NEW DELHI: Gold prices edged lower on Tuesday, bucking the trend of gains in global markets as early taper worries eased. However, a weaker dollar capped the decline. Gold futures on MCX were down 0.18 per cent, or Rs 84, at Rs 47500 per 10 gram. Silver futures declined 0.23 per cent, or Rs 147,
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Commodity currencies suffered last week but Canadian dollar was the worst performer. Loonie declined -2.93% in the past week, making it the weakest amongst major currency pairs. Other than the broad-based strength in US dollar amidst speculations of early taper by the Fed, the sharp selloff in crude oil price was the ultimate reason driving
Philadelphia-area service sector data Prior was 53.8 Firm-level activity 37.2 vs 44.8 prior New orders 27.4 vs 31.8 prior Wage and benefit cost index 43.0 vs 50.2 prior Full time employment index 8.2 vs 24.8 prior This is a low-tier indicator. Here was the special question, which relates back to inflation expectations — something the
New Delhi: Gold in the national capital on Tuesday jumped Rs 170 to Rs 46,544 per 10 grams despite rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,374 per 10 grams. Silver also gained Rs 172 to Rs 61,584 per kg, from Rs 61,412 per kg
New Zealand Dollar rises broadly today after a top RBNZ official indicated that the decision to refrain from rate hike was mainly due to communication difficulty. Instead, the central bank is actively considering a 50bps hike. Strong rebound in Asian stocks also supported other commodity currencies, but positive sentiment is not much carried through to
NEW DELHI: After a sharp correction, if you are looking to buy gold and silver at the current levels then it may be better to wait as analysts believe precious metals will remain under pressure. Silver prices have seen a sharp plunge from Rs 69,000 a kg to Rs 62,000 in the last one month.
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 of your initial investment; do
Following the FOMC minutes, the attention turns to the Jackson Hole symposium later this week. We expect that the Fed would make formal announcement of QE tapering at the November meeting. With a tapering size of US15B at each meeting, the entire QE program would be complete by September 2022. As the big picture of
NEW DELHI: Coriander prices on Monday fell by Rs 158 to Rs 7,850 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market. On the National Commodity and Derivatives Exchange, coriander contracts for September eased by Rs 158, or 1.97 per cent, to Rs 7,850 per quintal in 7,160
Markit PMIs and existing home sales coming up I’ll be closely watching the Markit US PMIs for both manufacturing and services today when they’re released at 9:45 am ET (1345 GMT). The consensus on the services PMI is 59.4 from 59.9 and is the main spot to watch. I worry that number isn’t low enough
Markets continue to reverse some of last week’s move, as seen in the rebound in European and Asian equities. Dollar, Yen and Swiss Franc all turned weaker while commodity currencies strengthened. PMIs from Eurozone and UK are all solid, despite mild pull back. Yet, both are outshone by commodity currencies. Sterling is currently having a
Jibun / Markit flash manufacturing PMI for August, wilting from July but still in expansion. Services: 43.5 (vs. July’s 47.4) Composite: 45.9 (July 48.8) Commentary from the report, in brief: weaker demand to ongoing COVID-19 restrictions, coupled with sustained supply chain pressures decline in overall private sector activity was led by the larger services sector,
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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 of your initial investment; do
6000 troops in Afghanistan Biden says the US has evacuated about 13,000 from and Afghanistan since August 14 Has worked to get 200 for US journalists out of Afghanistan US working to verify how many US citizens remain in Afghanistan Will bring home every American who wants to leave Afghanistan He cannot promise what final
Gold prices were flat on Friday, as a firmer eclipsed support from rising anxiety over increasing cases of coronavirus’ Delta variant that could delay economic recovery. FUNDAMENTALSSpot gold was flat at $1,780.43 per ounce by 0056 GMT, while US gold futures was little changed at $1,782.40. The dollar index held near a more than a
PBOC left the loan prime rate (LPR) unchanged at 3.85% in July. The inaction does not suggest that the current monetary policy is appropriate. Weakness in economic activities is expected to exacerbate in the second half of the year, thanks to the resurgence of the pandemic and the lingering consequences of the flood. Speculations of