 "Diwali")
Residential prices in India have risen 46 per cent on average in India’s top seven cities, according to research. Rising prices may force you to strike some compromises. However, it is important not to sacrifice some of the key essentials in this long-term and vital purchase. In this week’s lead story, Sanjay Kumar Singh and Karthik Jerome offer tips on how to strike a good deal amid rising prices.
The second article, by Namrata Kohli, explores changing Diwali gifting trends, with a focus on premium, sustainable, and socially conscious products. It highlights the shift towards high-end items, corporate gifts supporting social causes, and local artisan-made products. Read it to learn how to choose thoughtful gifts that reflect your personal values and promote sustainability this festive season.
Are you facing a temporary cash crunch that you need to tide over with a short-term loan? A personal loan is just the answer for your financial troubles. Look up Paisabazaar.com’s table to compare rates from the leading lenders in this segment.
If you are still in the old tax regime and wish to make tax saving investments, then consider an equity-linked savings scheme (ELSS). Being equity products, they are likely to offer higher returns over the long term and also come with the shortest (three-year) lock in. If you are looking for a fund from this category, go through Morningstar’s review of DSP ELSS Fund.
NUMBER OF THE WEEK
$2,666 per ounce: Price of gold in international market
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 "Fintech")
 "RBI, Reserve Bank of India")
 "Personal Loan")
 "Housing, Houses, Apartments, residential building")
 "Health insurance customers will face higher premiums as insurers implement hikes. HDFC Ergo General Insurance has recently raised premiums for its flagship product, Optima Secure. New India Assurance has also announced upcoming hikes across all its p")
Owing to the escalation in tensions in West Asia and the US Federal Reserve’s interest rate cuts, gold is witnessing a fresh price surge. Since the beginning of September 2024, the yellow metal has gained 5.24 per cent in international markets and 4.5 per cent in Mumbai’s spot market. The rally shows no signs of abating. Market analysts are now projecting one-year targets between $2,900 and $3,200 per ounce, up from the current $2,666.
In India, gold prices have soared to record levels despite a reduction in import duty. The Indian government cut the gold import duty from 15 per cent to 6 per cent in July this year, initially leading to a drop in domestic prices. However, this relief was short-lived. Standard gold in Mumbai’s Zaveri Bazaar is now priced at Rs 75,312 per 10 grams, the highest ever recorded. Meanwhile, futures on the MCX have surpassed Rs 76,000 per 10 grams.
 "Dhanteras")
 "Salary hike, Salary, Rupee")
 "flight")
 "Wedding season, weddings, wedding attire")
 "Fintechs in the country have grown in the last decade, both in the number of entities and scale. The key growth sectors have been payments, credit, insurance and wealth management, fuelled by angel investors, venture capital (VC) and private equity.")
