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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and...

The Financial Magic of 8/8

AI Generated Image If numbers could talk, 8 would speak the language of wealth. When the date doubles into 8/8, it becomes more than another day. It becomes a reminder of financial power, balance and long-term abundance. Yesterday, the calendar read August 8 - 8/8. In astrology and numerology, this date is considered significant. The Lion’s Gate Portal August 8 marks the peak of what is known as the Lion’s Gate Portal - a period believed to carry heightened energy for growth, abundance and transformation. I am a financial advisor - not an astrologer or numerologist - but I find this date fascinating because of the symbolism attached to the number 8. In numerology, 8 is associated with wealth, power, ambition and balance. It is also linked with discipline, responsibility and karma - the idea that our actions produce results. When the calendar reads 8/8, many believe this energy is doubled. A Financial Checkpoint Whether or not you believe in astrology or numerology, the date can serve as a financial checkpoint - an opportunity to pause, reflect and take steps towards building wealth. I recommend treating 8/8 as a money mirror - a moment to ask yourself: Are my investments aligned with my long-term goals? Is my money working for me, or am I caught in an earn-and-spend cycle? Am I creating lasting wealth, or merely temporary income? Your Mid-Year Money Reset We often make resolutions on January 1. But by August, more than half the year has passed. That makes 8/8 an excellent occasion for a financial reset. Use this weekend for review and action. The intention may begin on a symbolic day, but transformation comes from what you do next. Review your goals and expenses. Make lumpsum investments where appropriate, increase your SIPs, check whether your insurance cover is sufficient and organise your financial documents. Also review your asset allocation. Money meant for long-term goals must be invested in hybrid and equity mutual funds, stocks and gold. Money required for short-term goals should remain in safer options such as bank fixed deposits and recurring deposits. Declutter Your Finances Close unused accounts, cancel unnecessary subscriptions, consolidate scattered investments and ensure that your family knows where financial information is stored. These may seem like small steps, but wealth is rarely created through one dramatic decision. It is built through disciplined actions repeated over many years. The Infinity Connection When the number 8 is turned on its side, it resembles the symbol for infinity - . That is what true investing is about - allowing consistency, patience and compounding to work over long periods. It does not create wealth overnight. Given time, the results can appear magical. Turn Intention Into Action As we move beyond 8/8, do not let the intention remain limited to a date on the calendar. Set a financial intention. Act on it. Review it regularly. Even the largest fortunes begin with focused steps. When your present-day financial actions begin matching your long-term goals, real transformation begins. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Growing distrust among traders over delivery of spot deals

Due to the lack of proper price discovery for silver across the world, a deal for the delivery of 900 kg of silver between the Government of India company "Security Printing and Minting Corporation of India Limited" (SPMCIL), Hyderabad, and a Mumbai-based bullion firm named "Augmont  Enterprise Limited" has run into trouble, creating a huge  flutter in the Mumbai bullion market.

 

A silver bullion dealer from Mumbai said that silver traders across the country—including Mumbai, Rajkot, Jaipur, Agra, Delhi, and Ahmedabad—have landed in serious difficulty. He said that, if a government company creates such issues in silver delivery, then what will happen to the deals of small traders who rely only on a “letter of trust” and whose spot deal deliveries are already jeopardized ?

 

Referring to the details of the deal on December 17, 2025, enquiries were made with leading bullion dealers from the city of Melbourne (Australia) on the status of 'spot deal deliveries' in the local market. 

 

They reveal that deliveries of silver from the (Australian) silver mining companies are not happening on time. Because of this, after accepting money from the investors, they are forced to enter into deals on the condition of delivery after 15 to 20 days.

 

The Mumbai-based silver dealer then countered that if deliveries by a government company itself get stalled in this manner, what will happen to India’s ETF, mutual fund, silver futures, and spot-market “kabala” (non-transferable specific delivery) paper transactions?

 

A senior official of a leading bank, involved in ETF management, said that, so far there has been no major problem with spot silver delivery in India. "However, to protect ETF transactions entered into at recently high prices, we may be compelled to hedge at lease rates with Western countries," he said preferring anonymity.

 

The powerful Indian Bullion and Jewellers Association (IBJA), Secretary  Surendra Mehta admitted there is a price recovery problem in Mumbai, but it is also true that in the local markets, spot silver is currently being offered at a discount of Rs 8,000 to Rs 10,000 per kilo. "There is also little likelihood of any immediate solution to such discounts and premiums", he averred.

 

When you consider discounts and premiums of USD 8 to 10 per ounce (31.10347 grams) being quoted between China, Japan, the US, and Europe, how can Indian bullion dealers take the price risk of spot transactions?

 

A source close to Augmont Enterprise, said that, on December 17 the government mint company in Hyderabad had announced an auction of refined silver with purity ranging from .995 to .998.5 touch (carat). Augmont deposited the initial earnest money deposit of Rs 1.16 lakh on December 16 and paid the remaining security deposit amount on December 18. On December 19, the auction for 900 kg of silver was approved in the name of Augmont Enterprise. The final balance payment was to be made by December 27.

 

However, even before that, on December 22, the auction deal was cancelled. Between the initial auction date and the date of cancellation, silver prices increased by Rs 36,000 to Rs 40,000 per kilo. Over the last 52 weeks alone, global spot silver prices had risen by 194 percent.

 

Another market  player said that an amount of Rs.18-20 crore is at stake in this deal. Now, on behalf of its member Augmont Enterprise, the IBJA has requested the Prime Minister’s Office (PMO) intervention (on January 9, 2026), to resolve the imbroglio.

 

(The writer is a bullion market expert. Views personal.)

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