China reported a seventh consecutive day of record covid cases at 24,101 with 21,222 of those in Shanghai as the outbreak continues to spread. Mass testing is continuing and there’s no end in sight to a lockdown that was supposed to end April 5. Traffic at the airport is largely grounded and the world’s largest
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New Delhi: India’s gold imports, which have a bearing on the country’s current account deficit (CAD), rose by 33.34 per cent to $46.14 billion during the 2021-22 fiscal on account of higher demand, according to official data. Gold imports were worth $34.62 billion in 2020-21. The surge in gold imports during the last financial year
There’s no end in sight to the lockdown measures restricting 25 million people and the world’s largest port in Shanghai. Daily infections rose to 23,624 nationally in China with the vast majority in Shanghai. A new round of mass testing was ordered and lockdowns are no expected to last through the month. Difficulties in getting
Gold prices inched lower on Thursday as the U.S. dollar firmed after minutes of the Federal Reserve‘s March meeting indicated an aggressive stance to combat inflation, denting the safe-haven metal‘s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,922.08 per ounce by 0125 GMT. U.S. gold futures rose 0.2% to $1,926.10. * The dollar
The major US indices are closing mixed with the Dow industrial average higher, while the S&P, NASDAQ and Russell 2000 are all lower NASDAQ and S&P is down for the third time in four trading days S&P and NASDAQ have the first weekly loss in four weeks All three major indices close lower for the
For India’s fuel consumers, reprieve continues for the third straight day as petrol and diesel prices remained unchanged. Since March 22, fuel prices have seen a Rs 10 a litre jump after 14 revisions. Petrol in Delhi retails at Rs 105.41 per litre, while diesel is Rs 95.87 per litre to Rs 96.67. In Mumbai,
Dollar was initially mixed last week but buyers jumped in after FOMC minutes revealed the quantitative tightening plan. US benchmark treasury yields also surged to highest level since 2019. Both Canadian and Australian Dollars followed as second and third strongest. Aussie was boosted by RBA’s hints on earlier rate hike while Loonie was supported by
Markets: Gold up $12 to $1944 US 10-year yields up 5 bps to 2.70% WTI crude up $1.78 to $97.80 S&P 500 down 12 points to 4488 CAD leads, NZD lags The US dollar surged in early New York trade then gave it all back. The rally in the dollar had some backing as Treasury
India may find it difficult to grow faster than 8% in FY23 if crude prices persist at the current level for too long, the finance ministry said on Thursday, warning the Russia-Ukraine conflict poses an upside risk to inflation as well. The government is exploring all viable options, including import diversification, to procure crude at
Canadian Dollar rises slightly after solid job data, but Dollar is also firm. The greenback is on track to end as the strongest one for the week, with help from extended rally in treasury yields. On the other hand, Sterling is under some selling pressures but Euro is still the worst performing one. Aussie is
WTI crude looks set to settle below $100 on the week and from the charts, we are seeing a semblance of a double bottom just below the $94 mark: That will be an important level to watch before a potential drop towards $90 next. Recent sentiment hasn’t been too kind for the oil market outlook,
NEW DELHI: Gold prices dropped during early trade on Friday as a stronger US dollar dimmed down the demand for safe-haven metal. A stronger US dollar makes gold less attractive for other currency holders. However, gold is being supported by the Ukraine uncertainty, rapid inflation, and the still persistent COVID-19 pandemic. Gold futures on MCX
Overall, the markets are rather steady so far in the last trading day of the week. Major Asian indexes are treading water. That followed a late rebound in US markets overnight. Euro weakens mildly and remains the worst performer for the week, followed by Yen and Swiss Franc. Dollar is still the strongest one, support
I posted yesterday (and prior) that while Shanghai authorities assure us that port operations are normal they are anything but: transport in and out has been disrupted, impacting the flow of goods. Post is here, a new record high case count: Shanghai reports 20K new coronavirus cases for the day UK media adding: Shipping lines
NEW DELHI: Domestic gold prices were trading flat on Thursday as a strong US dollar following hawkish US Fed minutes dented demand for the yellow metal. Gold futures on MCX were down 0.03 per cent or Rs 15 down at Rs 51,611 per 10 grams. Silver futures were trading higher by 0.04 per cent or
Dollar remains generally firm entering into US session, even though upside momentum is diminishing slightly against European majors.Meanwhile weakness in commodity currencies persists, with Aussie being the worst one. Yen is mixed for now but should remain vulnerable on exceptional strength in global benchmark treasury yields. Technically, focuses firstly stays on commodity-dollar pairs. In particular,
2-year Treasury yields -6.7 bps to 2.435% 5-year Treasury yields -5.4 bps to 2.649% 10-year Treasury yields -2.8 bps to 2.581% 30-year Treasury yields -1.1 bps to 2.621% That might be what is offering some respite to stocks, which are hoping to snap quite a modest two-day decline. European equities holding higher with US futures
New Delhi: Gold prices on Thursday rose by Rs 42 to Rs 51,638 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 42 or 0.08 per cent to Rs 51,638 per 10 grams in