Gold along with other commodities rose for the second consecutive week as the US dollar dipped deeper into the red territory. The commodity US dollar inverse relation has strengthened further in the last few days and trends in the US dollar may continue to remain the key price determining factor as market players try to
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The USD is closing the day lower despite some higher than expected inflation measures at the start of the day. The Core PCE came in at 4.8% trend higher than the 4.7% expected. The employment cost index rose by 1.3% for the quarter which was also higher than the 1.2% expectations. University of Michigan consumer
New Delhi, Gold prices rose by Rs 255 to Rs 51,783 per 10 grams in the national capital in line with strong global cues, according to Securities. The precious metal had closed at Rs 51,528 per 10 grams in the previous trade. Silver also surged by Rs 1,610 to Rs 58,387 per kg from Rs
Dollar is recovering in early US session, follow another print of strong consumer inflation. 10-year yield is also back above 2.7% handle. Still, the greenback is the worst performer for the week together with Euro. Yen is retreating mildly but stays the strongest one for the week, followed by Sterling. Commodity currencies are mixed, slightly
Let’s take stock of the data releases first today. Here are the preliminary Q2 GDP figures, which exemplifies resilience despite mounting inflation pressures and the Russia-Ukraine conflict: And here are the consumer inflation figures for the month of July: The overall Eurozone readings tell the story for the most part but it belies underlying sentiment
NEW DELHI: Gold prices inched up on Friday but were set for a fourth consecutive monthly drop, pressured by the strong performance of the greenback and rising US bond yields. However, the metal is set for its best week since mid-May. The US economy unexpectedly contracted in the second quarter, raising risks of an economic
Yen’s rally intensified overnight and continues in Asian session. The move came in particular as US 10-year yield tumbled following the poor GDP report. For now, Dollar and Euro are the worst performing ones for the week, followed by Canadian. Sterling is following Yen as the second strongest and then Aussie. A large batch of
Today’s GDP data from the US confirmed the country is in recession: IF you use the common ‘two consecutive quarters of GDP shrinkage’ definition. Not everyone uses that defintion, economists endlessly debate recession definitions. Believe me, it really is endless (and endlessly tedious IMO) … Anyway, moving on. The US does not, officially, use the
Gold in the national capital on Thursday jumped Rs 592 to Rs 51,750 per 10 grams, amid a rally in international precious metal prices, according to Securities. In the previous trade, the yellow metal finished at Rs 51,158 per 10 grams. Silver also surged by Rs 1,335 to Rs 56,937 per kg from Rs 55,602
Yen rises strongly today, and buying intensifies in early US session, after surprisingly poor US GDP data. Benchmark treasury yield in both the US and Germany tumble sharply, aiding Yen’s advance. Swiss Franc is also strong For now, Euro is the worst performer for today, as selling started earlier in European session already, while Sterling
Some heavy flows in Asia kicked down the pair with the yen gaining across the board but we are seeing USD/JPY sellers pull short of firmly contesting the 135.00 mark. In the big picture, we’ve been somewhat caught around the range of 135.00 to 140.00 since the start of the month and as much as
NEW DELHI: Gold prices extended their gains on Thursday as comments from the US Federal Reserve chair Jerome Powell on future interest rate hikes sounded less hawkish than feared, dragging dollar and treasury yields lower. The US central bank on Wednesday raised rates by three-quarters of a percentage point for the second straight meeting to
Dollar was sold off broadly overnight and stays weak in Asian session. Markets well received Fed Chair Jerome Powell’s message that tightening pace is going to slow ahead. While stocks also rebounded, Yen reacted more to falling benchmark treasury yields. As for the week, the greenback is now the worst performer. Euro follows as second
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Gold in the national capital on Wednesday rose Rs 115 to Rs 51,166 per 10 grams, amid a rise in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 51,051 per 10 grams. Silver also climbed Rs 482 to Rs 55,485 per kg from Rs 55,003 per
The currency markets continue to be relatively steady today, as traders are holding their bets ahead of Fed’s expected 75bps rate hike. Euro is recovering slightly but remains the worst performer for the week, followed by Yen. On the other hand, Canadian Dollar is leading Australian and Sterling higher. Dollar is mixed for now. The
There’s not much to really contemplate when looking at markets at the moment as all eyes are on the Fed decision later today. As mentioned earlier, the first thing traders are going to look for will be the rate decision (75 bps or 100 bps) but the main takeaway is more than likely going to
NEW DELHI: Gold price little changed on Wednesday ahead of the Federal Reserve’s outcome as investors stayed cautious over the outlook for the bullion. The US central bank is widely expected to raise interest rates by another 75 basis points (bps) at the conclusion of its policy meeting on Wednesday, as it attempts to tame