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The meet in Budapest is a World Athletics Continental Tour gold level event, the highest in the class.

Gulveer Singh Smashes Own Mark at Hungarian Grand Prix

The meet in Budapest is a World Athletics Continental Tour gold level event, the highest in the class.

&nbsp;India's Gulveer Singh bettered his own national record in non-Olympic event of men's 3000m race while finishing fifth at the Gyulai Istvan Memorial - Hungarian Athletics Grand Prix in Budapest.
He clocked 7 minute 34.49 seconds on Tuesday night to eclipse his own previous national record time of 7.38.26 set at the Boston University David Hemery Valentine Invitational meet in February this year.
The 27-year-old Singh was competing in his first track race in Europe.
The meet in Budapest is a World Athletics Continental Tour gold level event, the highest in the class.
Kipsang Mathew Kipchumba of Kenya won the race with a time of 7:33.23, while Eduardo Herrera (7:33.58) of Mexico, Oscar Chelimo (7:33.93) of Uganda and Valentin Soca (7:34.28) of Uruguay were second, third and fourth respectively. Singh also owns national records in men's 5000m (12:59.77) and 10,000m (27:00.22), a stupendous achievement for an Indian.
He is also the reigning Asian champion in both the 5000m and 10,000m races, having won gold medals in the continental championships in May.
He has already qualified for the men's 5000m race in the World Athletics Championships to be held in Tokyo from September 13 to 21.

Haryana's Kanak clinched India's first gold at the ISSF Junior World Cup in Germany. At 17, she triumphed in the women's 10m air pistol final, defeating Olympian Anna Dulce. This win highlighted Kanak's skill and composure among seasoned competitors.

Kanak Wins Gold at ISSF Junior World Cup

Seventeen-year-old Kanak, from Haryana, secured India's first gold at the ISSF Junior World Cup, Germany, in the women's 10m air pistol event, defeating Olympic contender Anna Dulce. Her stellar performance showcases India's rising talent in shooting sports.

Haryana's Kanak, 17, won India's first gold in women's 10m air pistol at ISSF Junior World Cup, Germany, defeating Olympic champion Anna Dulce with a score of 239.0.

Budding Haryana shooter Kanak opened India's gold-medal account at the ISSF Junior World Cup in Germany, clinching the yellow metal in the women's 10m air pistol on Wednesday.
The 17-year-old, a junior World Championship silver medalist in Lima last year, scored 239.0 in the 24-shot eight-women final to upstage Anna Dulce of Moldova, a two-time Olympian and reigning European champion, by 1.7 points.
Chinese Taipei's Chen Yen-Ching won the bronze medal in the event taking place in Suhl.
Earlier, two Indian shooters qualified for the final, with Prachi securing a spot behind Kanak in fifth place as they shot scores of 571 and 572 respectively.
Kanak then showed her experience at this level, bringing out the big 10s when it mattered most towards the closing stages of the final to win with ease.
"I was a little bit nervous in the beginning, but I am happy that I was able to close out well," she said after the match.
In fact, it was Prachi who remained in the top three from the start of the final and looked in contention for a medal. Prachi shot a poor 8.6 while Kanak took the lead with a soaring 10.5.
As Prachi faded away, Kanak then shot three high 10s, a slim 10.1 and three high 9s (9.7, 9.8, 9.9) in her next nine shots to pull away from the field.
She closed the contest with a 9.4, which will not please her coaches, but by then the gold was in her bag.
On Friday, India's Adriyan Karmakar had won the silver medal in the 50m rifle prone event.

BJP MLA Yatnal finds himself embroiled in controversy following crude remarks about actor Ranya Rao’s gold smuggling case. He hints at revealing ministerial connections, despite official denials.

MLA Yatnal's Controversial Gold Smuggling Remarks

BJP MLA Yatnal is in the spotlight for remarks on Kannada actor Ranya Rao's gold smuggling case. He hints at revealing alleged involvement of ministers, sparking political debate in Karnataka.

BJP MLA Yatnal sparks controversy over gold smuggling remark

BJP MLA Basangouda Patil Yatnal, known for provocative remarks, causes a stir with comments on actor Ranya Rao's involvement in gold smuggling. He plans to expose alleged ministerial links despite official denials.

BJP MLA Basangouda Patil Yatnal, known for his provocative statements, has embroiled himself in another controversy with coarse remarks about Ranya Rao, a Kannada actor recently implicated in a gold smuggling investigation.
The MLA from Bijapur City commented on the incident involving the actor, who was apprehended with 14 kg of gold concealed in her clothing at Bengaluru airport, arriving from Dubai. Initial investigations indicate potential involvement from airport staff.
In a video making rounds online, Mr. Yatnal is seen addressing reporters, insisting that all parties found culpable should face consequences. He questioned if an individual could be shielded due to their status as a central government employee, alluding to the senior IPS officer, Ramachandra Rao, who is the actor&rsquo;s stepfather.
Mr. Rao, having denied any connection to the smuggling incident, was placed on "compulsory leave" following his stepdaughter's arrest.
Referring to alleged negligence by customs officials, Mr. Yatnal asserted the need for necessary disciplinary measures.
He crudely remarked on the manner in which the gold was supposedly concealed by Ms. Rao: &ldquo;She had gold all over her body, hiding it wherever she had holes, and smuggled it in,&rdquo; he stated in Kannada.
He further mentioned his intent to disclose the involvement of various ministers during the upcoming assembly session. &ldquo;I have gathered complete information about her relationships, who assisted her in obtaining security clearance, and the means of smuggling the gold.
I will reveal everything in the session, including the ministers involved and how the gold was concealed," he declared.
Karnataka Deputy Chief Minister D. K. Shivakumar earlier dismissed claims of ministerial involvement as baseless "political gossip."
Mr. Yatnal's controversial comments are not unprecedented. He previously criticized state unit chief B. Y. Vijayendra, son of former Chief Minister B. S. Yediyurappa, and called for Mr. Yediyurappa&rsquo;s resignation during his tenure.
In 2023, the Election Commission issued a notice to Mr. Yatnal for referring to Congress leader Sonia Gandhi as a "vishkanya."
Earlier, in 2020, he faced backlash after endorsing the abolition of a wedding assistance scheme for underprivileged women from minority communities, provocatively suggesting, "those who want the scheme can go to Pakistan." He further ignited controversy by labeling a prominent freedom fighter, who passed away at age 103, as a "Pakistani agent" due to his views on the citizenship law.

Actor Ranya Rao has been arrested for allegedly smuggling 14 kg of gold from Dubai to India, raising concerns about a potential wider smuggling network.

Ranya Rao Arrested for Gold Smuggling

The arrest of actor Ranya Rao for allegedly smuggling 14 kg gold from Dubai highlights potential links to a larger network, according to investigators.

Gold handed to Ranya Rao for smuggling

Actor Ranya Rao, stepdaughter of a senior IPS officer, arrested for allegedly smuggling 14 kg of gold from Dubai, highlighting VIP protocol abuse.

Actor Ranya Rao, best known for her debut in the 2014 Kannada film 'Maanikya', has come under the spotlight for her alleged involvement in a gold smuggling operation from Dubai.
Detained at Bengaluru airport on March 3, Rao was found with 14 kg of gold discreetly hidden in her clothing, raising suspicions of a broader smuggling syndicate.
Court documents opposing her bail reveal that Rao, stepdaughter of a senior IPS officer, meticulously planned her smuggling attempt.
Allegedly, she learned how to conceal gold by watching YouTube tutorials. She claimed during interrogation that she was instructed via an internet call to pick up the gold at Dubai International Airport.
According to the documents, at the airport's dining lounge, Rao met a man described as six feet tall with a wheatish complexion and an American accent.
He handed over two packets wrapped in a thick tarpaulin-like material, containing the smuggled gold.
Rao demonstrated forethought by purchasing adhesive tape from a nearby store, pre-cutting the tape given the lack of scissors at the airport.
After receiving the gold, Rao proceeded to a washroom to conceal it. Following online tips, she wrapped the gold bars around her calves and waist using the tape and hid smaller pieces in her shoes and pockets.
Upon arriving in Bengaluru on an Emirates flight, she reportedly bypassed security with assistance from a protocol officer allegedly complicit in the racket, according to the Directorate of Revenue Intelligence (DRI).
The protocol officer, Basappa Billur, testified that he had been instructed by Ramachandra Rao, Ranya's stepfather, to provide protocol assistance for his family members, indicating prior connections.
Ranya Rao's frequent travels drew scrutiny, with the DRI noting 27 trips to Dubai in the last six months, including four within a mere 15-day window.
Her movements and subsequent apprehension have now led to widespread investigations, as authorities delve deeper into potential ties to a larger smuggling network.
The case highlights ongoing challenges in combating smuggling through airport protocols and the methods employed by those seeking to evade detection.

Kannada actor Ranya Rao is arrested in connection with a gold smuggling racket. The investigation by multiple agencies targets a wide network.

Actor Ranya Rao's Arrest: Gold Smuggling Unveiled

Kannada actor Ranya Rao is arrested in a gold smuggling case, leading to an investigation by ED, DRI, and CBI. The probe aims to dismantle the intricate smuggling network.

More trouble as Ranya Rao faces investigation

Kannada actor Ranya Rao is arrested for smuggling gold, triggering a probe by multiple agencies into the intricate network involved.

In a significant crackdown on an alleged gold smuggling racket, the Enforcement Directorate (ED) has filed a money laundering case following the arrest of Kannada actor Ranya Rao.
The actor was apprehended with 14.2 kg of gold at Bengaluru Airport, triggering a multi-agency investigation into the intricate smuggling network involved.
The ED has initiated a money laundering probe, leading to searches at eight locations across Karnataka.
Meanwhile, the Directorate of Revenue Intelligence (DRI) raided nine sites in Bengaluru, including properties linked to Ranya Rao's husband, Jatin Vijaykumar Hukkeri.
The investigation into this high-profile case involves three major agencies.
The DRI is examining Ranya Rao's involvement, the Central Bureau of Investigation (CBI) is investigating the broader smuggling network, and the ED is focusing on potential money laundering via Hawala channels.
The 33-year-old actor, who is the stepdaughter of a senior IPS officer, was intercepted last week at Bengaluru Airport carrying gold not just in her luggage but also concealed within her clothing.
Her frequent Dubai trips&mdash;four in just 15 days&mdash;had aroused suspicions, leading to the interception and subsequent search of her residence. Authorities recovered gold jewelry worth Rs. 2.06 crore and cash amounting to Rs. 2.67 crore from her home.
According to officials, Ranya Rao was reportedly part of an extensive smuggling operation, earning Rs 4-5 lakh for every kilogram of gold smuggled from Dubai.
During interrogation, she revealed that she received instructions via an internet call to collect the gold at Dubai International Airport. She met an unidentified man in a white gown at the airport lounge, who handed her the gold wrapped in thick plastic.
She then concealed the gold on her body before boarding her flight to Bengaluru on March 3.
The DRI disclosed that Ranya Rao was able to pass through airport security with the assistance of a protocol officer complicit in the smuggling racket. However, her luck ran out as revenue officials stopped her mere feet away from the airport exit.
Ranya Rao remains in DRI custody, which has been extended until March 24, as the investigation continues to unravel the complexities of the smuggling network and those complicit in this illegal enterprise.

Ranya Rao, a Kannada actress, was apprehended at Kempegowda International Airport with 14 kg of gold, hinting at a smuggling network. CID investigates potential police involvement as wealth discrepancies and duty evasions surface.

Ranya Rao's Arrest: Gold Smuggling Scandal

Kannada actress Ranya Rao was detained at Kempegowda Airport with 14 kg gold, sparking investigations into a potential smuggling network. Authorities question her wealth discrepancies as CID probes possible police collusion.

Kannada actor Ranya Rao arrested for smuggling 14 kg gold at airport

Kannada actress Ranya Rao was caught at Bangalore airport smuggling 14 kg of gold. Authorities suspect a larger syndicate. The CID is investigating potential police collusion, while Rao's wealth discrepancies, including cash and jewelry, remain unexplained.

In a dramatic turn of events, Kannada actor Ranya Rao was apprehended at Kempegowda International Airport with 14 kilograms of gold concealed on her person.
The gold smuggling attempt came to light on March 4, after Rao, traveling from Dubai via an Emirates flight, was intercepted by Department of Revenue Intelligence (DRI) officials acting on a tip-off.
Ranya Rao, while passing through the green channel meant for travelers with nothing to declare, denied carrying any dutiable goods, including gold or other contraband. Despite having no baggage declaration or proof of legal purchase of the gold, the metal detector alerted officials to the presence of metal.
Although initial scans of her hand baggage and trolley revealed nothing, a personal search uncovered gold bars fastened to her waist and calf muscles with crepe bandages, along with gold concealed in her shoes and pockets.
The seizure of 14,213.050 grams of 24-karat gold marked the beginning of similar operations. According to the Customs Act, 1962, the permissible limit for carrying gold is valued at Rs 1 crore, significantly less than what Rao was carrying.
A subsequent search at her Lavelle Road residence unearthed Rs 2.67 crore in cash and over Rs 2 crore in jewelry, for which she could not provide valid documentation.
Further investigations revealed Rao's previous declarations to Dubai Customs in November and December, stating her intent to travel to Geneva with purchased gold.
However, her travel history showed she diverted to India, resulting in a duty evasion charge amounting to Rs 4.83 crore, exceeding the permitted limit of Rs 50 lakhs.
Authorities suspect that Rao's frequent trips to Dubai might be linked to a larger smuggling syndicate.
Her arrest was deemed necessary to prevent further offences and potential tampering of evidence, the DRI arrest memo stated, also noting that Rao has not fully cooperated with the investigation.
Controversy also surrounds claims that Rao was tortured in custody; however, the arrest memo clarified that existing injury marks under her eyes were from a previous incident.
This clarification comes amidst a Karnataka government-ordered Criminal Investigation Department (CID) probe into the smuggling case. Additionally, the state has initiated a separate inquiry into the involvement, if any, of Rao's step-father, senior IPS officer K Ramachandra Rao.
The CID has been tasked with investigating possible lapses within the police department and any potential collusion. The unfolding case promises further revelations as investigations continue into the sophisticated network allegedly linked to Rao's activities.

The Indian stock market is in turmoil, and many investors are turning to gold as a safe haven

Stock Markets Crash: Is Gold A Safe Investment In 2024? | Investing During Market Volatility

The Indian stock market is in turmoil, and many investors are turning to gold as a safe haven

The Indian stock market is in turmoil, and many investors are turning to gold as a safe haven. But is now the right time to invest? And if you decide to take the plunge, then what are the ways in which you can invest in gold? Let&rsquo;s find out!
 The yellow metal has long been viewed as a reliable asset during economic uncertainty. Here&rsquo;s why it can be a good investment:
 GOLD: THE POSITIVES
Inflation Hedge Crisis Commodity Portfolio Diversification Number one &ndash; Gold often works as an inflation hedge as it tends to retain its value even as inflation rises. It is also seen as a crisis commodity because in times of market instability, demand for gold often increases, driving up its price. And then, for many it&rsquo;s an investment to help reduce overall portfolio volatility.
Now, currently the Indian stock market is volatile, which boosts gold's appeal. However, it's essential to assess its valuation. It is in this context that market expert Feroze Azeez makes an interesting observation.
What does this mean for you &ndash; It means that Gold does not generate earnings like stocks or other income-generating assets. Therefore, Investors cannot rely on earnings growth or dividends when evaluating gold. In his conversation with Business Hook Feroze Azeez also highlighted the yellow metal is at its peak valuation. Domestic gold prices have soared past 80,000 rupees per 10 grams. Now, investing at these levels may increase the risk of price corrections or downturns if market conditions change or if economic indicators shift. Therefore, investors should be cautious while opting for it.
But in case you have decided to take the plunge, after taking into account all these factors, here are ways in which you can invest in gold in India. &nbsp; The first option is physical Gold in the form of jewellery, coins, and bars. Apart from that, you can also invest in Gold exchange-traded funds that track gold prices. And then there are Gold Mutual Funds that invest in gold mining companies or gold-related assets. One more option, offered by many new age startups is Digital Gold, where gold bought online is stored in vaults for you, which you can later redeem as physical gold. In summary, while gold can be a valuable addition to your investment portfolio, especially in uncertain times, it's crucial to conduct thorough research and consider your investment goals.

Gold prices have surged near $2,450 per ounce, nearing record highs. Factors such as Fed rate signals, Middle East tensions, the Ukraine-Russia war, China-Taiwan conflict, BRICS Summit, US elections and climate-related disasters are driving this rise

From Fed Rates to Geopolitical Tensions: What’s Driving Gold Prices?

Gold prices have surged near $2,450 per ounce, nearing record highs. Factors such as Fed rate signals, Middle East tensions, China-Taiwan conflict, BRICS Summit, US elections and climate-related disasters are driving this rise. Stay informed!

Gold has always been considered one of the safest investments, a hedge against economic uncertainty. But with gold prices surging near $2,450 per ounce, trading near record highs, what&rsquo;s driving this spike? Today, we&rsquo;ll dive into the key factors impacting global gold prices and how you can navigate these trends.
First up, the Federal Reserve&rsquo;s interest rate policy. For the past 10 meetings, the Fed has kept rates steady at 5.25% to 5.50%. However, Jerome Powell recently signaled a possible rate cut in the September meeting. This news caused the dollar to weaken, leading to a drop in U.S. bond yields and pushing gold prices higher. But that&rsquo;s just the tip of the iceberg.
Geopolitical tensions, especially in the Middle East, have a profound impact on gold prices.
The ongoing conflict between Hamas and Israel has already sparked concerns. If tensions escalate, expect a surge in demand for gold as investors seek a safe haven.
Moving on to the Ukraine-Russia conflict, which has been a significant factor since 2022. Any escalation in this war, especially with more sanctions on Russia, could cause market instability, driving investors towards gold as a safer asset.
China-Taiwan tensions are another major factor. China&rsquo;s military drills and its claims over Taiwan have raised global concerns. Any conflict here could have severe economic repercussions, leading to a spike in gold prices as investors flock to safety.
Next, we can&rsquo;t ignore the impact of climate-related disasters. Gold-producing countries are often vulnerable to such events, and any disruptions in supply could cause prices to soar.
The upcoming BRICS Summit is also on the radar. BRICS nations, major buyers of gold, are set to discuss key economic and geopolitical issues. Their decisions could challenge the dollar&rsquo;s dominance, potentially boosting gold prices.
Finally, let&rsquo;s talk about the upcoming U.S. elections. While election outcomes don&rsquo;t immediately affect gold prices, the policies of the new administration could influence trade, diplomacy, and geopolitical stability. Any significant shift could lead to increased demand for gold.
So, with so many factors in play, how should you approach investing in gold? Keep an eye on these global developments, do your research, and stay informed. Gold may be a safe bet, but understanding the forces driving its price is crucial.
Also Watch: <a href="https://www.editorji.com/business-news/residential-real-estate-boom-here-s-how-much-prices-have-gone-up-in-your-city-1724848451838">Residential real estate boom: Here's how much prices have gone up in your city</a>

Since the beginning of this financial year, gold prices have risen by 19% compared to the FY24 average, influenced by geopolitical tensions, inflation concerns, and currency fluctuations

Gold Jewellery demand to slow down due to rising prices: ICRA

Since the beginning of this financial year, gold prices have risen by 19% compared to the FY24 average, influenced by geopolitical tensions, inflation concerns, and currency fluctuations

The growth in demand for gold Jewellery, in terms of its monetary value, is anticipated to moderate to 6-8% in the current financial year, down from 18% in 2023-24, according to a report by rating agency ICRA.
This slowdown is attributed to consumers delaying high-value purchases amidst a recent spike in gold prices. ICRA also projects a decline in jewelry volume growth following subdued increases of 2% in FY23 and 4% in FY24.
Also read/watch - <a title="Elon Musk's Tesla plans stock based compensation for high performers" href="https://www.editorji.com/business-news/elon-musk-s-tesla-plans-stock-based-compensation-for-high-performers-1718701089797">Elon Musk's Tesla plans stock based compensation for high performers</a>
The agency noted that consumers are likely to monitor price trends closely and adjust their buying patterns over the next few quarters in response to elevated gold prices.
Due to the higher prices, Icra expects recycled gold to constitute a larger share of the total supply, potentially increasing by 400-600 basis points in FY2025.
In FY24, gold prices rose by 14%, contributing to increased revenue for jewelers despite sluggish volume growth. Since the beginning of this financial year, gold prices have risen by 19% compared to the FY24 average, influenced by geopolitical tensions, inflation concerns, and currency fluctuations.

Gold price jumped Rs 400 to hit its lifetime high of Rs 74,100 per 10 grams in Delhi. It had closed at Rs 73,700 per 10 grams on Thursday

Gold surges Rs 400, exceeds Rs 74k; Silver reaches new high

Gold price jumped Rs 400 to hit its lifetime high of Rs 74,100 per 10 grams in Delhi. It had closed at Rs 73,700 per 10 grams on Thursday

Gold and silver prices soared to fresh record high levels on Friday with the precious metal breaching Rs 74,000 per 10 grams mark here on bullish global trends.
According to HDFC Securities, gold price jumped Rs 400 to hit its lifetime high of Rs 74,100 per 10 grams in Delhi. It had closed at Rs 73,700 per 10 grams on Thursday.
Similarly, silver prices rose by Rs 100 to hit a new peak of Rs 86,600 per kg.
"Spot gold prices (24 carats) in the Delhi markets are trading at a record high of Rs 74,100 per 10 grams, up by Rs 400 amid a positive trend in the overseas markets," Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.
In the overseas markets, spot gold at Comex was trading at USD 2,390 per ounce, up by USD 15 from the previous close.
Gold in the global market surged near a record high in the Asian trading hours on Friday, following reports that Israel had struck targets on Iranian soil, days after Iran had launched an attack on Israel in retaliation for a raid on its consulate in Syria.
This has increased the possibility of a larger regional conflict that would support higher gold prices.
Additionally, silver was quoted higher at USD 28.29 per ounce. In the previous close, it had finished at USD 28.25 per ounce.
According to market analysts, a string of reports, including US inflation data which has remained hotter than forecast this year, have pushed the top US Federal Reserve officials to say recently they could hold interest rates high for a while.
That's a letdown after the Fed earlier had signalled three cuts to interest rates could be possible this year. But Fed officials have been adamant they want to be sure inflation is heading down toward their 2 per cent target before lowering the Fed's main interest rate from its highest level since 2001.

The Kolkata-based retail chain said it has taken a slew of measures to combat the demand situation, with a push toward diamond-studded gold jewellery and consumer-centric schemes

Gold jewellery demand dampens by price surge 

The Kolkata-based retail chain said it has taken a slew of measures to combat the demand situation, with a push toward diamond-studded gold jewellery and consumer-centric schemes

Jewellery retail major Senco Gold Ltd on Friday said the recent sharp spurt in gold prices due to geopolitical reasons has dampened demand, and the industry's first-quarter performance hinges upon ongoing buying propensity during festive and auspicious New Year celebrations.
The Kolkata-based retail chain said it has taken a slew of measures to combat the demand situation, with a push toward diamond-studded gold jewellery and consumer-centric schemes.
However, these may not compensate for the 15-20 per cent de-growth in volume terms witnessed in March and April, a top company official said.
"In the last 30 days, the gold price has jumped about 10 per cent, and in the last six months, it has become costlier by 23-25 per cent. This sharp volatility has hit retail buying sentiment. Volumes have plummeted by 15-20 per cent for the industry," Senco Gold managing director and CEO Suvenkar Sen said.
Eid, Bengali New Year, Akshay Tritiya, and regional New Year festivities are expected to help bring demand into stores, but cash movement restrictions because of the election model code of conduct might be a hurdle for certain retailers.
Senco had reported a 23 per cent growth in its consolidated net profit at Rs 27.6 crore for the quarter ended June 2023, from revenue expansion of 30 per cent to Rs 1,305 crore.
He, however, acknowledged that in "value terms," the market is expected to be flat as gold is hovering around Rs 70,000 per 10 grams.
Sen expects a flattish performance in the year-on-year fourth-quarter sales that ended in March 2024.
The company is in a silent period for results, and thus Sen declined to divulge more specific details.
Senco said that it has introduced a price guarantee scheme for six months under the Marigold scheme, which the industry offers only up to one month until Akshay Tritiya, where a customer books gold and gets immunity from price rise.
The company is also offering discounts in making charges to push sales during this period. The company also has DigiGold, which allows customers to invest in gold for as low as Rs 300.
Sen mentioned that the company is focusing more on diamond-studded gold jewellery, which has either narrowed the gap or even made ornaments less costly as they are made up of 14-carat gold.
He expects diamonds, including lab diamonds, which account for 11 per cent of total revenue, to increase to at least 15 per cent in the next 2-3 years.

As of April 12, 2024, the price of 10 grams of 22-carat gold in Delhi is around 66,360 rupees, while 10 grams of 24-carat gold is priced at approximately 72,380 rupees

Gold peaks on strong US inflation, Fed rate cut speculation: Check April 12 rates for 24 carat

<h2>As of April 12, 2024, the price of 10 grams of 22-carat gold in Delhi is around 66,360 rupees, while 10 grams of 24-carat gold is priced at approximately 72,380 rupees</h2>

Gold rates surged today in both domestic and international markets due to robust US inflation figures and speculation about a potential US Fed rate cut.
Comex gold prices hit a record high of $2,412 per troy ounce, while spot gold prices reached $2,395 per ounce in early morning trading.
Silver prices also rose to a new peak on the Multi Commodity Exchange during the early session.
 In India, gold prices rose on April 12 despite fluctuations earlier in the week. As of April 12, 2024, the price of 10 grams of 22-carat gold in Delhi is around 66,360 rupees, while 10 grams of 24-carat gold is priced at approximately 72,380 rupees.

Investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report

Gold hits another record high on Fed rate cut bets

<h2>Investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report</h2>

Gold hit another fresh record high Monday as investors grow confident that the Federal Reserve will cut interest rates this year, even after data showed a slight uptick in a key inflation report.
The precious metal has enjoyed healthy buying interest this year as the US central bank hints at an easing of credit conditions.
It hit a new high of $2,265.73 on Monday, according to Bloomberg News.
On Friday, the closely watched personal consumption expenditures (PCE) index -- the Fed's preferred gauge of inflation -- showed a small on-year rise in March compared with February, though the core reading eased slightly.
Federal Reserve chair Jerome Powell said the report was "pretty much in line with our expectations" and decision-makers were on track to hit their long-term inflation target of two percent.
He said that, while the recent inflation data was higher than the Fed would have liked, the February figures were "definitely more along the lines of what we want to see".
The data appeared to have little impact on traders' expectations for a June interest rate cut, though Powell warned they were unlikely to fall to the levels seen after the 2008 global financial crisis.
Adding to the upward pressure on prices is its demand as a safe haven in times of turmoil owing to growing geopolitical tensions, with concerns that Israel's war on Hamas in Gaza will spread further.
An air strike in Lebanon Sunday stoked further tensions, with Israel saying a Hezbollah missile unit commander had been "eliminated".
Israel and the Iran-backed group have been exchanging near-daily cross-border fire for months.
Traders are also keeping a close eye on developments in the long-running Ukraine conflict.
Because bullion does not generate any interest, it benefits when central banks lower borrowing costs because its safe-haven status makes it more attractive to investors.

The average price of 10 grams of 22K Gold stood at ₹57,750 while the cost for 24K gold prices stood at ₹63,000 and 1 kg silver stood at ₹74,500

Gold, Silver Price Today February 06, 2024: Check Latest Rates in Mumbai, Delhi, Chennai, Bengaluru

<h2>The average price of 10 grams of 22K Gold stood at ₹57,750 while the cost for 24K gold prices stood at ₹63,000 and 1 kg silver stood at ₹74,500</h2>

Gold Silver Price Today 06 February 2024: Both Gold &amp; Silver prices fell on the Multi Commodity Index on Tuesday.
The average price of 10 gram of 22K Gold stood at ₹57,750 while the 24K gold prices stood at ₹63,000.&nbsp;
The rate of 10 grams of 24K gold in Chennai stood at ₹63,600, which was followed by Delhi and Jaipur where the gold costs ₹63,150.&nbsp;
The average price of 1 kg of silver stood at ₹74,500.
However, in Chennai, Hyderabad, and Kerala the metal was sold at ₹76,000 followed by Delhi and Mumbai where the metal was sold at ₹74,500
<h3>24 Carat Gold Price Today 06 February (per 10gm) - Indian Top Cities</h3>
Delhi - ₹63,150 Chennai - ₹63,600 Mumbai - ₹63,000 Kolkata - ₹63,000 Bengaluru - ₹63,000
<h3>1 KG Silver Price Today 06 February - Indian Top Cities</h3>
Delhi - ₹74,500 Chennai - ₹76,000 Mumbai - ₹74,500 Kolkata - ₹74,500 Bengaluru - ₹72,500
Gold and Silver prices experience fluctuations influenced by multiple factors, including insights from jewellers. These factors encompass global demand for gold, fluctuations in currency values across nations, prevailing interest rates, and governmental regulations governing the gold trade.
Additionally, global events such as the state of the world economy and the strength of the US dollar relative to other currencies significantly impact gold prices within the Indian market.

In early December, gold prices skyrocketed again on global tensions in the Middle East, and emerging market participants anticipated that the rate hike cycle has more or less ended

Gold prices to reach Rs 70,000 in 2024, says experts

<h2>In early December, gold prices skyrocketed again on global tensions in the Middle East, and emerging market participants anticipated that the rate hike cycle has more or less ended</h2>

Continuing to glitter in 2024 as well, gold price is likely to touch Rs 70,000 per 10 grams in the domestic market on the back of a stable rupee, geopolitical uncertainties and slowing global economic growth, according to experts.
Price Trends and Record Highs
Currently, the yellow metal price is hovering at Rs 63,060 per 10 grams on the commodity stock exchange MCX and around USD 2,058 an ounce in the international market at a time when the rupee is trading above 83 against the US dollar.
In early December, prices skyrocketed again on global tensions in the Middle East, and emerging market participants anticipated that the rate hike cycle has more or less ended.
Also read/watch - <a title="Zomato breaks delivery records on New Year's Eve 2023; ₹97 lakh given as tips to delivery partners" href="https://www.editorji.com/business-news/zomato-breaks-delivery-records-on-new-year-s-eve-2023-customers-give-97-lakh-given-as-tips-1704102649603">Zomato breaks delivery records on New Year's Eve 2023; ₹97 lakh given as tips to delivery partners</a>
As per PTI's report, the gold price remained volatile this year, it reached a new high of Rs 61,845 per 10 grams on May 4 in the domestic market and USD 2,083 an ounce in the global markets. Later, the yellow metal touched a record high of Rs 61,914 per 10 grams on November 16.
In a reflection of its safe-haven appeal, gold touched an all-time high of Rs 64,063 per 10 grams and USD 2,140 an ounce on December 4.
"We expect an eventual rise to USD 2,400 in 2024, and if the rupee is to be stable, gold is likely to reach around Rs 70,000 levels. As India faces elections, the rupee could weaken as Foreign Institutional Investors (FIIs) are expected to lighten up their portfolios, which could further bolster domestic prices for gold, Commtrendz Research Director Gnanasekar Thiagarajan told PTI.
Kotak Securities Vice President - Head Commodity Research Ravindra Rao said retail jewellery buying might face headwinds from higher domestic prices in India and China while central banks' demand might exceed last year's record if the current momentum continues.
Rao noted that robust central bank buying alongside solid bar and coin demand helped gold prices amid surging bond yields and a strong US dollar throughout the year, as the US Federal Reserve raised the interest rates to a 22-year high.
"The central banks' buying has turned out to be a major demand driver for physical gold since the last few quarters. Record high domestic prices and uneven monsoon weighed on Indian jewellery consumption while the Chinese economic downturn led to an increase in the jewellery demand from the top consumer nation," he said.
Also read/watch - <a title="Markets off to weak start on first day of trade of 2024; analysts warn of possible corrections" href="https://www.editorji.com/business-news/markets/markets-off-to-weak-start-on-first-day-of-trade-of-2024-analysts-warn-of-possible-corrections-1704092123637">Markets off to weak start on first day of trade of 2024; analysts warn of possible corrections</a>
On the price front, Rao said Comex gold has once again taken resistance near USD 2,080-2,090.
Even though rates might stay higher for some time, the current geopolitical environment, slowing global growth, and economic uncertainties further increase the appeal of the yellow metal, he added.
Factors Affecting Demand
All India Gem and Jewellery Domestic Council (GJC) Chairman Saiyam Mehra said the volatility in gold prices impacted sales, and in spite of 30-35 lakh weddings, the business will be the same as in 2022.
"With the US Fed reducing rates, and continuing geopolitical tensions, the weak rupee will further boost gold prices, which is likely to touch USD 2,250-2,300 and Rs 68,000-70,000 in 2024. The high prices will impact sales further in 2024, and the business is likely to remain at the same level as 2023," he said.
Outlook and Influencing Factors
Gem Jewellery Export Promotion Council (GJEPC) Chairman Vipul Shah said 2023 was a tough year for the exporters, mainly due to a decline in demand in the key markets following a rise in interest cost, geopolitical issues and China continuing to remain closed even after Covid.
"However, the situation has started to improve, and we expect things to improve in 2024, as interest rates are expected to come down, and we hope geopolitical issues will be resolved, boosting the global economy. We also expect the China market to open after remaining closed for a long period," he added. &nbsp;

1 KG Silver Prices in Delhi, Mumbai, Kolkata, Bengaluru stand at ₹77,500, Meanwhile, 1kg prices of silver in Chennai stand at ₹79,500

Gold, Silver Rates today December 19, 2023: Check Prices in Mumbai, Delhi, Chennai

1 KG Silver Prices in Delhi, Mumbai, Kolkata, Bengaluru stand at ₹77,500, Meanwhile, 1kg prices of silver in Chennai stand at ₹79,500

On Tuesday's early trade, the price of 24-carat gold remained steady at Rs ₹62,770 for ten grams, as per GoodReturns. Conversely, the price of silver dropped by Rs 500, with one kilogram valued at Rs 77,500.
24 Carat Gold Price Today December 19 (per 10gm) - Indian Top Cities
Delhi - ₹62,770 Chennai - ₹63,220 Mumbai - ₹62,620 Kolkata - ₹62,620 Bengaluru - ₹62,620
1 KG Silver Price Today December 19 - Indian Top Cities
Delhi - ₹77,500 Chennai - ₹79,500 Mumbai - ₹77,500 Kolkata - ₹77,500 Bengaluru - ₹77,500

The domestic market, the gold future contract for February 2024 on MCX spiked to an unprecedented ₹64,000 per 10 grams

Gold hits record high amid US Fed rate cut expectations: Time to buy or sell the yellow metal? 

The domestic market, the gold future contract for February 2024 on MCX spiked to an unprecedented ₹64,000 per 10 grams. Concurrently, silver prices on MCX started at ₹78,450 per kg, peaking at ₹78,549&nbsp;

Gold rates on Monday surged to record highs amidst speculations of a potential US Fed rate cut following remarks by Jerome Powell. Early in the Asian stock market, gold soared past $2,100 (₹175,197), hitting an all-time peak of $2,146 (₹179,319) per ounce.
Similarly, in the domestic market, the gold future contract for February 2024 on MCX spiked to an unprecedented ₹64,000 per 10 grams. However, profit booking led to a retracement from these highs, pulling gold prices below $2,100 (₹175,197).
In tandem, silver prices (March 2024 expiry) on MCX started at ₹78,450 per kg, surging to an intraday high of ₹78,549 within minutes of market opening. Internationally, silver hovered around $25.50 per ounce.
Also read/watch - <a title="Stock markets zoom: Post election rally propels Sensex, Nifty to new highs" href="https://www.editorji.com/business-news/markets/stock-markets-zoom-post-election-rally-propels-sensex-nifty-to-new-highs-1701689750620">Stock markets zoom: Post election rally propels Sensex, Nifty to new highs</a> HDFC Securities on factors driving the Gold surge
Anuj Gupta from HDFC Securities attributed the surge in gold prices to expectations of a US Fed rate cut. Speculation arose after Jerome Powell's speech, suggesting a potential rate cut by March 2024, likely impacting bond yields and further weakening the US dollar.
According to an ICICI Securities report, gold's rise is linked to weakened treasury yields and the US dollar. German yields hit recent lows, and the 10-year US treasury yields dropped amid speculation that the Fed might conclude its tightening cycle. Powell's speech hinted at the impact of tighter monetary policies on slowing the economy, aligning with their forecasts.
Commenting on gold's outlook, Anuj Gupta highlighted strong support at $2,050 per ounce, with resistance at $2,025. On MCX, gold has support at ₹62,800 and faces a hurdle at ₹64,800 per 10 grams. Gupta suggested a buy-on-dips strategy, citing an overall positive trend for the precious metal in the near term.

Anita Lalwani Surana captioned the video saying tag your extremely rich friends who can buy this 'Gold Paan' for you

This Nawab Gold Paan made of real gold betel leaf has taken the internet by storm, watch how it's made

Anita Lalwani Surana captioned the video saying tag your extremely rich friends who can buy this 'Gold Paan' for you

Paan, with its aromatic blend of betel leaf, areca nut, and various flavorful ingredients, holds a special place in the heart of India. Its widespread popularity transcends regional boundaries, and it serves as a cherished cultural tradition, symbolizing hospitality, social bonding, and a delightful post-meal indulgence for millions across the country.
<h3>Nawab Gold Paan</h3>
There are various kinds of paan lovers but to buy this paan you might have to be pretty rich. Why you ask? Made by Delhi based paan vendor Anita Lalwani Surana, this paan is made of 24 carat real gold betel leaf. To make it more exotic saffron and jelly infused with gold flakes were also added to the paan. The video of its making has taken the internet by storm with hilarious comments pouring in. This paan is available Yamu's Panchayat, Connaught Place, New Delhi.
<h3>Ingredients of Nawab Gold Paan</h3>
This special paan is prepared by spreading lime water and a katha paste on the surface. Ingredients like saffron and jelly infused with gold flakes are added. Silver edible leaves on also put on the paan, alongwith dry edible gold flakes. The paan also included ingredients like areca nut, sauf, and assortment of jelly-like pastes with various flavours. Finally the paan is garnished with Indian spices like cardamom, saffron, cloves, aniseed, turmeric, mustard, and sweeteners to add extra flavour.
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In India the demand rose 10% to 210.2 tonnes during the third quarter of the calendar year, while the global gold demand was 8% ahead of its five-year average, but 6% weaker year-on-year (YoY) at 1,147 tonnes

Investment in gold bar and coin touches 55 tonnes in India, highest since 2015

<h2>In India the demand rose 10% to 210.2 tonnes during the third quarter of the calendar year, while the global gold demand was 8% ahead of its five-year average, but 6% weaker year-on-year (YoY) at 1,147 tonnes</h2>

Gold Investment: Purchase of gold bars and coins touched 55 tonnes in the third quarter of the calendar year. This is the highest since 2015, according to a World Gold Council (WGC) report.&nbsp;
<h3>World Gold Council Report</h3>
The demand for gold bars and coins jumped 20% during the July-September quarter versus the same period last year. It was aslo 38% higher than its five-year quarterly average of 40 tonnes.&nbsp;
"Investors reacted to the downward correction in the gold price from its Q2 record high, adding to their holdings in the expectation of a price recovery in Q4 as the wedding and festive season gets underway," noted the report.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/personal-finance/festive-season-2023-gold-demand-may-dampen-as-prices-rally-says-world-gold-council-1698747715442">Festive Season 2023: Gold demand may dampen as prices rally, says World Gold Council</a>
As per the data, the global gold demand between July-September 2023 was 8% ahead of its five-year average, but 6% weaker year-on-year (YoY) at 1,147 tonnes. Meanwhile in India, the overall gold demand rose 10% to 210.2 tonnes during the third quarter of this calendar year.&nbsp;
"In the last quarter, as prices softened a bit, more people were waiting to buy gold and bought more bars and coins instead of jewellery. Therefore there was a 20 per cent jump in demand for bars and coins in Q3," WGC India Regional CEO Somasundaram PR said
This quarter saw a soft start, which can be attributed to Adhik Maas, which is viewed as inauspicious for making new purchases. However, festivals like Onam and Varalakshmi Nombu during August and September improved the sentiment.&nbsp;
This helped South India outperform other regions. North India was the weakest and saw a yearly decline, partly reflecting a weaker rural sector and a relative lack of major festivals during the quarter.
An elevated gold prices, increased the popularity of lower-carat gold like 18K and 14K. Somasundaram also said that with the first nine months' demand at 481.2 tonnes, the full-year 2023 gold demand would be in the range of 700-750 tonnes, marginally lower than the 774 tonnes demand in 2022.
<h3>Gold demand may fall in December</h3>
Meanwhile, another report by World Gold Council has indicated that higher prices could cut back the purchases in December. The demand for gold usually becomes strong towards the end of the year, as people believe buying gold during Dussehra and Diwali is auspicious. However the price rise has dampened the demand for Gold.

According to World Gold Council, the demand is expected to be lower than last year's 276.3 metric tons in the December quarter due to rise in price

Festive Season 2023: Gold demand may dampen as prices rally, says World Gold Council

<h2>According to World Gold Council, the demand for gold is expected to be lower than last year's 276.3 metric tons in the December quarter due to rise in price</h2>

Gold demand:&nbsp;World Gold Council (WGC) has said that the gold demand during the peak festive season in India this year may dampen, as the prices rally. A drop in sales in India, could limit a rally in global prices. This is because India is the world's second largest gold consumer.
<h3>Bullion Buying</h3>
As per Somasundaram PR, regional chief executive officer of WGC's Indian operations has mentioned that higher prices in December could cut back the purchases. Usually, the highest sales of the year is seen in December.&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/economy/festive-season-sale-2023-spending-on-cars-smartphones-tvs-and-other-luxury-items-rise-1698207163427">Festive Season Sale 2023: Spending on cars, smartphones, TVs and other luxury items rise</a>
The demand for gold becomes strong towards the end of the year, as people believe buying gold during Dussehra and Diwali is auspicious. As per Business Standard, the gold prices jumped this week to 61,396 rupees per 10 grams, near the all-time high of 61,845 rupees hit earlier this year. Last year, prices in the December quarter were nearly 20% lower than this year.
As per Somasundaram, the demand is expected to be lower than last year's 276.3 metric tons in the december quarter.&nbsp;
"Currently, price is a significant influencer. If there is a substantial drop in price closer to Diwali, the entire situation could change," he said.
As both the jewellery and investment demand improved as the prices fell in the July-September quarter fell, the gold consumption rose 10% to 210.2 metric tons. He further mentioned that in 2023, the demand could fall to around 700 metric tons which is the lowest in three years. Last year, the demand was at 774.1 metric tons.
Meanwhile, a WGC data has also mentioned that the rise in prices, is prompting some people to sell their old jewellery and coins. This has lead to a jump in scrap supplies by 37% from a year ago to 91.6 tons in the first nine months.

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