Business Today – 18 January 2026

Summary

Gold hit 78,000 rupees per 10 grams in January 2026, and Business Today's January 18, 2026 issue (Vol 35 No 2) asks whether the bullion rally has room to run. The cover story "A New Gold Order" tracks how central bank buying, geopolitical risk, and a weakening dollar have rewired the precious metals market. The BT Interview features a global tech executive who states plainly that the firm comes to India looking for talent, and the Investing section offers three portfolio strategies for the new year.

The cover story reports that central banks added 1,200 tonnes of gold to their reserves in 2025, led by China, Poland, and India. The RBI alone bought 80 tonnes in the second half of 2025. A dedicated investing section offers three distinct portfolio plays: gold ETFs, sovereign gold bonds, and mining stocks, each with a risk-reward rating. Fixed income's quiet revival is covered with data on corporate bond yields and FD rates.

Regular sections include The Point, BT Interview, Cover Story, and a three-part Investing package.

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Content Guide

▸ Cover Story / Commodities

p.18 · A New Gold Order
Central banks bought 1,200 tonnes of gold globally in 2025, the second-highest annual total on record. India's RBI purchased 80 tonnes in H2 2025 alone, pushing its total reserves to 920 tonnes. The article builds a scenario where gold could reach 88,000 rupees by December 2026 if US interest rates are cut twice before year-end. Portfolio managers can model their gold allocation using the central-buying data and rate-cut correlation presented here.

▸ Interview / Technology

p.12 · We Come to India Looking for Talent
A global technology CEO explains that India's engineering talent pool is now so deep that the company fills 65 percent of its global R&D positions from Indian campuses. The company has increased its fresher hiring target by 30 percent for 2026, focusing on AI and cybersecurity roles. University placement cells can use the 30 percent hiring increase figure in their industry demand presentations.

▸ Investing / Markets

p.26 · New Year, New Hope
The article presents three portfolios for 2026: conservative (60 percent debt, 30 percent gold, 10 percent equity), balanced (40 percent equity, 30 percent debt, 20 percent gold, 10 percent cash), and aggressive (70 percent equity, 20 percent gold, 10 percent debt). Historical back-testing shows the balanced portfolio delivered 11.2 percent annualised returns over the past 3 years. Financial advisors can use the three-portfolio framework in client review meetings.

p.30 · Fixed Income's Quiet Revival
Corporate bond yields for AAA-rated 10-year papers have stabilised at 7.4 percent, while tax-free bonds from NHAI and PFC offer 6.8 percent post-tax equivalent for investors in the 30 percent bracket. The article recommends a laddered maturity strategy across 2, 5, and 10-year papers. Fixed-income investors can build a ladder using the specific bond issuers named in the article.

p.34 · Doubling Down on Luxury
Luxury goods spending in India crossed 12 billion dollars in 2025, driven by watches, jewellery, and high-end automobiles. The article profiles three listed companies — Titan, Senco Gold, and P N Gadgil Jewellers — that have outperformed the Nifty consumer index by 15 percent over 12 months. Consumer equity analysts can use this as a sector thesis starter.

▸ Economy

p.8 · Economic Resilience
The Point column reports that India's Q3 GDP grew at 6.9 percent, with manufacturing expanding 7.2 percent and services at 6.8 percent. The fiscal deficit for April-December 2025 stood at 72 percent of the full-year budget estimate, leaving room for pre-election spending. Economists can use the fiscal headroom data in their 2026-27 budget forecasts.

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Editor's Take

The gold cover story is well-timed for an audience watching inflation and central bank policy, and the data on RBI's 80-tonne purchase is a concrete hook. The three-portfolio investing package is the issue's strongest feature — it gives readers a usable framework rather than generic new-year advice. The luxury goods piece is a smart consumer-sector add. The weak point is the BT Interview, which is too generic: the executive's comments on India talent are positive but offer no proprietary insight. The issue also lacks a tech or policy feature, which reduces its relevance for readers outside the investing and wealth-management audience.

Strengths
• Central bank gold buying data makes a strong cover hook
• Three-portfolio framework is genuinely actionable
• Luxury goods spending data supports a useful consumer thesis

Weaknesses
• BT Interview lacks proprietary content
• No technology or policy feature to broaden appeal

Verdict: Recommended — Buy for the gold analysis and investing package; wealth management professionals will find the portfolio framework immediately useful.