Physical gold demand was mixed in top Asian hubs this week, with overall activity subdued going into Christmas and the new year, although the upcoming holidays prompted some consumers in Singapore to pick up bullion for gifting. While the market has quietened, there’s been quite a bit of a retail buying this week into year-end,
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Sterling’s rally picks up some strong momentum in pre-holiday trading. Meanwhile, overall steady to risk-on sentiment is also lifting Aussie and other commodity currencies. On the other hand, Euro is under tremendous pressure, thanks to selloff against the Pound. Dollar, Yen and Swiss Franc are also soft, with the greenback shrugging off strong PCE inflation
This comes as 5,715 COVID-19 cases were reported today, with almost 70% coming from the Sydney metropolitan area. NSW chief health officer, Dr Kerry Chant, said that about 80% of new infections in the state were the omicron variant. Meanwhile, state premier, Dominic Perrottet, said that the “key indicators” were not case numbers but rather
New Delhi: Gold in the national capital on Thursday gained Rs 140 to Rs 47,268 per 10 gram in line with strong international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,128 per 10 gram. Silver also jumped Rs 290 to Rs 61,099 per kg from
Yen dropped broadly overnight as US stocks rebounded and stays soft in Asian session. Canadian Dollar also pare back some losses as WTI crude oil recovered back above 70 handle. But overall markets are generally mixed in holiday mood. Euro is currently the strongest for the week, followed by Kiwi and Sterling. Yen is the
Gold in the national capital on Wednesday dipped by Rs 145 to Rs 47,093 per 10 gram in-line with weak global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 47,238 per 10 gram. Silver also declined by Rs 397 to Rs 60,498 per
Sterling and Euro are trading broadly higher today, together with Aussie. On the other hand, Yen and Dollar are both under some selling pressure. Rebound in Europe yield is a factor in driving the markets. We’ll see if there is further rally in stocks before holidays that could push Dollar and Yen further lower. Technically,
NEW DELHI: Gold prices traded in the tight range on Wednesday as higher US Treasury yields and improved risk appetite countered concerns about the rapidly spreading Omicron coronavirus variant. Gold futures on MCX added 0.06 per cent or Rs 29 at Rs 48,096 per 10 grams. Silver futures gained 0.16 per cent or Rs 96
China is going against the global tide of normalization of monetary policy. The PBOC announced to cut the one-year loan prime rate (LPR) by -5 bps to 3.8%, first time April 2020. This, together with the reduction in RRR and increase RRR on foreign currencies earlier this month, indicates that the country’s economic recovery is
NEW DELHI: Gold prices held steady, with a negative bias, as traders assessed the impact of surging Omicron coronavirus cases and interest rate hikes aimed at taming high inflation. Gold futures on MCX declined 0.14 per cent or Rs 68 to Rs 48,172 per 10 grams. Silver futures eased 0.19 per cent or Rs 115
Risk sentiment continues to flip-flop in pre-holiday markets. Major European indexes and US futures are trading slightly higher. Swiss Franc, Yen and Dollar are all trading generally lower, while Kiwi and Aussie are trading higher with Sterling. Canadian Dollar appears to be getting little support from better than expected retail sales data. Technically, gold appears
New Delhi: Gold in the national capital on Thursday jumped Rs 883 to Rs 48,218 per 10 gram in line with the firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 47,335 per 10 grams. Silver also rallied Rs 1,890 to Rs 65,190
A holiday shortened week starts will risk-off sentiment. Selloff in notable in Japan with Nikkei back below 28k handle, while HK HSI also hits the lowest level this year. In the currency markets, Yen is currently the strongest one for today, followed by Euro and Swiss Franc. On the other hand, Aussie is the weakest,
Mumbai: The Securities and Exchange Board of India (Sebi) has suspended futures and options trading in agricultural commodities such as wheat, moong dal, and soya bean until next December in a bid to rein in prices. The suspension, which came into effect on Monday, allows squaring up of existing positions in seven agri and food
Commodity currencies are under broad-based pressure today, as markets are trading in risk-off mode on the spread of Omicron. Canadian Dollar is leading the way lower as WTI oil tumbles below 70. But Euro and Swiss Franc are currently the main beneficiaries, followed by Yen. Dollar and Sterling are mixed. Technically, EUR/CAD’s break of 1.4580
The Securities and Exchange Board of India (Sebi) on Monday banned futures and options trading in several agricultural commodities including wheat, paddy(non-basmati), soya bean, moong and crude palm oil for a period of one year. Earlier, in the month of August and October it had barred derivatives contract in chana and mustard seeds respectively. “In
The BOE surprised the market in two consecutive months. After failing to deliver rate hike in November, the members surprisingly increased the Bank rate by +15 bps to 0.25% in December. Concerns over elevated trumped Omicron variant uncertainty. British pound rallied against US dollar and the euro. The members voted 8-1 to increase the Bank
NEW DELHI: Gold prices jumped on Thursday as the US dollar eased, while investors shifted their focus away from the US Federal Reserve to other key central bank meetings. The Fed said that it would end its pandemic-era bond purchases in March and paved the way for three quarter-percentage-point interest rate hikes by the end