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New Delhi: Markets regulator <keyword id="19901201" type="General" weightage="100" keywordseo="Sebi" source="keywords">Sebi</keyword> has proposed allowing Real Estate Investment Trusts (<keyword id="20186402" type="General" weightage="20" keywordseo="REITs" source="keywords">REITs</keyword>), Small and Medium REITs (SM REITs) and Infrastructure Investment Trusts (<keyword id="20186403" type="General" weightage="20" keywordseo="InvITs" source="keywords">InvITs</keyword>) to use <keyword id="21737868" type="General" weightage="20" keywordseo="interest-rate-derivatives" source="keywords">interest rate derivatives</keyword> for <keyword id="23778373" type="General" weightage="20" keywordseo="hedging-risk" source="keywords">hedging risk</keyword>. Also, the regulator has suggested approving locked-in units for REITs and InvITs to be transferred among sponsors and their groups, similar to rules for promoters in listed companies, to help sponsors manage their holdings without compromising "skin in the game". Additionally, Sebi has suggested permitting fixed deposits to be considered as cash equivalents when calculating leverage for REITs and InvITs, clarifying credit rating requirements for REIT and InvIT borrowings, and setting a timeline for filling vacancies on their boards and expanding the asset base for REITs and SM REITs. The regulator has also proposed to permit REITs to invest in liquid mutual funds. It has suggested measures to facilitate ease of doing business for REITs and InvITs, along with investors' protection. According to its consultation paper, Sebi is considering allowing REITs and InvITs to hedge against interest rate fluctuations by using derivatives like interest rate swaps. This could help stabilise cash flows, reduce risks, and protect unitholder interests, especially for long-term infrastructure projects. It is also proposed to define "Common Infrastructure" for REIT regulations. To enhance business flexibility for REITs, it has been proposed to clarify that facilities like power plants, heating/cooling systems, water treatment, and waste treatment plants -- serving one or more REIT assets -- will qualify as "common infrastructure" under REIT rules. This applies even if these facilities are not located within a single project due to their technical requirements. These facilities should supply and be used exclusively by REIT assets. For power plants, however, any excess power can be sold to the state utility/grid as per regulations, with any credits or payments going towards the benefit of REIT assets. To improve transparency, it has been proposed to amend the governance norms for quarterly reporting of InvITs. Currently, quarterly results for the investment manager and its business segments are presented to the investment manager's board, but there is no direct requirement for InvITs to report their performance. The proposed amendment would clarify that quarterly results should specifically reflect the performance of the InvITs themselves, not just the investment managers. This change aligns InvIT regulations with REIT regulations, where the focus is on the quarterly results of the REIT itself. Also, it has been suggested to align the composition of NRCs in REIT and InvIT managers with listed companies under the LODR regulations. Currently, all NRC members for REITs and InvITs must be independent directors. The proposal allows a mix of independent and non-executive directors, similar to listed companies. To enhance investors' protection, Sebi has suggested reviewing conditions for InvITs to borrow beyond the 49 per cent limit, assessing REIT investments in unlisted equity shares and outlining the roles and responsibilities of trustees for REITs, InvITs, and SM REITs. In a separate consultation paper, the regulator has proposed a regulatory framework for "restricted return InvITs" to provide infrastructure investors with predictable returns by setting limits on both upside gains and downside protection. The proposed framework for restricted return InvITs is designed to provide investors with structured returns, capped at both minimum and maximum levels to offer stability. Restricted return InvITs would include downside protection -- a minimum assured return -- and/or an upside restriction, a cap on returns -- depending on the arrangement. These investments would be limited to sophisticated investors who meet high minimum investment thresholds, with each unit priced at a minimum of Rs 500 crore and total InvIT assets of at least Rs 50,000 crore. Investors would be required to sign a waiver and undertaking form, acknowledging their understanding of the structured returns and risks involved, including the transfer of any excess returns to the sponsors. This waiver should be submitted before purchase in both primary and secondary markets, with compliance overseen by merchant bankers or brokers. The Securities and Exchange Board of India (Sebi) has sought public comments on both consultation papers by November 13.

Sebi proposes to allow InvITs, REITs, SM REITs to use interest rate derivatives for hedging risk

<ul class="summary-list"><li>Billionaire CEO Howard Lutnick is planning to launch a platform for interest-rate futures trading, WSJ reported.</li><li>The platform, called FMX Futures Exchange, would rival contracts listed on the world's leading deviates exchange, the CME Group.</li></ul>Billionaire Howard Lutnick, CEO of Cantor Fitzgerald, is launching a new exchange to trade futures linked to US interest rates, The Wall Street Journal <a href="https://www.wsj.com/finance/commodities-futures/howard-lutnick-ceo-interest-rate-futures-market-3d191852?mod=finance_lead_pos5">reported</a>.FMX Futures Exchange, which plans to go up in mid-2024, will list futures linked to US bond yields and the Secured Overnight Financing Rate (SOFR). Most interest-rate futures today — about 99% of the trading volume — are traded on the Chicago Mercantile Exchange, WSJ said, citing FIA data. The exchange is now the world's most valuable exchange operator, boasting a $73 billion market cap.That means Lutnick's venture would be up against the world's leading derivatives marketplace. FMX's contracts would have to compete with the trillions of dollars worth of interest-rate futures traded on the CME every day. But Lutnick believes the new exchange will have an edge over CME, offering perks like a lower cost of trading.Interest rate futures work like any other futures contract, allowing traders to bet on the direction of rates for everything from the US 10-year Treasury to lending benchmarks like SOFR to the federal funds rate. There have been efforts to rival the CME with a market for interest-rate futures before — like NYSE Euronext and ELX Futures — but the Chicago-based exchange is still on top. One effort was led by Lutnick himself back in 2013, when he launched Fenics UST, a trading platform for government bonds.The Commodity Futures Trading Commission approved FMX's application to launch a new trading platform on Monday."With this CFTC approval, we will combine our leading Fenics UST cash Treasury platform with our FMX Futures Exchange to deliver competition across the CME's U.S. interest rate complex," Lutnick said in a <a href="https://www.bgcg.com/wp-content/uploads/2024/01/BGCGroupAnnouncesCFTCApprovalforFMXFuturesExchange-vF.pdf" target="_blank" rel="noopener">release</a>. "For the first time, the most valuable futures market in the world will have real competition."

Billionaire CEO plans to launch a new exchange to trade interest-rate futures

On Monday, there was a noticeable increase in gold rates across India. In Delhi, the current price for 10 grams of 24-carat gold stands at ₹75,310. Meanwhile, on the MCX, gold contracts for June delivery experienced a climb of ₹ 540, settling at ₹ 74,610 per 10 grams. The increase in gold prices today is believed to be influenced by the uncertainties over interest rate cuts later this year and currency value fluctuations. Here is an extensive daily list to give you the most recent information on gold prices in India's key cities. <h2>Check gold rates in different cities on 20th May 2024</h2><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">City </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22-Carat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">24-Carat </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹69,050 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹75,310 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 69,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,280 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bengaluru </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hyderabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ahmedabad </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,950<a href="https://www.goodreturns.in/gold-rates/ahmedabad.html">l</a> </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,210 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Pune </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Surat </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,950 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,210 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nagpur </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kerala </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vijayawada </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 68,900 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 75,160 </td></tr></tbody></table> “COMEX Gold prices remained stable close to $2387 per ounce, indicating little fluctuation, but are positioned to record a second consecutive weekly increase. This trend is attributed to the recent release of US economic data, which has led to increased speculation of potential rate cuts. Despite this optimistic outlook, any significant upward movement in gold prices is restrained by the consistent stance of Federal Reserve officials, who have reiterated their commitment to maintaining interest rates at elevated levels for an extended period. While there is anticipation surrounding the possibility of rate adjustments, Fed officials have not openly signaled any immediate changes, thus tempering the bullish sentiment in the gold market,” says Kaynat Chainwala, Senior Manager – Commodity Research at Kotak Securities. The Indian equity market started the week on a bleak note, considering the pessimistic developments of the week went by. The benchmark index slipped towards the previous swing low, coinciding with the 100 DEMA on the daily chart, but the bulls took care of the same and made a strong recovery to eventually settle the week above all its major EMAs on the daily time frame. It had been a robust week for the bulls, with Nifty50 soaring nearly 2 percent and settling above the 22450 zone, says Osho Krishan, Sr. Analyst - Technical &amp; Derivative Research, Angel One. The Indian equity market experienced a strong recovery this week, with Nifty 50 rising nearly 2% and closing above 22450, Overtaking all major EMAs. This rebound followed a dip to the previous swing low, coinciding with the 100 DEMA. The bulls' dominance was marked by broader market participation and sectoral rotations, with the MIDCAP index reaching an all-time high. In Spite of elevated volatility, the market sentiment turned positive. Key support levels are at 22350-22300 and 22200, while resistance stands at 22600-22650 before potentially reaching the peak of 22800. However, the participation of BANKNIFTY is essential for continuous progress, and market movements may be influenced by voting participation, suggesting cautious positioning. Gold rates experience daily fluctuations due to a myriad of short- and long-term factors. These include considerations such as shifts in supply and demand, economic indicators, geopolitical developments, currency movements, investor sentiment, and more. Given the dynamic nature of the precious metals market, effective monitoring and analysis of pricing data are crucial for investors and traders to make informed investment decisions. While these data points offer valuable insights into market trends and factors driving price movements, investors are advised to perform their own due diligence before making any investment decisions. As the day progresses, it is important for investors to remain vigilant and monitor gold rates closely for any emerging trends or market developments. By staying informed about these daily price fluctuations, investors can identify potential trading opportunities and make well-informed investment decisions. For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Gold Rate Today (May 20, 2024): Prices in Major Indian Metropolitan Regions

On Monday, gold rates saw a decline across India amid the exit poll results. In Delhi, 10 grams of 24-carat gold would cost you ₹₹ 72,260 today. Meanwhile, on the MCX, gold contracts for June delivery traded lower ₹ 440 at ₹ 72,110 per 10 grams. Here is an extensive daily list to give you the most recent information on gold prices in India's key cities. <h2>Check gold rates in different cities on 3rd June 2024</h2><table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><thead><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">City </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">22-Carat Gold Rate </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">24-Carat Gold Rate </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Delhi </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,250 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,260 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Mumbai </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Kolkata </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Chennai </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,660 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,720 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Bengaluru </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Hyderabad </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Ahmedabad </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,150 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,160 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Pune </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Surat </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,150 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,160 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Nagpur </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Vijayawada </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr><tr><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">Kerala </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 66,100 </th><th style="border-width: 1pt; border-style: solid; border-color: rgb(0, 0, 0); padding: 5pt; overflow: hidden; overflow-wrap: break-word;">₹ 72,110 </th></tr></thead></table> COMEX gold prices recorded a slight increase, with the last trade price at $2,349.90, reflecting a rise of $4.10 or 0.17%. Throughout the session, the prices fluctuated, reaching a high of $2,354.00 and a low of $2,334.80, starting the day at $2,348.00. This performance demonstrates sustained investor interest, influenced by fluctuating market conditions. The recent exit poll results, signaling government stability, sparked a surge in key market indices, hitting record highs with over 3-4 percent gains. The bullish sentiment replaced earlier uncertainty, driven by anticipation of favorable election outcomes. Technical analysis points to key support levels around 23100-23000, with potential for further gains towards 23500. While sentiment is bullish and volatility eased, caution is advised, with traders urged to avoid aggressive positions due to potential market swings on election day. Emphasizing on the exit poll results Osho Krishan, Sr. Analyst - Technical &amp; Derivative Research, Angel One Ltd. stated that “The Exit poll outcome cheered market sentiments, skyrocketing key indices to their respective lifetime high levels. Implied volatility, a measure of market uncertainty, continues to hover at an elevated zone. The actual outcome is expected to shed light on the recent market move. Given the eventful week with the election outcome and RBI MPC result, it's best to take a cautious approach and maintain a practical view. The overall tone seems to support the bulls, and we expect dips to bode well in the near future.” Gold is considered a dependable safeguard against inflation. This is due to its historical pattern of maintaining or increasing in value during inflationary periods. Consequently, gold is a favored choice for investors aiming to protect their wealth from the negative impacts of inflation. This characteristic makes it a particularly appealing investment for those looking to preserve their purchasing power in times of economic uncertainty. Gold prices exhibit daily fluctuations influenced by a diverse array of factors spanning short and long-term dynamics. These encompass alterations in supply and demand dynamics, economic indicators, geopolitical events, currency fluctuations, investor sentiment, and more. Navigating the dynamic precious metals market necessitates vigilant monitoring and in-depth analysis of pricing data. For investors and traders, staying abreast of these multifaceted influences is imperative for making well-informed investment decisions. Effective comprehension and interpretation of these variables enable stakeholders to capitalize on opportunities and mitigate risks within the gold market's ever-evolving landscape. The provided data points furnish significant insights into market trends and the drivers behind gold price fluctuations, aiding investors in navigating the market effectively. However, it is advisable for investors to conduct their own due diligence before reaching investment decisions. Throughout the day, investors are encouraged to stay vigilant and closely track gold rates for emerging trends and market developments. By remaining informed about these daily price fluctuations, investors can spot potential trading prospects and make informed investment choices, thereby enhancing their investment strategies. For daily updates and in-depth analysis of gold rates, continue following our coverage on Business Insider India. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. Rates are subject to change from time to time and across multiple geographical locations. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Gold rate today (3rd June 2024): Current gold prices in prominent Indian cities

<ul class="summary-list"><li>The Federal Reserve is making its next interest rate decision this week.</li><li>It's expected to pause interest rate hikes.</li></ul>The year is coming to a close, and it looks like the Federal Reserve's war against inflation is finally easing up.On Wednesday, the Federal Open Market Committee is expected to announce its next interest rate decision, and a hike probably isn't in the cards. The <a target="_blank" href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html">CME FedWatch Tool</a>, which analyzes various derivatives prices to estimate probabilities for interest rate changes, predicted a 98% chance the Fed will continue to pause rate hikes, with a 2% chance it'll cut rates, as of Monday afternoon.In September, <a target="_blank" href="https://www.businessinsider.com/did-fed-pause-raise-interest-rate-hikes-september-inflation-recession-2023-9">the Fed paused interest rate hikes</a> as it continued to receive promising data on the country's economic recovery. Since then, the good news has continued — the US <a target="_blank" href="https://www.businessinsider.com/jobs-unemployment-rate-labor-market-september-report-2023-10">added 336,000 jobs</a> in September, and the Consumer Price Index, which measures inflation, <a target="_blank" href="https://www.businessinsider.com/inflation-economic-outlook-cpi-consumer-price-index-september-data-report-2023-10">grew 3.7% year-over-year in the same month</a>, holding steady from August and well below its high point last year.Nick Bunker, economic research director for North America at the Indeed Hiring Lab, told Insider earlier in October that it appears the Fed is "less convinced that the labor market needs to significantly deteriorate for inflation to get under control."The <a target="_blank" href="https://www.federalreserve.gov/monetarypolicy/files/fomcprojtabl20230920.pdf">Fed's September economic projections</a> showed the median FOMC member expects a 4.1% unemployment rate in 2024 and 2025, down from 4.5% in the committee's previous projections from June."Maybe they are more of the view that the labor market can moderate and be an ally in the fight against inflation," Bunker said, adding that that was evident in the jobs report released in October.Bunker pointed to September's low unemployment rate of 3.8% and moderating wage growth.Fed Chair Jerome Powell said during the September press conference that as the central bank continues its mission of reaching its 2% inflation target, "we're fairly close to where we need to get.""We need to get to a place where we're confident that we have a stance that will bring inflation down to 2% over time," Powell said. "That's what we need to get to, and we've been moving toward it. As we've gotten closer to it, we've slowed the pace at which we've moved. I think that was appropriate. And now that we're getting closer, we have the ability to proceed carefully."While the economic data continues to reflect significant pandemic recovery, Americans still feel a strain on their wallets. <a target="_blank" href="https://www.businessinsider.com/student-loan-company-mohela-late-statements-borrowers-biden-withholding-pay-2023-10">Federal student-loan payments officially resumed</a> in October after an over three-year pause, meaning millions of borrowers now have less money to put back into the economy. On top of that, the New York Federal Reserve's <a target="_blank" href="https://www.newyorkfed.org/microeconomics/hhdc">quarterly report</a> on household debt released in August found credit card debt reached a record-high of $1 trillion.Powell has not indicated whether a interest rate cut will come this year to get consumers further relief. However, Greg McBride, chief financial analyst at Bankrate, said in a Monday statement that "even if the Fed proves to be done raising interest rates, we're still a long way from them beginning to cut rates.""For borrowers, interest rates staying higher for a longer period underscores the urgency to pay down and pay off costly credit card debt and home equity lines," McBride said.Even if interest rate cuts are not on the horizon anytime soon, administration officials are confident Americans will not face a recession as they enter 2024. Following the Bureau of Economic Analysis report last week that found gross domestic product <a target="_blank" href="https://www.businessinsider.com/gdp-recession-outlook-economy-gross-domestic-product-third-quarter-2023-10">rose at an annualized rate of 4.9% in the third quarter</a>, Treasury Secretary Janet Yellen <a target="_blank" href="https://www.marketwatch.com/story/yellen-says-she-doesnt-see-signs-of-recession-after-gdp-report-2f816869">said</a> at a Bloomberg event that "you don't really see any sign of recession here.""What we have looks like a soft landing with very good outcomes for the US economy," she said.Joelle Gamble, deputy director of the White House National Economic Council, told Insider in an interview after the recent GDP report that "all the data is pointing towards an economy that is growing steadily."Gamble pointed out robust growth in recent GDP reports, "more and more people entering the labor market," and cooling inflation.But with the ongoing wars in Israel and Ukraine, along with a possible government shutdown next month, uncertainty with the economy's progress remains.

The Fed probably won't cut interest rates just yet — but its next move is expected to be good for Americans

<ul class="summary-list"><li>High mortgage rates make it difficult for prospective homebuyers to enter the market.</li><li>Mortgage rates could decline if the Federal Reserve cuts interest rates next year.</li></ul>High mortgage rates have effectively frozen the<a href="https://markets.businessinsider.com/news/commodities/housing-market-home-prices-frozen-mortgage-rates-interest-affordability-fed-2023-5"> US housing market</a>. And while lower rates could be on the horizon, Americans might have to wait awhile.The average rate for a 30-year<a href="https://www.businessinsider.com/personal-finance/average-mortgage-interest-rate"> fixed-rate mortgage</a> is over 7%, up from roughly 3% at the beginning of 2022. This has deterred prospective <a href="https://www.businessinsider.com/typical-american-trying-to-buy-a-home-2023-9">first-time homebuyers</a> from taking the plunge and made existing homeowners reluctant to sell their homes and buy another — they'd rather stick with the super-low rates they already locked in. Meanwhile, the lack of people selling their homes has contributed to a shortage of housing inventory and helped<a href="https://markets.businessinsider.com/news/commodities/housing-market-mortgage-rates-low-inventory-listings-homes-for-sale-2023-6"> prop up prices</a>, which may not<a href="https://markets.businessinsider.com/news/stocks/zillow-housing-market-home-price-forecast-affordability-crisis-inventory-shortage-2023-8"> drop anytime soon</a>. While these factors serve as deterrents for prospective buyers, interest rates may not stay this high forever.The Federal Reserve has raised interest rates to combat inflation, but many<a href="https://www.businessinsider.com/powell-jackson-hole-next-interest-rate-decision-fed-inflation-2023-8"> experts predict</a> it will move more cautiously — and perhaps even<a href="https://www.businessinsider.com/fed-u-turn-rate-cuts-yearend-recession-jpmorgan-asset-cio-2023-9"> cut rates</a> — over the next year, in response to slowing inflation and the prospect of a<a href="https://www.businessinsider.com/us-economic-outlook-2024-risks-signs-struggle-torsten-slok-2023-9"> weakening US economy</a>.While declining interest rates wouldn't directly cause<a href="https://www.businessinsider.com/personal-finance/how-does-fed-impact-mortgage-rates"> mortgage rates to fall</a>, the two tend to move in the same direction. That's why prospective homebuyers would be wise to keep tabs on when the Federal Reserve's first interest-rate cut might come — even though rates are<a href="https://markets.businessinsider.com/news/commodities/high-mortgage-rates-housing-market-real-estate-outlook-homebuyers-moodys-2023-7"> unlikely to return</a> to what they were a few years ago. Business Insider compiled 10 expert predictions for when the first rate cut would come. The predictions are listed chronologically — experts who expect a rate cut to come soonest are listed first.<h2>February</h2>In August, Preston Caldwell, a Morningstar senior US economist,<a href="https://affiliate.insider.com?h=ac9e014d5b7a75ceddab0a4c6bc811f89267c4b3272a69441eda77cdf4682e56&amp;postID=650352fdc867be69cd78fe63&amp;postSlug=interest-rates-mortgage-loan-when-will-federal-reserve-cut-2023-9&amp;site=bi&amp;u=https%3A%2F%2Fwww.morningstar.com%2Fmarkets%2Fwhen-will-fed-start-cutting-interest-rates" target="_blank" rel="noopener"> wrote</a> in a note that he expected the Fed to start cutting interest rates in February. "The Fed will pivot to monetary easing as inflation falls back to its 2% target and the need to shore up economic growth becomes a top concern," he wrote.<h2>By March of next year</h2>Earlier this month, a team led by UBS economist Arend Kapteyn and strategist Bhanu Baweja wrote in a research note that they expect the Federal Reserve to <a href="https://www.businessinsider.com/stock-market-outlook-2024-recession-fed-interest-rate-cuts-ubs-2023-11">cut interest rates beginning next March</a>. "One of the key features of UBS's forecast is the very pronounced Fed easing cycle seen unfolding from March 2024 onwards," they wrote. They added that the Fed's cuts would be "a response to the forecasted US recession in Q2-Q3 2024 and the ongoing slowdown in both headline and core inflation." <h2>Not before April</h2>In August, David Einhorn, the founder and president of the hedge fund Greenlight Capital, wrote that he didn't expect the Fed to cut<a href="https://markets.businessinsider.com/news/stocks/einhorn-stock-market-outlook-inflation-interest-rates-greenlight-q2-letter-2023-8"> interest rates</a> until next year."We continue to believe that the market is over-anticipating rate cuts and we have extended that view through March of 2024," he said. <h2>May </h2>Following the release of August's inflation report, KPMG US's chief economist, Diane Swonk,<a href="https://www.kpmg.us/insights/economic-data-analysis/august-2023-consumer-price-index-report.html" target="_blank" rel="noopener"> wrote</a> in a note that the Federal Reserve might not be done raising interest rates. "The Fed needs to see quarters, not months, of fundamentally cooler inflation to cut rates. We are not even close," she wrote. "Our forecast for the first rate cut in May 2024 holds."Separately, according to CME Group's FedWatch<a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html" target="_blank" rel="noopener"> tool</a>, which calculates the odds of different Fed interest-rate moves based on what traders are doing in derivatives markets linked to those rates, there's a 19% chance of a rate cut in March. In May, the odds jump to 82.3%. <h2>Between April and June</h2>In a September Reuters<a href="https://www.reuters.com/markets/us/fed-leave-rates-unchanged-sept-20-cut-unlikely-before-q2-2024-2023-09-12/#:~:text=BENGALURU%2C%20Sept%2012%20(Reuters),economists%20in%20a%20Reuters%20poll." target="_blank" rel="noopener"> poll</a> of 97 economists, the consensus prediction was that the Fed wouldn't cut interest rates until the April to June period."Tight labor and housing markets present upside risk to inflation," Andrew Hollenhorst, the chief US economist at Citi,<a href="https://www.reuters.com/markets/us/fed-leave-rates-unchanged-sept-20-cut-unlikely-before-q2-2024-2023-09-12/#:~:text=BENGALURU%2C%20Sept%2012%20(Reuters),economists%20in%20a%20Reuters%20poll." target="_blank" rel="noopener"> told</a> Reuters. "That means that absent a recession, policymakers are likely to keep policy rates on hold well into 2024."<h2>The 2nd quarter of 2024</h2>In a September "Goldman Sachs Exchanges" podcast episode, Goldman Sachs' chief US economist, David Mericle, said he projected the Fed's first<a href="https://www.businessinsider.com/fed-economy-outlook-inflation-recession-goldman-sachs-interest-rates-risk-2023-9"> interest-rate cut</a> to be in the second quarter of 2024."And so the best guess is that we'll get back to 2%," he said, regarding inflation. "But by no means are we definitively there or even close enough. So too soon to say that we've beaten this problem." <h2>Between May and the end of 2024</h2>In September, economists from some of North America's biggest banks said they expected the Fed to hold off on cutting rates until sometime between May and the end of next year. "Given both demonstrated and anticipated progress on inflation, the majority of the committee members believe that the Fed's tightening cycle has run its course," Simona Mocuta, the chief economist of State Street Global Advisors, said. <h2>The 2nd half of 2024</h2>In a September<a href="https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/investment-economic-outlook-sept-2023.html" target="_blank" rel="noopener"> note</a>, Vanguard's global economics and markets team wrote that it didn't expect the Fed to start cutting interest rates until the second half of 2024."We believe the catalyst for easing would be either a recession or inflation falling while economic activity remains strong (a 'soft landing')," the team<a href="https://corporate.vanguard.com/content/corporatesite/us/en/corp/articles/investment-economic-outlook-sept-2023.html" target="_blank" rel="noopener"> said</a>.<h2>Later next year</h2>Jeff Morton, a portfolio manager at DWS Group, said in September that<a href="https://markets.businessinsider.com/news/stocks/recession-outlook-federal-reserve-rate-hike-august-cpi-inflation-investors-2023-9"> interest-rate cuts</a> were unlikely to come until next year. "We have pushed back our cut forecast to later next year, at the pace of one cut per quarter barring any severe recession," he said.

US homebuyers are waiting for the Fed to start cutting interest rates. Here's when 10 experts say it's going to happen.

<ul class="summary-list"><li>Federal fund futures suggest traders expect no rise in US rates for several years, in contrast to the optimism reflected in the Treasury curve, DataTrek said.</li><li>Fed fund futures imply a rate of 0.045% by mid-2022, compared with a current market rate of 0.09%, despite the steepening in the Treasury curve that reflects growing economic optimism.</li><li>"The short answer to the question "are <keyword id="2983272" type="PERSON" weightage="60" keywordseo="fed-funds">Fed Funds</keyword> beginning to think that the US economy will be strong enough to see a rate hike before mid-2022?" is a resounding, 100% 'NO'," DataTrek analyst and co-founder Nicholas Colas said in a note. </li></ul>The US Treasury market suggests investors are betting on a swift improvement in the economy that could prompt the Federal Reserve to put up <keyword id="6371181" type="UNKNOWN" weightage="60" keywordseo="interest-rates">interest rates</keyword> before 2023, as the central bank has outlined could mark the first rise.But data analysts DataTrek say US futures show fixed-income futures traders are betting on no such thing."The short answer to the question "are Fed Funds beginning to think that the US economy will be strong enough to see a rate hike before mid-2022?" is a resounding, 100% 'NO'," DataTrek analyst and co-founder Nicholas Colas said in a note on Monday. The longest-dated Fed funds futures contract with traded volume is May 2022. DataTrek said. At a closing price on Friday of 99.055, this implied a <keyword id="358251" type="ORGANIZATION" weightage="60" keywordseo="Fed-Funds-Rate">Fed funds rate</keyword> of 4.5 basis points at that point, while Friday's actual Fed funds rate was 9 basis points.Read More: <a href="https://www.businessinsider.com/stock-market-crash-expert-warns-financial-implosion-67-percent-plunge-2020-10">'The road to financial implosion': A notorious market bear says the Fed has set the stage for a 67% stock plunge — and warns of zero-to-negative returns over the next 12 years</a>Contracts between October 2020 and April 2022 imply Fed Funds will be between 8-9 basis points through the end of 2020 and 4-8 basis points from January 2021 to April 2022, DataTrek said.DataTrek contrasted the Fed funds futures curve with 2-year <keyword id="114127" type="COMPANY" weightage="60" keywordseo="Treasuries">Treasuries</keyword>, which tend to be most sensitive to the shift in expectations among traders for the path of US <keyword id="6357126" type="DEFINITION" weightage="60" keywordseo="Monetary-Policy">monetary policy</keyword>.Two-year Treasury yields have edged up to 0.154% this week, from August's lows of 0.107%, but have barely moved for the past few months, since hitting a high of 0.22% in early June. "That was essentially "peak confidence" that the US economy was recovering quickly," DataTrek said. "A 0.16% effective yield (doesn't) impute anything more than two years of Fed Funds similar to today's 0-25 basis point range."<div type="image" title="Daily US 2-year Treasury yields" height="772" width="1587" msid="78873452" hostid="261"></div>Meanwhile, yields on the benchmark 10-year Treasury have risen to around 0.813% currently, from 0.505% in early August, marking a rise of almost 30 basis points, while the 30-year yield has risen by almost 50 basis points in that time to around 1.609%.The widening gap between 2- and 30-year yields, which now stands at around 185 basis points, up from 150 basis points in early June, would suggest that fixed-income traders are betting on a material improvement in the US economy and that the shorter end of the Treasury curve will soon catch up. But, DataTrek points out, this is not necessarily the case."As much as the long end of the Treasury yield curve is starting to signal more market optimism about a US economic recovery, we're nowhere near escape velocity for the short end of the curve," Colas said.Read More: <a href="https://www.businessinsider.com/how-to-trade-election-democrat-focused-strategies-columbia-threadneedle-2020-10">An investing shop overseeing $476 billion analyzed 650 stocks to fine-tune its election strategy. The firm's experts break down the trades to make around a Biden win — and explains how investors can keep portfolios safe.</a>

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