Gold in the national capital on Monday declined by Rs 114 to Rs 50,561 per 10 grams amid decline in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,675 per 10 grams. Silver also declined by Rs 136 to Rs 56,760 per kg from Rs 56,896
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Dollar’s rally is accelerating as markets enter into US session. Swiss Franc and Canadian are following the greenback. But Australian Dollar is the worst, together with New Zealand Dollar. But Yen is also weak, with little help from risk off sentiment. Euro is mixed even though a market inflation gauge, the five-year, five-year forward inflation
The pantomime of choosing the next leader of the Conservative Party, and thus the Country, begins this week. There will be many many twists and turns, plus a whole lot of sh*t flung. As with most things surrounding the workings of British politics, it can all seem a bit confusing at times, so here is
NEW DELHI: Gold prices were trading flat, almost unchanged, on Monday as the firm US dollar dented the appeal for the yellow metal. The bullion was pinned near a nine-month low seen last week. Gold marked a fourth straight weekly loss on Friday, having hit its lowest since late September a few sessions prior, hurt
Yen’s selloff resumes in Asian session with USD/JPY making new recent high. The ruling coalition of Liberal Democratic Party and its junior partner Komeito scored a strong victory in Japan’s upper house elections. There might be sympathetic votes for the tragic death of former Prime Minister Shinzo Abe. But it’s also seen as a nod
The Federal Reserve surely hasn’t finished hiking rates and there’s no sign of a pivot towards anything more-dovish but there’s a chance we’ve already seen the bottom for risk assets. It all hinges on bond yields.The market is forward-looking and there’s no market more in tune with the Fed and inflation outlook than bonds. Lately,
Central banks around the world are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass Covid-19 testing in Shanghai this week caused worries about potential lockdowns that could also hit oil demand. Brent posted a weekly decline of about 4.1 per cent and WTI a loss of
MUFG Research is holding two trades in its portfolio this week, adding EUR/USD shorts and maintaining a long position in USD/CAD as it tests the highs of the year. The new EUR/USD trade is from spot with a target of 0.97 and a stop at 1.04. That would be a quick move through parity, perhaps
It was a dismal week for commodities as most of them recorded multi-month lows amid growth worries and firmness in the US dollar. Gold was not left out as it fell 3.8 per cent marking its fourth weekly decline and tested the lowest level since September 2021. Gold, a safe haven, an inflation hedge, and
Sri Lankan President Rajapakse and Prime Minister Wickremesinghe were forced to flee today after enormous anti-government protests. Huge crowds stormed official government buildings and took over the President’s home. Videos showed protestors swimming in his pool. The Prime Minister’s home was set on fire. The speaker of the legislature is trying to pull together an
Oil prices slipped in early Asian trade on Friday, following a rebound in the previous session, as investors remained torn between worries over tight global supplies and fears a recession could dampen oil demand. Brent crude futures fell 39 cents, or 0.4%, to $104.26 a barrel by 0013 GMT, dropping away from a near 4%
Euro ended as the worst performer last week on increasing worries of a deeper and longer recession. Selloff in the common currency also dragged down Swiss Franc, which ended as the second worst. Sterling was originally pressured by stabilized after UK Prime Minister Boris Johnson announced to step down after another scandal. But Yen was
India Gold August futures were trading higher on Friday tracking the positive trend seen in the international spot prices as the dollar came slightly off two-decade highs. Despite the pullback, bullion is set to post its biggest weekly drop in more than a month as the elevated greenback hit demand, said a Reuters report. Gold
The US jobs report added 372K new jobs in June. That was higher than the 268K estimate. Admittedly, there was a revision of -74K over the last two months (with May revised to 384K from 390K). Nevertheless, if the current month was adjusted for that number, a net addition of 298K (372K – 74K revision)
Recession fear is currently the main theme in the markets, with Euro and Sterling hardest hit in the currency markets. Canadian Dollar is somewhat a distant third weakest, as dragged down by oil prices. Nevertheless, Aussie and Kiwi are relatively resilient. Yen and Dollar are at par in strength for now. But they could soon
A commonly-heard refrain from those lamenting inflation is that the government gave workers too much money during the pandemic and that ‘nobody wants to work anymore’. Well workers weren’t the only ones who benefited from government largess. The enormous $800 billion Paycheck Protection Program — the largest and fastest of Washington bailouts — was a
Copper retreated in London on Friday and was on track for its fifth straight weekly loss, as worries about COVID-19 curbs in China outweighed hopes for stimulus for the top metals consumer. Three-month copper on the London Metal Exchange fell 0.5% to $7,780 a tonne by 0428 GMT. On the Shanghai Futures Exchange, the most-traded
Dollar rises in early US session after stronger than expected non-farm payroll data. It’s also supported by extended rebound in 10-year yield, which reclaims 3%. Euro also follows German yield higher. On the other hand, Canadian Dollar turns softer after poor employment data. Yen is mixed after the tragic death of former Prime Minister Shinzo