Yellow Financial News

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finance ministry has directed all state-owned banks to review their gold loan portfolio as instances of non-compliance with regulatory norms have been noticed by the government. The Department of Financial Services (DFS) in a communication addressed to heads of public sector banks has asked them to look at their system and processes related to gold loan. «We have asked banks to undertake comprehensive review of the gold loan business,» Financial Services Secretary Vivek Joshi told PTI. A directive in this regard was issued last month advising them to fix anomalies relating to collection of fees and interest and closure of gold loan accounts.

Track prices here However, they have declined by Rs 879 or 1.3% from their all-time high of Rs 66,356 on fears that the interest rate could remain elevated for longer amid higher-than-expected consumer inflation numbers in the US.

Investing.com-- Gold prices steadied in Asian trade on Wednesday, but were nursing a tumble from record highs after a strong U.S. inflation reading kept fears of higher-for-longer interest rates in play. 

Sure, it glitters less than gold and silver, but copper and copper ETFs could provide upside and diversification for advisors seeking commodity exposure.  

Gold rate today: Gold price on the Multi Commodity Exchange (MCX) is trading flat in the early morning session as investors are awaiting the release of the US CPI data this week. MCX gold rate today opened flat at ₹66,023 and went on to touch an intraday high of ₹66,049 per 10 gm level. However, the precious yellow metal soon came under selling pressure slipped below the ₹66,000 mark, and made an intraday low of ₹65,938 per 10 gm.

Weather today: IMD issues snow, rain alert in THESE states; yellow alert for thunderstorms, lightning in Himachal Moreover, the Met Department has said that the western disturbance is expected to bring rainfall to isolated areas in Sikkim and Arunachal Pradesh. The weather office stated that isolated light rainfall to snowfall over Arunachal Pradesh from the 9th-13th March and scattered light rainfall or snowfall on the 14th and 15th of March.

By Peter Hobson

gold would be laughing their way to the banks with the back-to-back lifetime highs in the yellow metal this week. Its returns in March and 2024 so far have surpassed those of the S&P BSE Sensex. However, Bitcoin (BTC) remained the showstopper with more than 11% weekly returns and 62% in 2024, so far. After a lackluster February, gold has been hitting new lifetime highs in March. The gold contract on MCX scaled a new all-time high of Rs 66,356 per 10 grams on Friday. It has risen by Rs 3,529 or 5.64% so far in March over February and rose by Rs 3,118 or 4.93% in 2024 so far. In the international market, the new lifetime peak was $2,195 per troy ounce on the Comex.

finance ministry ordered state-run banks to review gold loan processes amid fears about risky debt given a rally in prices of the metal, said people familiar with the matter. The worry is that the surge led to lenders giving top-up loans over existing debt, said people familiar with the matter. In a February 27 letter to all PSU bank chiefs, the department of financial services (DFS), part of the finance ministry, has asked banks to review every gold loan account since January 1, 2022, assess the collateral value, analyse collection charges and check if there has been any evergreening. The concern comes amid a 17% rise in gold loans on a year-on-year basis and a 16.6% rally in the yellow metal's prices. Loans against gold jewellery stood at ₹1,01,934 crore as of January 26 and gold prices have touched a high of ₹65,140 per 10 grams on March 5. The finance ministry stated that it had noticed instances of non-compliance regarding the gold loan portfolio and had hence issued the directive.

Investing.com – Gold prices settled at a record high Friday after briefly topping $2,200 for the first ever as growing optimism on major central banks dropping the axe on interest rates in the coming months and ongoing geopolitical tensions in high demand.

By Trevor Hunnicutt

financial literacy is crucial for Indian women to make informed financial decisions. “Top investment assets include equities, mutual funds, and the traditional yellow metal, gold. Owning gold can lead to financial self-sufficiency for a woman.

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Brilliant yellow and gold mustard is carpeting Northern California’s wine country

The world as of today is passing through some turbulent times – and it is this very turbulence that is boosting the prices of gold that have surged to record highs recently.

Investing.com-- Gold prices rose to a record high in Asian trade on Thursday, buoyed chiefly by comments from Federal Reserve Chair Jerome Powell that the central bank will cut interest rates in 2024.

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Bahrain, 1,200 MT to Mauritius and 550 MT to Bhutan through National Cooperative Exports Limited. The government last year, imposed a ban on onion exports till March 31 to meet domestic demand and stabilise its wholesale prices but it allows a specified quantity to be exported to friendly nations. In a separate notification, the Director General of Foreign Trade (DGFT) also amended the timelines and procedures for registration of import of yellow peas under the Import Monitoring System (IMS) for consignments which will arrive at the Indian ports after March 31, 2024.

Mint Primer | India and the Red Sea sharks: crisis without an end? Meanwhile, MCX Gold traded 0.14 per cent lower at ₹64,756 per 10 grams around 11 am. Experts expect gold prices to remain volatile for the session. They advise one should keep the key support and resistance level in mind while trading in the yellow metal today.

Investing.com — The recent surge in the price of gold has captured the attention of investors. As gold closed at record-breaking highs, many are wondering whether it's still a prudent time to invest in the precious metal.