Gold prices held steady above the key $2,000 level on Wednesday, supported by prospects of interest rate cuts from the Federal Reserve next year, with investors awaiting for U.S. inflation numbers later this week. FUNDAMENTALS Spot gold was little changed at $2,038.49 per ounce, as of 0106 GMT. U.S. gold futures were unchanged at $2,051.60.
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Canadian Dollar jumps against US Dollar in early US session. The move is primarily attributed to Canada’s CPI data, which came in stronger than anticipated, signaling persistent inflationary pressures. Despite this uptick, CAD is not leading the pack, as it faces stiff competition from others, including the buoyant Sterling. Pound’s significant rise can be traced
Major US indices are trading to new session highs. For the S&P index since now within 0.8% of its all-time high closing level at 4796.57. The all-time intraday high comes in a 4818.62. The current price is trading at 4758.58 or 18 points or 0.3% (the high price reached 4760.19). Meanwhile, the Dow Industrial Average
“We are relatively bullish on gold, and we believe gold will continue to give an impressive return next year. Comex gold can rally to $2,100/$2,180 levels per ounce in 2024 and is expected to trade in a broader range of $1,925 to $2,180 in 2024, Anuj Gupta, Head Commodity & Currency, HDFC Securities said. The
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 Tuesday helped by a weaker dollar, as investors awaited more U.S. economic data this week that could shed light on the Federal Reserve‘s monetary policy outlook amid surging market expectations of interest rate cuts. FUNDAMENTALS * Spot gold was flat at $2,027.15 per ounce, as of 0105 GMT. U.S. gold
Japanese Yen is extending its broad-based pullback today. This movement appears to be a strategic response from traders lightening their positions in anticipation of the upcoming BoJ policy decision. Although a rate hike by the BoJ seems highly unlikely at this stage, there is speculation about potential adjustments in the central bank’s communication. These changes
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 struggled for momentum in the early trade on Monday as Street awaits for US inflation data due later this week for more clarity on the Federal Reserve’s interest rate path after a dovish pivot last week. The lackluster trade was despite the dollar index trading in red. Taking cues from the price of
New Zealand Dollar strengthens broadly in an otherwise quiet Asian session today, leading Aussie along with it. This notable rise can partly be attributed to two key domestic factors: a significant improvement in consumer sentiment and robust data from the country’s services sector. In the broader context, Kiwi’s strength is also accentuated by monetary policy
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 struggled for momentum in early Asian hours on Monday as investors looked forward to U.S. inflation data due later this week for more clarity on the Federal Reserve‘s interest rate path after a dovish pivot last week. FUNDAMENTALS * Spot gold was little changed at $2,019.49 per ounce, as of 0041 GMT. U.S.
UPCOMING EVENTS: Monday: US NAHB Housing Market Index. Tuesday: RBA Meeting Minutes, BoJ Policy Decision, Canada CPI, US Building Permits and Housing Starts. Wednesday: PBoC LPR, UK CPI, US Consumer Confidence, BoC Summary of Deliberations. Thursday: Canada Retail Sales, US Q3 GDP Final, US Jobless Claims. Friday: Japan CPI, UK Retail Sales, Canada GDP, US
Reserve Bank of India (RBI) has set Monday, December 18 as the date for premature redemption of SGB 2017-18 Series XII of the sovereign gold bond. The price for premature redemption is Rs 6,199 per gram. Premature redemption in the SGB scheme is permitted after the completion of the fifth year from the date of
USDCAD daily chart The weather is cooling off in Canada but the currency has heated up. USD/CAD fell to a four-month low today despite some US dollar strength elsewhere. Bank of Canada governor Tiff Macklem helped along the move as he pushed back against rate cut talk. “We have not started having that discussion (about
Brent and U.S. crude futures finished at a small loss following a see-saw session, in which prices fell more than $1 a barrel at one point on Friday, as traders tried to reconcile mixed signals for oil demand in the coming year. Brent futures settled down 6 cents, or 0.08%, at$76.55 a barrel. U.S. West
The financial markets concluded last week on a robust risk-on sentiment, driven primarily by the flurry of central bank activities. The stock markets, in particular, resonated with a bullish tone, cementing their position after Fed’s dovish shift. This sentiment propelled key indices like the DOW, DAX, and CAC to new record highs. Despite a mild
Make it a 7 and 7. That is 7 consecutive up days, and 7 consecutive up weeks for the the Dow and the Nasdaq. The late day rally fizzled into the close for the S&P, however, as it closed marginally lower on the day (but still down). There is two more weeks to the end