New Delhi: Gold prices climbed to Rs 53,000 per 10 grams this week before retreating marginally. The yellow metal has been in demand lately, rising from Rs 50,000 per 10 grams in the last four weeks. After a Rs 3,000/10 gms rally, the yellow metal is marching towards its record highs of around Rs 56,200
News
Positive market sentiment boosts Kiwi, Aussie higher but Canadian is lagging far behind as dragged down by falling oil prices. Sterling is also firm after mixed retail sales data. On the other hand, Swiss Franc and Dollar are following Loonie as the next worst performer for the data. But after all, the greenback are still
After the dollar selling that took the pair below 140.00, we haven’t seen an extended drop just yet even as price continues to keep below its 100-day moving average (red line): The lack of drive to the downside is helped by the fact that the dollar is starting to put up more of a fight
Oil prices rose on Friday as the dollar slipped but were headed for hefty weekly losses on expectations there will be no let-up in sharp U.S. interest rate hikes and the prospect of weaker demand from top oil importer China amid rising COVID-19 cases. Brent crude futures clawed back 67 cents, up 0.8% to $90.45
The forex markets continue to stay in consolidative mode in Asian session. Dollar’s recovery attempt overnight was rather short-lived. Sterling also regains some ground after initial reaction to the UK government’s new budget. Yen is also soft despite strong CPI data from Japan. Overall, New Zealand Dollar is the strongest for the week so far,
ING Research discusses GBP outlook and maintains a cautious bias into year-end. “The only thing going for sterling is buy-side positioning. Being short the pound had been one of the most popular buy-side trades going into October. We have seen what positioning has done to crowded long dollar trades over the last week. It is
Among precious metals, silver staged a quick recovery in the last two and a half months as the white metal has surged Rs 10,000 per kilogram (kg) from Rs 52,000 to Rs 62,000 during the given period. Compared to its peak for the year, silver topped Rs 73,000/ kg mark during March on the back
Dollar’s recovery is starting pick up momentum in early US session, as risk off sentiment deepens. The development is reflected in broad based selloff in Australian and New Zealand Dollar. Sterling is also weak as mild reaction to UK’s new budget statement. Canadian Dollar and Euro are the firmer ones next to Dollar, while Yen
After the whole ‘mini-budget’ fiasco, which culminated in Liz Truss losing her position as prime minister, we are now seeing calmer tones in UK politics but not necessarily that much for the better. The fiscal statement today will be a stark contrast to Trussnomics as UK chancellor, Jeremy Hunt, will unveil a package of tax
NEW DELHI: Gold prices were trading lower on Thursday, slipping on the back of a firm US dollar after better-than-expected US retail sales data clouded hopes of a smaller rate hike. On the other hand, Poland’s president on Wednesday said a missile that hit his country was probably a stray Ukrainian defence projectile, dispelling fears
The forex markets are still engaging in corrective trading in Asian session today. Despite stronger than expected job data, Aussie trades lower following mild risk-off sentiment. Kiwi, Loonie and Sterling are are softer. On the other hand, Dollar, Yen and Swiss Franc are the firmer ones, while Euro is mixed. For now, the selling in
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 rose by Rs 320 to Rs 53,449 per 10 grams in the national capital on Wednesday in line with firm global trend and depreciation in the rupee, according to Securities. In the previous trade, the precious metal had closed at Rs 53,129 per 10 grams. Silver, however, dropped Rs 125 to Rs 62,682
The financial markets are generally quiet today, with European indexes and US futures trading slightly lower into US session. In the currency markets, most major pairs and crosses are stuck inside yesterday’s range, with Yen and Dollar on the softer side, Euro and Swiss Franc on the firmer side. Sterling and Canadian Shrug respecting inflation
It all started with markets fearing the worst, that is Russia stepping up its aggression before the US and allies started to realise that perhaps something is amiss here. That was enough for the risk mood to recover a little but now we are seeing a better recovery ahead of European trading as US officials
Gold prices rose, nearing three month high in Wednesday’s trade as cooling US inflation signalled bets for smaller rate hikes. Rekindled geopolitical tensions due to missile blast in Poland also pushed gold prices higher. Gold futures on were trading up by 0.48% or Rs 254 at Rs 52,999 per 10 grams. Similarly, silver futures jumped
The selloff in Dollar overnight didn’t last very long. The greenback is trying to recovery in Asian session, as traders turned cautious on news that Poland was struck by a Russia-made projectile. But overall trading is subdued so far. Aussie and Kiwi are the strongest ones for the week at this point, supported by optimism
At least 2 people are dead after Russia missile lands in NATO state Poland on the Ukraine border (CLICK HERE for the story). It is unclear if the missiles are from Russia’s mass bombardment of Ukrainian cities earlier today. It is reported that over 100 rockets were launched. US stocks have moved lower on the