Gold Silver Reports — Discounts on gold have disappeared as jewellers have started restocking the precious metal a month after introduction of 3% GST on gold, as market sentiment turns positive. A southward price movement of gold due to strengthening of the rupee against the dollar has also helped consumers take interest in the yellow metal.
Gold Silver Reports — Shares of India’s banks may be set for a pullback, according to Vikas Gattani, chief investment officer at Singapore-based fund manager Progress Asia Capital and Advisors Pte.
“In the absence of any sharp uptick in banking credit and a major redressal in the banks’ balance sheets via capital injection or otherwise, we fear that this sector could severely correct if the earnings do not keep pace with expectations,“.