India is the second-largest consumer of yellow metal across the globe and that explains its significance in the Indian household. Gold is among the top investment options, especially among ladies. Even during big fat Indian weddings, a major chunk of the budget is kept aside for the purchase of gold coins and ornaments.
Other investment options that strike your mind when looking for safe instruments in terms of savings and yielding better returns are real estate and fixed deposits. Real estate, however, requires big and well-researched investment but gold and fixed deposits require small investments.
Defying odds of Covid-19 pandemic, gold gave a return of almost 28 percent in the year 2020 on a year-on-year basis while Sensex witnessed a growth of 16 percent and returns from fixed deposits stood at 6 percent. The pandemic hit most of the economies across the world and the uncertainty drove investors towards safe havens of investments, which supported gold prices additionally. Also, the production cost of gold at the international level has witnessed a jump which eventually gave a boost to gold prices.
The year 2020 witnessed a downfall in gold imports in India since marriages and other functions had to be postponed due to the government’s lockdown guidelines owing to the pandemic. But with the availability of vaccines and easing guidelines, the functions that were postponed last year are likely to happen this year and eventually increase the demand for gold. Additionally, hassle-free mode of gold purchase and accumulation on digital payment apps like Paytm, PhonePe, among others, is attracting a number of digital investors.
Gold has given almost 100 percent returns in the last 10 years while FD interest rate is almost 5-6 percent in almost all leading banks in India and 7 percent in some of the comparatively smaller banks. Due to high liquidity and expectations of higher inflation, gold will continue to give good returns as compared to fixed deposits due to low-interest rates.
For a long-term investment, one should opt for gold as it always gives security against inflation and sovereign gold bonds are the best investment tool since it gives a fixed return of 2.5 percent on yearly basis irrespective of gold actual performance.
Airline CEOs, Biden Officials Consider Green-Fuel Breaks
Chief executives of the nation’s largest passenger and cargo airlines met with key Biden administration officials Friday to talk about reducing emissions from airplanes and push incentives for lower-carbon aviation fuels.
The White House said the meeting with climate adviser Gina McCarthy and Transportation Secretary Pete Buttigieg also touched on economic policy and curbing the spread of COVID-19 travel has been a vector for the virus. But industry officials said emissions dominated the discussion.
United Airlines said CEO Scott Kirby asked administration officials to support incentives for sustainable aviation fuel and technology to remove carbon from the atmosphere. In December, United said it invested an undisclosed amount in a carbon-capture company partly owned by Occidental Petroleum.
A United Nations aviation group has concluded that biofuels will remain a tiny source of aviation fuel for several years. Some environmentalists would prefer the Biden administration to impose tougher emissions standards on aircraft rather than create breaks for biofuels.
Biofuels are false solutions that dont decarbonize air travel, said Clare Lakewood, a climate-law official with the Center for Biological Diversity. Real action on aircraft emissions requires phasing out dirty, aging aircraft, maximizing operational efficiencies and funding the rapid development of electrification.
Airplanes account for a small portion of emissions that cause climate change about 2% to 3% but their share has been growing rapidly and is expected to roughly triple by mid-century with the global growth in travel.
The airline trade group says U.S. carriers have more than doubled the fuel efficiency of their fleets since 1978 and plan further reductions in carbon emissions. But the independent International Council on Clean Transportation says passenger traffic is growing nearly four times faster than fuel efficiency, leading to a 33% increase in emissions between 2013 and 2019.
The U.S. accounts for about 23% of aircraft carbon-dioxide emissions, followed by Europe at 19% and China at 13%, the transportation group’s researchers estimated.
The White House said McCarthy, Buttigieg and economic adviser Brian Deese were grateful and optimistic to hear the airline CEOs talk about current and future efforts to combat climate change.
Nicholas Calio, president of the trade group Airlines for America, said the exchange was positive.
Airlines are ready, willing and able partners, and we want to be part of the solution” to climate change, Calio said in a statement. We stand ready to work in partnership with the Biden administration.
Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor
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