COMEX gold prices witnessed another leg of rally and is poised for a third consecutive weekly gain of more than 3.5%, boosted by safe haven bids. The yellow metal started the week on a positive note, as investors rushed for haven assets, amid signs of failure of the Silicon Valley Bank in the US, after
News
US rates moved sharply lower today as banking concerns along with hopes for a more dovish Fed next week, sent funds flowing into US treasuries. Looking at the US treasury curve, the: 2 year: 3.387%, down -29.3 basis points 5 year: 3.504%, down -23.2 basis points 10 year: 3.439%, down -26 basis points 30 year:
Market sentiment seems to have taken another hit as Silicon Valley Bank filed for Chapter 11 bankruptcy today. Bank shares in the US are in sharp decline, dragging down the broader market. Yen surges again, bolstered by falling treasury yields too. Dollar, Euro, and Swiss Franc emerged as the weakest performers for the day, with
Gold price climbed Rs 400 to Rs 58,040 per 10 gram in the national capital on Friday amid a rise in the precious metal prices globally, according to HDFC Securities. The yellow metal had settled at Rs 57,640 per 10 gram in the previous trade. Silver, however, tumbled Rs 430 to Rs 67,600 per kilogram.
WSJ Timiraos on CNBC: 25 basis point hike because skipping hike risks a market melt up the case for a pause boils down to concerns that credit events can turn serious and it’s better to move slowly The Fed decision likely to be dependent on market response in coming days Everything we heard from the
Dollar faces renewed selling pressure as Asian markets exhibit a positive tone, following the overnight rebound in US stocks. The question remains: is the banking crisis over? It seems likely, at least temporarily, as major banks rushed to support First Republic and the situation surrounding Credit Suisse stabilized. If Wall Street’s rebound continues to gain
Gold and silver futures continued their bull run on MCX on Friday, with April Gold futures trading at Rs 58,241 per 10 grams in morning trade, up Rs 235 or 0.41%. Meanwhile, May Silver futures were trading at Rs 67,363 per kg, up Rs 832 or 1.25% around this time. MCX Gold has given returns
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
Euro weakens mildly following the ECB’s decision to increase interest rates by 50bps, in line with their previously stated intentions. However, the absence of any reference to future rate hikes in the accompanying statement hints at the possibility of a pause in upcoming monetary policy meetings. Concurrently, Yen is resuming its recent rally in early
Oil prices clawed back some ground on Thursday, recovering from the previous session’s 15-month lows, as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But market sentiment remained fragile, battered by fears of growing stress on banks worldwide, and both the main crude benchmarks gave up some of Thursday’s
Sources say that a group of financials institutions are in talks to deposit $20 billion in First Republic and attempt to save the company, build confidence, and keep the deposit base solid. The stock has been halted and is trading at $30.14 down -$1.02 or -3.27%. Meanwhile the Dow Industrial Average has pushed to a
Despite regaining some ground in the Asian session, Euro continues to trade as the week’s weakest performer alongside Swiss Franc. Today’s ECB rate announcement is the primary focus for investors, as uncertainty looms over the extent of the anticipated rate hike. The SNB’s efforts to stabilize the markets in response to Credit Suisse’s problems may
Gold and silver futures fell on MCX on Thursday as the US dollar index strengthened, dimming the appeal of safe-haven bullion for Indian investors. April Gold futures were trading at Rs 57,944 per 10 grams at 10:20 am and were down by Rs 392 or 0.67% from Wednesday’s closing price. Meanwhile, May Silver futures were
A potential banking crisis and the ECB. Those are the two big things that markets will care about today and almost nothing else will matter. It’s all very sentiment-driven at the moment and headlines (or lack thereof) are everything at the moment. I could see this playing out in a way that European markets take
The financial markets are once again in a state of panic as Credit Suisse saw its shares plummet by over -20% and hit a new record low, dragging European stocks deeply down with it. Bonds are becoming the go-to for worried investors again, with US 10-year yield breaking the 3.5 handle and Germany 10-year yield
Gold prices climbed over 1% to their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion. Spot gold was up 1.1% to $1,923.00 per ounce at 9:53 a.m. EDT (1353 GMT). U.S. gold futures gained
Credit Suisse meets the capital and liquidity requirements imposed on systemically important banks FINMA and SNB assert that the problems of certain banks in the USA do not pose a direct risk of contagion for the Swiss financial markets Separately, Reuters quotes Swiss MP Thomas Matter who says there is no discussion of state aid
After days of market turbulence, Asian session has been relatively calm today. US stocks recovered overnight with a strong rebound in treasury yields, helping to calm market sentiments. Mixed economic data from China did not seem to have any significant impact on the markets. With the banking crisis slowly fading into the background, focus is