Gold price in the national capital gained Rs 81 to Rs 51,201 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had settled at Rs 51,120 per 10 grams. Silver, however, dropped Rs 244 to Rs 60,596 per kilogram. In the international market, gold was trading flat at USD
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European majors are the stronger ones for today, with help from better than expected investor confidence data. Sterling is leading the way, followed by Swiss Franc and Euro. While risk sentiment appears to be mildly positive, there is no clear buying in commodity currencies. Instead, they are the softer ones overall. Dollar and Yen are
The US non-farm payrolls continues to run hot in October, with not much to really criticise about the Friday data here. Yet, broader markets were stubborn to ignore it as stocks held firm and that pinned the dollar lower as the week came to a close. The wild swings in relation to the data have
New Delhi: Gold prices edged higher on Monday as the weakness in the US dollar supported the yellow metal. However, profit booking after a sharp rise in the previous session weighed on the bullion’s sentiments. Investors are focused on the US inflation data due later this week. The data is likely to shed some light
The forex markets are rather steady in Asia today. While stocks in China and Hong Kong extending last week’s strong rebound, Aussie and Kiwi are not following for now. Some traders are on guard to rumors of reopening in China, in particular with a district in Guangzhou still extending tough lockdown. The economic calendar is
Here’s the picture in gold the way I see it. 1) It has declined for seven straight months That’s certainly not a sign of a bull market but nothing falls in a straight line and the decline of 13% is better than many major currencies over that period. The decline is mostly a story of
Soybean prices in the benchmark market of Indore gained by 12.4% month-on-month and around 2.3% week-on-week. Prices have given a bullish breakout after trading bearish for 5-month. On November 1 2022, the Ministry of Consumer Affairs, Food & Public Distribution issued a notification on the removal of stock limits on edible oils and oilseeds. The
The US nonfarm payroll came in better than expected at 261K vs 205K estimate. The prior month was revised higher to 315K from 263K. So stronger 300K growth month on month with the revision included. The average hourly earnings came in at 0.4% vs 0.3%. So that was higher. The unemployment rate moved higher to
At first, gold and silver breathed a sigh of relief as the US Federal Reserve pointed to a slower path of interest-rate increases but took a U-turn as the ultimate interest-rate level could be higher than expected. These moves again underpin the dominance of monetary policy for gold and silver. Ultimately, the key question remains
MON: Eurogroup; Chinese Trade Balance (Oct), Swiss Unemployment (Oct), EZ Sentix (Nov), US Employment Trends (Oct), Australian Consumer Sentiment (Nov). TUE: US Midterms, CBR Policy Announcement, BoJ SOO (Oct), EIA STEO; EZ Retail Sales (Sep), US NFIB (Oct). WED: NBP Policy Announcement; Chinese CPI (Oct). THU: Banxico Policy Announcements; Norwegian CPI (Oct), US CPI (Oct),
With a 127% increase in profits, miners have never been better placed to take advantage of new opportunities and ensure sustained outcomes. ESG remains a key pressure point but also an opportunity for miners. According to PwC’s review, the top 40 mining companies’ future success will depend on whether they take a leading role in
The rumor of earlier reopening in China seemed to have overwhelmed other heavy weight events in the markets last week, including Fed’s hawkish rate hike and non-farm payroll report. Late rally in stock markets helped commodity currencies secured the winning places, with New Zealand Dollar having an edge over Australian and Canadian. On the other
The US midterms take place on November 8 and it all likelihood we will have a very good idea of who holds that balance of power that night. However that wasn’t the case in the most-recent US election and it might not be the case again on Tuesday. Ballot counting is fraught by different systems,
NEW DELHI: Gold prices moved higher on Friday after the US dollar took a breather. That said, the yellow metal was headed for a second straight weekly drop. The US Federal Reserve’s hawkish policy narrative clouded the outlook for the non-yielding asset. The Fed raised interest rates by 75 basis points and Chair Jerome Powell
Asian markets are very mixed today, with Nikkei trading lower, following US stocks overnight. But strong rebound is seen in Hong Kong and China. As a result, Dollar is paring some of the post-FOMC gains while commodity currencies recover. It’s also possible that traders are lighting up their positions ahead of non-farm payroll data form
US equity markets have given back huge gains and are now trading flat in a trading day that’s had 4-5 big twists already. Price action today is all about China and whether or not it’s reopening. Art Cashin had a great line on CNBC regarding China reopening talk: A rumor without a leg to stand
Gold price in the national capital rose Rs 604 to Rs 50,869 per 10 grams on Friday, amid strong global trends, according to Securities. In the previous trade, the precious metal had touched Rs 50,265 per 10 grams. Silver also jumped Rs 2,061 to Rs 59,477 per kilogram. “Gold and silver prices posted some gains
Canadian Dollar surges broadly after employment blows past expectations. While US non-farm payroll growth was solid, Dollar reacted more to improving risk sentiment and fall sharply. Yen is the second weakest for the day following the greenback. European majors are gaining against the greenback but are all under heavy selling pressure against commodity currencies. Technically,