Gold prices inched up in early Asian hours on Tuesday, as the dollar eased off a 20-year high, offsetting pressure from expectations of the U.S. Federal Reserve keeping interest rates higher for longer to combat inflation. FUNDAMENTALS Spot gold XAU= ticked 0.1% higher to $1,739.14 per ounce, as of 0058 GMT. Prices hit a one-month
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Dollar rises broadly in Asian session, extending the post-Powell rally. Risk-off sentiment is a factor giving the greenback another boost. At the same time, 10-year yield is back above 3.1% in Asia, giving Dollar another lift, and hammers Yen at the same time. The trend will likely continue for a while with an empty calendar
The EIA head Birol is no the wire saying that: Further Strategic Petroleum Reserve release not off the table. Stands by the IEA’s report that said no new investlments in oil and gas fields area needed if the world wants to achieve net zero report emissions by 2050 Russian oil production has not fallen as
Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to
Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend
Gold prices fell on Monday, as the dollar held on to gains following U.S. Federal Reserve Chair Jerome Powell‘s signal that the central bank will raise interest rates further to tame sky-high inflation. FUNDAMENTALS Spot gold fell 0.3% to $ U.S. gold futures were down 0.3% at $1,745.3. The dollar index held close to a
South Korea says North Korea nuclear test not imminent, missile launch prep. continues Morgan Stanley neutral on CHF in the near-term, remains core bullish over longer timeframe Goldman Sachs forecasts the UK economy entering a recession in Q4 2022 Australia July retail sales +1.3% m/m (expected 0.3%) China coronavirus cases rising on the day again
It was a challenging week for commodities and gold was not left unaffected. Gold wavered between gains and losses and ended the week with a modest gain of 0.6%. Gold fell for the second consecutive week after four weeks of consecutive gains which shows that bulls are losing confidence and the key $1,800/oz level remains
It’s a rout everywhere in markets today but oil managed to hold up, gaining 58-cents to $93.06. That’s despite the risks of an Iran deal announcement on the weekend (admittedly, those might be two-way risks). In any case, I want to write about what’s unfolding in diesel right now. I believe that’s the metric to
NEW DELHI: Gold prices moved higher on Thursday as the US dollar lost some of its ground ahead of the Jackson Hole symposium. Investors looked forward to a speech by US Federal Reserve Chair Jerome Powell at the Jackson Hole symposium for clues on interest rate hikes and the health of the economy. Gold futures
I’m not a fan of the Dollar Index as a technical indicator but I think it paints the right fundamental picture at the moment. The dollar retraced modestly after a big runup to relieve some overbought conditions and now it’s ready to challenge the July highs. Will it breakout? The Fed The catalyst for today’s
Oil prices rose in early trade on Friday on signs of improving fuel demand, though gains were capped as the market awaited clues from the U.S. Federal Reserve chairman on the outlook for rate hikes in a speech later in the day. Brent crude futures climbed 46 cents, or 0.5%, to $99.80 a barrel at
Markets: S&P 500 down 3.4% Gold down $21 to $1737 US 10-year yield up 1 bps to 3.03% WTI crude oil up $0.34 to $92.86 USD leads, NZD lags There was a dovish lean in the market before Powell as the PCE inflation report came in soft. That was validated by Bostic as he said
In terms of prompting market volatility, Fed Chair Jerome Powell didn’t disappoint. Stocks suffered steep selloff after his Jackson Speech. While Australian Dollar was still at top of the chart, most of its earlier gains evaded on Friday, and looks set to weaken further in the near term. Dollar was the second strongest. But it
NEW DELHI: Gold prices remained subdued on Friday as investors adopted a cautious stance ahead of US Federal Reserve Chair Jerome Powell’s speech at Jackson Hole. The key central bankers’ conference which will be watched for guidance on future interest rate hikes. The dollar index hovered near one-month highs, while benchmark US 10-year Treasury yields
Weekend data out of China’s National Bureau of Statistics, a soft reading for Industrial Profits in July. Profits at industrial firms in China for the first seven months of the year (i.e. January – July) fell 1.1% y/y this compares with the +1.0% for January – June Earlier this month we had the July data
The forex markets are generally steady in Asian session today, as traders are still holding their bets ahead of Fed Chair Jerome Powell’s Jackson Hole speech. US stocks staged a rebound overnight, but there was little reaction elsewhere. For the week, commodity are currently the strongest, led by Aussie. European majors are the worst performers,
Gold prices fell by Rs 254 to Rs 52,031 per 10 grams in the national capital on Friday amid weak global cues, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 52,285 per 10 grams. However, silver, gained Rs 21 to Rs 55,979 per kg from Rs 55,958 per