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STOCKS IN ACTION 2 March Zee Entertainment Enterprise: A Delhi court has ordered Bloomberg to take down an article that alleged corporate governance issues at the company and reported that the market regulator has found a $241 million accounting issue at the company. One 97 Communications: The Financial Intelligence Unit of India has imposed a penalty of Rs 5.49 crore on Paytm Payments Bank for violations of the bank’s obligations under the Prevention of Money Laundering Act, 2002. Jio Financial Services: The Bombay Stock Exchange announced its periodic reconstitution of S&P BSE Indices on Thursday, with Jio Financial Services being the only addition to the S&P BSE Large Cap. Axis Bank: The company approved the raising of Rs 4,000 crore via long-term bonds, non-convertible debentures, and other debt instruments. The fundraise will have a base issue size of Rs 1,000 crore and a green shoe option of Rs 3,000 crore. Asian Paints: The company will set up a new water-based paint manufacturing facility in Madhya Pradesh with a capacity of 4 lakhs KL per annum. The approximate investment for the facility is Rs 2,000 crore. Torrent Power: The company received a Rs 2,700 crore order from Railway Energy Management for installing about 325 MW of renewable capacity. The company received a letter of award from NTPC Vidyut Vyapar Nigam to supply power from a a gas-based power project. Info Edge: Google removes Info Edge’s job search app Naukri and property search app 99acres from Play Store enforcement action. Tanla Platforms, Vodafone Idea: Tanla Platforms has signed a definitive Memorandum of Understanding with Vodafone Idea Business Services Ltd. to deploy ‘Messaging as a platform’ in India. Cipla: The U.S. FDA conducted a pre-approval inspection at the manufacturing facility in China from Feb. 26 to March 1 and concluded with zero Form 483 observations. PVR Inox: The company opened a 4-screen multiplex in Patna and a 14-screen multiplex in Pune. Larsen and Turbo: The company’s arm has transferred the remaining 25% stake in step-down unit IIML to Allianz Infrastructure Luxembourg on Feb. 29. Maruti Suzuki India: The company reported total production volume at 1.78 lakh units vs. 1.59 lakh units year-on-year for the month of February. Hero MotoCorp: The company reported total sales at 4.68 lakh units vs. 3.94 lakh units year-on-year and total exports at 23,153 units vs. 12,143 units. Welspun Corp.: The company’s unit proposed to set up a manufacturing facility for plastic pipes and water storage tanks in Madhya Pradesh for an investment of Rs 400 crore. Rainbow Children Hospital: The company has inaugurated a new 80-bed hospital in Tamil Nadu. After this, the total bed capacity of the company will increase to 1,885 beds. The total project cost is Rs 60 crore. Lemon Tree: The company signed a franchise agreement for an upcoming hotel in Udaipur, Rajasthan, under its brand, ‘Keys Lite’. PFC: The company incorporated Bhuj II Transmission for the development of ‘Augmentation of Transformation Capacity at Bhuj-11 PS and Angul Sundargarh Transmission for the development of ‘Eastern Region Transmission Limited Generation Scheme-l’. FSN E-Commerce Ventures: The company expands its global footprint with the launch of Nysaa, the first ever beauty retail store in Dubai, in collaboration with Apparel Group. S H Kelkar and Company: The company incorporated a wholly owned subsidiary in New Jersey, USA. Angel One: The company collaborated with a group of seasoned wealth managers to lead its tech-led omnichannel wealth management business. Ganesha Ecosp The company announced the start of commercial operations at its subsidiary’s production lines for recycled polyester staple fibre and PET chips in Telangana. Harsha Engineers: The company has terminated HASPL Americas Corp., a wholly owned subsidiary of the company, in accordance with applicable laws as per a certificate issued by the state corporation commission
Tue. Mar 5th, 2024

Anticipated Interest Rate Cuts Propel Gold Prices: Analysts Predict Bullish Trend

By earn Jan 1, 2024
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The global gold market is gearing up for a potentially bullish trend in the coming year, driven by significant factors such as expected interest rate cuts by both the US Federal Reserve and the Reserve Bank of India. Analysts anticipate that these developments will influence domestic gold prices on MCX, with predictions of surpassing the Rs 70,000 per 10 grams mark.

Key Factors Boosting Gold Prices:

  1. Anticipated Interest Rate Cuts:

    • The expected interest rate cuts by major central banks, including the US Federal Reserve and the Reserve Bank of India, are identified as major catalysts for the surge in gold prices. Lower interest rates typically make non-interest-bearing assets like gold more attractive to investors.
  2. US Federal Reserve’s Monetary Policy:

    • The US Federal Reserve’s indication of potential interest rate cuts is a response to economic conditions and inflation concerns. As gold is often considered a hedge against inflation, this move is contributing to the positive sentiment in the gold market.
  3. Reserve Bank of India’s Policy Measures:

    • The Reserve Bank of India is also expected to adopt accommodative monetary policies, which could lead to lower interest rates. This, in turn, is likely to enhance the appeal of gold in the Indian market, a significant consumer of the precious metal.
  4. MCX Gold Prices Projections:

    • Analysts are forecasting that gold prices on the Multi Commodity Exchange (MCX) may experience a notable uptrend, potentially crossing the Rs 70,000 per 10 grams level. This optimistic outlook is attracting attention from investors looking for alternative safe-haven assets.
  5. Balanced Asset Allocation Strategy:

    • Against the backdrop of an optimistic outlook for equity markets in the coming year, financial experts are recommending a balanced asset allocation strategy. Gold, often considered a safe-haven asset, can play a crucial role in diversifying investment portfolios and managing risk.

Closing Thoughts:

As the new year unfolds, the dynamics of the gold market are closely tied to central bank policies and global economic conditions. Investors are keeping a keen eye on the expected interest rate cuts, and the potential surge in gold prices underscores the metal’s role as a valuable component in a diversified investment portfolio. A balanced approach to asset allocation, considering both equities and precious metals, emerges as a prudent strategy amid the evolving market conditions.

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