After a robust session on Monday, gold prices traded in the red in Tuesday’s session amid profit booking. The recent gains in the yellow metal have been on the downtick in the dollar index (DXY). Gold contracts on MCX hit a fresh lifetime high of Rs 64,575 per 10 grams in the previous session. Street’s
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Market sentiment was clearly mixed in Asian session today, highlighted by Nikkei’s remarkable resilience and Hong Kong’s stocks’ downturn. The day commenced with Nikkei momentarily succumbing to profit taking pressure, dropping below 40k mark after Tokyo’s CPI was reported to have risen to 2.5%. This initial dip, however, was short-lived as the index swiftly recaptured
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
Saudi Arabia, the de facto leader of OPEC, said Sunday that it would extend cuts in oil production through June, noting that it was acting “in coordination with some” other states. Saudi allies including Kuwait and the United Arab Emirates said Sunday that they would also continue their reductions. The decision to keep output cuts
Swiss Franc bounced briefly earlier today, following release of slightly stronger than expected Swiss CPI data, only to see those gains quickly dissipate. With inflation levels persistently below SNB target, market consensus continues to lean towards an interest rate cut within the year, with September eyed as the probable month for the first reduction. However,
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
Notwithstanding a minor correction, gold’s shine remained intact in Monday’s early trade amid hopes of an interest rate cut in June on the back of softer US economic data. The price of yellow metal in the international markets was at a two-month high while on the MCX, this bullion metal is trading at a three-month
Nikkei surges through 40k mark for the first time ever, standing out in an otherwise subdued Asian session. This index was propelled by Japan’s unexpectedly robust capital spending report for Q4, which significantly bolstered investor confidence. While the surge in capital expenditure may not directly sway BoJ’s immediate monetary policy decisions as wages growth remains
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
TOKYO: Oil prices eased early on Thursday after a larger-than-expected build in U.S. crude stockpiles stoked worries about slow demand, while signs that U.S. interest rates could remain elevated for longer also added to pressure. Brent crude futures fell 22 cents, or 0.3%, to $83.46 a barrel by 0124 GMT. U.S. West Texas Intermediate crude
Nvidia is already the third-most-valuable company on the planet, trailing only Microsoft and Apple. It’s the undisputed leader in the production of chips essential for powering the generative artificial intelligence revolution. Companies are throwing as much money as possible at Nvidia in order to stockpile chips in datacenters that will churn out unique images, videos,
Spot gold rallied sharply Friday on disappointing US ISM manufacturing data (February) that showed that manufacturing orders, production, and employment contracted in February. University of Michigan’s consumer sentiment data was also short of forecast, though short-term and long-term inflation expectations were in line with the expectations. Gold prices rose to the highest in a month
Week Ahead 4th – 8th March Mon: Swiss CPI (Feb), South Korean GDP (Q4), Japanese Tokyo CPI (Feb), Tue: US Primary Super Tuesday, Chinese Caixin Services PMI Final (Feb), EZ/UK/US Services and Composite PMI Final (Feb), EZ PPI (Jan), US ISM Services PMI (Feb), South Korean CPI (Feb) Wed: BoC Announcement, Australian GDP (Q4), German
Kotak Mahindra Bank’s senior officials on Thursday said that it aims to grow its gold loan book faster than the industry. Speaking to the media, Manish Kothari, president and head of commercial banking, indicated that there is significant scope for them to expand their gold loan book in India since the market is currently dominated
Yen ended as the best performer last week amidst intensifying discussions around BoC rate hike, spurred by comments from the central bank’s officials. The anticipation of policy tightening propelled Yen forward, although gains were tempered by uncertainties surrounding the timing of the first move, and the path of subsequent rate increases. The claimed the position
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 in the international and domestic markets suffered losses in the first two months of 2024. A strong US dollar, expectations of further delay in US Fed rate cuts, and a rally in global equities affected the sentiment surrounding the metal. The US Dollar has gained almost 3% since the start of January. Firm
Markets: Gold up $40 to $2083 US 10-year yields down 6.8 bps to 4.18% WTI crude oil up $1.51 to $79.78 S&P 500 up 0.8%, Nasdaq up 1.1% Bitcoin up 2.1% to $62,750 AUD leads, JPY lags Happy Friday. It certainly was for the market as a trio of soft second-tier US economic data releases