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Gold, Silver At All Time High As Israel-Iran Conflict Escalates — Check Prices In Mumbai, Chennai And More
- Gold prices hit an all-time high reaching Rs 1,00,480 per 10 grams amidst the escalating Israel-Iran conflict, as reported by the Indian Bullion Association.
- Major metro cities like New Delhi, Mumbai, Kolkata, Bengaluru, and Chennai saw significant increases in gold prices, with Chennai recording the highest price at Rs 1,00,580 per 10 grams.
- In the United States, gold was trading higher at $3,445.80 per ounce.
- Silver prices also reached an all-time high at Rs 1,06,920 per kg on Monday, with silver futures experiencing a slight decline to Rs 1,06,474 per kg.
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Bloomberg Quint
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Bond Investors Look To Fed For Guidance On Timing Of Rate Cuts
- Bond investors are looking to the Federal Reserve for guidance on the timing of rate cuts, following a rally in Treasuries last week that was affected by escalating geopolitical tensions leading to a surge in oil prices.
- Investors affected by President Donald Trump's trade and fiscal policies will observe the impact on the Fed's interest-rate policy during the June 17-18 meeting where interest-rate projections will be scrutinized to gauge policymakers' response to uncertainty.
- Markets are currently pricing in a high probability that the Fed will lower rates in September, with expectations of less than two quarter-point cuts by year-end.
- Key upcoming events to monitor include economic data releases and Fed actions, such as the FOMC rate decision on June 18.
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Bloomberg Quint
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Market Experts' LIVE Stock Recommendations: Buy ITC Hotels, Bajaj Finance, JSW Infrastructure
- Market experts are recommending buying shares of ITC Hotels, Bajaj Finance, and JSW Infrastructure.
- Oil refining companies are in focus as oil prices approach $80-a-barrel mark due to geopolitical tension between Israel and Iran.
- Sundar Kewat from Ashika Institutional Equity Ltd. suggests adding JSW Infrastructure shares at Rs 320 levels for potential gains.
- Prashanth Tapse of Mehta Equities recommends buying Bajaj Finance shares and suggests a long-term perspective for investors.
- ITC Hotels shares receive a buy recommendation from Prashanth Tapse with near-term target at Rs 235-240 and long-term target at Rs 280.
- The GIFT Nifty was trading higher, indicating a positive open for the Nifty 50 index supported by rising Asian equities.
- Market experts advise consulting financial advisers before making investment decisions.
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Bloomberg Quint
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Gold Pushes Toward Record High As Mideast War Drives Haven Bids
- Gold prices neared a record high on Monday as tensions between Israel and Iran drove investors towards safe-haven assets.
- The precious metal rose by 0.6% in early Asian trading, reaching around $3,450 an ounce, just $50 shy of its all-time peak in April.
- The conflict between Israel and Iran intensified over the weekend, leading to higher energy prices due to threats to energy infrastructure and transport in the region.
- Geopolitical risks, along with concerns over global economic growth from trade tensions and central banks diversifying away from the dollar, have fueled the more than 30% rally in gold prices in 2025.
- Gold's 1.4% surge on Friday followed weak US inflation and jobs data, increasing expectations of a Federal Reserve interest rate cut later this year.
- Lower interest rates tend to benefit gold as it does not provide interest payments.
- Spot gold was up 0.4% to $3,446.77 an ounce in Singapore, while the Bloomberg Dollar Spot Index gained 0.1%, with silver holding steady and platinum and palladium making gains.
- Investors are closely monitoring the situation in the Middle East and its potential impact on energy markets and global economy.
- Gold's performance in response to geopolitical events highlights its role as a traditional safe-haven asset in times of uncertainty.
- The metal's recent rally reflects a combination of geopolitical tensions, central bank actions, and macroeconomic concerns weighing on financial markets.
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Bloomberg Quint
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EPF Advance: Try These Alternatives Before Withdrawing Your Retirement Savings
- EPF scheme offers a partial withdrawal facility for emergencies or events like weddings, but one should consider factors before depleting retirement savings.
- Employees' Provident Fund (EPF) scheme is crucial for private sector employees for retirement savings security.
- EPF scheme is a reliable investment tool offering secure returns, aiding in building a retirement corpus fund.
- EPF interest rate is currently at 8.25% per annum, reviewed and fixed periodically by the government.
- Financial experts caution against frequent EPF withdrawals to prevent depleting long-term savings and reduce returns due to compounding effects.
- Withdrawals from EPF attract taxes if done before five years of continuous service, leading to TDS if not compliant with EPFO norms.
- Considering alternatives to EPF advance withdrawals, employees can explore options like personal loans, borrowing from friends or family, emergency funds, salary advances, or credit cards for short-term financing needs.
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Bloomberg Quint
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Gucci Owner Kering Turns To Renault CEO In Turnaround Bid
- Kering SA is set to name Renault SA's CEO, Luca de Meo, as its next CEO in a bid to turn around the struggling Gucci fashion label.
- De Meo is credited for doubling Renault's shares during his tenure and is seen as adding gravitas and experience to Kering.
- Kering considers splitting CEO and chairman roles currently held by Francois-Henri Pinault, amidst significant share value decline and Gucci's challenges.
- Renault under De Meo's leadership surpassed Nissan in market value, returned to profit, and formed partnerships with technology giants.
- Kering, led by Pinault for two decades, faced challenges with Gucci's performance, brand controversies, and debt reduction efforts.
- De Meo's appointment might bridge cultural divides within Kering, which owns Italian brands like Bottega Veneta and Pomellato.
- Questions arise about the future of top Kering executives under Pinault following De Meo's appointment.
- Luca Solca, luxury analyst at Bernstein, views the choice of De Meo as a positive step but highlights the need for effectiveness in the new industry.
- Kering's turnaround efforts also involved new CEO appointments for various labels and contemplation of leadership restructuring.
- De Meo's success in revitalizing Renault's trajectory and forming strategic partnerships supports Kering's optimism for Gucci's revival.
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Bloomberg Quint
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Petrol, Diesel Prices Unchanged On June 16; Here's How Much You Pay For Fuel Now
- Petrol and diesel prices remained unchanged on June 16 in major metro cities.
- In Delhi, petrol is priced at Rs 94.77 per litre, and diesel at Rs 87.67. In Mumbai, petrol costs Rs 103.50 and diesel Rs 90.03.
- Chennai sells petrol at Rs 100.80 and diesel at Rs 92.39, while in Kolkata petrol is priced at Rs 105.41 and diesel at Rs 92.02.
- Fuel prices in India have been stable since May 2022 after tax reductions by the central and state governments.
- Oil marketing companies review petrol and diesel prices daily, influenced by global crude rates and exchange rates.
- The pricing method considers factors like international crude prices, rupee-dollar rates, demand, and global trade flow.
- On the global front, Brent crude oil rose to $75.33 due to tensions between Israel and Iran, impacting the oil market.
- Crude prices had dropped to $59 in May but rose over 13% recently amid increased geopolitical tensions.
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Bloomberg Quint
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Oil Extends Rally As Israel-Iran Conflict Stokes Supply Concerns
- Oil prices surged as Israel and Iran engaged in attacks over the weekend, raising concerns about supply disruptions from a region that produces a third of the world's crude.
- Brent crude rose by 5.5% initially, then settled below $76 per barrel, while West Texas Intermediate hovered around $74.
- Israel's attack on Iran's South Pars gas field led to the closure of a production platform after previous strikes on Iran's nuclear sites.
- The tension between Israel and Iran has caused oil prices to spike, with markets reacting and investors turning to safe-haven assets like gold.
- Concerns mount over the potential blocking of the Strait of Hormuz as a significant route for oil shipments, with fears of price escalation if disruption occurs.
- Unrest in the Middle East, particularly at the Strait of Hormuz, remains a focal point for the oil market, with worries of supply disruptions and price volatility.
- Although Trump suggests a possible agreement between Israel and Iran, uncertainties persist amidst ongoing conflicts and potential implications on oil markets.
- Despite the confrontation, Iran's oil export infrastructure remains intact, but oil prices have regained lost ground due to various geopolitical factors.
- Market indicators reflect concerns regarding immediate supply risks and the likelihood of an extended conflict in the Middle East.
- Prices of oil have seen significant gains, with Brent for August rising 2.0% to $75.68 a barrel and WTI for July climbing 2.0% to $74.42 a barrel.
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Bloomberg Quint
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Trump Says Israel, Iran May Need To ‘Fight It Out’ Before Deal
- President Trump stated that Israel and Iran may need to continue fighting before reaching a peace deal.
- Trump expressed optimism about the possibility of a deal between the two nations.
- Israel is determined to destroy Iran's nuclear capabilities, leading to escalating conflict.
- Iran retaliated with drone and missile attacks after Israel struck Tehran.
- Tensions between Israel and Iran could influence discussions at the upcoming G-7 summit.
- Financial markets reacted to the conflict, with oil prices rising.
- The US has emphasized it is not involved in Israel's offensive actions.
- The potential for US military involvement against Iran remains uncertain.
- Trump vetoed an Israeli plan to assassinate Iran's Supreme Leader.
- Trump compared his efforts in dealing with Ukraine-Russia conflict to handling a sports match.
- He emphasized allowing them to "fight for a little while" before intervening.
- Trump's remarks align with his frustration over Russian President Putin's stance on negotiations.
- There are doubts about Israel's ability to destroy key Iranian nuclear facilities.
- The conflict between Israel and Iran continues to escalate.
- Trump acknowledges the possibility of US involvement in the conflict in the future.
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Bloomberg Quint
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Israel, Iran Keep Attacks On Each Other As Fighting Grinds On
- Israel and Iran continue attacks on each other, with 224 people killed in Iran and 14 in Israel amidst fears of a wider conflict.
- Iran fired drones and missiles, while Israel targeted Tehran and killed a key military official.
- Tensions escalated on Friday with surprise Israeli attacks on Iranian sites, showcasing Israeli air superiority.
- US President Trump called for a peace deal between Iran and Israel amid the conflict.
- Financial markets reacted negatively, with equities dropping and oil prices rising.
- Iran reported an explosion at a gas plant, and damage to its uranium-conversion facility was confirmed by the IAEA.
- Israel aims to halt Iran's nuclear ambitions, while Iran considers last-resort options amidst escalating tensions.
- Global leaders express concern over the conflict potentially spiraling out of control.
- Germany, France, and the UK are ready to negotiate with Iran over its nuclear program.
- Uncertainty persists over the conflict's outcome and potential involvement of the US.
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Bloomberg Quint
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Stocks To Watch: Bajaj Finance, Yes Bank, IREDA, Gensol, IndusInd Bank, Birla Corp, Tata Motors
- Stocks like Yes Bank, NTPC, IndusInd Bank, Birla Corp, and Tata Motors are expected to be actively traded on Monday following recent announcements.
- Yes Bank received an upgrade in its ratings from Moody's, driven by an improvement in its credit profile.
- IREDA's insolvency application against Gensol Engineering arm Gensol EV was admitted by NCLT.
- Moody's raised Jaguar Land Rover's rating, and Arkade Developers announced a new project in Maharashtra.
- NTPC plans to raise funds through NCDs, started operations at a power project, and Authum Investment signed an agreement for share acquisition.
- IOL Chemicals received certification for its product Acetic Anhydride for export to EU countries.
- Birla Corp was declared as a preferred bidder for a mining lease, and RBI approved appointments at IndusInd Bank.
- Honeywell Automation and Tata Technologies will go ex-trade on Monday.
- Bajaj Finance underwent a stock split and bonus issue recently.
- The news includes updates on various companies' ratings, projects, financial activities, and regulatory approvals.
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Bloomberg Quint
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Stock Market Today: All You Need To Know Going Into Trade On June 16
- Stocks rose on Monday with a positive start in Indian markets and safe-haven assets like gold and oil in demand amid Israel-Iran tensions.
- India's benchmark indices ended the week lower, with Nifty 50 and Sensex falling, and foreign portfolio investors selling stocks for the third straight session.
- US markets fell as tensions escalated between Israel and Iran, with S&P 500, Nasdaq 100, and Dow Jones Industrial Average declining.
- Notable corporate actions included ITC acquiring Sresta Natural Bioproducts, Moody's upgrading Yes Bank ratings, SpiceJet's revenue decline, and NTPC's raising funds via NCDs.
- Other companies in focus were Natco Pharma, Tata Motors, Arkade Developers, IndusInd Bank, Vedanta, Syngene International, Sun Pharma, and more.
- IPO offering by Oswal Pumps was subscribed, while block deals involved Nazara Technologies, Jubilant FoodWorks, Shalby, and insider trades were seen in companies like NCL Industries and Usha Martin.
- Trading tweaks included price band changes, stocks entering or exiting ASM framework, ex-dividend and ex-bonus issues, and F&O cues showed Nifty June Futures down with certain securities in the ban period.
- In the money market, the Indian rupee closed lower against the US dollar, and the yield on the benchmark 10-year government bond remained flat.
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Massivelyop
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Lionhearts is an upcoming strategy MMO that spun out of a popular Roblox game
- Lionhearts, an upcoming strategy MMO, originated from a popular Roblox game and features a large-scale strategy set during the Crusades.
- Developed by Credenzio Studios, Lionhearts will be an independent game with Unreal 5 graphics and a persistent world mirroring Europe during the Crusades.
- The game offers historically inspired activities, 66 professions, and 14 guild types for players to choose from, focusing on building power and influencing battles against other factions.
- Lionhearts will have a single, open world where each location exists in only one instance, with real players controlling positions of power like lords and kings.
- 12 player-run kingdoms and 4 military orders will compete for dominance in the Holy Land and beyond, with a dynamic struggle for land and influence.
- The game limits NPC interaction, relying heavily on interactions between players and offering tasks even for offline characters.
- The future Kickstarter page hints at a detailed world with seamless servers and emphasizes player-driven dynamics in wars, diplomacy, and politics.
- While contemplating the game, questions arise about the dynamics of having numerous players aspiring to be lords and the arrangement of different power roles.
- Screenshots and detailed information can be viewed on the Kickstarter page before the official launch, highlighting the game's unique features and gameplay.
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Bloomberg Quint
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Traders ‘Hold Their Nerve’ To Ride Bumpy Emerging Market Rally
- Money managers are optimistic about the continuing rally in emerging markets, fueled by fading trade concerns and potential Fed interest rate cuts.
- Emerging markets are experiencing a strong performance, with currencies, stocks, and bonds showing positive trends, despite looming US policy risks and geopolitical tensions.
- Investors are encouraged by the rally in emerging markets, with inflows into EM bond funds increasing significantly.
- Some money managers are cautious about potential risks such as US debt ceiling negotiations and ongoing trade uncertainties.
- Traders are advised to remain cautious and monitor developments closely, especially regarding US-China trade relations and global economic conditions.
- Asset managers are diversifying portfolios to include Asian currencies like the Taiwan dollar and Malaysian ringgit, while also considering the impact of geopolitical events on emerging market assets.
- Overall, despite the current positive momentum, some analysts warn of potential pullbacks and advise investors to manage risks prudently.
- Upcoming events to watch include interest rate decisions by Brazil and Chile, as well as monetary policy meetings in several other countries.
- Inflows into emerging markets suggest growing investor confidence, although uncertainties such as US-China trade negotiations and geopolitical tensions remain.
- Money managers are cautious about potential risks that could impact EM assets, such as US debt ceiling negotiations and trade policy uncertainties.
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Bloomberg Quint
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Adani Group's Haifa Port Operations Normal: Group CFO
- Adani Group's Haifa port in Israel was unharmed by an Iranian missile attack, with cargo operations running smoothly, confirmed by the Group CFO, Jugeshinder (Robbie) Singh.
- Iran struck Israel's Haifa port and an adjacent oil refinery in retaliation to Tel Aviv's recent actions, but the Haifa port remained unaffected by the attack.
- Reports of damage to the cargo facility were denied by Adani Enterprises.
- Cargo operations at the Adani-operated Haifa port are normal, with eight ships currently in the port.
- Haifa port is a significant maritime hub handling more than 30% of Israel's imports; Adani Ports owns a 70% share in the port.
- Haifa's cargo volume accounts for less than 2% of the total handled by Adani Ports and SEZ, contributing about 5% of the revenue with a total cargo volume of 10.57 million tonnes.
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