Gold demand by volume fell 25% this Dussehra, reaching 18 tonnes, primarily due to significantly higher prices compared to last year. Despite the volume decline, sales value rose 30-35%. Customers are pre-booking for upcoming festivals, and lightweight jewellery, gold coins, and old gold exchanges sustained sales, showing varied regional trends.
Eyewear giant Lenskart received Sebi approval for its IPO, targeting a mid-November listing. Poised to be India’s largest new-age company public offering this year, it aims to raise Rs 7,500-8,000 crore, including secondary sales. The company reported a significant turnaround, achieving profitability in FY25 with Rs 297 crore net profit. Funds will fuel expansion, including…
GST reduction on 375 items boosted consumer spending. Navratri sales reached a decade high. Government officials cited industry data. Families upgraded vehicles and bought white goods. This turned festive cheer into record consumption. Brands and retailers reported sales growth. This provided a boost for India’s consumption-driven economy. Car bookings also saw an increase.
Maharashtra has launched an electronic bond (e-bond) system for import and export transactions, replacing traditional stamp paper bonds. As the 16th state to adopt this, the move aims to simplify trade procedures, accelerate business operations, and modernize the economy.
Silver prices surged 19.4 percent in September, outperforming gold. Strong industrial demand from solar and technology sectors fueled this rise. A tightening global supply also contributed to the significant increase. Gold prices also climbed 13 percent during the same period. Experts noted silver’s dual role as a key driver. Future industrial demand is expected to…
India’s commerce ministry has recommended anti-dumping duties of 23-30% on solar cell imports from China for three years. This action aims to protect domestic manufacturers from cheap imports, which the DGTR found were sold below normal value, causing injury to local producers. The finance ministry will make the final decision on imposing these duties.
Taylor Swift’s new album, “The Life of a Showgirl,” could offer a surprising boost to the US economy, which is currently facing growth challenges and persistent inflation. Should a mega-tour follow, similar to her last, it could inject billions into consumer spending, potentially aiding the Federal Reserve’s efforts to stabilize the economy and support employment…
RBI Governor Sanjay Malhotra suggested gold prices are now acting as a fresh barometer of global uncertainty, a role previously held by crude oil. He warned of a potential correction in global equity markets, especially tech stocks, citing widespread fiscal stress. This comes as gold continues its upward trajectory, poised for a seventh consecutive weekly…
US stocks continued to climb, nearing record highs, fueled by optimism around artificial intelligence and hopes for easier interest rates. A partial government shutdown delayed the jobs report, yet the AI sector saw significant boosts from new partnerships alongside warnings of a potential bubble and revenue impacts from export restrictions.
The US government shutdown has delayed crucial economic reports, including key employment data, creating significant uncertainty for the world’s largest economy. This data freeze hinders the Federal Reserve’s ability to make informed monetary policy decisions, impacting families nationwide. With hundreds of thousands of federal employees furloughed, concerns are mounting over market stability and economic planning…
