Yellow Financial News

MCX February gold futures were trading at Rs 62,245 at the opening time, up Rs 60 or 0.10% from Tuesday's closing price. Meanwhile, the March Silver futures were trading at Rs 75,403 per kg, higher by Rs 124 or 0.60%.

Cyclone Michaung LIVE Updates: Eight killed as heavy rain batters Chennai; landfall today In an official notification, the office of the collector and district magistrate, Gajapati wrote, “All the primary, upper primary, high school, and anganwadi centre shall remain closed on 6th December 2023". Meanwhile, the Chief Secretaries of Tamil Nadu, Odisha, and Puducherry, along with the Special Chief Secretary of Revenue and Disaster Management in Andhra Pradesh, briefed the committee on the preparatory measures being implemented.

King Kong are teaming up to fight an epic battle in 'Godzilla x Kong: The New Empire', reveals the first trailer of film that was released on Sunday. New Empire, which is a sequel of 2021's Godzilla vs. Kong «follows up the explosive showdown of Godzilla vs.

Bay of Bengal is set to make landfall between Nellore and Machilipatnam, close to Bapatla, in Andhra Pradesh on Tuesday morning. The system was moving in the sea at a speed of 10 kmph and lay centered around 80 km southeast of Nellore, 120 km north-northeast of Chennai, 210 km south of Bapatla and 250 km south-southwest of Machilipatnam at 5.30 pm, the IMD said in its latest bulletin.

Gold price rose to the highest on record at more than Rs 64,000 per 10 gm on Monday, dampening demand as the new wedding season has just begun and raising concerns among people who have marriages planned in their families. The yellow metal touched Rs 64,200 per 10 gm on the Multi Commodity Exchange (MCX) in early morning trade, taking a cue from the international market. Silver, which is termed as a poor man’s gold, also rose to a new high at Rs 78,331 per kg on the MCX.

Puducherry. Cyclone 'Michaung' is expected to hit the west-central Bay of Bengal off south Andhra Pradesh and adjoining north Tamil Nadu coasts by December 4 forenoon, and the National Disaster Response Force (NDRF) has deployed 21 teams for rescue and relief operations, the National Crisis Management Committee (NCMC) informed on Sunday.

Investing.com-- Gold prices surged to a record high in Asian trade on Monday, extending a raft of recent gains as markets bet that the Federal Reserve could begin cutting interest rates by as soon as March 2024, even as central bank officials remained cautious. 

Samsung Galaxy S24 Ultra, asserting the revelation of some exclusive features. According to the report, the flagship model is set to boast a titanium frame, while the base and Plus variants may offer an alternative aluminum armor. Notably, this marks the inaugural inclusion of a titanium chassis in a Samsung smartphone.

Financial markets construed the much awaited Powell's speech Friday as decisively dovish as he did not seem to push hard against the markets' expectations of hefty rate cuts next year. Powell, in his speech at Spelman College, said that the Federal Reserve's monetary policy is in a restrictive territory and it is too early to time the Fed rate cuts. He added that if appropriate, they are ready to hike rates further.

Investing.com-- Gold prices steadied near a seven-month high on Friday, pausing their recent rally amid anticipation of more cues on U.S. interest rates from Federal Reserve Chair Jerome Powell later in the day. 

After testing the key threshold of $2,000 an ounce timidly last week, gold confirmed a break above this major obstacle this week, reaching a high of $2052 on Wednesday, marking its highest level since May.

Also Read: Why silver outshined Nifty 50, gold in November 2023 — explained The projection of gold reaching $2,400 in 2024 is intricately tied to a complex web of economic, geopolitical, and market dynamics. These factors collectively paint a picture of gold as a resilient and sought-after asset, offering stability and value in the face of a myriad of global uncertainties, Kedia Advisory said in a report. Kedia lists out certain key factors that may lead to further rally in the gold prices.

Gold Bond investors, who had made the right decision eight years ago, are elated as the safe haven has ended up delivering a solid tax-free return of 128% besides an annual 2.5% interest. But equity bulls betting on a gold jeweller, with over 844 branches at last count, have managed to outshine even the yellow metal with a fascinating 801% return. No points for guessing that the stock we are talking about is Titan, which runs four jewellery brands — Tanishq, Mia, Zoya and Caratlane.

₹62,602 per 10 gm levels, which is its new peak on the commodity exchange. However, profit taking soon triggered and the yellow metal price touched intraday low of ₹62,431 per 10 gm levels within few minutes of commodity market's opening bell on Wednesday. In international market, spot gold price is oscillating around $2,047 per ounce levels.

NASA has recently released a stunning image of a galaxy known as Messier 64 or the 'Evil Eye.' This distant galaxy is located approximately 17 million light-years away in the constellation 'Coma Berenices'. The image, taken by the NASA Hubble Space Telescope in 2008, showcases a bright yellow nucleus surrounded by dark dust in shades of brown and orange. Clusters of blue and purple dots add to the galaxy's mesmerizing appearance. Discovered in the 18th century by French astronomer Messier, the 'Evil Eye' galaxy earned its name due to the striking dark band of dust that masks its brilliant core. Despite its distance, the galaxy is visible through moderate-sized telescopes with a magnitude of 9.8, capturing the fascination of astronomers and stargazers alike.

Investing.com-- Gold prices rose slightly in Asian trade on Tuesday, sticking to a six-month high amid growing bets that the Federal Reserve will not raise interest rates any further.

Taking cues from the international prices, MCX December gold futures opened in the green and were trading at Rs 61,649 per 10 gram, up by Rs 109 or 0.18% from the Monday closing price. Meanwhile, the December silver futures were trading at Rs 74,795 per kg, lower by Rs 11 or 0.01%. On Comex, gold futures were trading at $2,016.10 per troy ounce on Tuesday, up by $3.70 or 0.18% while Silver futures were trading at $24.655, higher by 0.026 or 0.11%. The dollar index was trading at 103.12 against a basket of top six currencies, down by $0.08 or 0.08% though the bias was negative. The December Gold futures ended at Rs 61,546 on holiday shortened Monday, up by Rs 6 or 0.01% while the December silver futures settled at Rs 74,792, lower by Rs 14 or 0.02%.

United States space agency 'Nasa' has captured the visuals of a galaxy which is 17 million light years away from earth. The agency has termed the galaxy as 'Evil Eye.' The image which is shared by Nasa shows a bright yellow nucleus of a galaxy which is shinning brightly amongst dark dust in brown and orange.

Investors in the first tranche of sovereign gold bonds (SGB), launched in November 2015, have made an annualised return of 10.87%. The Reserve Bank of India (RBI) announced a final redemption price of ₹6,132 per gram of gold when these bonds mature on November 30. In addition to this, investors have also earned an annual interest of 2.5% on these bonds every year and capital gains for those who held these bonds are tax-free. During the same period, the Nifty 50 returned an annualised 12.1%. The first tranche of the SGB was open for subscription from November 5-20, 2015. SGBs were launched by the government as a substitute for physical gold and provided an alternative investment instrument linked to gold. So far, the government has made 68 tranches of these issues since November 2015. An allocation to gold reduces volatility in portfolios and acts as a hedge against rising inflation, and financial planners recommend a 10% allocation to the yellow metal. They argue that allocation to the metal using SGBs is one of the best ways to take exposure to the asset class. SGBs work very well on the tax front as capital gains are tax-free on maturity. By contrast, gains in gold funds or ETFs are taxed at the same rate as an individual's tax slab, which could mean a tax of 30%+ for rich investors. Investors can buy a minimum of 1 gram with a cap of 4 kg in a financial year.

Bank of India (RBI) has tightened norms for consumer credit as it asked banks and NBFCs to assign a higher risk weight for unsecured personal loans. Fintech lenders may face the brunt of RBI's tightening of capital norms for unsecured lending.

Indians have a deep-rooted affinity for Gold. Apart from a medium of wealth storage, it has spiritual and religious connotations for the average Indian. Many people also consider it a reliable anchor when they need immediate liquidity for personal or business purposes. However, rather than liquidating that family heirloom or your favourite piece of jewellery, it’s better to pledge it for a loan to tackle urgent financial requirements. Since Gold is a secure asset with easy liquidity, lenders often provide convenient, cheaper and easily accessible loan solutions, making Gold Loans one of the fastest and most hassle-free options.