Gold prices edged up on Thursday as the U.S. dollar ticked lower, but bullion lacked impetus as investors remained on the sidelines in holiday-thinned trading with uncertainty around the Federal Reserve‘s rate path. Spot gold was up 0.2% to $1,993.06 per ounce at 10:27 a.m. ET(1527 GMT), after hitting a three-week high of $2,007.29 on
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PMI data are the main drivers in the forex markets today, particularly lifting Sterling and, to some degree, Euro to higher positions. The bounce in Sterling is chiefly attributed to UK services sector bouncing back into expansion territory, a sign of economic resilience. Additionally, the severity of manufacturing recession in UK seems to be diminishing,
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
Moderating inflation and the likelihood of no further rate hikes by the US Federal Reserve is boosting the appeal of gold which has shot up to three week highs. On Thursday, the yellow metal traded with a positive bias, aided by a weak dollar. Taking cues from the international prices, MCX December gold futures opened
Global financial markets are experiencing subdued activity in Asian session today, with market participants scaling back their activity in light of Thanksgiving holiday. Major US stock indexes managed to close higher overnight, yet there’s a palpable reluctance among investors to propel these indexes to new highs for the year. In contrast, Asian markets are demonstrating
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
LONDON – Oil prices tanked 4% on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts. Brent crude futures was down $3.39, or 4.1%, to $79.06 a barrel by 1412 GMT. U.S. West Texas Intermediate (WTI) crude futures were down $3.26,
Dollar is extending its near term recovery in the early US session. The latest jobless claims data came in better than expected, offering some support to the greenback. However, this was somewhat offset by weaker-than-anticipated durable goods orders. Overall, the current upswing in may not be entirely rooted in these economic releases. The recovery appears
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 traded with minor losses on Wednesday in the early trade after crossing the $2,000 mark on Tuesday. The strength in the yellow metal is owing to the weakness in the dollar index (DXY) which is currently trading at 11 week’s low. Taking cues from the international prices, MCX December gold futures opened in the
As Thanksgiving long weekend approaches, a noticeable tranquility has enveloped the financial markets. The aftermath of FOMC minutes, which revealed a slightly toned-down hawkish stance, has resulted in rather subdued market reactions. Major stock indices have slightly retreated from their recent advances, reflecting a cautious sentiment among investors. Correspondingly, 10-year Treasury yield also concluded yesterday’s
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
Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the producer group may discuss deepening supply cuts due to slowing global growth. Both contracts had climbed about 2% on Monday after three OPEC+ sources told Reuters that the
Canadian Dollar exhibited softness in early US session, a reaction to lower-than-expected consumer inflation readings. This development, indicative of ongoing disinflation, could bolster BoC’s confidence to maintain its current policy stance in the upcoming December meeting. Notably, Canadian Dollar has been unique among major currencies in its inability to break above prior week’s high against
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
Following a slump in the US dollar and weaker treasury yields, December futures of MCX Gold today rose by Rs 377 to Rs 61,034 per 10 gram. December futures of MCX Silver was up 0.74% to Rs 72,644. Gold is expected to find support at Rs 60,580-60,460, and resistance at Rs 61,010-61,230. Silver may have
Japanese Yen’s rally continued in today’s Asian session, breaking through 148 mark against Dollar. This rise raises questions about the reaction of Japanese Finance Minister Shunichi Suzuki, particularly in light of his previous comments during Yen’s decline this year. Suzuki had described the decline as “one-sided” and driven by “speculations.” The current volatility, contrasting the
The USD moved lower today – only outpaced by the CAD as the weakest of the major currencies. The JPY was the strongest. The strongest to the weakest of the major currencies Over the weekend Pimco said they were moving into the JPY on expectations that the Bank of Japan would start to tighten. The