Gold and Precious Metals share price target

Trade deficit for May-21 narrows to an 8-month low of USD 6.3 bn led by higher exports and lower imports

India's trade deficit continued to widen with normalising economic activity back home along with some restocking of commodity inventories.

Titan looks like the big winner right now, but DEFENCE' will be the operating word as SUPERPACK closes in. Business gains are priced in. Initiate coverage with NEUTRAL. Thangamayil is evolving in tandem with regulatory tailwinds. It is poised to drive up return ratios significantly over the next few years, flowering in its core markets. Initiate coverage with BUY. Whats VISIBLE to investors? Durable growth, anchored to wedding demand A huge trust deficit in unorganised retail POS Pro-organised regulatory push, incl. demonet + GST Tightening credit lines for jewellers Whats LESS visible? We visited players across the Indian jewellery value chain in six cities to validate the visible and to discover some of the not so visible moving parts. Our findings: Indias jewellery story is mostly about the SUPERPACK (17 organized jewellery chains that will grab ~42% share in the next five years). The SUPERPACK has significant diversity in current operations as well as growth strategies. Battle for market share will be played in North and West India, away from the largest market (South). Only one SUPERPACK player is choosing to opt out. Our India visit suggests jewellery may have some legs (~6% CAGR built over FY18-23E). However, as a category, jewellery could so easily have an alternative history - may not grow apace with demographic (and income) tailwinds, despite the anchor wedding segment, and may even slip down the discretionary spending ladder. For us, this is the biggest invisible that investors must recognise. Street folly: RoCEs are overstated in proforma accounts. We prefer to see...

India is one of the largest consumers of gold, whereas gold loan penetration is just under 4%. Gold prices are largely stable post FY14, which augurs very well for loan growth as well as for asset quality. Acceptance towards pledging family gold for meeting short term needs is gaining popularity not only in the less penetrated rural markets, but also the urban markets. Given the complete secured nature of lending, its credit cost is lowest with in the NBFC space. Consolidation is happening in favor of specialised gold financing companies as it operates with a smaller ticket size, requires faster processing and demands expertise in a host of operational aspects such as...

Gold price after consolidating for more than 4 years is now showing signs of breaking out of the consolidation. Price last week resumed its uptrend after correcting for 2 weeks.

Gold futures gained for the fourth consecutive week in a row as Dollar weaken against its major rivals despite positive labour data released last week. Gold prices moved off shrugging off...

Gold will be in focus for the day as traders will be awating non farm payroll data. Although new jobs added could be lesser than previous month due to Christmas but anything below 190000...

Gold futures last week rebounded post Federal Reserve rate hike by 0.25 bps which was more or less factored by bullion markets. Fed kept its outlook for three rate rises next year unchanged and said..

Gold futures on Thursday drifted lower following the upbeat inflation data which lifted treasury yields and Dollar. Signs of progress on U.S. tax reform also weighed on sentiments.

Gold prices remained subdued yesterday as investors awaits the Federal Reserve meeting minutes to be released today. Earlier during the day, prices gained on heightened risk after President...

Gold futures rallied to close highest in a month on back of weakness in Dollar amid uncertainty over progress in U.S. tax reform legislation. Earlier, Dollar had remained strong as U.S....

Gold prices yesterday closed marginally higher as U.S. economic data fed uncertainty over the Federal Reserves path for interest-rate hikes.

Gold prices gained yesterday after remaining in a narrow range since last few days only to settle marginally lower as U.S. Core CPI data showed a rise in inflation, which raised the probability...

Gold futures slid lower last week on buoyant unemployment data which raised the sentiments and expectations for an interest rate hike in December 2017.

Trade deficit narrowed further to $11.4 billion in July as against $13 billion in June. Exports grew by mere 3.94% (y-o-y) valued at $ 22 billion in July. Exports growth for the period Apr-...

Trade Deficit in Aug was ~US$ 7.67 Bn v/s 7.74 Bn in the previous month. This is lowest trade deficit number in last three months due to decrease in oil imports by ~ US$0.6Bn and Gold by ~US$ 3.8Bn..