Index Fund Corner
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| Scheme Name | 1-Year Return | Invest Now | Fund Category | Expense Ratio |
|---|---|---|---|---|
| Axis Nifty 50 Index Fund | +32.80% | Invest Now | Equity: Large Cap | 0.12% |
| Axis Nifty 100 Index Fund | +38.59% | Invest Now | Equity: Large Cap | 0.21% |
| Axis Nifty Next 50 Index Fund | +71.83% | Invest Now | Equity: Large Cap | 0.25% |
| Axis Nifty 500 Index Fund | — | Invest Now | Equity: Flexi Cap | 0.10% |
| Axis Nifty Midcap 50 Index Fund | +46.03% | Invest Now | Equity: Mid Cap | 0.28% |
Globally, gold futures gained 0.19%, reaching ₹2,641.43 per ounce in New York.
Renisha Chainani, Head of Research at Augmont, pointed to the US dollar’s strength and its impact on precious metals.
“The dollar has gained since mid-August, holding strong support at 100 points. Bullish sentiment has grown since the US election, with President-elect Donald Trump’s policies boosting hopes of a manufacturing rebound and economic growth,” she said.
Chainani explained that Trump’s tariff and tax policies fueled inflation concerns, while better-than-expected economic data has kept inflation persistent. This has led the Federal Reserve to reconsider lowering interest rates further. However, the strong US dollar may limit the upside for gold, as it makes the yellow metal more expensive for buyers in other currencies.
Geopolitical factors also played a role in driving up demand for gold.
Russia’s drone activities in Ukraine and Israel’s airstrikes in Gaza have increased interest in the precious metal as a safe-haven asset.
Looking ahead, focus will shift to the US Nonfarm Payrolls data, marking the start of the US labor market stats for 2025. Historically, January has seen significant gold price gains, driven by strong jewelry demand over the holiday season and new long positions by investors.
First Published: Jan 7, 2025 1:20 PM IST
