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Gold Prices On See-Saw Ride, ICICI Predicts More Swings This Year

OutlookIndia

OutlookIndia · 3m ago

Gold Prices On See-Saw Ride, ICICI Predicts More Swings This Year

Gold prices have been volatile, fluctuating between high retail prices and significant drops. ICICI Bank forecasts continued instability, predicting gold prices to range between $3,050 and $3,250 per ounce in the second quarter of 2025. Despite a 25% price increase earlier this year, recent declines have been noted due to easing trade concerns. The World Gold Council reported a 170% surge in investment demand amid policy uncertainties, though recent market stabilization has eased pressures on gold's rally.

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Will Sensex Hit 100K by 2026? Morgan Stanley Weighs In

OutlookIndia

OutlookIndia · 3m ago

Will Sensex Hit 100K by 2026? Morgan Stanley Weighs In

Morgan Stanley predicts that the BSE Sensex could reach 89,000 by June 2026, with an 8% upside from its current level. This forecast is based on expected strong domestic growth and modest U.S. expansion without a recession. They see a 30% chance of Sensex hitting 100,000 by 2026, contingent on oil prices below $65, GST rate cuts, and easing global trade tensions. Indian stocks have remained resilient despite recent geopolitical events.

Corporate revenue likely to inch up in FY25 after slow March quarter: Crisil

Livemint

Livemint · 1y ago

Corporate revenue likely to inch up in FY25 after slow March quarter: Crisil

Indian companies are expected to see a rebound in the new financial year after experiencing their slowest quarterly revenue growth since the pandemic. Research firm Crisil predicts a 9-10% increase in overall revenue in the 2024-25 period, driven by domestic consumption. The fiscal year 2024 saw an 8% increase in corporate revenue, with growth moderating to 4-6% in the final quarter. Sectors less dependent on commodities and focused on the domestic market are expected to drive revenue growth in the coming year, particularly consumer discretionary segments.

Central banks set to boost gold holdings amid economic and geopolitical uncertainty: World Gold Council

Economic Times

Economic Times · 2m ago

Central banks set to boost gold holdings amid economic and geopolitical uncertainty: World Gold Council

Central banks plan to boost gold reserves amid geopolitical and economic uncertainties, according to the World Gold Council's survey. A record 95% of reserve managers expect increased gold holdings in the next year. Emerging markets show greater intent to expand their reserves compared to advanced economies. Gold remains valued for its stability, portfolio diversification, and crisis performance despite high prices. Additionally, more banks are storing gold domestically, with a shift toward reduced US dollar reserves in favor of other currencies and gold.

Safe-haven gold hits record high on global uncertainties

Money Control

Money Control · 10m ago

Safe-haven gold hits record high on global uncertainties

Gold prices have reached a record high due to global uncertainties, including conflicts in the Middle East and the upcoming US election. Despite the US dollar also being strong, gold is considered a safe-haven asset and has attracted buying flows as investors seek security. This year, gold has gained over 33% and continues to scale new records amid loose monetary policies. In addition to gold, silver and platinum prices have been affected, while the Federal Reserve's rate cuts are expected to continue but at a slower pace.

Gold prices were 0.48% higher at 71698.00 on September 11, 2024: MCX data

Money Control

Money Control · 11m ago

Gold prices were 0.48% higher at 71698.00 on September 11, 2024: MCX data

On September 11, 2024, gold prices in India closed at Rs 71,698.00 with a 0.48% increase from the previous day. Despite the rise, prices are still below the previous high of Rs 73,932.00 in May. Gold futures closed at Rs 71,927.00 per 10 grams. Prices varied across cities, with Delhi, Mumbai, Chennai, and Bengaluru experiencing slight increases. Gold demand decreased by 6% in Q2 2024, primarily driven by a decline in jewelry consumption, while technology use of gold increased. Geopolitical uncertainties and the US elections may also impact gold prices.

SoftBank swings to $7.7B profit in September quarter

YourStory

YourStory · 9m ago

SoftBank swings to $7.7B profit in September quarter

SoftBank Group reported a profit of 1.2 trillion yen ($7.98 billion) in the second quarter of FY25, driven by successful IPOs of its portfolio companies. The company made investment gains of 608 billion yen ($3.96 million), marking its fourth consecutive profitable quarter. SoftBank's Vision Funds sold investments worth $1.85 billion, with notable exits from companies like SenseTime and Paytm. SoftBank-backed companies like FirstCry, Ola Electric, and Unicommerce had strong market debuts but saw their stock prices fall afterwards. SoftBank is also exploring AI investments, including a potential $500 million investment in OpenAI.

Jewellery firms cut making charges, offer lighter pieces to boost sales

Livemint

Livemint · 10m ago

Jewellery firms cut making charges, offer lighter pieces to boost sales

Jewellery makers in India are struggling to lure customers back to stores due to high gold prices. With gold prices reaching an all-time high, there are concerns that purchases during the festive season will be dampened. To counteract this, jewellery makers are offering lower making charges and focusing on lightweight pieces. Companies like Titan and Kalyan Jewellers are also increasing their gold buyback schemes and expanding their range of budget-friendly jewellery options. However, competition in the organised jewellery market is growing, putting pressure on gold rates and making charges.

Gold returns 25% so far this year; should you buy more or just hold?

Money Control

Money Control · 1y ago

Gold returns 25% so far this year; should you buy more or just hold?

The price of gold has increased by 41% in the past year, reaching Rs 49,240 for 10 grams in the spot market. Rising gold prices have attracted investor attention, especially during uncertain times when other assets decline. The uncertainty surrounding the COVID-19 pandemic, global economic slowdown, geopolitical risks, and increased liquidity in the global economy have all contributed to the rise in gold prices. Investors globally, including in India, are investing in gold, with record-high holdings in gold-backed exchange-traded funds (ETFs). However, experts advise caution and moderation in expectations, using gold as a hedge rather than solely for returns.

Headline inflation to average 3.5 pc this fiscal: Crisil

Economic Times

Economic Times · 16d ago

Headline inflation to average 3.5 pc this fiscal: Crisil

Ratings firm Crisil predicts headline inflation to average 3.5% this fiscal year, down from 4.6% last year, mainly due to healthy agricultural production keeping food inflation in check. Crude oil prices are expected to remain subdued, helping control non-food inflation. Retail inflation has significantly decreased, enhancing household purchasing power and opening possibilities for monetary policy easing. Additionally, a further repo rate cut is anticipated this fiscal year, aiding economic growth.

IOCL, BPCL, HPCL could see record profits on falling crude prices, Investec hikes target price

Money Control

Money Control · 11m ago

IOCL, BPCL, HPCL could see record profits on falling crude prices, Investec hikes target price

A decline in crude prices is beneficial for oil marketing companies (OMCs) as it reduces their input costs, allowing them to generate higher margins. As crude prices hit lows, foreign brokerage Investec predicts that OMCs could see record profits due to high marketing margins. However, potential government intervention to lower fuel prices ahead of the Maharashtra state election may impact these profits. The fall in crude prices also negatively affects oil drilling stocks like ONGC and Oil India as it squeezes their profit margins. Brent crude prices fell to their lowest levels in almost nine months due to concerns of a demand slowdown in China.

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