Business
Gold, Silver Prices Cool After Record Highs; Jewellery Sales Jump 35–40% During Dhanteras
Mumbai: Gold and silver prices fell on Tuesday as investors booked profits after both metals hit record highs in the previous session, even as festive jewellery sales during Dhanteras jumped 35–40 per cent across India.
Silver Exchange Traded Funds (ETFs), which had delivered stellar one-year returns of around 65–70 per cent, also saw a sharp correction as global prices cooled following improved physical supply and easing safe-haven demand.
Silver had turned hot earlier this month when global spot prices surged past $40 an ounce amid concerns of a physical shortage. The rally extended further, crossing $50 in mid-October.
However, by the end of last week, prices began to retreat as easing trade tensions reduced safe-haven demand. On October 17, silver prices in the US fell by over 6 per cent, and the correction soon spilled over into Indian markets.
According to the India Bullion and Jewellers Association (IBJA), silver prices in India fell 7 per cent on October 20, slipping from Rs 1,71,275 per kg to Rs 1,60,100 per kg. The decline directly impacted silver ETFs, which mirror domestic silver prices.
Data from Ace MF shows that silver ETFs logged steep single-day losses, with most funds dropping up to 7 per cent on October 20.
Analysts noted that the ETFs are now trading at or below fair value — a sign that investor demand has started to cool after months of heavy inflows.
Meanwhile, in the international market, gold prices also softened after touching record highs on Monday. Spot gold was down 0.3 per cent at $4,340.29 per ounce as of 0248 GMT, after hitting an all-time high of $4,381.21 in the previous session.
US gold futures for December delivery eased 0.1 per cent to $4,356.40 per ounce, as investors booked profits amid expectations of further interest rate cuts by the US Federal Reserve.
The Multi Commodity Exchange (MCX) will also observe special Muhurat trading today, October 21, with a pre-open session from 1:30 p.m. to 1:44 p.m., followed by the Muhurat trading window from 1:45 p.m. to 2:45 p.m.
Despite the short-term correction, festive demand for gold and silver remains strong. The All India Gem & Jewellery Promotion Council, said that around 50 to 60 tonnes of jewellery were sold nationwide over the two days of Dhanteras, generating nearly Rs 85 crore in sales.
It added that while the sales volume was similar to last year, the overall value grew by 35–40 per cent due to higher prices and rising consumer interest.
“Silver, in particular, has seen a remarkable surge, with sales nearly doubling this season. With Dhanteras coinciding with the weekend and followed by Diwali and Bhau Beej, the five-day festive period is expected to deliver exceptional results,” it mentioned.
“We anticipate total jewellery sales reaching 100 to 120 tonnes, valued between Rs 1 lakh crore and Rs 1.35 lakh crore,” they said.
The announcement that England’s group stage matches in the World Cup will kick off before midnight is a “welcome boost” for pubs and bars, the boss of an industry body has said.
There had been some concerns among fans that late fixtures could curtail celebrations as next summer’s tournament will take place in the US, Canada and Mexico, meaning some games will not start until 3am UK time.
Dates, kick off times and stadiums for group stage matches were confirmed on Saturday, with Thomas Tuchel’s side to face Croatia at 9pm UK time on June 17, 3pm local time in Texas, at the home of the Dallas Cowboys NFL team.
The second match against Ghana on June 23 is a 4pm kick-off in Boston, 9pm in the UK, while the final group game against Panama at the MetLife Stadium in East Rutherford, New Jersey, is a 5pm kick-off local time – 10pm in the UK on June 27.
Kate Nicholls, the chairwoman of UK Hospitality, said: “This news is a welcome boost for the hospitality industry.
“Everyone knows that if you aren’t able to attend the game itself, your local pub or bar is the next best place to do it.”
But there are concerns that venues in Scotland risk missing out on that boost with later kick-offs for their national team.
There will be late nights for armchair fans watching Scotland’s games, with the opening game against Haiti in Boston kicking off at 9pm local time – 2am on June 14 back at home.
The second game against Morocco on June 19 is also in Boston, kicking off at 6pm – 11pm in the UK, and in the final group match they will take on Brazil in Miami on June 24, again at 6pm, or 11pm in the UK.
Paul Togneri, of the Scottish Beer and Pub Association, called for flexibility from licensing boards following the announcement.
“This is a once-in-a-generation moment for Scotland fans and should be a major boost for Scotland’s pubs, but with kick-offs at 11pm and 2am, that opportunity is at risk,” he said.
“Each match should give an estimated £3 million boost to Scotland’s pubs but we need licensing boards to show flexibility and allow pubs to open their doors, that’s why we’re calling for temporary licensing statements for the whole of the tournament.
“People will rightly want to come together and celebrate, like they did a few weeks ago when we qualified. Let’s make sure they can do that in a safe, regulated environment, and give our pubs a chance to benefit from this incredible occasion. No Pubs, No Party.”
Football fans across the UK may appreciate the 8pm kick-off for the final, which will take place at the MetLife Stadium in New Jersey on July 19.
For England and Wales, the Government on Thursday launched a consultation on extending pub licensing hours for the tournament next summer.
If approved, already licensed venues could have their licensing hours extended for the semi-finals and final until 1am, if matches for England, Wales, Scotland or Northern Ireland kick-off at 9pm or earlier UK time.
The power was recently employed for the Women’s Euros in summer and it was also used during the King’s coronation in 2023.
Ms Nicholls said: “Big sporting events always provide a sales boost for the sector and operators will be pulling out all the stops to ensure fans get the very best experience, as they come together to cheer on the home nations teams this summer.”
Business
Inside Bengaluru Billionaire Nikhil Kamath’s 7,000-Sq-Ft Home, Hidden In The Posh Corner Of The City
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Kamath’s 7,000-square-foot home in one of Bengaluru’s most exclusive apartment buildings, gives a glimpse into how India’s young billionaires live
From Kamath’s apartment, the city stretches out in every direction, offering views of Bengaluru’s skyline that are both relaxing and inspiring.
In the busy city of Bengaluru, known for its tech hubs and start-ups, one name stands out – Nikhil Kamath. He is the co-founder of Zerodha, one of India’s most successful online brokerage firms. Starting in his 20s, Kamath built his business into a giant in the finance world, making him one of India’s youngest billionaires. As of 2025, Forbes estimates his net worth at around $2.5 billion.
But it’s not just his wealth that grabs attention. Kamath’s 7,000-square-foot home in Kingfisher Towers, one of Bengaluru’s most exclusive apartment buildings, gives a glimpse into how India’s young billionaires live. The apartment is a mix of comfort, style, and quiet luxury, showing that Kamath enjoys the finer things without needing to be flashy.
Bengaluru’s Poshest Neighborhood
Kingfisher Towers is a 34-storey luxury building in central Bengaluru, home to some of the city’s wealthiest residents. From Kamath’s apartment, the city stretches out in every direction, offering views of Bengaluru’s skyline that are both relaxing and inspiring. Living here means being in the middle of the action while enjoying privacy and security.
Elegant Interiors
Inside, the apartment is decorated in calm, neutral colours like white, beige, and soft greys. Wooden touches and modern art pieces give the home a warm and stylish feel. The living room, for example, is both elegant and inviting, perfect for relaxing or entertaining friends and family.
A Balcony Made for Relaxation
One of the home’s standout features is the balcony. With a wooden deck, a small canopy bed, candle stands, and plenty of plants, it’s the ideal place to enjoy a cup of tea, read a book, or take in the city view. It’s a quiet corner that contrasts with the hustle and bustle of Bengaluru’s streets below.
Rooms That Feel Special
The bedrooms match the rest of the apartment in style and comfort. One bedroom has a canopy bed on a wooden floor and floral wall prints that add a personal touch. Floor-to-ceiling windows let in sunlight and offer sweeping city views, making every morning feel bright and calm.
A Home That Reflects His Journey
Kamath’s home isn’t just about space or luxury, it reflects his journey as a self-made billionaire. He built Zerodha with his brother Nitin Kamath in 2010, creating a platform that now serves millions of active users across India. His wealth also comes from other investments, including True Beacon and various asset management ventures.
The 7,000-square-foot apartment in Kingfisher Towers shows that Kamath values comfort, elegance, and practicality. It’s a place designed to unwind after long days of running one of India’s largest brokerage firms. For many, it’s inspiring to see how a young entrepreneur can achieve so much and create a home that reflects both success and personal style.
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Business
Fare relief move: Air India waives change, cancellation fees on domestic bookings after IndiGo disruption – The Times of India
Five days after widespread flight disruptions triggered by IndiGo cancellations, Tata Group-owned Air India on Saturday announced a special waiver on change and cancellation charges for eligible domestic bookings, aiming to offer relief to affected travellers, PTI reported.The airline said customers who booked tickets on Air India or its subsidiary Air India Express on or before December 4 for travel up to December 15 can make a one-time change or cancellation without paying the usual fee, provided the request is made by December 8, 2025. In case of rescheduling, any fare difference will still be applicable.
Under the waiver, passengers can either reschedule their journeys to a later date within the validity of the purchased ticket without paying rescheduling charges or cancel their bookings and receive a full refund, with no cancellation fee applied, the airline said.Air India also said it, along with Air India Express, has “proactively” capped economy-class airfares on non-stop domestic routes from December 4 to prevent price spikes driven by automated demand-supply algorithms. The carriers are also in the process of ensuring compliance with the latest directive issued by the Civil Aviation Ministry on airfare caps.
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