Akshaya Tritiya 2024: Analysts advise caution on gold buying
Given the skyrocketing gold prices, analysts recommend investors to accumulate yellow metal in smaller denominations this festive season.
Given the skyrocketing gold prices, analysts recommend investors to accumulate yellow metal in smaller denominations this festive season.
In the metals market, Gold has surged to a new all-time peak, Copper futures experienced substantial gain, and HRC Steel prices have declined 22.69% since the beginning of 2024.
Central banks shore up gold reserves to prepare for turbulent times, pushing up prices across the globe. The trend is here to stay.
Analysts expect the gold prices to further touch ₹67,450-$67,900.
It is perplexing that gold ETFs are losing sheen even when physical gold prices are skyrocketing.
Jefferies has downgraded IIFL Finance to ‘Hold’ from ‘Buy’, while cutting its target price to ₹435 from ₹765 estimated earlier.
The GJEPC has urged govt to cut import duty on gold, silver, and platinum bars to 4%; reduction in import duty on cut and polished diamonds to 2.5%.
Jewellery demand fell 6% to 562.3 tonnes from 600.6 tonnes a year ago, investment demand increased by 7% from 173.6 tonnes in 2022 to 185.2 tonnes in 2023
Whether it’s for festivities or as an investment option, Indians bank on gold to build financial security and as a hedge against inflation
Rise in income levels and economic uncertainties to aid consumption of yellow metal.