Gold prices have reached a historic high, surpassing Rs 1 lakh per 10 gm in India and $3,400 per troy ounce in New York due to escalating global market uncertainty caused by Trump's plans to revamp the Federal Reserve. The US dollar, which was already weakened due to the ongoing US-China trade war, suffered further losses as Trump criticized Fed chief Jerome Powell for not cutting interest rates. The surge in gold prices is also fueled by geopolitical tensions, central bank demand, and inflation concerns, making it the preferred safe-haven asset for investors.
According to recent reports, India's trade deficit has expanded to $22.99 billion in January 2025, surpassing market expectations of $21.0 billion. This marks a significant increase from December 2024's $21.94 billion deficit and January 2024's $16.56 billion deficit. The rise in the trade gap can be attributed to a decrease in exports and a slight increase in imports, amidst global economic uncertainty. While the oil and gold deficit has decreased, the non-oil, non-gold deficit has contributed significantly to the overall trade gap. As oil prices continue to rise, close monitoring of global economic developments will be crucial in shaping India's trade outlook.
In a move to boost sales and accommodate excess milk supply, Amul has decided to reduce the prices of its top products, such as Amul Gold, Amul Taaza, and Amul Tea Special, by Re 1 per litre across India. This price cut is expected to drive demand for larger pack sizes while maintaining Amul's competitive edge in the dairy industry. However, no changes have been made to the prices of other products and packages.
On November 30, gold prices in India witnessed a significant increase, with the price of 24-carat gold reaching Rs 78,270 per 10 grams and 22-carat gold at Rs 71,770 per 10 grams. The retail price of gold per gram represents the cost consumers pay for a single gram of gold, influenced by global economic conditions, geopolitical developments, and supply and demand dynamics. In India, the retail price is also impacted by additional factors like import duties, taxes, and currency exchange rates.
China's Geological Bureau of Hunan Province has announced a groundbreaking discovery of a massive gold reserve in the Wangu gold field, with an estimated value of £66 billion. The deposit, believed to contain up to 1,100 metric tonnes of gold, has sparked a surge in gold prices and will have significant implications for both domestic and global markets. However, experts caution that the find will only partially address China's high gold consumption needs and will still require substantial imports. Stay updated on all the latest tech and gadget news on Gadgets 360, and don't forget to follow our in-house influencers, Who'sThat360, on Instagram and YouTube.
Tottenham Hotspur will face Roma in the Europa League looking to redeem themselves after their last defeat to Galatasaray. With only the top eight teams in the league phase advancing to the round of 16, Tottenham will need to secure three points to ensure their position in the standings. Despite missing some key players, manager Ange Postecoglou can count on the return of Rodrigo Bentancur, who was suspended for domestic games. Keep up with all the action as Alasdair Gold provides live updates from Tottenham Hotspur Stadium. Stay warm on match day with heated clothing, foot warmers, and thermal beanies, all for affordable prices. Roma's starting lineup will include Mancini (c), Hummels, N'Dicka, Zeki Celik, Paredes, Kone, Angelino, Dybala, Dovbyk, and El Shaarawy with Marin, Ryan, Cristante, and more on the bench.
The recent U.S. presidential election result has caused a dramatic shift in the gold market, as prices dropped to a three-week low due to a surge in the value of the dollar. Investors are now turning their attention to the upcoming Federal Reserve policy meeting for potential clues on the pace of interest rate cuts. The uncertainty surrounding President Trump's policies, including the possibility of higher tariffs, is also making it difficult for gold prices to find direction. Despite potential inflation risks, safe haven demand for gold remains strong.
Every Dhanteras, gold remains a popular choice for Indian investors, despite high prices. Leading banks offer secure options, with certified gold coins available through trusted channels. However, the high premium and limitations on resale may make alternative investments, such as gold ETFs, digital gold, and sovereign gold bonds, more appealing for savvy investors looking for liquidity and flexibility.
As Dhanteras, the auspicious occasion to invest in precious metals, approaches, online shopping platforms like Blinkit offer a range of gold and silver coins from well-known jewelers. With prices varying across cities, here's a quick look at the latest rates and some popular Dhanteras shopping tips for items such as silverware and utensils that symbolize prosperity and abundance.
As the world's third largest consumer of gold, India saw record-high prices for the precious metal on August 04, 2024. Retail gold prices in India reached nearly Rs 70,000 per 10 grams, with 24-carat gold priced at Rs 70,580 per 10 grams. This increase in price can be attributed to high consumer demand and global economic factors. The cost of silver also saw an increase, with its price standing at Rs 85,500 per kilogram.