Gold prices fall for 2nd day, down ₹9000 from peak; silver up
Premium
2 min read
Share Via
Read Full Story
Gold prices declined in Indian markets for second day despite positive global cues. On MCX, gold futures were down 0.1% to ₹46,762 per 10 gram while silver rose 0.21% to ₹69,490 per kg. In the previous session, gold had inched 0.22% lower while silver fell 1.5%. Gold has been under pressure this year on fears that prospects of a faster economic recovery will ignite inflation and lead to rising lending rates, especially in the US, where Congress is moving forward on a $1.9 billion stimulus plan. In August, gold had hit a record high of ₹56,200 and has been under pressure since then.
Oil prices to rise to $100? Rumblings are starting to emerge
livemint.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from livemint.com Daily Mail and Mail on Sunday newspapers.
what to buy: Jinesh Gopani on what your post-Covid portfolio should look like
indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Seen shift towards organised from unorganised players
Need to be cautious of Black Swan events
The Nifty posted its highest-ever quarterly earnings per share at Rs 164.4 and beat estimates for the 2nd straight quarter. The earnings season has been better than estimates said Jinesh Gopani, Head – Equity at Axis Mutual Fund. He believes the market will be driven by money flow and improving fundamentals of the Indian economy going forward.
In an interview with ET Now he said financials, infrastructure proxies and IT internet platform companies look good from a 2-year point of view. However, he cautioned against black swan events. A dramatic rise in US 10 year yield would rattle the equity markets, he added.