Gold prices have surged into uncharted territory, driven by Iran getting directly involved in the escalating conflict between Israel and Lebanon. This latest catalyst in geopolitical tension has fueled a bullish sentiment, with gold now trading at all-time high levels. Market analysts are now projecting one-year targets between $2,900 and $3,200 per ounce, up from the current $2,650.
Since the beginning of September 2024, the yellow metal has gained 5.24 per cent in international markets and 4.5 per cent in Mumbai's spot market. The rally shows no signs of slowing.
“The gold train is running without breaks,” said T Gnanasekar, co-founder and CEO of Commtrendz Research. “The US Federal Reserve's decision to cut interest rates has created a favorable environment for a bullish trend in gold.”
Stimulus measures from China, uncertainties surrounding the US presidential elections, and the recent flare-up in West Asia are boosting this rally, he pointed out.
Denne historien er fra October 03, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra October 03, 2024-utgaven av Business Standard.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Industry bodies urge FinMin to ease TDS rate structure
Proposal seeks to lessen compliance burden on taxpayers and avoid litigation
After SC rap, Centre doubles penalty for stubble burning
Burning issue
Proactively made all disclosures, recusals: Sebi WTM on Cong's charges
Ananth Narayan, whole-time member (WTM), the Securities and Exchange Board of India (Sebi), has responded to allegations of conflict of interest due to personal investments.
Market regulator may water down skin-in-game rules for MF executives
The Securities and Exchange Board of India (Sebi) has shown intent to relax the skin-in-the-game norms applicable to senior executives of the mutual fund (MF) industry.
MSCI adds 5 Indian stocks to key index
MSCI added five Indian companies to its Global Standard Index late on Wednesday, a move that brokerage Nuvama said would lift the country's weighting on the index to 20 per cent, further narrowing the gap with China.
Trump's triumph: Will bulls run amok and gold, silver sparkle?
Top brokerages highlight opportunities, risks, and contradictions the new administration may offer
REIMAGINING ROLE OF AGRICULTURE
In the changed context of economic development, agriculture is seen playing a much larger role than perceived in the dominant thinking in development economics
Inside the world of mad billionaires
Two things about this book and its authors. One, this is the most unputdownable non-fiction that I have read this entire year.
Funding education
Easy financial assistance is not enough
Policy approach
RBI is acting selectively and with care
