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Gold prices edged higher on Thursday to hover near a 2-1/2-month high as escalating Middle East turmoil lifted demand for the safe-haven asset, while investors looked forward to U.S. Federal Reserve Chair Jerome Powell‘s speech due later in the day. FUNDAMENTALS * Spot gold was up 0.2% at $1,950.83 per ounce by 0127 GMT, after
The Middle East sees a re-escalation in geopolitical tensions following a tragic strike on a Gaza hospital, leading to significant rise in both Oil and Gold prices. The effect of this development extends into Asian session. However, risk aversion is not starkly evident in other markets, as Asian indices, excluding Japan, record only marginal losses.
One of the more-interesting mysteries in the global economy right now is why China’s steel production remains so high. There is no doubt that residential construction has cratered, yet the mills continue to run at 92% capacity. Today’s Chinese GDP data was strong at +1.3% q/q vs 1.0% expected so there may be even more
Gold price jumped Rs 500 to Rs 60,650 per 10 grams in the national capital on Wednesday amid strong global cues in international markets, according to HDFC Securities. In the previous trade, the yellow metal had finished at Rs 60,150 per 10 grams. “Gold prices jumped on Wednesday, following a positive trend in the overseas
The tumultuous environment resulting from the Middle East tensions has prompted a noticeable upswing in Gold and Oil prices today, yet the forex markets remain relatively unaffected. Swiss Franc is currently leading the pack, its ascent likely attributed to the ongoing geopolitical unrest, though its rise is modest. US President Joe Biden’s diplomatic mission to
Chinese Communist Party Xi speaking at the Belt and Road forum: belt and road cooperation has progressed from sketching the outline into filling in the details, blueprints turned into real projects This network has boosted the flow of goods, capital, technology and human resources into countries involved Only when the world is good, China will
Gold prices rose on Wednesday after a deadly blast in Gaza fuelled fears of an escalating regional conflict, keeping the safe-haven asset in demand among nervous investors despite robust U.S. economic data and a high rate scenario. FUNDAMENTALS * Spot gold climbed 0.4% to $1,929.89 per ounce by 0123 GMT, and U.S. gold futures also
The currencies from the Southern Hemisphere, Australian and New Zealand Dollars, saw notable volatility in Asian session today. Aussie is gaining traction following release of RBA minutes, highlighting a low tolerance for inflation surprises and opening the door for another rate hike next month. In contrast, Kiwi is facing downward pressure after disappointing CPI data
NAHB housing market index falls to lowest level since Jan Prior month 45 dollars to 44 NAHB housing market Index for October 40 vs 44 estimate. Lowest level since January 2023. The index has fallen for the 3rd straight month Single-family sales current 46 vs 50 last month. Lowest since January 2023 Single-family sales next
Gold fell on Tuesday for the second session as the investors looked to capitalise on the gains made over the previous week. The MCX December gold futures were trading at Rs 59,045 per 10 gram, down by Rs 121, or 0.20%. Meanwhile, the December silver futures were trading at Rs 70,785 per kg, lower by
Today’s economic data releases are steering the markets, though it is uncertain how sustained their influence will be. Dollar emerges as the day’s strongest performer, buoyed by robust retail sales figures. Australian Dollar trails as the initial lift from RBA minutes dissipates, leaving it in the second spot. Euro is firmer after German economic sentiment
Via Reuters report: The top U.S. general overseeing American forces in the Middle East made an unannounced trip to Israel on Tuesday, saying he hoped to ensure its military has what it needs as it fights a deepening war against Palestinian militant group Hamas. Army General Michael “Erik” Kurilla, head of U.S. Central Command “I’m
New Delhi, The National Stock Exchange (NSE) on Monday said it has launched 13 new commodity derivatives contracts, a move that will help investors efficiently manage their risk. With this launch, NSE offers 28 products in the commodity derivatives segment, the exchange said in a statement. The 13 new derivatives contracts that have been launched
Financial markets are holding steady yet exhibit a sense of nervous anticipation as the new week commences. The conflicts between Israel and Hamas continues to take center stage, with concerns mounting over the potential for the violence to engulf the broader region. Volatility and unpredictability of the geopolitical situation mean that unexpected escalations could stir
The major US stock indices are opening with gains on the day to start the trading week. Last week the Dow industrial average and S&P index both moved higher by 0.45 and 0.79% respectively. The date NASDAQ index fell -0.18%. A snapshot of the market currently shows: Dow industrial average up 209.37 points or 0.62%
Gold price plunged Rs 350 to Rs 60,150 per 10 grams in the national capital on Monday amid weak cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 60,500 per 10 grams in the previous trade. Silver also declined Rs 300 to Rs 74,000 per kg. In the global
A quiet yet tense atmosphere pervades the financial markets today, as traders’ anticipation builds, eyes keenly focused on unfolding developments in the Israel-Hamas conflicts. Such geopolitical uncertainties are casting a shadow over most major trading hubs, prompting cautious moves among investors. In the European markets, major indexes are painting a mixed image. FTSE is registering