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Time of India
5 days ago
- Business
- Time of India
Gold prices slip from 5-week high to trade below Rs 1 lakh on US-Japan trade deal. More downside in sight?
Gold and silver settled on a weaker note in the domestic and international markets in the previous session. Gold prices slipped below the Rs 1 lakh mark as August MCX futures fell amid easing safe-haven demand following the US-Japan trade deal. Silver also edged lower. Analysts expect continued volatility, though key support levels may hold amid global uncertainty and upcoming central bank policy decisions. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Gold has support at Rs 99,000-98,500 and resistance at Rs 99,850-1,00,100 Silver has support at Rs 1,14,750-1,14,000 and resistance at Rs 1,16,600-1,18,000 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Tired of too many ads? Remove Ads Gold Price today in Chennai Gold Price today in Hyderabad Slipping from their 5-week high and below the Rs 1 lakh mark, gold August futures contracts on MCX were trading at Rs 98,944/10 grams, down by Rs 473 or 0.48% as safe haven buying witnessed a drop amid the US-Japan trade deal silver September futures contracts were also trading slightly lower by Rs 288 or 0.25% at Rs 1,15,346/ Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Gold August futures contract settled at Rs 99,417 per 10 grams with a loss of 0.91% and silver September futures contract settled at Rs 1,15,634 per kilogram with a loss of 0.02%.Gold and silver showed very high price volatility and gained in the early trading session, but slipped from their highs amid easing safe-haven buying after the US-Japan trade agreement. The U.S. and Japan have entered into a trade agreement in which the U.S. reduced import tariffs on Japanese goods from a hefty 25% to 15%.'Bullion markets reacted negatively to that, and the market is also expecting that the U.S. could also settle trade disputes with other nations prior to the deadline on 1st August,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Gold prices slipped from 5-week highs, and silver prices also plunged from nearly 14-year highs. However, a weak dollar index and dovish comments from the FOMC members are supporting precious US Dollar Index, DXY, was hovering near the 97.26 mark, gaining 0.04 or 0.04% on Thursday.'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets and ahead of the ECB monetary policy meetings, but gold prices could hold their support level of $3,280 per troy ounce and silver prices could also hold $36.40 per troy ounce levels on a weekly closing basis,' he Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,15,000-1,14,400 with a stop loss of Rs 1,13,300 for a target of Rs 1,16,200-1,17, gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,032/8 gold (22 carat) prices in Mumbai stand at Rs 57,504/8 grams while pure gold (24 carat) prices stand at Rs 61,312/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,680/8 gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,664/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Economic Times
5 days ago
- Business
- Economic Times
Gold prices slip from 5-week high to trade below Rs 1 lakh on US-Japan trade deal. More downside in sight?
Live Events How to trade gold? Gold has support at Rs 99,000-98,500 and resistance at Rs 99,850-1,00,100 Silver has support at Rs 1,14,750-1,14,000 and resistance at Rs 1,16,600-1,18,000 Gold rates in physical markets Gold Price today in Delhi Gold Price today in Mumbai Gold Price today in Chennai Gold Price today in Hyderabad (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Slipping from their 5-week high and below the Rs 1 lakh mark, gold August futures contracts on MCX were trading at Rs 98,944/10 grams, down by Rs 473 or 0.48% as safe haven buying witnessed a drop amid the US-Japan trade deal silver September futures contracts were also trading slightly lower by Rs 288 or 0.25% at Rs 1,15,346/ Wednesday, gold and silver settled on a weaker note in the domestic and international markets. Gold August futures contract settled at Rs 99,417 per 10 grams with a loss of 0.91% and silver September futures contract settled at Rs 1,15,634 per kilogram with a loss of 0.02%.Gold and silver showed very high price volatility and gained in the early trading session, but slipped from their highs amid easing safe-haven buying after the US-Japan trade agreement. The U.S. and Japan have entered into a trade agreement in which the U.S. reduced import tariffs on Japanese goods from a hefty 25% to 15%.'Bullion markets reacted negatively to that, and the market is also expecting that the U.S. could also settle trade disputes with other nations prior to the deadline on 1st August,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. Gold prices slipped from 5-week highs, and silver prices also plunged from nearly 14-year highs. However, a weak dollar index and dovish comments from the FOMC members are supporting precious US Dollar Index, DXY, was hovering near the 97.26 mark, gaining 0.04 or 0.04% on Thursday.'We expect gold and silver prices to remain volatile this week amid volatility in the global financial markets and ahead of the ECB monetary policy meetings, but gold prices could hold their support level of $3,280 per troy ounce and silver prices could also hold $36.40 per troy ounce levels on a weekly closing basis,' he Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver on dips around Rs 1,15,000-1,14,400 with a stop loss of Rs 1,13,300 for a target of Rs 1,16,200-1,17, gold (22 carat) prices in Delhi stand at Rs 58,144/8 grams while pure gold (24 carat) prices stand at Rs 62,032/8 gold (22 carat) prices in Mumbai stand at Rs 57,504/8 grams while pure gold (24 carat) prices stand at Rs 61,312/8 gold (22 carat) prices in Chennai stand at Rs 56,928/8 grams while pure gold (24 carat) prices stand at Rs 60,680/8 gold (22 carat) prices in Hyderabad stand at Rs 56,904/8 grams while pure gold (24 carat) prices stand at Rs 60,664/8 grams.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
10-06-2025
- Business
- Time of India
Gold Price Prediction: Yellow metal tumbles Rs 2,800/10 gms amid US-China trade uncertainty. How to trade
Gold June futures at MCX opened lower by Rs 723 at Rs 96,397/10 grams. Silver July futures also dipped by Rs 563 to Rs 1,06,524/kg after reaching an all-time high. Despite settling positively on Monday, both metals experienced volatility due to ongoing US-China trade talks and a weaker dollar. Analysts expect continued fluctuations this week Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Gold has support at Rs 96,600-96,180 and resistance at Rs 97,700-98,200 Silver has support at Rs 1,06,000-1,04,800 and resistance at Rs 1,08,000-1,09,400 Operating under pressure, Gold June futures contracts at MCX opened lower by Rs 723 or 0.74% at Rs 96,397/10 grams after ending on a positive note in the previous prices of the yellow metal have now fallen by Rs 2,800/10 grams, from its recent high of Rs 99,214/10 grams. Meanwhile, silver July futures contracts, opened slightly lower by Rs 563 or 0.53% at Rs 1,06,524/kg, after hitting a new all-time high of Rs 1,07,171/ Monday, gold and silver settled on a positive note in the domestic and international markets. Gold August futures contract settled at Rs 97,173 per 10 grams with a gain of 0.14%, and silver July futures contract settled at Rs 1,07,087 per kilogram with a gain of 1.54%.Gold and silver prices showed high volatility at the start of a new week. Gold prices plunged in the early trading session amid talks resuming between the US and China in London to cement a trade deal between the two largest economies, but prices rose off day's low amid weakness in the dollar index and US bond prices also reversed after the Chinese central bank turned into a net buyer of gold for the seventh consecutive month in May.'Investors are also looking cautious and betting for a safe-haven bid in gold amid uncertainty on the final trade deal between US-China,' noted Manoj Kumar Jain of Prithvifinmart Commodity prices remain at their 13-year highs amid a weaker dollar and strength in other industrial the US Dollar Index , DXY, was hovering near the 99.15 mark, gaining 0.20 or 0.20%.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index, geo-political tensions and ahead of the U.S. inflation data; gold prices could hold its support level of $3,240 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' he Kumar Jain suggested the following ranges for gold and silver on MCX:Jain suggests buying silver around Rs 1,06,500-1,06,000 with a stop loss of Rs 1,04,800 for the target of Rs 1,07,700-1,08, Rahul Kalantri, VP Commodities of Mehta Equities, noted that gold has support at Rs 96,720-96,390 while resistance is at Rs 97,350-97,640. Silver has support at Rs 1,06,160-1,05,250 while resistance is at Rs 1,08,750-1,09,650.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Time of India
09-06-2025
- Business
- Time of India
JM Financial maintains Buy on PNC Infratech, lowers target price to Rs 450
JM Financial maintains Buy on PNC Infratech with a revised target price of Rs 450 (Rs 470 earlier). The current market price of PNC Infratech is Rs 300.15. The time period given by the analyst is a year when PNC Infratech price can reach the defined target. PNC Infratech, incorporated in 1999, is a Mid Cap company with a market cap of Rs 7651.28 crore, operating in infrastructure sector. PNC Infratech's key products/revenue segments include Contract Revenue, Material for the year ending 31-Mar-2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas In Dubai | Search Ads Get Rates Undo Financials For the quarter ended 31-03-2025, the company has reported Consolidated Total Income of Rs 1766.63 crore, up 16.83% from last quarter Total Income of Rs 1512.19 crore and down -32.68% from last year same quarter Total Income of Rs 2624.15 crore. The company has reported net profit after tax of Rs 75.44 crore in the latest quarter. The company's top management includes Kumar Jain, Kumar Gupta, Mittal, Chander Kalia, Kumar Jalan, Raghupati Rao, Kumar Rao, Kumar Jain, Kumar Jain, Shankar. Company has NSBP & Co. as its auditors. As on 31-03-2025, the company has a total of 26 crore shares outstanding. Live Events Investment Rationale JM Financial likes PNC Infratech for its track record of delivering robust growth while preserving balance sheet. Monetization proceeds in FY26E provide significant growth capital and places PNC as major beneficiary of expected pick-up in ordering activity. Given the delay in receipt of appointed dates, the brokerage has lowered revenue leading to EPS cut of 4%/3% in FY26/27E. Having said that, they expect robust EPS CAGR of 43% over FY25-27E. Valuations at 11x/9.5x FY26/27E EPS remain attractive. JM Financial values EPC business at 13x FY27 EPS and assets at Rs 59/share to arrive at SOTP based revised price target of Rs 450 (earlier Rs 470). Maintain Buy. Promoter/FII Holdings Promoters held 56.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 7.1 per cent, DIIs 26.26 per cent.
Time of India
30-05-2025
- Business
- Time of India
ICICI Securities downgrades Gujarat Fluorochemicals to Hold, revises target price to Rs 3,790
ICICI Securities has downgraded Gujarat Fluorochemicals to Hold from Buy earlier, with a revised target price of Rs 3,790 (earlier Rs 4,160). The current market price of Gujarat Fluorochemicals is Rs 3821.4. Gujarat Fluorochemicals, incorporated in 2018, is a Mid Cap company with a market cap of Rs 42064.86 crore, operating in the chemicals sector. Gujarat Fluorochemicals' key products/revenue segments include Fluorochemicals, Bulk Drugs & Chemicals, Export Incentives, Other Operating Revenue, Scrap, Carbon Credit for the year ending 31-Mar-2024. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Thon An Quynh: Unsold Furniture Liquidation 2024 (Prices May Surprise You) Unsold Furniture | Search Ads Learn More Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 1251 crore, up 7.66% from last quarter Total Income of Rs 1162 crore and up 8.66% from last year same quarter Total Income of Rs 1151.32 crore. The company has reported net profit after tax of Rs 191.00 crore in the latest quarter. The company's top management includes Kumar Jain, Prakash Jain, Prakash Lohia, Swarup, Prashad Jain, Agnihotri, Kumar Muppirala, Kapoor, Kumar Jain, Bhargava. Company has Patankar & Associates as its auditors. As on 31-03-2025, the company has a total of 11 crore shares outstanding. Live Events Investment Rationale Gujarat Fluorochemicals' Q4FY25 print was impacted by lower sales of bulk chemicals with production disrupted for 20 days due to incident in Dahej. It expects fluoropolymers revenue to grow 25% in FY26 with higher volume in new fluoropolymers, and steady rise in PTFE volume. R-32 capacity commissioning has been expedited, and may now start in H2FY26, therefore, supporting fluorochemicals. GFL remains confident of approvals, and contracts in battery chemicals for LiPF6 salt, and binders immediately with potential billing to commence in H2FY26. ICICI Securities cut the EPS for FY26/27E by 3-9% and reduced target price to Rs 3,790 (from Rs 4,160), valuing the stock at FY28E P/E multiple of 30x (unchanged); downgrade to HOLD (from Buy). Promoter/FII Holdings Promoters held 62.58 per cent stake in the company as of 31-Mar-2025, while FIIs owned 4.63 per cent, DIIs 10.7 per cent.
