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Exchange of old gold has risen almost 60% year-on-year, say jewellery retailers
Gold prices are soaring in India, prompting a surge in old gold exchanges. Consumers are trading in existing jewellery to buy new pieces. This trend is reshaping the jewellery market. Leading retailers report significant increases in exchange-led sales. This shift helps reduce the country's reliance on gold imports. Household gold is now entering the market.
India eyes Venezuelan upstream & downstream energy sectors; Modi-Gomez explore partnership in critical minerals & mining too
India is seeking a long-term energy partnership with Venezuela. Prime Minister Narendra Modi held talks with Venezuela's acting President Delcy Eloina Rodriguez Gomez. Discussions covered crude oil supply diversification and cooperation in critical minerals. Both nations also explored expanding commercial ties in pharmaceuticals, agriculture, and transportation. A technical team from India will visit Venezuela soon to explore opportunities further.
Trade Setup For June 5: Nifty's Next Hurdle At 23,500 Level As Oil Cools, US-Iran Truce Talks Progress
Nifty on the charts for Friday.
What's likely to move markets in the next trading session on June 5?
Three significant events are set for Friday, June 5, making it a key session for the markets: the RBI's MPC will announce its decision; January–March quarter GDP data will be released; it's also Reliance Industries' record date.
US Stock Market Today: Wall Street Diverges—Dow Gains As Oil Prices Ease; S&P, Nasdaq Slip On Chip Stocks Rout
The Dow Jones rose over 500 points at open to trade 1% higher at 51,183.66, S&P 500 remained muted during open, and was trading 0.17% lower at 7,539.9.
Gold Crosses $4,500, Silver Spikes 2.5% After Trump's Fresh Peace Hint; Check Domestic Rates
Gold, silver prices edged upwards after oil slipped in the international market.
Brent Slumps Over 3%, US Crude Oil Retreats To $92 As Trump Hints At Nearing Deal To End Iran War
Brent crude futures were trading down 3.51% at $94.38 per barrel after falling as low as $94.33 during the session.
Government rolling out 100 ethanol fuel stations in Delhi-NCR, Maharashtra: Hardeep Singh Puri
India is expanding its network of ethanol fuel stations across Delhi-NCR, Pune, Mumbai, and Nagpur. This initiative aims to significantly reduce the country's reliance on imported fossil fuels. The government plans to increase the number of these stations to 500 by the end of 2026 and anticipates 5,000 by 2027. This move supports cleaner fuel alternatives and boosts farmer income.
'Perfect Complementarity': Govt Hints At Major Bump In Oil Imports From Venezuela
MEA said Venezuela has already emerged as India's third-largest crude oil supplier.
India's ageing ammonia plants need upgradation, says industry body FAI
India's fertiliser sector faces a challenge with its heavy reliance on imported natural gas. The Fertiliser Association of India is urging for improved efficiency and new technology in ammonia production. This is crucial for strengthening domestic fertiliser security. The industry is working towards better plant operations and maintenance.
Reliance traders said to game plan in case RBI raises rates
Reliance Industries' treasury department is exploring strategies to manage its cash reserves amid potential interest rate hikes by the Reserve Bank of India. Traders are considering shifting funds to short-dated money market instruments, anticipating capital gains as yield spreads are expected to narrow. The company's discussions precede an upcoming RBI rate decision, with markets anticipating potential hawkish measures.
India's data centre capacity could hit upper end of 5-8 GW target by 2030; Adani, Reliance best placed, says Bernstein
India’s data centre capacity could expand to the upper end of the projected 5-8 GW range by 2030 from about 1.5 GW currently, according to Bernstein. The brokerage sees Adani Group and Reliance Industries as best positioned to benefit, citing their access to land, power infrastructure and transmission networks.