Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. FUNDAMENTALS Spot gold was flat at $1,671.60 per ounce by 0107 GMT. U.S. gold futures ticked 0.1% higher
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Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among
This via the folks at eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. “With the energy price cap included, the fiscal impact could be up to GBP 250bn which will
Gold price in the national capital rose by Rs 442 to Rs 50,399 per 10 grams on Thursday amid a rise in international precious metal prices and sharp rupee depreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 49,957 per 10 grams. Silver also climbed by Rs 558 to
Extreme volatility was seen in the markets in the past 24 hours. Yen rebounds broadly today after Japan confirmed that “decisive” currency intervention was made. That came after BoJ stood pat and pledged to keep rate at low level. Swiss Franc was sold off sharply after SNB hiked 75bps, but hinted at the possibility of
The pair has taken a nosedive from 145.80 to a low of 142.48 currently as Japanese authorities step in to buy the yen against the dollar for the first time since June 1998. It’s a historic move in markets and a massive signal of their resolve. I was definitely one that had been underestimating the
NEW DELHI: Gold prices dropped on Thursday, hovering near two and a half year lows after the US Federal Reserve increased interest rates by another 75 basis points and flagged more hikes. Fed Chair Jerome Powell vowed that he and his fellow policymakers would “keep at” their battle to beat down inflation, as the US
Dollar broke out to the upside overnight following hawkish Fed hike. At the same time, it’s closely trailed by Swiss Franc for now, on geopolitical risks. Risk aversion is also keeping Yen afloat in crosses, despite strong rally in treasury yields. For now, Kiwi is the worst performer for the performer among the weak commodity
The major US stock indices are closing lower and near lows for the day as traders react to the more hawkish Fed rate projections. The Fed now sees a end of year rate of 4.4% which is higher than the markets expectations going into the report. They also see the terminal rate at 4.6% in
Gold prices in the national capital rose by Rs 152 to Rs 49,871 per 10 grams on Wednesday, amid a rise in international precious metal prices along with rupee depreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 49,719 per 10 grams. Silver also jumped by Rs 333 to
Euro is sold off broadly, together with Sterling, after Russia announced partial military mobilization. Reactions in European stock markets are muted, nevertheless. For now, Swiss Franc is the strongest one for today, followed by Dollar, Canadian and Yen. Aussie and Kiwi are mixed. Focuses will now turn to FOMC rate decision first, followed by BoJ,
The key takeaway from Putin’s announcement is that Russia has stepped up its aggression in maintaining a key focus on the conflict in Ukraine and that presents more relative uncertainty to markets. After having seen what happened with natural gas supplies, there is a risk that we could see that carry over to oil markets
NEW DELHI: Gold prices were trading flat on Wednesday, hovering near their lowest levels since April 2022 as investors prepared for the likelihood of another super-sized interest rate hike from the US Fed in its effort to tackle inflation. The dollar index hovered close to a two-decade high marked earlier this month, while the benchmark
Dollar is staying as the strongest one for the week as markets await FOMC rate hike. Yet, the greenback is still held below last week’s high against most counter parts except Loonie and Kiwi. Swiss Franc is also resilient while markets are speculation a larger than expected hike by SNB later on Thursday. Commodity currencies
Putin’s speech today was pre-recorded and all kinds of rumors have been flying around regarding what he will say. It was supposed to come today but it’s been pushed back now until 8 am Moscow time, according to reports. All the schedule changes and buzz have certaintly added to the anticipation. It’s a pre-recorded speech,
Gold prices rose by Rs 24 to Rs 49,766 per 10 grams in the national capital on Tuesday, according to Securities. In the previous trade, the precious metal settled at Rs 49,742 per 10 grams. Silver, in contrast, declined by Rs 222 to Rs 57,192 per kg from Rs 57,414 per kg in the previous
Canadian Dollar falls broadly in early US session after weaker than expected inflation reading. Yet, it’s still undecided on which currency is worst. Dollar is current in the driving seat, as lifted by extended rally in treasury yield. 10-year yield is trading up above 3.5 handle for the first time in more than a decade.
The session yesterday featured a quieter mood as Europe was honed in on Queen Elizabeth II’s funeral. The return of UK markets might offer better liquidity conditions but overall, the look and feel in markets may be fairly more tepid and indecisive as we count down to the FOMC meeting decision tomorrow. The dollar is