Latest news with #Kalantri
Time of India
5 hours ago
- Business
- Time of India
Gold-silver rate today: Gold drops below Rs 1 lakh to Rs 99,960 per 10g; silver plunges Rs 2,000/kg as global investors cut bullion bets
Gold-silver rate today: Gold prices slipped below the Rs 1 lakh-mark, falling Rs 600 to Rs 99,960 per 10 grams in the national capital on Friday due to selling by jewellers and stockists in line with weak global cues, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 1,00,560 per 10 grams in the previous market session. Gold of 99.5 per cent purity dipped Rs 550 to Rs 99,250 per 10 grams (inclusive of all taxes), compared to Rs 99,800 per 10 grams on Thursday. Silver prices also diminished by Rs 2,000 to Rs 1,05,200 per kilogram (inclusive of all taxes) on Friday. It had ended at Rs 1,07,200 per kg on Thursday. "Silver slid from recent highs, nearing one-week lows and heading for their first weekly decline in three weeks. It fell below $35.70 per ounce after a sharp rally earlier in the week," said Rahul Kalantri, Vice-President, Commodities at Mehta Equities. The decline came as investors liquidated positions in bullion to cover losses elsewhere amid rising geopolitical tensions between Israel and Iran. The Bank of England, in its monetary policy meeting on Thursday, also held rates steady, which limited the gains of precious metals. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Što je to umjetna inteligencija o kojoj svi pričaju? Courses AI Undo Kalantri added that intensifying conflict between Israel and Iran and weakness in the rupee are also supporting prices of gold and silver in domestic markets. On the global market, spot gold was trading at $3,353.67, lower by $16.72 per ounce, or 0.5 per cent. Spot silver fell 0.77 per cent to $36.10 per ounce in overseas markets. 'Traders will watch developments on US trade tariffs and Middle East military engagement will drive volatility. Any signs of de-escalation or non-involvement from the US in the Iran-Israel conflict could keep gold under pressure. On the other side, renewed tensions will continue to support prices,' said Jateen Trivedi, VP Research Analyst – Commodity and Currency, LKP Securities. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
News18
11 hours ago
- Business
- News18
Crude Oil Down 2% On Uncertainty Over US Role In Israel-Iran Tensions
Last Updated: Oil prices dipped on Friday as traders awaited the U.S. decision on involvement in the Israel-Iran conflict Crude Oil Prices: Oil prices softened on Friday as traders awaited a decision from the United States regarding its potential involvement in the ongoing Israel-Iran conflict. At 11:08 am, the Brent August contract on the Intercontinental Exchange was trading at $77.20 per barrel, over 2% lower than its previous close. White House Press Secretary Karoline Leavitt, quoting US President Donald Trump, said: 'Based on the fact that there's a substantial chance of negotiations that may or may not take place with Iran in the near future, I will make my decision whether or not to go within the next two weeks." This statement is being viewed as a pressure tactic to nudge Iran toward negotiations. Market watchers pointed out that Trump has employed similar two-week deadlines for major decisions in the past, many of which passed without any significant action. As a result, crude oil prices tend to remain elevated during such periods of strategic ambiguity. Meanwhile, Iran has issued a warning against any US intervention, stating that such a move would trigger further escalation in West Asia — a region critical to global crude oil supply. Iran, a key member of the OPEC (Organization of the Petroleum Exporting Countries), is the third-largest oil producer within the bloc, producing around 3.3 million barrels of crude oil per day. Media reports indicated that the country continues to export crude oil, with current weekly loadings at around 2.2 million barrels per day. 'Crude oil remains highly volatile, with prices reacting sharply to developments and statements related to the Israel-Iran conflict," said Rahul Kalantri, Vice President for Commodities at Mehta Equities. 'Yesterday, we saw a sharp jump in crude oil prices… but this morning we are seeing a dip after the White House stated that President Trump will decide on Iran in two weeks, calming immediate fears of escalation." Despite the temporary pullback, Kalantri noted that crude is poised for a third consecutive weekly gain. Supply Disruptions Still a Concern 'The markets remain jittery as risks of supply disruptions from Iran and broader conflict escalation loom large. Geopolitical tensions and supply fears continue to support oil prices despite temporary pullbacks," Kalantri added. Sriram Iyer, Senior Research Analyst at Reliance Securities, echoed a similar sentiment, highlighting that intensifying hostilities in West Asia continue to fuel fears of regional supply disruptions, potentially limiting any sharp downside in oil prices. As of Wednesday, the Indian crude oil basket — the average price at which Indian refiners import crude — stood at $75.91 per barrel. The average price for June so far is $68.58 per barrel, up from $64.04 in May. About the Author Location : New Delhi, India, India First Published: June 20, 2025, 12:16 IST News business » economy Crude Oil Down 2% On Uncertainty Over US Role In Israel-Iran Tensions
Time of India
3 days ago
- Business
- Time of India
Brace for $100 Oil? Brent jumps from $65 to $75 as 20% of global crude flows face threat through Iran's Strait of Hormuz
New Delhi: As tensions escalate between Iran and Israel, crude oil prices have surged nearly 15 per cent in just weeks, prompting New Delhi to take stock of India's energy security. Brent crude touched $75 a barrel—up from around $65 before the conflict—fuelled by fears of disruption through the Strait of Hormuz , the world's most critical oil artery. India's Ministry of Petroleum and Natural Gas has swung into action, with top officials and PSU oil firms holding a high-level review meeting to assess the situation. A senior ministry official, speaking on condition of anonymity, said, 'There is no immediate threat to India's oil supplies, but the global market is on edge. We are watching developments closely and will act to safeguard consumer interest and macroeconomic stability.' Strait of Hormuz at centre of global oil anxiety The Strait of Hormuz, controlled by Iran, sees nearly 17 million barrels per day—about 20 per cent of global oil trade—flow through its narrow waters. Experts warn that any escalation in the conflict could lead to shipping blockades or strikes on key energy infrastructure. Rahul Kalantri, Vice President of Commodities at Mehta Equities, said, 'Iran could threaten or block shipping in the Strait—causing major supply chain disruptions. Any military escalation or disruption in shipping or output could lead to a 10–20 per cent jump in crude prices.' Prashant Vasisht, Senior Vice President and Co-Group Head, Corporate Ratings at ICRA, noted, 'As Iran straddles the Strait of Hormuz and its production is about 3 million barrels per day, targeted attacks on oil infrastructure can cause disruptions. Crude oil prices have already risen from ~$65/bbl to ~$75/bbl. Further impact will depend on how the situation unfolds.' Will Indian fuel supplies be hit? Although India has stopped importing crude from Iran due to sanctions, any disruption in Middle East shipping routes could still impact domestic fuel supplies. India sources over 85 per cent of its crude oil from overseas, largely from the Gulf. 'If the Strait is disrupted, even non-Iranian crude flows could be affected, tightening supply. Even if India shifts to suppliers like Russia, the US or West Africa, freight and logistics costs will rise,' Kalantri added. Impact on domestic fuel prices and industry A sustained spike in international crude prices could eventually lead to higher petrol and diesel rates in India. However, analysts believe that the government is likely to absorb near-term shocks without immediately passing the burden onto consumers. Vasisht said, 'If oil prices remain elevated, it could impact inflation and make petroleum products more expensive for consumers.' Kalantri added, 'We don't believe that the government is likely to immediately transfer this burden to end consumers, but key industries could face margin pressures.' India's contingency preparedness Union Petroleum Minister Hardeep Singh Puri said on June 16 that India is 'comfortably placed' to meet its fuel needs despite global volatility. Reviewing the situation with top officials, he posted on X: 'As oil is on the boil, all eyes are on the ball… In the increasingly volatile geopolitical situation, reviewed the petroleum products supply situation with petroleum ministry officials and our PSU OMCs.' He added, 'Under the visionary leadership of PM Modi, we have diversified our import basket substantially and are comfortably placed to meet our fuel supply needs.' India's bilateral exposure and trade ties India exports goods worth $1.24 billion to Iran and imports $441.9 million. With Israel, exports total $2.15 billion while imports stand at $1.61 billion. The growing instability in the region not only threatens energy but broader trade flows. Looking ahead: Strategic reserves, market signals Global oil traders are already hedging for more volatility. Brent call options for $100 a barrel in August are trading in record volumes. Meanwhile, the US strategic petroleum reserve has inched up to 402 million barrels, but commercial stockpiles are trending downward. 'Oil markets are entering a high-alert phase. Even if no direct supply cut occurs, risk premiums alone can drive volatility,' said Kalantri.
Time of India
5 days ago
- Business
- Time of India
Gold hits fresh record high of Rs 1.01 lakh/10 gms; analysts see more upside ahead
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads How to trade gold? Gold has support at Rs 99,650-99,100 and resistance at Rs 1,01,100-1,01,800 Silver has support at Rs 1,05,800-1,05,000 and resistance at Rs 1,07,200-1,08,000 Tired of too many ads? Remove Ads 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 Amid pressure on global equities and a surge in crude oil prices, gold found strong support, climbing to a new all-time high of Rs 1,01,078 per 10 grams on the MCX (August futures), after closing above the Rs 1 lakh mark for the first time on July futures also remained near their recent highs, opening flat at Rs 1,06,464 per kg Friday, gold and silver settled on a positive note in the domestic and international markets. Gold August futures contract settled at Rs 1,00,276 per 10 grams with a gain of 1.91% and silver July futures contract settled at Rs 1,06,493 per kilogram with a gain of 0.57%.Gold and silver prices gained last week amid safe-haven buying due to the Israel-Iran war and weakness in the dollar index. Global equity markets plunged, and crude oil prices surged, and also supported the prices of precious metals.'Geopolitical tensions are driving gold and silver prices due to safe-haven bid,' said Manoj Kumar Jain of Prithvifinmart Commodity Research. He added that gold prices closed above $3,450 per troy ounce and could test its previous lifetime high once again in the international markets, and silver prices could also follow gold in the upcoming sessions.'We expect gold and silver prices to remain volatile this week amid volatility in the dollar index and geopolitical tensions, and gold prices could hold their key support level of $3,284 per troy ounce and silver prices could also hold $34.00 per troy ounce levels on a weekly closing basis,' Jain Kalantri, VP Commodities at Mehta Equities, echoed a similar sentiment.'With global equities under pressure and crude oil surging, precious metals gained support. Gold may retest its lifetime high soon, and silver is expected to track its movement. A depreciating rupee could further boost domestic bullion prices,' Kalantri the US Dollar Index, DXY, was hovering near the 98.28 mark, gaining 0.10 or 0.10%.Jain suggests avoiding short selling in gold and silver until any ceasefire news from the Israel-Iran war. The buying range for gold is Rs 99,600-99,100, while the resistance for profit booking is Rs 1,01,100-1,01, for silver, the buying range is Rs 1,05,000-1,04,000 while the resistance for profit booking is Rs 1,07,200-1,08, advised the market participants to trade cautiously and according to the given Kalantri noted that gold has support at Rs 99,620-99,390 while resistance is at Rs 1,00,650-1,00,940, while silver has support at Rs 1,05,550-1,04,750 and resistance is at Rs 1,06,300-1,06, gold (22 carat) prices in Delhi stand at Rs 57,768/8 grams while pure gold (24 carat) prices stand at Rs 61,624/8 gold (22 carat) prices in Mumbai stand at Rs 56,648/8 grams while pure gold (24 carat) prices stand at Rs 60,432/8 gold (22 carat) prices in Chennai stand at Rs 56,896/8 grams while pure gold (24 carat) prices stand at Rs 60,704/8 gold (22 carat) prices in Hyderabad stand at Rs 56,976/8 grams while pure gold (24 carat) prices stand at Rs 60,672/8 grams.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The Print
13-06-2025
- Business
- The Print
Gold futures bounce Rs 2,011 to breach Rs 1 lakh-mark; hit all time high
Later, it traded at Rs 1,00,145 per 10 grams, up Rs 1,753, or 1.78 per cent, with an open interest of 16,602 lots on the bourse. On the Multi Commodity Exchange (MCX), the most-traded August delivery contracts of the precious metal zoomed Rs 2,011, or 2.04 per cent, to hit a record high of Rs 1,00,403 per 10 grams in the morning trade. New Delhi, Jun 13 (PTI) Gold prices surged for the third consecutive session on Friday, bouncing Rs 2,011 to hit an all-time high of Rs 1,00,403 per 10 grams, as a weakening rupee and escalating tensions in the Middle East drove investors to the safe haven asset. Gold future prices had on April 22 surged Rs 2,048 to hit a fresh record high of Rs 1,00,000 per 10 grams. Subsequently, the October contract of the yellow metal jumped Rs 1,970, or 1.98 per cent, to hit a fresh peak of Rs 1,01,295 per 10 grams on the MCX. Analysts said the sharp rally in gold prices was primarily driven by a weaker rupee and heightened geopolitical tensions in the Middle East, which spurred safe-haven demand for the precious metal. On Friday, rupee declined 56 paise to 86.08 against the US dollar in the initial trade due to a spike in global oil prices and a firm dollar amid rising tensions in the Middle East following Israel's attack on Iran's nuclear sites. On the global front, gold futures rose USD 41.62 per ounce, or 1.22 per cent, to trade at USD 3,444.02 per ounce. 'Gold prices rallied sharply amid escalating Israel-Iran tensions, boosting safe-haven demand. In the morning session, the precious metal breached the USD 3,420 per ounce-mark and hit 6-week highs,' Rahul Kalantri, Vice-President of Commodities at Mehta Equities, said. Kalantri further said the rally in gold was further supported by the US producer price index (PPI) and core PPI data, which indicated cooling inflation in the US. The data reinforced investor expectations that the US Federal Reserve may begin easing its monetary policy stance in the coming months. PTI HG HG TRB TRB This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
