Gold fell in the opening trade on Monday ahead of the US Federal Reserve’s policy meeting outcome due on Wednesday. The MCX April gold futures were trading at Rs 65,352 per 10 grams, down Rs 190 or 0.29% while the May Silver contracts were trading at Rs 75,356 per kg around 9:10 am, lower by
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Yen’s continued weakness persists in today’s subdued market, despite growing expectations for a BoJ rate hike in the upcoming Asian session—a move anticipated to conclude its longstanding negative rates policy. Although the anticipated adjustment from -0.10% to 0.00% may seem minor, its symbolic significance for the Japanese economy is profound, as it heralds a new
Four key indicators from China. The January-February data has been combined to account for the moveable Lunar New Year holidays each year. Data released by China’s National Bureau of Statistics (NBS). Industrial Production y/y +7.0%, a beat expected +5.0%, prior +6.8% Retail sales y/y +5.5%, a beat expected +5.2%, prior +7.4% Fixed asset investment y/y
Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 47 cents or 0.6% to $84.95 a barrel at 1434 GMT, a day
UPCOMING EVENTS: Monday: China Retail Sales and Industrial Production, Canada PPI, US NAHB Housing Market Index. Tuesday: BoJ Policy Decision, RBA Policy Decision, Eurozone Wage data, Eurozone ZEW, Canada CPI, US Housing Starts and Building Permits. Wednesday: PBoC LPR, UK CPI, FOMC Policy Decision, New Zealand GDP. Thursday: Australia/Japan/Eurozone/UK/US Flash PMIs, Australia Labour Market report,
Gold, with its timeless allure, has always been a beloved form of investment for Indian investors. Its rescind lifetime highs would be inspiring to gold enthusiasts. A perfect hedge against inflation, gold has been a safe haven, an epitome of stability. For centuries, in the face of economic upheavals, currency fluctuations, and geopolitical changes, gold
The major European indices are closing with mixed results: German DAX, -0.03% France CAC, +0.04% UK FTSE 100, -0.20% Spain’s Ibex, +1.02% Italy’s FTSE MIB +0.57% For the trading week, major indices moved higher led by Spain’s Ibex.: German DAX, +0.69%. The index did reach a new all-time high at 18039.05 before rotating lower France
Gold prices recently touched a historic high in both the international and domestic markets. The benchmark London Spot Gold hit a lifetime high of $2195 an ounce in the first week of March, surging more than 6 percent so far this year. Tracking the overseas sentiment, domestic gold prices also surged, placing prices well above
Dollar ended the week as the strongest currency, boosted by the fresh round of inflation data that led markets to reassess expectations around Fed’s rate cuts. This recalibration was also marked a pronounced rebound in treasury yields and a notably cautious sentiment pervading the stock market. Despite this rally, Dollar remained confined within the previous
ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices. Key Points: Steady Global Consumption: Global gold demand remained consistent at
The metal was down over 1% on the week as it posted its second consecutive weekly loss. It closed 0.24% lower at $2156 Friday on hotter than expected US export price Index data (February). The ten-year US yields at 4.308% were up 0.38% on the last trading day of the week; however, the yields surged
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices held steady on Friday as they looked set to log their first weekly drop in four as investor hopes of a U.S. interest rate cut in June took a hit after data over the week showed bubbling price pressures. Spot gold was little changed at $2,163.10 per ounce, as of 10:17 a.m. EDT
Dollar rebounded strongly overnight along with rally in treasury yields, and maintained its strength in Asian session. This resurgence is largely attributed to traders recalibrating their expectations for Fed’s monetary policy, in light of this week’s inflation data that surpassed forecasts. Both CPI and PPI reports for this week have painted a picture of persistent
The major US stock indices are trading lower to start the final trading day of the week. The declines are led by the Nasdaq index. The declines have erased the modest gains for the week for the broader indices. The Dow Industrial Average is still marginally higher. The snapshot of the market seven minutes into
Gold traded on a positive note in the early trade on Friday. The MCX April gold futures were trading at Rs 65,717 per 10 grams, rising Rs 122 or 0.19% while the May Silver contract was trading at Rs 75,480 per kg around 9:40 am, up Rs 254 or 0.34%. MCX Gold and Silver gave
Yen’s pull back continues today despite more positive news on wages negotiations in Japan. Remarkably, the currency has undone its gains from last week against all major counterparts, barring the even more beleaguered New Zealand Dollar. Expectations are still leaning towards an imminent interest rate hike by BoJ; however, speculation is rife that the central
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not