Gold prices have witnessed negative returns in India till now in 2021, losing 5% when compared with the broad rallies of 2019 and 2020, which saw 13% and 26% returns, respectively. Gold prices started the year on a negative note as the reopening of global economic activities and large-scale vaccination improved investment sentiment in riskier
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Yen extended rebound in European session following the sharp fall in benchmark Germany yield. But struggling to extend gain as markets enter into US session. Overall markets are mixed as investors are probably turning cautious ahead tomorrow’s FOMC policy decision. As for today, Aussie remains the worst performing one after post RBA selloff, followed by
Not much to digest today but plenty to think about The US dollar is modestly stronger while commodity currencies are struggling after the RBA. Sovereign yields are lower as the front end reels in some of the rate hike expectations, which are looking overdone. In terms of news, the economic calendar is basically bare. Some
New Delhi: Gold in the national capital on Tuesday gained Rs 53 to Rs 46,844 per 10 grams reflecting overnight rebound in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 46,791 per 10 grams. Silver also moved higher by Rs 45 to Rs 63,333
Australia Dollar tumbles broadly today as markets are dissatisfied with RBA’s dovish stance, even though yield curve control is abandoned. Commodity currencies are also trading generally lower. On the other hand, Yen is staging a strong rebound after Japanese Finance Minister Shunichi Suzuki said he’s keeping an eye on the weakening exchange rate. The move is
Data published Monday by Australia’s Roy Morgan from their survey for October 2021. expected inflation 4.8% annually over the next two years This is up 0.3% points, and the highest Inflation Expectations for seven years) since November 2014) 1.3% points higher than a year ago in October 2020 up 5 months in a row Roy
New Delhi: With Diwali round the corner, buying gold on this auspicious occasion is discussed in several Indian households. However, the precious metal has been missing its charm recently. It has remained in a tight range, though it outperformed other asset classes in the pandemic-hit 2020. Domestic gold imports witnessed a sharp jump but strong
The November FOMC meeting would see the Fed making a formal announcement on QE tapering. We expect the plan would begin immediately and is expected to end by mid-2022. The Fed funds rate will stay unchanged at 0-0.25%. The market has priced in over 60% of a rate hike in June 2022. This appears unlikely
Manufacturing falls in the final revision Prelim was 59.2 60.7 prior Chris Williamson, Chief Business Economist at IHS Markit said: “October saw US manufacturers report yet another near-record lengthening of supply chains, with shortages of components constraining production growth to the lowest since July of last year. Around half of all companies reporting lower production
New Delhi: Gold prices declined marginally by Rs 10 to Rs 46,673 per 10 gram in the national capital on Monday amid muted global trends, according to HDFC Securities. The precious metal had settled at Rs 46,683 per 10 gram in the previous trade. Silver also declined by Rs 230 to Rs 63,014 per kg
Japan’s Nikkei index surges sharply by over 2% in Asian session, in very positive response to the easy win of the Liberal Democratic Party in Sunday’s election. Prime Minister Fumio Kishida’s LDP retained comfortable majority in the House of Representatives, ensuring continuity of the economic policies. While other Asian markets are mixed, Yen is trading
An energy analyst at KPMG says OPEC+ is most likely to stick with the earlier agreed top plan of a 400,000 barrel per day increase. But the group may ponder increasing the amount “marginally, or more substantially,” by 600,000 barrels to 1 million barrels per day Countering the argument OPEC+ may consider boosting output above 400k
(This story originally appeared in on Oct 29, 2021) CHENNAI: Demand for gold may have dropped 7% globally during the July-September quarter, but there was no dent in purchases of the yellow metal in India, rising 47% to over 139 tonnes by volume. The growth was driven by falling Covid infection rates, which pushed people
Euro ended as the worst performing one after the post ECB rally faded quickly. It’s clear that ECB would lag behind other major central banks in stopping to add stimulus, not to mention raising interest rate. The selloff in Euro also dragged down Sterling, as both were sold off against Swiss Franc. Australian Dollar ended
It is the first week of the new month which means purchasing managers data along with the US and Canada jobs report are on tap The month of October has come and gone, and with it the major economic releases for the new month restart their cycle. Traditionally, PMI data kicks off the key releases
NEW DELHI: Gold prices declined in the domestic markets, bucking the global trend. At the international level, the yellow metal was set to mark its straight third weekly gains. Ease in US bond yields and a tepid dollar aided bullion’s safe-haven appeal. A weaker greenback makes gold more attractive to buyers holding other currencies. Meanwhile,
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November forex seasonals November is an interesting month for seasonals because there are a few strong trends and some that often interrupted. Cable is an interesting example. One the face of it, the 0.42% average decline over the past 20 years is unremarkable but when you strip out the past two US Presidential elections (2020