Latest news with #SilverBullion
Business Upturn
7 hours ago
- Business
- Business Upturn
Gold prices today on June 3: Check rates in Delhi, Mumbai, Chennai, Kolkata, Bengaluru and Hyderabad
By Aditya Bhagchandani Published on June 3, 2025, 10:09 IST Gold prices surged across major Indian cities on June 3 amid rising global uncertainty. Investors turned to gold and silver as safe haven assets, driven by Donald Trump's tariff standoff with China and the EU, ongoing Russia-Ukraine tensions, and anticipation around the US Federal Reserve's rate decision. On June 2, gold futures for June 5 delivery jumped 1.7% (₹1,630), pushing MCX gold to an intraday high of ₹97,505/10 gm. COMEX gold was also up 1.74% at $3,373. Meanwhile, silver crossed the ₹1 lakh/kg mark. At 7:20 AM on June 3, 24-carat gold was priced at ₹98,010/10 gm and 22-carat gold at ₹89,843/10 gm, as per the Indian Bullion Association. Silver (999 Fine) was trading at ₹1,01,300/kg. Here are the latest city-wise bullion and MCX rates for gold and silver: Mumbai Gold Bullion : ₹97,830/10 gm Silver Bullion : ₹1,01,120/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Delhi Gold Bullion : ₹97,660/10 gm Silver Bullion : ₹1,00,940/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Kolkata Gold Bullion : ₹97,700/10 gm Silver Bullion : ₹1,00,980/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Chennai Gold Bullion : ₹98,110/10 gm Silver Bullion : ₹1,01,410/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Bengaluru Gold Bullion : ₹97,910/10 gm Silver Bullion : ₹1,01,200/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Hyderabad Gold Bullion : ₹97,980/10 gm Silver Bullion : ₹1,01,280/kg MCX Gold : ₹96,781/10 gm MCX Silver: ₹1,00,098/kg Note: Retail prices may vary due to taxes, making charges, and GST. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
3 days ago
- Business
- Time of India
How Singapore became the go-to gold bunker for the ultra-rich
Global uncertainties are rising. The world's wealthy are moving assets to Singapore. Singapore's stability attracts them. It offers political neutrality and secure storage. Demand for secure storage is surging. Silver Bullion's facility is seeing increased orders. Singapore's legal framework and location are key. Investors are diversifying into tangible assets like gold. Singapore's commitment to law makes it trustworthy. Singapore's rise as a gold storage hub stems from its strong legal system, political stability, and strategic location. Investor appeal has grown further due to tax exemptions on investment-grade precious metals. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Strategic advantages fueling Singapore's rise Global trends driving the shift Rising inflation, conflict in the Middle East, fears of financial contagion in regional banking systems — global uncertainties are mounting. And in the face of this turbulence, the world's ultra-wealthy are moving their gold reserves and precious assets to one place: out of a dramatic split from Malaysia in 1965, Singapore has long put stability and business at the core of its nation-building strategy. With no natural resources to rely on, the city-state bet on finance, logistics, and the rule of law. That bet is paying as trust in traditional Western financial centers is shaken by rising regulation and uncertainties, Singapore's blend of political neutrality, low taxes, and ultra-secure storage facilities is helping it quietly become the go-to vault for global demand for secure storage in Singapore has surged amid global economic uncertainties and geopolitical tensions. Wealthy individuals are more into physical assets like gold to safeguard their wealth. For instance, Silver Bullion's facility, The Reserve , is designed to hold 500 tonnes of gold and 10,000 tonnes of silver, with an appetite for tangible Gregersen, the founder of the repository, stated that from the beginning of the year until April, there was an 88% increase in orders for storing gold and silver in the vault compared to the same period in 2024, as reported by CNBC . The Reserve, which also sells gold and silver bars, saw sales for precious metals bars skyrocket 200% year on year during that time, data provided by The Reserve ascent as a preferred gold storage hub is attributed to its robust legal framework, political stability, and strategic geographic location. The government's proactive policies, including exempting investment-grade precious metals from the Goods and Services Tax (GST), have further enhanced its appeal to investors seeking safe and efficient wealth preservation city's state-of-the-art storage facilities, such as Le Freeport—often referred to as "Asia's Fort Knox" offer high-security vaults for storing valuable assets. These facilities provide clients with confidentiality and peace of mind, essential factors for individuals and institutions aiming to safeguard their wealth against global market demand for secure storage solutions in Singapore aligns with a broader global trend where investors diversify their portfolios to include tangible assets like gold. Factors such as fluctuating currency values, inflation concerns, and geopolitical tensions have prompted the ultra-rich to seek stable environments for their commitment to upholding the rule of law and its reputation for low corruption levels make it an attractive alternative to traditional wealth havens. The city's commitment to transparency and regulatory compliance ensures it remains a trustworthy location for asset storage.
CNA
23-05-2025
- Business
- CNA
CNA938 Rewind - All that glitters is… silver?
CNA938 Rewind Gold has taken centre stage, outperforming many other major assets. But silver is also quietly carving out its own niche. From January 2023 to December 2024, silver has delivered a price return of 20.3 percent. Increasingly, silver is turning into a compelling asset that can shine in various market conditions. Andrea Heng and Hairianto Diman look at what's propping silver up and whether it will continue to gain traction with Gregor Gregersen, Founder of Silver Bullion.
