Monday, the domestic prices are set to cross the psychological mark of Rs 1,00,000/10 grams on Tuesday as dollar continued to face headwinds — down to a three-year low today against the key other currencies--and the new escalation in the tariff war. In Delhi the metal jumped to Rs 99,800 on Monday. The safe haven metal was trading at $3,482/ounce (an ounce is 28.35 grams) at 1.03 am NY time on Tuesday on the Chicago Mercantile Exchange, which is 5% higher than the previous close. According to the All-India Sarafa Association, the yellow metal of 99.9% purity reached Rs 99,800/10 grams on Monday on weak dollar and uncertainties over US-China trade war driving demand. Gold of 99.5% purity hit a fresh peak of Rs 99,300/10 grams in the local market. So far this year, the yellow metal prices have risen Rs 20,850, or 26.41% since December 31. The metal had rallied 22% in 2024. And this came at a time when the metal was roaring—gold rose 15% in 2023, 22% in 2024 and a whopping 26.5% so far in 2025! Renisha Chainani of Augmont Gold, told TNIE that she expects the next resistance level for gold at $3,500/ounce. From a monthly comparison, the metal was fetching a low $1,725/ounce in April 2021, which rose to $1920 in April 2022, further rose to $2000 in April 2023, $2,350 in April 2024 and a whopping $3,368 in April (16) 2025, which almost 90% rally in just five years. Meanwhile, silver prices also appreciated Rs 500 to Rs 98,500/kg. The white metal had traded flat at Rs 98,000 on Friday. "This year, gold and silver prices have experienced significant movements due to ongoing trade tensions, rate cut expectations, geopolitical uncertainties and a weakening dollar. So far, gold has soared over 26%, including a 6% gain since April 2 tariff announcement by the US," said Satish Dondapati, a fund manager at Kotak Mahindra AMC. On the Multi-Commodity Exchange, gold futures for June delivery jumped Rs 1,621, or 1.7%, to touch a fresh high of Rs 96,875. "There has been an increased buying activity among ETF investors, while upcoming festive demand in India is seen fuelling additional support," said Pranav Mer, vice-president, commodity & currency research at JM Financial Services. The dollar fell to a three-year low and safe-haven buying intensified following US president Donald Trump issued a fresh threat to fire Federal Reserve chairman Jerome Powell. 'White House economic adviser Kevin Hassett said on Friday that Trump and his team are still looking into whether they can remove Powell,' according to international media reports, sending the dollar index to a three-year low of under 98.
Hans India
22-04-2025
- Business
- Hans India
Gold nears Rs 1 lakh-mark on weak dollar & tariff war woes
New Delhi: Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 per 10 grams on Friday. Gold of 99.5 per cent purity bounced Rs 1,600 to hit a fresh peak of Rs 99,300 per 10 grams in the local markets. It had fallen marginally to settle at Rs 97,700 per 10 grams in the previous market close. In the Hyderabad market, the 24-carat gold was priced at Rs 99,660 per 10 grams on Monday. So far this year, the yellow metal prices have risen Rs 20,850, or 26.41 per cent, per 10 grams since December 31, last year. Silver prices also appreciated Rs 500 to Rs 98,500 per kg. The white metal had traded flat at Rs 98,000 per kg on Friday. "This year, gold and silver prices have experienced significant movements due to ongoing trade tensions, rate cut expectations, geopolitical uncertainties and weakening dollar. So far, gold has soared over 25 per cent, including a 6 per cent gain since April 2 tariff announcement by the US administration," Satish Dondapati, Fund Manager at Kotak Mahindra AMC, said. On the Multi Commodity Exchange, gold futures for June delivery jumped Rs 1,621, or 1.7 per cent, to touch a fresh high of Rs 96,875 per 10 grams. In the international markets, spot gold rose to hit a fresh peak of $3,397.18 per ounce. Later, it pared some gains to trade at $3,393.49 per ounce. Globally, gold futures breached the psychological $3,400-mark for the first time ever, rising $80 per ounce, or 2.4 per cent. "Gold prices continued their positive momentum and have risen briefly above $3,400 per ounce, as trade tariff related uncertainty, weakness in the US dollar and rising Treasury yields continue to keep the bullion supported. "There has been increased buying activity among ETF investors, while upcoming festive demand in India is seen fulling additional support," Pranav Mer, Vice President, EBG of Commodity & Currency Research at JM Financial Services, said.
The Hindu
21-04-2025
- Business
- The Hindu
Gold nears ₹1 lakh-mark in Delhi on weak dollar, U.S.-China tariff war woes
Gold prices inched closer to the psychological mark of ₹1 lakh per 10 grams as the bullion rates surged ₹1,650 in the national capital on Monday on weak dollar and uncertainties over U.S.-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9% purity reached ₹99,800 per 10 grams on Monday. Its value had declined ₹20 to close at ₹98,150 per 10 grams on Friday. Gold of 99.5% purity bounced ₹1,600 to hit a fresh peak of ₹99,300 per 10 grams in the local markets. It had fallen marginally to settle at ₹97,700 per 10 grams in the previous market close. So far this year, the yellow metal prices have risen ₹20,850, or 26.41%, per 10 grams since December 31, last year. Silver prices also appreciated ₹500 to ₹98,500 per kg. The white metal had traded flat at ₹98,000 per kg on Friday. "This year, gold and silver prices have experienced significant movements due to ongoing trade tensions, rate cut expectations, geopolitical uncertainties and weakening dollar. So far, gold has soared over 25%, including a 6% gain since April 2 tariff announcement by the U.S. administration," Satish Dondapati, Fund Manager at Kotak Mahindra AMC, said. On the Multi Commodity Exchange, gold futures for June delivery jumped ₹1,621, or 1.7%, to touch a fresh high of ₹96,875 per 10 grams. In the international markets, spot gold rose to hit a fresh peak of $3,397.18 per ounce. Later, it pared some gains to trade at $3,393.49 per ounce. Globally, gold futures breached the psychological $3,400-mark for the first time ever, rising $80 per ounce, or 2.4%. "Gold prices continued their positive momentum and have risen briefly above $3,400 per ounce, as trade tariff related uncertainty, weakness in the US dollar and rising Treasury yields continue to keep the bullion supported. "There has been increased buying activity among ETF investors, while upcoming festive demand in India is seen fulling additional support," Pranav Mer, Vice President, EBG of Commodity & Currency Research at JM Financial Services, said. Kaynat Chainwala, AVP of Commodity Research, Kotak Securities said gold prices continued its rally as the US dollar fell to a new three-year low and safe-haven buying intensified following U.S. President Donald Trump's threat to fire Federal Reserve Chair Jerome Powell. Spot silver in the Asian market hours rose nearly 1% to $32.85 per ounce. According to Abans Financial Services' Chief Executive Officer Chintan Mehta, market participants will closely watch President Trump's evolving tariff strategy and its broader economic impact, alongside commentary from Federal Open Market Committee (FOMC) members for clues on interest rate direction. Any signals of further easing or prolonged uncertainty could reinforce gold's appeal and keep safe-haven demand elevated, Mehta said.
News18
21-04-2025
- Business
- News18
Gold Nears Rs 1 Lakh-Mark In Delhi On Weak Dollar, US-China Tariff War Woes
Agency: PTI According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 per 10 grams on Friday. Gold prices inched closer to the psychological mark of Rs 1 lakh per 10 grams as the bullion rates surged Rs 1,650 in the national capital on Monday on weak dollar and uncertainties over US-China trade war driving demand. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity reached Rs 99,800 per 10 grams on Monday. Its value had declined Rs 20 to close at Rs 98,150 per 10 grams on Friday. Gold of 99.5 per cent purity bounced Rs 1,600 to hit a fresh peak of Rs 99,300 per 10 grams in the local markets. It had fallen marginally to settle at Rs 97,700 per 10 grams in the previous market close. So far this year, the yellow metal prices have risen Rs 20,850, or 26.41 per cent, per 10 grams since December 31, last year. Silver prices also appreciated Rs 500 to Rs 98,500 per kg. The white metal had traded flat at Rs 98,000 per kg on Friday. 'This year, gold and silver prices have experienced significant movements due to ongoing trade tensions, rate cut expectations, geopolitical uncertainties and weakening dollar. So far, gold has soared over 25 per cent, including a 6 per cent gain since April 2 tariff announcement by the US administration," Satish Dondapati, Fund Manager at Kotak Mahindra AMC, said. On the Multi Commodity Exchange, gold futures for June delivery jumped Rs 1,621, or 1.7 per cent, to touch a fresh high of Rs 96,875 per 10 grams. In the international markets, spot gold rose to hit a fresh peak of $3,397.18 per ounce. Later, it pared some gains to trade at $3,393.49 per ounce. Globally, gold futures breached the psychological $3,400-mark for the first time ever, rising $80 per ounce, or 2.4 per cent. 'Gold prices continued their positive momentum and have risen briefly above $3,400 per ounce, as trade tariff related uncertainty, weakness in the US dollar and rising Treasury yields continue to keep the bullion supported. 'There has been increased buying activity among ETF investors, while upcoming festive demand in India is seen fulling additional support," Pranav Mer, vice-president, EBG of commodity & currency research at JM Financial Services, said. Kaynat Chainwala, AVP of commodity research, Kotak Securities said gold prices continued its rally as the US dollar fell to a new three-year low and safe-haven buying intensified following US President Donald Trump's threat to fire Federal Reserve Chair Jerome Powell. Spot silver in the Asian market hours rose nearly 1 per cent to USD 32.85 per ounce. According to Abans Financial Services' Chief Executive Officer Chintan Mehta, market participants will closely watch President Trump's evolving tariff strategy and its broader economic impact, alongside commentary from Federal Open Market Committee (FOMC) members for clues on interest rate direction. Any signals of further easing or prolonged uncertainty could reinforce gold's appeal and keep safe-haven demand elevated, Mehta said.
