Home Arrow Media Coverage

Media Coverage

17
Nov
2018
Publication: The National

"Indian exports are shining on the back of a weakening rupee," says Abhishek Bansal, the chairman of ABans Group of Companies, a financial services firm based in Mumbai.

In recent months, the rupee has fallen to a series of record lows against the US dollar."Mainly Indian sugar exports are becoming more viable due to lower domestic prices compared to global markets," he says.


Read More

14
Nov
2018
Publication: Cogencis

"Gold is likely to be negatively impacted if dollar index strengthens further from current levels," said Abhishek Bansal, chairman of ABans Group of Companies, adding gold could find support at $1,186 an ounce.


Read More

14
Nov
2018
Publication: Deccan Chronicle

Financial services provider ABans Group chairman Abhishek Bansal attributed the September to mid-October rally in gold prices to the ongoing US-China trade wars and on tension arising from the US sanctions on Iran coming into effect from November 4.

But then the price began to fall on fear of the US Fed hiking interest rates again. The Fed had on September 26 increased the rates by 25 bps to 2.25 per cent. This was the eighth hike since 2015 when it was at 0.25 per cent since the 2008 crisis.

If the interest rate rises from current levels, it will increase borrowing costs and will be negative for gold, because then the bond market will be more attractive than gold, which has hardly given any returns in the last five years, he said.

He said the spike in domestic price was due to the increase in the international prices only, coupled with the steep fall in the rupee.

"The rupee, which depreciated against the US dollar by more than 15 per cent in the first 10 months of this year, is finding support over falling crude prices; this is another reason for the steep fall in domestic gold prices," he added.

Further, he said, higher gold prices kept buyers away during the festival season and demand from rural markets did not pick up as farmers are yet to receive the minimum support prices for their crops.

Over 60 per cent of the domestic gold demand comes from the rural markets.

Analysing these fundamentals, he said, international gold prices are likely to remain in a broader range of $1,180 to $1,240 by December end, while domestic price may hover around `30,200 to `31,800, provided the rupee does not fall below 73-74 till March.


Read More

12
Nov
2018
Publication: The Hitavada

Financial services provider ABans Group chairman Abhishek Bansal attributed the September to mid-October rally in gold prices to the ongoing US-China trade wars and on tension arising from the US sanctions on Iran coming into effect from November 4. But then the price began to fall on fear of the US Fed hiking interest rates again. The Fed had on September 26 increased the rates by 25 bps to 2.25 per cent. This was the eighth hike since 2015 when it was at 0.25 per cent since the 2008 crisis.

If the interest rate rises from current levels, it will increase borrowing costs and will be negative for gold, because then the bond market will be more attractive than gold, which has hardly given any returns in the last five years, he said. He said the spike in domestic price was due to the increase in the international prices only, coupled with the steep fall in the rupee. "The rupee, which depreciated against the US dollar by more than 15 per cent in the first 10 months of this year, is finding support over falling crude prices; this is another reason for the steep fall in domestic gold prices," he added.

Further, he said, higher gold prices kept buyers away during the festival season and demand from rural markets did not pick up as farmers are yet to receive the minimum support prices for their crops. Over 60 per cent of the domestic gold demand comes from the rural markets. Analysing these fundamentals, he said, international gold prices are likely to remain in a broader range of USD 1,180 to USD 1,240 by December end.


Read More

12
Nov
2018
Publication: FirstPost

Financial services provider ABans Group chairman Abhishek Bansal attributed the September to mid-October rally in gold prices to the ongoing US-China trade wars and on tension arising from the US sanctions on Iran coming into effect from November 4.

But then the price began to fall on fear of the US Fed hiking interest rates again. The Fed had on September 26 increased the rates by 25 bps to 2.25 per cent. This was the eighth hike since 2015 when it was at 0.25 per cent since the 2008 crisis.

If the interest rate rises from current levels, it will increase borrowing costs and will be negative for gold, because then the bond market will be more attractive than gold, which has hardly given any returns in the last five years, he said.

He said the spike in domestic price was due to the increase in the international prices only, coupled with the steep fall in the rupee.

"The rupee, which depreciated against the US dollar by more than 15 per cent in the first 10 months of this year, is finding support over falling crude prices; this is another reason for the steep fall in domestic gold prices," he added.

Further, he said, higher gold prices kept buyers away during the festival season and demand from rural markets did not pick up as farmers are yet to receive the minimum support prices for their crops.

Over 60 per cent of the domestic gold demand comes from the rural markets.

Analysing these fundamentals, he said, international gold prices are likely to remain in a broader range of USD 1,180 to USD 1,240 by December end, while domestic price may hover around Rs 30,200 to 31,800, provided the rupee does not fall below 73-74 till March.


Read More

11
Nov
2018
Publication: Business Standard

Financial services provider ABans Group chairman Abhishek Bansal attributed the September to mid-October rally in gold prices to the ongoing US-China trade wars and on tension arising from the US sanctions on Iran coming into effect from November 4.

But then the price began to fall on fear of the US Fed hiking interest rates again. The Fed had on September 26 increased the rates by 25 bps to 2.25 per cent. This was the eighth hike since 2015 when it was at 0.25 per cent since the 2008 crisis.

If the interest rate rises from current levels, it will increase borrowing costs and will be negative for gold, because then the bond market will be more attractive than gold, which has hardly given any returns in the last five years, he said.

He said the spike in domestic price was due to the increase in the international prices only, coupled with the steep fall in the rupee.

"The rupee, which depreciated against the US dollar by more than 15 per cent in the first 10 months of this year, is finding support over falling crude prices; this is another reason for the steep fall in domestic gold prices," he added.

Further, he said, higher gold prices kept buyers away during the festival season and demand from rural markets did not pick up as farmers are yet to receive the minimum support prices for their crops.

Over 60 per cent of the domestic gold demand comes from the rural markets.

Analysing these fundamentals, he said, international gold prices are likely to remain in a broader range of USD 1,180 to USD 1,240 by December end, while domestic price may hover around Rs 30,200 to 31,800, provided the rupee does not fall below 73-74 till March.


Read More

05
Nov
2018
Publication: NDTV Profit

Abhishek Bansal, founder and chairman of ABans Group of companies:

"Domestic gold prices are still at two year highs but a minor correction in the rupee from these levels may push gold prices down from here. This is the key reason behind investors shying away from gold which has given poor returns compared to other assets classes such as equity."

Gold returns from Dhanteras to Dhanteras
17-Oct-17 5-Nov-18 Change Return
MCX gold in rupees per 10 grams 29600 31800 2200 7%
Comex gold in dollar per ounce 1283 1233 -50 -4%

"It is therefore advisable to wait for a better correction in prices in the coming months till Rs.31,100- Rs. 30,700 per 10 grams."


Read More

02
Nov
2018
Publication: Cogencis

"Gold prices are getting support from geopolitical tensions such as US-China trade war, Iran oil sanctions, killing of a Saudi journalist, Brexit and the European Commission’s stand on Italy’s budget fiasco," said Abhishek Bansal, chairman of ABans Group of Cos. "However, gold is finding some pressure also due to rising US bond yields and a rally in the US dollar index."

ANALYSTS/TRADERS DOMESTIC PRICE INTERNATIONAL PRICE
(rupees per 10 gm) ($ per ounce)
ABans Group of Companies 31,700-32,250 1,213-1,260

Read More

15
oct
2018
Publication: Moneycontrol

There is a negative correlation of 0.72 between equity markets and gold prices in India in the last six months,” said Abhishek Bansal, Chairman & Managing Director of ABans Commodities.

Gold prices kept sliding from May 2018 to the end of August 2018 and equity market was on a rise.

Bansal added, "As Nifty was trading at lifetime highs in August then correction started from its peak of 11,751 to 10,203 in past months whereas gold was shining all around during the same period. This was when international gold prices were trading in the range of $1,180-$1,213 per ounce with a negative bias. In this year, domestic gold prices spiked from 29,268 per 10 grams to 31,645 per 10 grams, an 8 percent gain."


Read More

14
oct
2018
Publication: The National, UAE

On account of multiple factors, farmers continue to struggle," says Abhishek Bansal, the chairman of ABans Group of Companies, a financial services firm based in Mumbai. "These include small land holdings, lack of organized credit, exploitation by middlemen and over-dependence on the monsoons.

He says the majority of land holdings of farmers in India are small plots, which are "unviable" and “deprive the farming sector of the numerous benefits of large-scale farming”. It is particularly hard for these small-scale farmers to manage rising costs.


Read More

10
oct
2018
Publication: The Hindu Business Line

Abhishek Bansal, Founder and Chairman, ABans Group, said gold prices in India are up by almost 8.20 per cent compared to last year even as international gold prices hit a 6-week low as US Federal Reserve hiked rates by 25 bps.

Gold imports are getting costlier due to Indian rupee falling by almost 11 per cent against US dollar, he added.


Read More

09
oct
2018
Publication: Moneycontrol

Emerging markets currencies are devaluing against dollar. Indian rupee is quoted above 74 is expected to weakened further in coming weeks as rising oil prices are still a threat to current account deficit and higher transport fuel prices will raise inflation in the country,” Abhishek Bansal, Founder and Chairman of ABans Group of Companies said in a statement.

Read More

05
oct
2018
Publication: Zee Business

Abhishek Bansal, founder and chairman of currency derivative and broking firm ABans group, said this arrangement will make a dent of Rs 6,700 crore over next six months in OMC revenues. "This announcement was negatively received by OMC investors on reduced revenue and profitability concern. OMC share prices dropped drastically in the last 20 minutes of trading session," Bansal said.

Read More

05
oct
2018
Publication: Zee Business

Abhishek Bansal, founder and chairman of currency derivative and broking firm ABans group, said if rupee rises to 75 a dollar and Brent remains at $85 per barrel, then petrol and diesel price may be in the range of Rs 91-95 per litre and Rs 80-84 per litre, respectively, in India.

"If the Brent price surges to $90/barrel and rupee stays at the current level of 73 per dollar, we could see petrol and diesel being sold in the same price range of up to Rs 95 per litre and Rs 84 per litre, respectively," said Bansal.

"In any of the scenarios, there is going to be a negative impact on our economy which will be burdened with additional imports costs, and further depreciation of rupee and rise in fuel cost looks unavoidable. Consumers can get relief only if government takes the charge and reduces some taxes on petrol," Bansal said.

Read More

05
oct
2018
Publication: DNA

Abhishek Bansal, founder and chairman of currency derivative and broking firm ABans group, said this arrangement will make a dent of Rs 6,700 crore over next six months in OMC revenues. "This announcement was negatively received by OMC investors on reduced revenue and profitability concern. OMC share prices dropped drastically in the last 20 minutes of trading session," Bansal said.

Read More

04
oct
2018
Publication: DNA

Abhishek Bansal, founder and chairman of currency derivative and broking firm ABans group, said if rupee rises to 75 a dollar and Brent remains at $85 per barrel, then petrol and diesel price may be in the range of Rs 91-95 per litre and Rs 80-84 per litre, respectively, in India.

"If the Brent price surges to $90/barrel and rupee stays at the current level of 73 per dollar, we could see petrol and diesel being sold in the same price range of up to Rs 95 per litre and Rs 84 per litre, respectively," said Bansal.

"In any of the scenarios, there is going to be a negative impact on our economy which will be burdened with additional imports costs, and further depreciation of rupee and rise in fuel cost looks unavoidable. Consumers can get relief only if government takes the charge and reduces some taxes on petrol," Bansal said.

Read More