Business
Gold, silver price prediction: Will gold head to Rs 1.60 lakh/10 grams & silver hit Rs 2.80 lakh/kg? Check outlook – The Times of India
Gold and silver price prediction today: Gold and silver prices may continue to rise, with both precious metals exhibiting a bullish bias, says Abhilash Koikkara, Head – Forex & Commodities, Nuvama Professional Clients Group.
MCX Gold Price Outlook
On the weekly chart, MCX Gold is trending sideways to bullish, bouncing from recent lows and pushing back toward the recent swing high within its broader range. Trading above trendline resistance keeps the underlying uptrend in good shape. The intermediate outlook stays bullish, making near-term dips a potential accumulation opportunity. That said, a firm close below key support levels could invite a deeper pullback but as long as prices hold above the recent swing lows, the broader uptrend remains intact.Heading into next week, the 147,500 zone aligned with the weekly low stands out as a key support level worth watching. Any pullback toward this area is likely to attract fresh buyers, limiting the downside. The broader bullish structure holds as long as prices stay above this level, but a firm close below it would put the bullish case to rest.The next targets for gold sit at 161,000 and 165,000, with the current setup favouring further upside in the coming sessions. A push toward these levels would validate the bounce from support and keep bullish momentum alive. Price action remains firm, pointing to more gains ahead.Gold’s bullish bias stays intact, backed by a positive underlying trend that keeps further upside on the table. The broader bullish structure holds as long as prices stay above the 147,500 support level. With momentum indicators pointing in the right direction and sentiment still leaning positive, gold looks well-placed to extend its upward move in the sessions ahead.
MCX Gold Trading Strategy
- CMP: 152,600
- Target: 165,000
- Stop Loss: 147,500
MCX Silver Price Outlook
On the weekly chart, silver is keeping its bullish momentum alive, bouncing from the lower end of its range and holding within the broader consolidation. The rebound from recent lows keeps the price structure positive, and with the larger trend still pointing up, any pullbacks toward the previous week’s low could be worth watching as buying opportunities. Traders should stay aligned with the trend and keep stop-losses near the latest weekly lows to protect against any unexpected downside.The market opened the week on a sideways note, but the bounce from recent lows keeps the upward momentum alive. The bullish bias holds as long as prices stay above key weekly support levels. The previous week’s low at 236,000 is the immediate support to watch, a firm close below this mark would put the bullish case under pressure. Until that happens, any short-term dips are likely to draw buyers in, keeping the broader uptrend on track.On the upside, silver looks set to revisit the recent swing high around 260,000, with 280,000 as the next meaningful target over the near to medium term. A firm close above 260,000 would open the door to that higher level and keep the bullish trend in play, backed by steady momentum and supportive technical readings. As long as 236,000 holds as support, the broader uptrend stays intact, and further gains remain on the table.
MCX Silver Trading Strategy
- CMP: 253,300
- Target: 280,000
- Stop Loss: 236,000
(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India.)
NEW DELHI: The West Asia conflict is pushing govt to look at a faster transition towards renewable energy, including the possibility of increasing ethanol blending in petrol from 20-25%, although in a calibrated manner. This will come along with increased refining capacity within the country, so that there is a buffer in the system and greater domestic resilience, those familiar with the discussions said, pointing out that sustaining refineries at 100% capacity is not sustainable.While Barmer refinery has begun operations, expansion at Numaligarh is underway and work on integrated refineries on the west coast is also under focus. Apart from a mega refinery in Maharashtra, a new facility in Gujarat is also planned.Officials said rising use of renewables, biofuels and hydrogen in the energy mix was no longer just an environmental issue, but a strategic necessity in a situation like the present one, where the military conflict in West Asia has disrupted global energy supplies, triggering a supply crisis and a surge in oil and gas prices.According to officials, 20% ethanol blending has helped India save 4.5 crore barrels of crude annually and reduce foreign exchange outflow by around ₹1.5 lakh crore so far. Given the concerns over fuel efficiency and impact on vehicles, govt is expected to take a gradual approach that addresses the anxiety on ethanol blending. The third pillar on energy is expanding the strategic petroleum reserves.
A cup of coffee and strawberry frosted donut with sprinkles at a Dunkin’ Donuts location in Los Angeles, Sept. 6, 2017.
Patrick T. Fallon | Bloomberg | Getty Images
Dunkin’ and Buffalo Wild Wings owner Inspire Brands has confidentially filed for an initial public offering, the company announced on Friday.
If Inspire goes public, it will be one of the biggest-ever restaurant offerings. Private equity firm Roark Capital, which backs Inspire, is reportedly seeking a valuation of roughly $20 billion.
Inspire was founded in 2018 through a merger between Arby’s and Buffalo Wild Wings. Acquisitions followed: Sonic Drive-In later in 2018 and Jimmy John’s in 2019. And in 2020, Inspire took Dunkin’ and its sister chain Baskin Robbins private in an $11 billion deal.
Across those six chains, Inspire has more than 33,300 restaurants worldwide and $33.4 billion in annual sales, according to the company’s website.
Inspire isn’t the only restaurant company pursuing an IPO. Last month, Jersey Mike’s also announced that it had confidentially filed with the Securities and Exchange Commission.
The market for initial public offerings has been tepid, although that could change later this year. Market volatility, economic uncertainty and recent poor performance among IPO stocks has led to a backlog of listings.
However, several blockbuster IPOs, such as the SpaceX offering that could value the company at more than $1 trillion, are anticipated in the coming months.
Millions of car finance payouts are in jeopardy after the UK’s financial watchdog indicated its compensation scheme faces significant delays, changes, or even collapse.
This uncertainty stems from four legal challenges against the Financial Conduct Authority (FCA).
The FCA has advised motor finance firms to prepare for the possibility that its redress scheme, which could see an average payout of £829, may not proceed.
The regulator stated that while a hearing date is unclear, these cases are unlikely to be heard before October.
In the meantime, it is in discussions about the “possibility of suspending some elements” of its compensation scheme, while still urging lenders to prepare for payouts.
But the regulator said it was also considering its options should parts of the scheme be quashed by the courts, including proceeding with a revised version or asking lenders to plan for a scenario where “there would be no scheme”.
This could mean lenders need to be ready to respond to complaints from car finance customers individually, rather than under the rules of an industry-wide programme set by the FCA.
“Many people will be frustrated that the legal action will delay payouts due to begin this year,” the FCA said.
“We remain committed to ensuring consumers receive any compensation owed as promptly as possible.”
The FCA set out the final details of its compensation scheme in March, which it estimated could cost the industry about £9.1 billion in total.
It had been expecting millions of claims to be paid out this year and the vast majority settled by the end of 2027.
The financial services arms of carmakers Volkswagen and Mercedes-Benz and the car finance arm of French bank Credit Agricole, as well as Consumer Voice, a group representing consumers, are asking the courts to quash the scheme, arguing the rules are unlawful.
“Between the four separate legal challenges, it is claimed in effect that the FCA’s approach to establishing the schemes has been both unduly favourable to consumers and unduly favourable to lenders,” the watchdog said.
At least one claim alleges that the FCA has breached the rights of lenders under the 1998 Human Rights Act, according to the watchdog.
Despite the uncertainty of the legal cases, the watchdog is still advising consumers to complain directly to their lender if they think they might be owed compensation, which they can do for free using a template letter on its website.
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