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Gold prices in the national capital rose by Rs 138 to Rs 49,786 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had closed at Rs 49,648 per 10 grams. Silver also jumped by Rs 224 to Rs 56,514 per kilogram from Rs 56,290 per kg in the previous
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Dollar is extending its broad-based rally today. But other positions are somewhat changing. Sterling is now recovering as traders take profit, while awaiting an unconfirmed statement from BoE. Euro is also paring some recent losses. Meanwhile, Swiss Franc, Yen and Canadian soften in general. Australian and New Zealand Dollar are mixed. Technically, while Sterling recovers,
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Sterling’s free fall extends into Asian session today, even against the weak Euro which is pressured against all other major currencies. Dollar is currently the strongest one and would likely remain so for now. Yen, Swiss Franc and Canadian Dollar are also firm. Australian and New Zealand Dollar are mixed for now, but both are
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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
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Base metals had an eventful week. The complex held up relatively well this week, despite several central banks hiking rates and the stronger dollar. The Fed hiked rates by 75 bps and offered hawkish future guidance. The sentiment was also hit by Moscow’s new mobilization campaign in its invasion of Ukraine. Earlier in the week,
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This is the time of year when C-suites and corporate boards meet to discuss growth plans for the year ahead. In light of the price action in financial markets, those dicussions are going to be much different than they would have been a month ago. Borrowing costs are skyrocketing and uncertainty about the economy is
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Sterling is in free fall today as markets reacted negatively to the “mini-budget” of the new government. Selloff came after Finance Minister Kwasi Kwarteng announced to cancel and planned rise in corporation tax, reverse a recent rise in income tax, and cut taxes for businesses in designated investment zones. Swiss Franc is currently the biggest
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Prior 50.9 Manufacturing PMI 48.5 vs 47.5 expected Prior 47.3 Composite PMI 48.4 vs 49.0 expected Prior 49.6 UK economic activity is seen declining at its quickest pace since January 2021, as cost pressures remain high and demand conditions wane. This arguably confirms that the economy is already in a (technical) recession and with the
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