Sakha with gold

SINGAPORE: Gold has been one of the best performing assets this year. It reached an all-time high of US$2,031 an ounce on Aug 7. Since attaining that pinnacle, it has retreated 8 per cent to a three-month low of US$1,859. However, there are signs that there could be renewed interest in the metal. Its price has recovered above that and, importantly, the movement of the gold price this year has defied conventional wisdom. GOLD VS EQUITIES Since the start of the year, an ounce of the yellow metal has risen from $1,514 an ounce to $1,890 today. The 24 per cent rise has outperformed Singapore’s Straits Times Index’s 21 per cent decline, and the US Dow Jones Industrial index’s somewhat flattish performance for the year. It has also outstripped the pedestrian 4 per cent rise in the MSCI World Index, which is a broad measure of the global stock market’s performance. But it has not quite matched the Nasdaq’s 32 per cent gain this year. READ: Commentary: Stock market valuations … [Read more...] about Commentary: Gold may have lost some of its shine but don’t write it off just yet

CORTINA D'AMPEZZO, Italy: Swiss favourite Lara Gut-Behrami won the women's super-G gold medal as the Alpine skiing world championships started in Cortina d'Ampezzo on Thursday after a three-day weather delay. Corinne Suter improved on her 2019 bronze to make it a Swiss one-two in the rescheduled race, her time 0.34 lower than Gut-Behrami's one minute 25.51 seconds down the glistening Olympia delle Tofane piste. Mikaela Shiffrin, the defending champion from the United States, took bronze on a sunny morning after recent fog and snow in the Italian Dolomites. The race was held without fans due to the COVID-19 pandemic. The gold was a career first for Gut-Behrami, who had won four World Cup super-Gs in a row ahead of Cortina. The 29-year-old has three silvers and two bronzes from previous championships. "In the past I always wanted to win gold and it never happened," said the Swiss when asked if she had realised her biggest dream. "Today it was the first time that I knew my … [Read more...] about Alpine skiing: Gold for Gut-Behrami as sun shines in Cortina

AHMEDABAD: Dwindling gold jewellery exports have dented the business of several small-scale jewellery manufacturing units in Gujarat, as their order volumes declined. According to gems and jewellery export promotion council ( GJEPC ), gold jewellery export stood at $3,552 million for the period between April 2020 and January 2021, 64% down against the same period in the previous financial year. "Majority of jewellery exports take place from Mumbai, Chennai, and Kolkata. However, several exporters outsource manufacturing to units in Gujarat. With declining export orders, the business of small manufacturing units will be impacted," said Ashish Pete, GJEPC president. Estimates suggest that Gujarat also accounts for upto 10% of jewellery exports in India. Ahmedabad is home to at least 30-40 wholesale jewellery manufacturing units, majority of which are dependent on both domestic as well as export orders, according to Manek Chowk Choksi Mahajan ( MCCM ). Rajkot is yet … [Read more...] about Dip in gold jewellery exports hits small-scale units

Gold prices on Friday declined by ₹ 342 to ₹ 45,599 per 10 grams and silver plummeted by ₹ 2,007 to ₹ 67,419 per kg in the national capital, due to selling in the international market, according to HDFC Securities. The precious metal had closed at ₹ 45,941 per 10 grams on Thursday. Silver plummeted by ₹ 2,007 to ₹ 67,419 per kg, compared with the previous close of ₹ 69,426 per kg. HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Spot prices for 24 karat gold at Delhi fell for the third day by ₹ 342, in line with selling in global gold prices despite of sharp rupee depreciation." In the international market, gold was trading lower at $ 1,760 an ounce, while silver was down at $ 26.78 an ounce. … [Read more...] about Gold declines ₹ 342; silver plummets by ₹ 2,007

OBERSTDORF, Germany: A late sprint on the final bend earned Norway's Jarl Magnus Riiber the gold medal in the Nordic combined event as he edged out Ilkka Herola of Finland by four tenths of a second at the FIS Ski World Championships on Friday. Japan's Ryota Yamamoto recorded the longest ski jump of the competition to top the standings heading in to the 10km cross-country ski race, but he was soon left behind as the stronger skiers engaged in a tough battle at the front of the field. On the final lap, reigning champion and World Cup leader Riiber was perfectly positioned behind Herola, with Norway's Jens Luraas Oftebro in third and Japan's Akito Watabe in fourth, but Watabe was dropped as the front three crested the final hill and the race for the line began. Herola looked to be in pole position as they swept down the final hill but Riiber, who won Olympic silver in Pyeongchang in 2018, shifted outside and powered around the last bend to claim the gold medal, raising his … [Read more...] about Riiber sprints to claim Nordic combined gold for Norway