Gaurav Bansal

[ad_1] India, the world’s fifth largest economy, also has the seventh highest gold reserves globally. (AI image) Today is Akshaya Tritiya and buying gold is considered auspicious. But did you know that gold is considered a safe haven asset - not just by individuals but also central banks. Which explains why central banks around the world have been increasingly purchasing gold in the last few years amidst ongoing global economic volatility.From the Covid pandemic shock to the Russia-Ukraine war and now the tariff war triggered by the Donald Trump administration, gold prices have been touching new lifetime highs partly driven by central banks of major economies stocking up on gold to fundamentally secure foreign exchange reserves.The Reserve Bank of India (RBI) has been aggressively buying gold for the last few years. In FY 2024-2025, it purchased 57.5 tonnes of gold […]

[ad_1] Gold price outlook (AI image) Gold rate prediction: Buying gold on Akshaya Tritiya is considered auspicious according to Indian traditions. But what’s the outlook for gold and what factors will drive gold prices in the coming days? Praveen Singh, Senior Fundamental Research Analyst- Currencies and Commodities at Mirae Asset Sharekhan shares his views:Gold Performance:On April 29, spot gold swung between $3,299 and $3,349 and was changing hands at $3,322, down around 0.65% on the day, at the time of writing. MCX June contract at Rs 95,640 was down by nearly 0.40%.Notwithstanding disappointing data out of the US, spot gold was slightly lower as US President Trump signed orders to remove tariffs on some auto imports. In addition, investors are still hopeful that US-China trade tension may ease further. Data roundup:US data released Tuesday were disappointing as advance trade balance […]

[ad_1] Top stocks to buy (AI image) Stock market recommendations: According to Mehul Kothari, DVP - Technical Research, Anand Rathi Shares and Stock Brokers, Inox Wind, Symphony and Jyoti CNC are the top stocks to buy today:INOX WIND: BUY in ₹173–₹170 Range | Stop Loss: ₹162 | Target: ₹190Inox Wind recently gave a range breakout and has since been consolidating above its 200 DEMA, reflecting underlying strength. The breakout was accompanied by strong volumes, indicating active accumulation.Momentum oscillators are also positively placed, aligning well with the price action. Traders are advised to buy Inox Wind in the ₹173–₹170 range, keeping a stop-loss at ₹162, and targeting ₹190 in the near term.SYMPHONY: BUY in ₹1184–₹1180 Range | Stop Loss: ₹1140 | Target: ₹1260Symphony witnessed a sharp decline recently, but has shown a strong recovery from lower levels. A reversal is already […]

[ad_1] File photo: US President Donald Trump (Picture credit: AP) US President Donald Trump is set to ease the impact of automotive tariffs, a move designed to support US carmakers by removing overlapping import duties on parts used in domestically assembled vehicles and reimbursing levies already paid, according to the news agency Reuters.The decision, which will be officially announced during Trump’s Tuesday visit to Michigan, comes amid growing concern from the auto industry over the economic fallout of sweeping tariffs. According to CNN, the revised structure will ensure that cars built in the US using imported components are not hit by cumulative duties, such as those on steel and aluminium, in addition to the 25 per cent auto tariff.“This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers […]

[ad_1] File photo: Maharashtra CM Devendra Fadnavis (Picture credit: PTI) NEW DELHI: The much-awaited Mumbai-Ahmedabad bullet train project will be ready for operations by 2028, Maharashtra chief minister Devendra Fadnavis announced on Monday, while also revealing that the state aims to raise $50 billion from international investors to accelerate infrastructure development.“By 2028, we will be able to travel in the bullet train,” Fadnavis said while speaking at an event on the India-Middle East Europe Economic Corridor (IMEEC) project. He acknowledged that Gujarat has made faster progress on the project and attributed delays in Maharashtra to the previous state government.Without naming Shiv Sena (UBT) chief Uddhav Thackeray, Fadnavis said the project had suffered during the two-year rule until 2022. “After the new government came to power, we gave necessary approvals and work started rapidly,” he added.The Mumbai-Ahmedabad high-speed rail corridor is […]

[ad_1] Gold demand in India is showing no signs of slowing down, even after prices surpassed the record high of Rs 1 lakh per 10 grams, with Akshaya Tritiya just around the corner. The auspicious day, associated with prosperity, sees many people purchasing gold and silver as symbols of wealth and good fortune.Why does gold continue to attract buyers despite sky-high prices?The yellow metal continues to lure customers, thanks to its impressive returns over the past two years. Experts attribute the surge in consumer interest to a growing preference for lightweight designs and studded jewellery.Rajesh Rokde, chairman of the Gem and Jewellery Council of India (GJC), said gold has provided consistent returns of 20–25% annually over the last two years, boosting consumer confidence.“Last year, on Akshaya Tritiya, the gold price was Rs 72,000 per 10 gm, and in 2023 it […]

[ad_1] Representative AI image (Credit: Bing image creator) The US administration announced plans to implement measures by Tuesday to reduce the impact of automotive import tariffs, allowing manufacturers additional time to shift production to US soil.While the 25 per cent tariffs on imported vehicles and components will continue, they will be restructured to prevent overlap with other tariffs, including those on steel and aluminium, according to a White House representative, quoted by the New york Times.Vehicle manufacturers will be exempt from paying multiple tariffs on these essential materials.Manufacturers will receive partial compensation for tariffs paid on imported components. The reimbursement scheme will provide up to 3.75 per cent of a new vehicle's value in the first year, gradually decreasing over two years, as confirmed by the spokesperson.The automotive industry responded positively to these changes. "We believe the president's leadership is […]

[ad_1] This is an AI generated image (credit: Bing image creator) US stocks trading in green on Tuesday, with the Dow Jones Industrial Average inching up by 292.3 points, or 0.73%, to 40,519.95. Following a similar suite, the Nasdaq Composite ssoared 53.93 points, or 0.31%, to 17,420.07, while the S&P 500 increased by 21.48 points, or 0.39%, to 5,550.23, at 12.13 am EDT.Wall Street opened mixed but all three major indices were higher in midday trading.Wall Street wavered as rising corporate profits were offset by ongoing uncertainty surrounding President Trump's trade war. UPS, the world’s largest package delivery firm, swaying between gains and losses after posting stronger-than-expected earnings for the first quarter of 2025. As a global shipper, UPS is often seen as a predicter for the health of the world economy.Investor worries continue as fears grow that US President […]

[ad_1] AI-generated image (Credit: Bing image creator) Job openings in the United States declined in March, reflecting growing economic uncertainty tied to President Trump’s trade policies. Trump had announced implementation of import tariffs in march to be effective from April but just days later, announced a 90-day pause on all countries except China. According to Tuesday’s report from the US Labor Department, employers advertised 7.2 million positions in March — down from 7.5 million in February and 8.1 million in March 2024. The figure fell short of economists’ expectations of 7.5 million and marked the lowest level since September. The Job Openings and Labor Turnover Summary (JOLTS) report also noted a slight uptick in voluntary resignations, a sign that workers remain confident in the labor market. Redundancies fell to their lowest point since June, further suggesting resilience in hiring. While […]