NEW DELHI: Gold futures fell marginally on Friday morning, as the dollar stayed firm amid expectations of a 75-basis-points Fed rate hike in July. Gold August futures fell Rs 44 or 0.09 per cent to Rs 50,550 per 10 grams on in early trade. Silver July futures were trading flat at Rs 59,505.00, up Re
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Overall, the forex markets are pretty much staying in range, except for a few. Aussie and Kiwi are the weaker ones for the week, as weighed down by negative sentiment, as well as falling commodity prices But Dollar isn’t too far behind, following the pull back in treasury yields. Swiss Franc and Sterling are the
Oil has been a crazy trade this week with the commodity getting pounded — seemingly without an oil-specific catalyst — only to start a bounce on Wednesday. Crude ended last week at $109.56 and sank as low as $101.53 on Wednesday. Now it’s trading up $4 today to $108.19. If it can gain another $1.40,
New Delhi: Gold prices declined by Rs 70 to Rs 50,557 per 10 grams in the national capital on Friday, according to HDFC securities. In the previous trade, the precious metal settled at Rs 50,627 per 10 grams. Silver prices also declined by Rs 621 to Rs 59,077 per kg from Rs 59,698 per kg
Swiss Franc is staying as the strongest one for today while markets are rather quiet elsewhere. Yen turns slightly weaker and US and European yields recover. But Dollar is also weak on overall steady sentiment. As for the week, however, Aussie and Kiwi are the worst performers, followed by Yen and Dollar. Swiss Franc and
USD/JPY basically did a lap today, rising soon after the Japanese data was published but soon dropping back again to be little net changed for the session Japanese CPI for May was mixed. Headline inflation was lower than estimates while core’ (Japanese core inflation excludes fresh food) had its second month in a row above
June 24: Gold prices were steady on Friday, headed for their second straight weekly decline, with worries over major central banks potentially implementing big interest rate hikes to target runaway inflation weighing on appetite for bullion. FUNDAMENTALS * Spot gold was flat at $1,823.20 per ounce by 0113 GMT, after hitting a one-week low of
While the stock markets are steady, Aussie, Kiwi, and to a lesser extend Loonie, are trading generally lower. Decline in commodity and energy prices, on concerns over recession, appear to be weighing down on these currencies. Copper prices dropped to the lowest level since March 2021, while iron ore price has fallen 15% in 2
The US dollar is under broad pressure as the narrative shifts away from inflation and towards the rising likelihood of a recession. That’s after the S&P Global composite PMI for the US fell to 51.2 from 53.8. It had been expected to remain relatively stable. The comments in the report were troubling as the outlook
Oil prices sold off over the past days, dropping below USD 110 from above USD 125 mid-June. Recession fears have their grip on markets, but the mood swing is rather one of ebbing optimism than swelling pessimism. We struggle to see lasting scarcity. Russian oil still finds its buyers and the cargoes simply take the
Euro falls broadly today after worse than expectation PMI data. Aussie and Loonie are also weak as commodity prices pull back. On the other hand, Yen and Swiss Franc are rebounding, following the rather deep pull back in US and European benchmark yields. Stock markets are mixed with European indexes trading in red, but US
USD/JPY dribbled slowly lower for the session and as I post the wrap has accelerated to the downside. Former Japanese Vice Finance Minister for International Affairs, Takehiko Nakao, who was responsible for instructing Bank of Japan intervention in the yen should he deem it necessary, was reported on news wires a few minutes ago as
Gold prices were a touch lower on Thursday, with some support from a weaker dollar and U.S. Treasury yields, after the Federal Reserve’s head said the central bank was fully committed to reining in inflation, and would try not to spark a recession in the process. FUNDAMENTALS * Spot gold was down 0.1% at $1,835.88
Overall risk sentiment is rather indecisive in the markets. While US stocks staged a strong rebound overnight, there is no follow through buying in Asia. Dollar and Yen are trading mildly higher today, together with Swiss Franc. New Zealand Dollar is leading commodity currencies lower. Sterling is mixed for now but more volatility is likely
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
Gold price in the national capital on Wednesday fell by Rs 205 to Rs 50,487 per 10 gram in line with a decline in international rates of the precious metal, according to Securities. In the previous trade, the yellow metal settled at Rs 50,692 per 10 gram. Silver also tumbled by Rs 926 to Rs
Risk aversion seems to back in indecisive markets today, with major European indexes and US futures trading down. Yen and Swiss Franc are trading mildly higher, followed by Dollar. Sterling and Canadian receive little support from strong consumer inflation reading. But Aussie and Kiwi are the worse performers while Euro is mixed. Focus will turn
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