Manoj Jain of Prithvi Finmart expects gold prices to be in an uptrend with likely resistance at Rs 59,400-Rs 59,720 per 10 grams for the April contract on Multi Commodity Exchange of India.
Recognise AT1 bonds as insurance, rather than pure debt. Once AT1 bonds are understood as insurance by a bank that is still a going concern, against a calamitous loss, the expectation that they should be bailed in only after equity is written off would disappear
Spot gold was down 1.4% at $1,950.05 per ounce as of 1107 GMT. U.S. gold futures fell 1.6% to $1,951.20.
Gold prices typically rise when the US dollar and bond yields fall. This year, the US dollar has dropped by 0.60 percent and corrected almost 10.0 percent from last year's peak of 114.78
Debt funds' indexation benefit is only till March 31.
Arbitrage funds have friendlier taxation
Gold futures in the second-biggest consumer jumped to a record 60,455 rupees ($734) per 10 grams last week.
The amendment to the finance bill fails to address the larger issue of varied capital gains tax liability across different assets, creating more confusion
Nikhat Zareen and Lovlina Borgohain made it a golden Sunday for India at the Women's World Boxing Championships in New Delhi. While Nikhat won gold in the 50kg category, Lovlina clinched the top spot in the 75kg category.
Sensex falls 398 pts, Nifty below 17,000; PSU Banks, Metal, Realty down by 2%. Catch all the market highs and lows with Yatin Mota on Moneycontrol.
In a major blow, a proposal to remove long-term tax benefits on debt mutual fund investments was passed in the Parliament as part of amendments to the Finance Bill. This applies to the investments made on or after April 1, 2023. The indexation advantage of debt MFs will be lost. Investments in bonds, gold, and international funds have an indexation advantage. Gains on debt funds, gold funds, and international funds held for more than 3 years are currently taxed at 20% with indexation. Watch Latha Venkatesh and Nandita Khemka discuss the Debt MF Amendment Proposal and its implications.
Impact on Gold : MF Investment to with less than 35% equity investment to be deemed to be STCG. This will apply to investments made after 1st April 2023. Catch the latest in commodities with Manisha Gupta.
The bonds will be listed at BSE and/or NSE. Bonds are redeemable at par in 40 equal instalments and interest payment on quarterly basis, it stated.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, erasing some of the recent gains to be up 1.7% for the week. Japan's Nikkei also slid 0.4%.
Asian currencies rise sharply in comparison with DXY. Korean Won up by 2.3% in comparison with USD. US Fed hikes rates by 25bps, indicates less policy tightening ahead. Catch the latest in commodities with Manisha Gupta.
It is a measure of consistency
The immediate trigger for a move in gold, on either side, will come from the Federal Reserve's monetary policy
Manoj Kumar Jain, Prithvi Finmart Commodity Research suggests buying gold above Rs 58600 with a stop loss of Rs 58380 for target of Rs 59000.
These mid-cap stocks aren’t just favourites with MF and PMS. Aside from being top holding stocks, they’ve also hit their 52-week lows recently. That might well be an opportunity for those who can take on some risks
Check these points before you decide
Gold, known as the ‘safe haven’ of investments, jumped above Rs 60,000 per 10 gm in India, making a record high. Despite banking woes in the US, gold futures gained more than 1.5 percent to Rs 60,299 per 10 grams on March 20. But why are gold prices skyrocketing? Should you buy more gold or sell? What are the support levels for gold? Listen in as Manisha Gupta & Arushi Jain decode in the podcast.
Saumil Gandhi, Senior Analyst (Commodities), HDFC Securities expects gold prices to consolidate in upper range with positive bias before the Fed policy outcome.
Ravindra Rao, CMT, EPAT VP-Head Commodity Research, Kotak Securities Ltd said the western banking crisis upended global markets, taking domestic gold prices to a record high, to above Rs 60,000 per 10 grams.
In volatile trading, Brent crude futures for May fell $2.07, or 2.8%, to $70.90 a barrel at 0950 GMT.
It's a global gold high! Gold Prices are at an all-time high in India, Australia & UK. In the US the gold prices are at an 11-month high. In India Gold is at Rs. 59,500 per 10 grams. Should you sell? Watch Commodities live with Manisha Gupta.