Business
Gold, Silver Prices Ease On MCX Amid Profit Booking At Record Highs
Mumbai: Gold and silver prices fell in early trade on Thursday, on the Multi Commodity Exchange (MCX), as investors booked profits after both metals hit record highs in the previous session.
At around 9:15 am, MCX Gold December futures were down 0.34 per cent at Rs 1,22,789 per 10 grams, while MCX Silver December futures slipped 0.75 per cent to Rs 1,48,738 per kg.
In Wednesday’s session, gold futures for December delivery had touched an all-time high of Rs 1,23,450 per 10 grams, and silver had hit a fresh peak of Rs 1,50,282 per kg.
Gold prices have seen a sharp rally this year, with domestic spot prices jumping more than 50 per cent so far.
The surge has been driven by global political and economic uncertainties, expectations of interest rate cuts by the US Federal Reserve, a weaker US dollar, strong central bank buying, and robust inflows into gold exchange-traded funds (ETFs).
Experts believe that despite some short-term volatility and profit booking, gold prices will continue to rise in the coming months.
They expect gold to surpass Rs 1,25,000 per 10 grams by the end of 2025, supported by rate cut hopes and concerns related to US trade tariffs.
“By year-end, gold on the MCX could move towards Rs 1,25,000–Rs 1,28,000 per 10 grams, while silver could test Rs 1,55,000–Rs 1,60,000 per kg, assuming the US Federal Reserve delivers one or two rate cuts and the dollar remains under pressure,” market experts added.
“Gold broke above $4,000 per ounce — up 53 per cent year-over-year — as investors sought safe havens amid the government shutdown and policy uncertainty,” analysts added.
The Dollar Index rallied to 98.90 due to political instability in France and Japan, which pressured commodities.
Oil fell 0.67 per cent to $62.13 per barrel as Trump announced progress on the ceasefire and inventories exceeded expectations, easing geopolitical risk premiums, as per the experts.
Business
Gen Z and social media are helping men’s makeup go mainstream. The beauty industry is trying to capitalize
Pixdeluxe | E+ | Getty Images
It often starts small.
A dab of concealer. A tinted moisturizer. Maybe a brow gel that goes from borrowed to bought. For many men, like Daniel Rankin, makeup has transformed from something taboo into a tool to make them look less tired and more put together.
“I remember thinking, ‘Am I really doing this?'” Rankin, a 24-year-old advertising agent from New York who likes to shop at Sephora, told CNBC. “But once I tried it, it just became normal.”
In front of bathroom mirrors and in gym locker rooms, more men are now adding cosmetics to their routines, industry experts told CNBC. The men’s makeup market is now one of the most lucrative — and largely untapped — growth opportunities left in beauty, and specialty retailers like Ulta Beauty and Sephora along with big-box companies like Target and Walmart all see opportunity.
“Men’s beauty is one of the last categories left where brands can likely still see easy double-digit growth potential simply by showing up,” said Delphine Horvath, professor of cosmetics and fragrance marketing at the Fashion Institute of Technology.
Men’s grooming sales in the United States topped $7.1 billion in 2025, up 6.9% year over year, according to market research firm NielsenIQ. The global market was valued at $61.6 billion in 2024 and projected to surpass $85 billion by 2032, with the biggest growth driven by the skin-care sector, according to Fortune Business Insights.
Much of the momentum is coming from Gen Z.
In the U.S., 68% of Gen Z men ages 18 to 27 used facial skin-care products in 2024, a sharp jump from 42% just two years earlier, according to data from market intelligence firm Mintel.
“This is no longer niche,” said Linda Dang, CEO of Canada-based Asian beauty retailer Sukoshi. “Men are forming routines, that usually starts at skin care and then expands further, they are no longer just buying random products. That’s what makes this market so valuable.”
Bloomberg | Bloomberg | Getty Images
Unlike one-off grooming purchases, makeup encourages repeat use and experimentation. A man who starts with concealer often adds primer, setting powder or tinted SPF over time, said Farah Jemai, global marketing associate lead at beauty brand Unleashia.
“When men discover makeup that works, they don’t use once and never again,” Jemai told CNBC. “They restock.”
Market researchers estimate that in 2022, about 15% of U.S. heterosexual men ages 18 to 65 were already using cosmetics and makeup, while another 17% said they would consider it, according to Ipsos. Industry experts say those figures are likely higher in 2026.
Openness to cosmetics has grown, as the share of U.S. men who say they never wear makeup has fallen from more than 90% in 2019 to about 75% in 2024, Statista survey data show.
Retailers cater to men
Beauty conglomerates and startups alike are responding to the growth in men’s beauty.
Ulta Beauty and and Sephora have begun integrating men’s complexion products into gender-neutral, skin care-first displays rather than having “Men’s” aisles. Those gender-specific displays can feel intimidating or stigmatizing to some men, Horvath said.
Big-box retailers like Walmart and Target have also expanded their men’s cosmetics or grooming offerings.
For example, in 2025, Target partnered with online streaming collective AMP, Any Means Possible, to launch TONE. The men‑forward personal care brand debuted in Target stores nationwide in July, leveraging AMP’s massive Gen Z male following across YouTube and Twitch.
Online — where much of the growth and discovery is happening — many beauty brands are pouring money into influencer partnerships to increase engagement and sales on TikTok Shop and Amazon.
“So many brands are now putting most of their marketing budget into influencer marketing to meet people where they already are online and make it easier to click ‘buy,'” said Janet Kim, a vice president at K-beauty brand Neogen.
Others are leaning into digital education to teach men what different items do.
The brand War Paint sells makeup products like concealer pens, tinted moisturizers and anti-shine powders that feature QR codes on the packaging. Scanning them launches video tutorials explaining what each product does — without forcing customers to ask questions in a store.
“The biggest barrier isn’t price, it’s uncertainty,” Dang said. “Men want to know what a product does and how to use it without feeling awkward.”
But the path to mass adoption isn’t guaranteed.
Industry analysts warn that social stigma remains high and inflation threatens to curb spending on experimental, nonessential goods. Retailers also face a steep learning curve: It is difficult to scale a market when the core customer doesn’t know how to use the product.
Target’s SoHo store has an eye-catching “Beauty Bar” that shows off fragrances, makeup items and more.
Courtesy of Target
The emergence of men’s makeup
While men have worn makeup for centuries, from ancient Egypt to Elizabethan England, the modern commercial men’s makeup movement traces its roots to the mid-2010s.
In 2016, CoverGirl made history by appointing then 17-year-old YouTuber James Charles as its first-ever “CoverBoy,” placing a male face on a mass-market cosmetics brand for the first time.
Still, beauty conglomerates largely focused on women until recently, Sukoshi’s Dang said. Now, a broader cultural reset around masculinity is taking place and companies are racing to monetize it, FIT’s Horvath said.
Social media has been the single biggest accelerant, Dang said.
On TikTok and Instagram, male creators post step-by-step makeup routines, product breakdowns and before-and-after results that often emphasize subtle changes rather than dramatic looks. Hashtags tied to men’s grooming and makeup have amassed billions of views, with #mensgrooming alone surpassing 26 billion views on TikTok.
“TikTok democratized the ‘how-to,'” said Dang. “You don’t have to ask your sister or guess anymore. You just scroll, see a guy who looks like you fixing his acne in 30 seconds, and click ‘buy.’ It removed the gatekeepers.”
Gen Z men are also more comfortable rejecting rigid gender categories and more skeptical of marketing that frames products as inherently masculine or feminine, Horvath said.
At the same time, makeup has increasingly been folded into a broader wellness and optimization culture — sometimes referred to as “looksmaxxing” — that includes fitness tracking, supplements, hair-loss prevention and longevity routines.
“Many men have started framing grooming and, for some, makeup as maintenance, not vanity,” Horvath said. “That reframing removes stigma and unlocks spending.”
Celebrity influence has further accelerated adoption, with stars like Harry Styles, Brad Pitt and Dwayne “The Rock” Johnson launching their own skin care and makeup brands, mirroring the trend of celebrity saturation largely seen in spirits.
Johnson’s brand Papatui, which launched at Target in 2024 and spans skin, hair, body and tattoo care, was created in response to ongoing questions about his grooming regimen. It now competes directly with legacy names like Clinique, L’Oréal and Kiehl’s.
CoverGirl James Charles
Source: COVERGIRL
Moving ahead
As the market matures, a debate is forming: Do men want “men’s makeup,” or do they just want makeup?
Horvath said there is a “bifurcation” in how companies are marketing their products.
Brands like War Paint and Stryx argue that men need products designed for their thicker, oilier skin, and packaged in masculine, tool-like containers that feel at home in a gym bag.
But Gen Z consumers are increasingly gravitating toward gender-neutral brands like LVMH co-owned Fenty Beauty, The Ordinary and Haus Labs. For them, labels that say “For Men” can feel outdated or even patronizing, Horvath said.
“In ten years, I don’t think we’ll be talking about ‘men’s makeup’ anymore,” Horvath said. “We will just be talking about makeup. The gender binary in beauty is dissolving, and the sales data is finally catching up to the culture.”
Business
Gift Mutual Fund Units To Children Without Capital Gains Tax: Online Step-By-Step Guide
Last Updated:
Parents can now easily gift mutual fund units to children online via Demat or RTA platforms, with no gift tax under Section 56 (2).
Gift Mutual Fund Units to Children Without Capital Gains Tax: Here’s How
Parents can gift their children units held in their mutual funds without any restriction. The entire process is online and allows them to conveniently transfer the units to their children’s demat or folio.
Earlier, the process was typical with several checks and balances; however, in a series of reforms, Sebi has made the process smooth and easy.
According to Sebi guidelines, one can transfer units “off-market” without selling them. This helps avoid immediate capital gains tax.
Option A: For Units held in Demat Form
If your mutual funds are in a Demat account (like with Zerodha, Groww, or ICICI Direct):
Obtain a DIS: Get a Delivery Instruction Slip from your broker.
Fill Details: Enter your child’s Demat account details (DP ID and Client ID).
Submit Slip: Provide the slip to your broker. A nominal “off-market” transfer fee (usually around ₹25 or 0.03%) plus stamp duty will apply.
Acceptance: Your child may need to “accept” the transfer in their own demat portal.
Option B: For Units held in Physical/Statement of Account (SoA) Form
Previously, this required converting to Demat first, but new rules allow direct transfers through RTAs (like CAMS or KFintech):
Login to RTA/MF Central: Use platforms like MF Central, CAMS, or KFintech.
Select ‘Gift/Transfer’: Use the new online transfer module. You will need your child’s PAN and their existing folio number (or they must create one).
OTP Verification: Both you and your child will receive OTPs to authorize the transfer.
Stamp Duty: You will need to pay a small stamp duty (typically 0.015%) online to complete the process.
What Are Tax Implications?
The good news is that there’s no tax for gifting units of mutual funds to your children. Under Section 56 (2) of the Income Tax Act, gifting to “relatives” is exempt from gift tax.
But what you need to know is clubbing provision. If you gift to a minor, any income or capital gains generated from those units will be “clubbed” with your income and taxed at your slab rate.
For children over 18, the clubbing rule does not apply. Any future gains will be taxed in their hands.
When the child eventually sells the units, their “cost of acquisition” is considered to be the original price you paid, and the holding period starts from the date you first bought the units.
Disclaimer: The views and investment tips by experts in this News18.com report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions.
January 10, 2026, 17:43 IST
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Business
HDFC Bank Changes Debit Card Lounge Access Rules From Today: What Cardholders Must Know
Last Updated:
HDFC Bank now offers airport lounge access via digital vouchers for debit cards, with a doubled Rs 10,000 quarterly spend. Physical card swipes are discontinued.
HDFC Bank Doubles Spend Requirement for Complimentary Lounge Access
HDFC Bank Airport Lounge Access Rules 2026: HDFC Bank has revised the rules for complimentary airport lounge access on its debit cards, shifting to a voucher-based access system and increasing the minimum spending requirement. The changes have come into effect from today, January 10.
Until now, eligible debit cardholders could enter airport lounges by swiping their physical card. Under the new system, lounge access will be granted only through digital vouchers, issued to customers who meet the spending criteria.
Once eligibility is confirmed, the bank will send an SMS or email with a link to claim the voucher. Customers will need to complete OTP verification using their registered mobile number. After successful verification, a voucher code or QR code will be issued, which must be shown at the lounge for entry.
Minimum Spend Doubled For Most Cards
HDFC Bank has doubled the quarterly spend requirement for complimentary lounge access on most debit cards.
Customers must now spend Rs 10,000 or more per calendar quarter from Rs 5,000 earlier. The spend can be through single or multiple transactions, online or offline. The revised spending condition does not apply to the Infiniti Debit Card, which continues to offer lounge access without any minimum spend.
Complimentary Lounge Visits Remain Unchanged
The number of free lounge visits will continue to depend on the debit card variant:
Millennia Debit Card: 1 visit per quarter
Platinum Debit Card: 2 visits per quarter
Times Points Debit Card: 1 visit per quarter
Business Debit Card: 2 visits per quarter
GIGA Debit Card: 1 visit per quarter
Infiniti Debit Card: 4 visits per quarter
Only purchase transactions made using the debit card will count toward the quarterly spend. The following are excluded, Moneycontrol noted:
ATM Cash Withdrawals
- UPI or wallet payments (GPay, PhonePe, Paytm, etc.)
- Credit card bill payments via debit card
- Debit card EMI transactions
- New debit cardholders will also need to meet the Rs 10,000 spend threshold to become eligible.
Voucher Validity And Lounge Rules
Once issued, lounge vouchers will remain valid until the end of the next calendar quarter.
For instance:
Voucher generated on November 15, 2025 → valid till March 31, 2026
Voucher generated on January 10, 2026 → valid till June 30, 2026
Lounge access will continue on a first-come, first-served basis, with lounges retaining the right to impose stay limits—typically two to three hours—or deny entry due to operational, safety or regulatory reasons.
What this means For Customers
HDFC Bank’s updated lounge access programme places greater emphasis on higher card usage and digital verification. Customers who rely on complimentary lounge benefits will need to closely track their quarterly spending and note that physical debit card swipes will no longer work from January 10.
January 10, 2026, 14:26 IST
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