MCX’s spectacular rally, pushing the stock past the Rs 10,000 mark for the first time on Wednesday, has turned its largest shareholder — Kotak Mahindra Bank, into one of the biggest gainers. The bank’s 15% stake, now valued at Rs 7,887.27 crore, has surged 1,618% ( nearly 17X ) over the past 11 years. Billionaire…
Gold and silver prices fell in early trade on Monday, November 17, as investors booked profits following a sharp global rally this year and hawkish comments from the U.S. Federal Reserve officials, which tempered expectations of a December rate cut. On the Multi Commodity Exchange (MCX), gold futures for December delivery slipped by Rs 420…
Gold and silver prices have started moving northwards after a fortnight. The yellow metal, which went down to Rs 1.18 lakh per 10 gm on October 28, has gone up by Rs 4,000 per 10 gm to touch Rs 1.22 lakh per 10 gm on Monday. Silver too followed gold and appreciated to Rs 1.50…
Gold prices opened lower on Friday, with the December futures contract on MCX slipping Rs 305 or 0.25% to Rs 1,21,203 per 10 grams. This comes after bullion posted a 4.5% gain so far this month, but traders are now recalibrating expectations for a December rate cut following recent hawkish remarks from US Federal Reserve…
Gold’s remarkable rally shows no signs of slowing as the festive season approaches, with many analysts expected the prices to hit Rs 1.3 lakh per 10 grams this festive season. Rising global economic uncertainty, steady central bank purchases and expectations of interest rate cuts are driving the demand. If the trend continues, gold could climb…
Gold touched a new lifetime high on Wednesday, October 8, crossing the $4,000 per ounce mark in global trade for the first time. The rally came on the back of rising uncertainty in world markets and growing bets that the US Federal Reserve could begin cutting interest rates before the end of the year. In…