Blinkit Shifts to Variable Commission Model to Boost Profitability Amid Quick Commerce Battle

Blinkit Shifts to Variable Commission Model to Boost Profitability

Zomato-owned quick commerce platform Blinkit is set to implement a significant change in its revenue model, moving from fixed commission rates to a variable structure based on product selling prices. This strategic pivot, scheduled to take effect from March 13, aims to improve the company's take rate amid growing competition in India's rapidly expanding quick commerce sector.

New Commission Structure Details

Under the current system, Blinkit charges sellers and brands a fixed commission ranging from 3% to 18% depending on product categories. The new variable model will adjust commission rates based on the selling price of items, potentially allowing the company to optimize revenue across different price points and product types.

This commission restructuring comes as a strategic response to financial pressures, with Blinkit reporting an adjusted EBITDA loss of ₹103 crore in Q3 FY25, a significant increase from the ₹8 crore loss recorded in the previous quarter.

Industry-Wide Commission Adjustments

Blinkit isn't alone in revising its commission structure. Competitor Swiggy Instamart is reportedly planning to increase its commission rate from 15% to approximately 20-22%, indicating an industry-wide movement toward improved unit economics in the quick commerce space.

These adjustments reflect the growing need for sustainable business models in a sector characterized by:

• High operational costs associated with dark store networks
• Intense competitive pressure from established and emerging players
• Rising customer expectations for rapid delivery times
• The necessity to balance growth with path to profitability

Aggressive Expansion Amid Competition

The commission restructuring comes during a period of aggressive expansion for Blinkit. The company added 216 new dark stores in the December quarter of FY25, bringing its total to 1,007 locations nationwide. Blinkit has announced ambitious plans to nearly double this network to 2,000 dark stores by Q3 FY26.

This expansion occurs against the backdrop of intensifying competition in India's quick commerce market:

• Swiggy Instamart operated 705 dark stores as of December 31, 2024, with a presence in 76 cities
• Zepto doubled its dark store count to 700 in 2024, up from 350 the previous year
• Established e-commerce giants like Flipkart, Amazon, and BigBasket have pivoted toward quick commerce models
• New specialized entrants such as Blip, Farmako, and Swish are targeting specific product categories

Quick Commerce Market Growth

The strategic changes in commission structures reflect the significant growth potential in India's quick commerce sector. Together, Blinkit, Instamart, and Zepto recorded combined sales approaching $1 billion in FY24, demonstrating substantial consumer adoption of rapid delivery services.

According to industry analysts, the quick commerce market is witnessing an aggressive "land grab" as players compete for market share and establish presence across urban centers. This has led to substantial investments in infrastructure and high cash burn rates across the industry.

Recent Industry Controversy

The competitive intensity in the sector recently sparked controversy when Zomato co-founder publicly suggested that Zepto alone accounted for half of the estimated ₹5,000 crore quarterly burn witnessed by the quick commerce ecosystem. Zepto's leadership promptly refuted these claims as "verifiably untrue," highlighting the tensions in this high-stakes market.

As quick commerce platforms adjust their revenue models and expand operations, industry observers anticipate further consolidation and evolving business strategies as companies balance growth ambitions with the imperative of sustainable economics.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Rupee Holds Steady Against Dollar Despite FII Exodus and Market Volatility

Rupee Holds Steady Against Dollar Despite Foreign Investor Exodus

The Indian Rupee maintained its position on Friday as favorable movements in the dollar index and crude oil prices provided support amid continued selling by foreign institutional investors (FIIs).

According to Bloomberg data, the local currency opened flat at 87.11 against the US dollar, unchanged from Thursday's closing rate.

Dollar Weakness and Oil Price Decline Provide Support

The Dollar Index weakened considerably, reaching a four-month low of 103.76 on Friday. This decline in the greenback's strength typically creates favorable conditions for emerging market currencies like the Indian Rupee.

Simultaneously, global crude oil prices have experienced a significant correction, tumbling approximately 15% from their recent peak. As India imports over 80% of its oil requirements, lower crude prices generally reduce the country's import bill and ease pressure on the Rupee.

Despite these supportive external factors, the Rupee has only managed a modest appreciation of 50 paise to 87.00 per dollar, indicating that other forces are tempering its potential gains.

Domestic Indicators Show Resilience

Several domestic economic indicators have displayed resilience, contributing to the Rupee's stability:

• A noticeable rebound in services PMI (Purchasing Managers' Index), suggesting strength in the services sector
• Fresh liquidity initiatives from the Reserve Bank of India (RBI) to support market stability

According to market experts, despite these positive developments, the Rupee's appreciation has remained subdued primarily due to tight liquidity conditions prevailing in the banking system.

Foreign Investor Outflows Continue

A significant headwind for the Rupee has been the persistent selling by foreign portfolio investors (FPIs). In 2025 so far, overseas investors have net sold equities worth an astounding Rs 1.34 lakh crore, according to data from the National Securities Depository Limited (NSDL).

This substantial outflow of foreign capital has created downward pressure on the Indian currency, offsetting many of the positive factors that would typically drive appreciation.

Crude Oil Market Trends

Oil prices are on track for their most significant weekly decline since October. As of 9:23 a.m. IST on Friday, Brent crude was trading up 0.24% at $69.63 a barrel, while West Texas Intermediate (WTI) had risen 0.17% to $66.47.

This continued weakness in global oil prices bodes well for India's fiscal health and could provide further support for the Rupee if the trend persists.

Global Market Context

The broader Asian market context remains challenging, with stocks in the Asia-Pacific region declining on Friday following a tumble on Wall Street overnight. This occurred despite US President Donald Trump's announcement that he would exempt Mexico and Canada from new tariffs on goods and services that fall under the North American trade agreement (USMCA).

Market analysts suggest that once liquidity conditions improve, the Rupee could make a stronger comeback. For now, however, the currency appears confined within a trading range of 86.80 to 87.30 against the US dollar.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Trump Signs Executive Order to Establish US Bitcoin Reserve, Price Falls 5.7%

In a landmark move for cryptocurrency adoption, US President Donald Trump signed an executive order on Thursday establishing a government-held Bitcoin reserve. This significant policy shift marks a dramatic evolution in the administration's approach to digital assets, particularly for a president who once dismissed Bitcoin as a "scam."

Bitcoin Price Reacts to the News

Following the announcement, Bitcoin's price experienced a substantial drop of up to 5.7%. Around 0100 GMT, the world's largest cryptocurrency had fallen to $84,707, retreating from its recent historic high of over $100,000.

The price movement came after statements from White House artificial intelligence and cryptocurrency advisor David Sacks, who clarified details about the new reserve on social media platform X.

Details of the Bitcoin Reserve Plan

According to Sacks, who serves as Trump's "crypto czar," the Strategic Bitcoin Reserve will be established using cryptocurrency already in government possession. The reserve will primarily consist of Bitcoin that was seized during criminal and civil asset forfeiture proceedings.

Key aspects of the executive order include:

• Retention of approximately 200,000 bitcoins from government seizures
• A commitment that the US will not sell any Bitcoin deposited into the reserve
• Mandate for a comprehensive audit of all government Bitcoin holdings
• Authorization for Treasury and Commerce departments to explore budget-neutral strategies to acquire additional Bitcoin
• Creation of a separate "US Digital Asset Stockpile" for holding seized cryptocurrencies other than Bitcoin

A Shift in Government Strategy

Sacks revealed a startling fact about previous government practices, noting that over the past decade, the US had sold approximately 195,000 bitcoins for just $366 million. At current prices, those same holdings would be worth an estimated $17 billion had they been retained.

"The Reserve is like a digital Fort Knox for the cryptocurrency often called 'digital gold,'" Sacks explained, emphasizing that the Bitcoin will be kept as a store of value rather than liquidated.

Trump's Evolution on Cryptocurrency

The executive order represents a remarkable transformation in President Trump's stance toward cryptocurrency. Having once publicly criticized Bitcoin, he has now positioned himself as perhaps the digital asset industry's strongest political ally.

His administration has actively rolled back regulatory measures affecting the crypto sector and urged Congress to pass crypto-friendly legislation. Further demonstrating this commitment, Trump is scheduled to host industry leaders at the White House for a "Crypto Summit" on Friday.

On Sunday, the president caused a brief market spike after unexpectedly expressing interest in the government holding other cryptocurrencies such as XRP, Solana, and Cardano.

The Bigger Picture for Bitcoin

Created in response to the 2008 financial crisis by an anonymous developer or group known as Satoshi Nakamoto, Bitcoin has a fixed supply of 21 million coins. This scarcity has led many investors to view it as a potential hedge against inflation.

Some proponents have even suggested that a strategic Bitcoin reserve could eventually help address the US national debt, though economists remain divided on this assertion.

Cryptocurrency markets experienced significant gains following Trump's election win in November 2024, with Bitcoin eventually crossing the $100,000 threshold for the first time. However, prices have since moderated as the market digests new regulatory developments.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Tata Steel Surpasses Trent as 4th Largest Tata Group Company by Market Cap

Tata Steel Surpasses Trent to Become 4th Largest Tata Group Company by Market Cap

In a significant market shift within India's largest conglomerate, Tata Steel has overtaken retail giant Trent to claim the position of the fourth-largest Tata Group company by market capitalization. This change in hierarchy comes as Trent's stock has experienced a substantial correction from its recent highs.

Market Capitalization Shift

As of March 6, 2025, Tata Steel's market capitalization stands at Rs 1.88 lakh crore, exceeding Trent's Rs 1.79 lakh crore by approximately Rs 10,273 crore. This represents a remarkable reversal from October 2024, when Trent held a commanding lead of Rs 95,000 crore over Tata Steel, following Trent's shares reaching a record high of Rs 8,345.

The steel manufacturer's shares were trading at Rs 151.40 per share, marking a significant increase of 3.63% compared to the previous closing price of Rs 146.15 apiece. This upward momentum has contributed substantially to the company's enhanced market valuation.

Relative Position Within Tata Group

With its current market capitalization, Tata Steel now represents 6.9% of the Tata Group's combined market capitalization, surpassing Trent, which now accounts for 6.5%. The Tata Group, India's premier conglomerate, boasts an impressive total market capitalization of Rs 27.5 lakh crore.

Trent's position change follows a dramatic 40% decline in its stock price from October highs, reflecting a significant correction in investor sentiment toward the retail giant.

Analyst Perspectives

Market analysts have issued a 'Buy' recommendation on Tata Steel with a target price of Rs 168 per share, suggesting a potential upside of 11% from the current trading price of Rs 151 per share. This positive outlook is driven by the company's strategic initiatives and operational improvements.

Industry Context

The steel sector globally has faced challenges, with prices remaining subdued. Chinese steel is currently priced at approximately $480 per ton despite various stimulus efforts by the Chinese government. China's record steel exports of 111 million tons in 2024 have put pressure on Indian steel prices, coinciding with a slowdown in domestic demand growth.

In response to these market pressures, the Directorate General of Trade Remedies (DGTR) has initiated an investigation to assess the potential implementation of safeguard duties on rising steel imports to protect domestic producers.

Strategic Initiatives by Tata Steel

• Enhanced customer-centricity with 75% of automotive steel sales being processed or ready-to-use products
• Development of the Aashiyana e-commerce platform supporting homebuilders with 30+ service centers
• Commitment to responsible growth through emissions reduction initiatives
• Promotion of workplace equality, including an all-women shift at an Indian mining operation

Future Outlook

Tata Steel is actively pursuing operational improvements at its Kalinganagar facility, focusing on cost efficiency and productivity enhancements. The company expects to release over Rs 4,000 crore in net working capital through improved management practices.

Additionally, cost reduction initiatives in the Netherlands operations are expected to drive improved performance, positioning the company for stronger financial and operational results in the upcoming fiscal year 2025-26.

About Tata Steel

Tata Steel Limited is a global steel company headquartered in India with an annual crude steel capacity of approximately 35 million tons per annum. The company operates across the globe, engaged primarily in the manufacturing and distribution of steel products across various sectors including automotive, construction, and industrial applications.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Paramesu Biotech Secures SEBI Approval for Rs 600 Crore IPO: Expansion Plans Unveiled

The Indian capital markets continue to witness significant activity in the initial public offering (IPO) segment despite fluctuating market conditions. In a notable development, Paramesu Biotech, a leading manufacturer of maize-based products, has received regulatory approval from the Securities and Exchange Board of India (SEBI) to proceed with its public listing. The regulatory green light, granted on March 4, 2025, follows the company's draft red herring prospectus filing in November 2024.

IPO Structure and Fundraising Objectives

According to the approved filing, Paramesu Biotech aims to raise Rs 600 crore through its upcoming public issue. The IPO consists of a fresh issue component worth Rs 520 crore alongside an offer for sale (OFS) valued at Rs 80 crore by the company's existing stakeholders.

The primary promoters participating in the offer for sale include:

• Unimark Business Solutions Private Limited
• Speedfast Tracom Limited
• Anand Swaroop Advani
• Mani Sweta Tetali
• Himbindu Tetali

Strategic Allocation of Raised Capital

Paramesu Biotech has outlined a clear roadmap for deploying the proceeds from its public offering. The company intends to allocate:

• Rs 330 crore toward establishing a new manufacturing facility in Madhya Pradesh with a daily production capacity of 1,200 tonnes
• Rs 85 crore toward repayment or prepayment of certain outstanding borrowings
• The remaining amount for general corporate purposes

This strategic allocation underscores the company's focus on expanding its production capabilities while simultaneously strengthening its balance sheet through debt reduction—a move that financial analysts view positively for long-term growth prospects.

Impressive Financial Performance

Paramesu Biotech has demonstrated strong financial results in recent periods, reinforcing investor confidence in its business model. For the fiscal year 2023-24, the company reported:

• Revenue of Rs 629.29 crore
• Profit after tax of Rs 40.34 crore

The company has maintained this performance trajectory in the current fiscal year as well. For the six-month period ending September 30, 2024, Paramesu Biotech recorded:

• Revenue of Rs 409.39 crore
• Profit after tax of Rs 26.85 crore

These figures represent healthy profit margins and suggest the company's business operations are well-positioned to capitalize on market opportunities in the specialty food ingredients sector.

Business Operations and Market Position

Paramesu Biotech has established itself as a specialized manufacturer of maize-based products in India. The company's diverse product portfolio includes:

• Native corn starch
• Modified corn starch
• Liquid glucose
• Maltodextrin powder
• Corn germ
• Gluten
• Fiber
• Corn steep liquor
• Enriched fiber

The company operates its primary manufacturing facility in Devra Palli, located in the West Godavari district of Andhra Pradesh. This strategic location provides excellent access to maize-growing regions, ensuring a steady supply of raw materials.

Client Base and Industry Reach

Paramesu Biotech serves a diverse clientele that includes well-established companies such as:

• Emami Paper Mills Limited
• Tunav Food Products LLP
• Singhania Foods International
• Prayag Consumer Care Private Limited

These commercial relationships highlight the company's strong industry presence and its ability to meet the quality standards demanded by reputable corporate customers.

IPO Management Team

For this significant capital market endeavor, Paramesu Biotech has appointed experienced financial advisors to guide the public offering process:

• Book Running Lead Manager: Pantomath Capital Advisors Private Limited
• Registrar to the Issue: Bigshare Services Private Limited

Market experts anticipate significant investor interest in this offering, particularly from those looking to gain exposure to the specialized food ingredients manufacturing sector, which has shown resilience even during economic fluctuations.

Market Outlook and Investment Perspective

Industry analysts view Paramesu Biotech's expansion plans favorably, noting that the new manufacturing facility in Madhya Pradesh will significantly enhance the company's production capabilities. This strategic move is expected to help the company meet growing demand for its products while potentially improving operational efficiencies.

The company's focus on debt reduction is also likely to strengthen its financial position by lowering interest costs and improving profitability metrics—factors that typically resonate positively with public market investors.

As Paramesu Biotech prepares for its market debut, investors will be closely monitoring announcements regarding the IPO timeline, price band, and subscription details in the coming weeks.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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EPFO Launches Aadhaar-Based Self-Update Feature for EPF Members

EPFO Introduces Self-Update Feature: Members Can Now Modify Profiles Using Aadhaar-Linked UAN

In a significant development for over 60 million EPF members across India, the Employees' Provident Fund Organization has rolled out a streamlined process for updating personal details. This new initiative marks a substantial improvement in member services, allowing for faster and more efficient profile management without the traditional paperwork burden.

Key Highlights of the New Self-Update System

The EPFO has introduced a user-friendly mechanism enabling members to update their profiles independently, provided their Universal Account Number (UAN) is linked and verified with Aadhaar. This progressive step eliminates the need for supporting documents and significantly reduces processing times that previously averaged 28 days.

According to official data from EPFO, the organization received nearly 8 lakh correction requests through employers in the 2024-25 financial year. Remarkably, about 45 percent of these modifications can now be self-approved by members without requiring employer verification, representing a substantial reduction in bureaucratic processes.

What Information Can Members Update?

EPF members can now self-update several critical profile elements, including:

• Name, Date of Birth, Gender, and Nationality
• Father's or Mother's Name
• Marital Status and Spouse's Name
• Date of Joining and Date of Leaving

It's important to note that employer certification remains necessary in certain cases, particularly for UANs issued before October 1, 2017. Members should verify their UAN issuance date before attempting self-updates.

Understanding Your UAN: The Digital Key to EPF Services

The Universal Account Number serves as a unique identifier assigned by EPFO to each contributing employee. This 12-digit number functions as a master key, connecting multiple Member Identification Numbers (Member IDs) from different employers under a single umbrella account.

Essential Features of the UAN System

• Simplified PF Account Transfers - Employees changing jobs can effortlessly link their new PF account to their existing UAN, eliminating the hassle of managing multiple accounts.
• Comprehensive Online Services - UAN holders can download their passbook, UAN card, and check eligibility for various services including online transfer claims.
• Digital KYC Management - Members can update and modify their Know Your Customer details including Aadhaar, PAN, and bank information for instant verification.
• Access to Special Schemes - To benefit from the Employment Linked Incentive (ELI) Scheme, members must activate their UAN and link it with both Aadhaar and their bank account.

Industry experts anticipate that EPFO will continue expanding its digital service portfolio under the UAN framework, further enhancing member convenience and service delivery efficiency.

Step-by-Step Guide: How to Update Your EPF Profile

Updating your EPF profile has been simplified into a straightforward process that most members can complete in minutes. Follow these steps to update your information:

1. Access the EPFO Portal - Visit the official website at www.epfindia.gov.in
2. Complete Authentication - Enter your UAN, password, and captcha code to access your account
3. Navigate to Profile Management - Click on the 'Manage' option from the main menu
4. Select Update Option - Choose 'Modify Basic Details' to access the personal information section
5. Enter Accurate Information - Ensure all details match exactly with your Aadhaar card records
6. Submit and Monitor - After submission, track your request status through the 'Track Request' feature

This digital transformation initiative by EPFO represents a significant step toward creating a more responsive, transparent, and user-centric social security system. The self-update feature empowers members to take control of their accounts while reducing administrative bottlenecks.

The Broader Impact on Digital Governance

The introduction of this self-service feature aligns with India's broader digital governance goals, creating a more responsive and efficient public service delivery system. By leveraging Aadhaar integration, EPFO has enhanced both security and convenience, setting a benchmark for other government agencies to follow.

Financial analysts predict that such digitization efforts could reduce operational costs for EPFO by up to 30 percent in the coming years, potentially allowing for better returns on member contributions or enhanced services.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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Gold Prices In India Witness Major Dip On March 6th, Silver Rates Jump By Rs 1,000

Gold prices in India declined significantly today after two consecutive days of gains, offering potential buyers a window of opportunity to make purchases at lower rates. The precious metal has been experiencing notable fluctuations in recent trading sessions, with today marking a substantial correction in domestic markets.

Global Factors Influencing Gold Rates

The recent volatility in gold prices can be attributed to multiple international factors. Recent tariff implementations have triggered concerns about a potential trade war, creating uncertainty in global markets. Currently, market participants are keeping a close watch on upcoming U.S. employment data scheduled for release this week, as these figures will provide crucial insights into the Federal Reserve's potential interest rate decisions.

Adding to the complex market dynamics, the U.S. Dollar Index has registered a significant 1.39% drop to a three-month low, a development that typically provides support for gold prices as the precious metal becomes more affordable for holders of other currencies.

Today's Gold Price Details Across Various Purities

On March 6, 2025, gold prices in India have adjusted downward across all common purity levels:

• 22-carat gold has declined by Rs 450 per 10 grams, now retailing at Rs 80,200
• 24-carat gold has dropped by Rs 490 per 10 grams, with current rates at Rs 87,490
• 18-carat gold has decreased by Rs 370 per 10 grams, now available at Rs 65,620

Bulk Purchase Rates

For those considering larger gold investments, the rates for 100-gram quantities have also adjusted downward:

• 100 grams of 24-carat gold is now priced at Rs 8,74,900, reflecting a substantial decline of Rs 4,900
• 100 grams of 22-carat gold has fallen by Rs 4,500, now costing Rs 8,02,000
• 100 grams of 18-carat gold has decreased by Rs 3,700, currently retailing at Rs 6,56,200

Silver Prices Buck The Trend

While gold rates have declined, silver prices in India have moved in the opposite direction, registering an increase for the second time this week. Current silver rates in India stand at Rs 99,000 per kilogram, marking a significant jump of Rs 1,000. For smaller quantities, 100 grams of silver is now priced at Rs 9,900, representing an increase of Rs 100.

Gold Rates Across Major Indian Cities

Most major cities across India are experiencing similar price trends for gold. Here's a snapshot of current gold rates in key metropolitan areas:

• Delhi: 24-carat at Rs 87,640 and 22-carat at Rs 80,350
• Mumbai: 24-carat at Rs 87,490 and 22-carat at Rs 80,200
• Chennai: 24-carat at Rs 87,490 and 22-carat at Rs 80,200
• Bangalore: 24-carat at Rs 87,490 and 22-carat at Rs 80,200

MCX Futures Performance

On the Multi Commodity Exchange (MCX), gold futures have continued their upward trajectory. Gold futures contracts maturing on April 4, 2025, have increased by 0.22% to reach Rs 86,022. Similarly, silver futures set to expire on March 5, 2025, have also gained momentum, trading 0.39% higher than the previous close at Rs 97,925.

Market analysts suggest that "MCX Gold April is expected to rise towards the Rs 86,400 level as long as it stays above the Rs 85,300 level. MCX Silver May is projected to rise further towards the Rs 98,200 level provided it maintains support above the Rs 96,500 level."

Expert Market Outlook

According to the latest research report from a leading financial institution, "Gold is expected to continue with its upward trend and rally further towards the $2,935 level on weakness in the dollar and safe-haven buying. The dollar is showing weakness as recent economic data from the US has signaled a slowdown in economic growth."

The report further notes that concerns about potential trade tensions "will have adverse effects on the economy, prompting the US Federal Reserve to lower interest rates. The market currently expects approximately 69 basis points of rate cuts by the Fed this year, more than previously anticipated due to signs of economic deceleration."

Investors are advised to monitor upcoming economic releases and central bank decisions carefully, as these will likely influence precious metal prices in the near term. Technical analysis suggests that spot gold is likely to maintain support near the $2,890 level and could potentially rise towards the $2,935 mark in the coming sessions.

Disclaimer: The views and investment tips expressed in this article are for informational purposes only and do not represent financial advice. The views expressed are those of the sources cited and not necessarily those of this website or its management. Investing in equities or other financial instruments carries the risk of financial loss. Readers must exercise due caution and conduct their own research before making any investment decisions. We are not liable for any losses incurred as a result of decisions made based on this article. Please consult a qualified financial advisor before making any investment.

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