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Explained: What PM Modi’s comments on deferring gold purchases for 1 year mean for yellow metal investors?
Prime Minister Narendra Modi urged Indians to avoid buying gold for the next year, a notable appeal in a country where the metal is deeply tied to savings and tradition. The move is seen as an attempt to ease pressure on India’s foreign exchange reserves, as rising gold imports increase demand for U.S. dollars amid growing global uncertainty.
After PM Modi’s WFH appeal, Nitin Gadkari has this message for Indians to save fuel amid Iran war
Amid escalating Middle East tensions, Prime Minister Modi urged citizens to conserve fuel by reducing petrol and diesel consumption, promoting work-from-home, public transport, and carpooling. He also advised against non-essential foreign travel and gold purchases for at least a year to bolster foreign exchange reserves and the domestic economy.
Stock Market Crash News Today Live Updates: Nifty Falls Below 23,900, Sensex Slides 900 Points; Hyundai India, Tata Consumer Up Over 3% After Q4 Results
The GIFT Nifty, an early indicator of Nifty 50's performance, traded at24,064, compared to Friday's index close of 24,176.15.
RBI, European Central Bank sign revised agreement on information exchange, central banking ties
The Reserve Bank of India and the European Central Bank have signed a Memorandum of Understanding. This agreement aims to boost cooperation in central banking. The MoU updates a previous pact from 2015. It will facilitate information exchange and policy dialogue. Both banks will collaborate on mutual interests. This strengthens their engagement on banking practices and financial sector growth.
Gold, silver seen range-bound for second week amid US-Iran talks: Analysts
Gold and silver may remain range-bound for a second consecutive week as investors assess developments in US-Iran peace negotiations and global macroeconomic data, analysts said. Traders will track inflation data from China, Germany, and the United States, along with GDP numbers from the Eurozone and the UK, later this week, they added. "Gold prices momentum looks consolidative, while silver movement looks positive in the coming week as traders will focus again on the progress on peace talks between the US and Iran to end the war and markets are likely to react accordingly," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services Ltd, said. On the Multi Commodity Exchange (MCX), gold futures gained Rs 1,178, or nearly 1 per cent over the past week, to settle at Rs 1.52 lakh per 10 grams. Silver climbed Rs 10,985, 4.4 per cent, to close at Rs 2.61 lakh per kg. "Gold traded with a positive undertone last week, posting gains of nearly 1 per cent on MCX ..
Gold, Silver Seen Range-Bound For Second Week Amid US-Iran Talks: Analysts
On the Multi Commodity Exchange (MCX), gold futures gained Rs 1,178, or nearly 1 per cent over the past week, to settle at Rs 1.52 lakh per 10 grams. Silver climbed Rs 10,985, 4.4 per cent, to close at Rs 2.61 lakh per kg.
Titan Company unfazed about gold supply in short term as exchange programmes aid sourcing
Titan Company remains unconcerned about immediate gold supply disruptions stemming from the West Asia conflict. The jeweller's successful gold exchange program and robust contingency sourcing plans are effectively mitigating risks. This strategy ensures continued operations for Titan, Tanishq, and CaratLane.
Trust MF’s Mihir Vora sees earnings driving markets, stays bullish on industrials and renewables
Mihir Vora, Chief Investment Officer at Trust Mutual Fund, remains overweight on the industrial theme, particularly renewables, capital goods, and manufacturing-linked investments supported by production-linked incentive (PLI) schemes.
India's forex kitty drops by $7.79 billion to $690.693 billion: RBI
India's forex reserves dropped by USD 7.794 billion to USD 690.693 billion during the week ended May 1, the RBI said on Friday. In the previous reporting week ended April 24, the overall reserves had declined by USD 4.82 billion to USD 698.487 billion. The kitty had expanded to an all-time high of USD 728.494 billion during the week ended February 27 this year before the beginning of the Middle East conflict, which led to several weeks of a drop as the rupee came under pressure and the RBI had to intervene in the forex market through dollar sales. For the week ended May 1, foreign currency assets, a major component of the reserves, decreased by USD 2.797 billion to USD 551.825 billion, the central bank's data showed. Expressed in dollar terms, the foreign currency assets include effects of appreciation or depreciation of non-US units, such as the euro, pound, and yen, held in the foreign exchange reserves. Value of gold reserves decreased by USD 5.021 billion to USD 115.216 billio
Wealthtech platform ZFunds launches India’s first AI assistant for new-age wealth managers
ZFunds has launched ZIVA, an AI-powered assistant aimed at helping mutual fund distributors and wealth managers streamline workflows, improve client engagement, and automate portfolio analysis. The platform, tested in a pilot phase, claims to significantly reduce workload while enhancing efficiency through data-driven insights and multilingual support.
Exclusive: We are building a full-scale investment solutions firm, says Jio BlackRock CEO | Q&A
Jio BlackRock Mutual Fund rapidly climbs to 29th among 52 fund houses, manages about Rs 18500 crore, plans GIFT City SIFs, ETFs and commodity focused ETFs in coming months
BSE wants more participation and products, not just a bigger market share, says CEO
Sundararaman Ramamurthy believes India’s mutual fund penetration remains low relative to the country’s population, leaving significant room for growth as financial awareness and retail participation continue to rise.