Gold prices on Thursday jumped by Rs 400 to breach a record Rs 78,000 per 10 gram level in the national capital on sustained buying by jewellers as well as strong trends in global markets. Maintaining its record-breaking run for the second day, gold spurted by Rs 400 to a fresh lifetime high of Rs
Gold held its ground on Friday after hitting a record high in the previous session on mounting expectations of another big U.S. interest rate cut this year, while market participants awaited a key inflation report for further direction. FUNDAMENTALS * Spot gold was steady at $2,670.50 per ounce, as of 0028 GMT. Bullion hit a
Gold October futures contracts at MCX opened flat today at Rs 75,376 per 10 gram, which is down by 0.01% or Rs 11 while silver December futures contracts were trading at Rs 92,322/kg, down by 0.37% or Rs 342. In the last one week, gold prices have surged by Rs 1,900 per 10 gram while
Asian markets are maintaining a risk-on tone today, despite the lackluster US market performance overnight. Sentiment remains buoyed by China’s recent monetary stimulus measures, even as doubts linger about their overall effectiveness due to the absence of significant fiscal support. Nevertheless, stocks in Hong Kong and China continue to trade higher. In Japan, Nikkei is
Swiss Franc remained relatively stable today following SNB’s decision to cut its policy rate by 25bps, bringing it down to 1.00%. This move defied some market speculations that anticipated a larger 50bps reduction. Despite opting for a smaller cut, SNB issued a decidedly dovish statement, sharply downgrading its inflation forecasts. The central bank signaled a
Risk-on sentiment continues to dominate global financial markets today, driven by widespread monetary easing and a significant boost from China’s latest stimulus measures. US equities finished strong overnight, with all major indexes posting gains. S&P 500 hit a fresh record for the third consecutive time this week. Meanwhile, Germany’s DAX also surged to an all-time
A view of the headquarters of the Swiss National Bank (SNB), before a press conference in Zurich, Switzerland, March 21, 2024. Denis Balibouse | Reuters The Swiss National Bank on Thursday took a third step to loosen monetary policy this year, bringing its key interest rate down by 25 basis points to 1.0%. The trim,
The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Sean Gallup | Getty Images News | Getty Images Shares of H&M tumbled 7% on Thursday after the world’s second-largest listed fashion retailer posted a miss on operating profit and abandoned its earnings margin target.
Costco on Thursday reported ho-hum quarterly results, with a small topline miss being more than offset by strong profitability to deliver an earnings beat. The report didn’t blow us away, but it still offered plenty of reminders on why Costco investors should stick around. Total revenue in its fiscal 2024 fourth quarter totaled $79.7 billion,
Silver prices (XAG/USD) fell on Friday, according to FXStreet data. Silver trades at $31.74 per troy ounce, down 0.87% from the $32.02 it cost on Thursday. Silver prices have increased by 33.37% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 31.74 1 Gram 1.02 The Gold/Silver ratio, which
Room for the Pound Sterling (GBP) to edge higher, but any advance is unlikely to break above 1.3455. In the longer run, GBP must break and hold above 1.3455 to resume strength, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. GBP must hold above 1.3455 to resume strength 24-HOUR VIEW: “Our
The Australian Dollar (AUD) could edge higher, but it is unlikely to be able to break above 0.6930. In the longer run, AUD has to break and remain above 0.6930 before an advance to 0.6980 can be expected, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note. AUD has to remain above
The NZDUSD has been tracking the 100-hour MA higher There have been some brief moves below the 100 hour MA over the last few weeks, with a few times when the price dipped below the MA but quickly rebounded higher. Today, there has been another dip below the 100 hour MA. Seller are “making a
Markets: Gold up $3 to $2659 US 10-year yields up 4.9 bps to 3.78% WTI crude oil down $1.85 to $69.71 S&P 500 down 0.2% USD leads, NZD lags There was a dramatic intraday turn in the US dollar. The euro rose to the highest since July at 1.1213 but then sank 90 pips in
Gold prices were steady near record highs on Wednesday, as a weaker dollar and an escalated conflict in the Middle East lifted bullion’s safe-haven appeal, while investors braced themselves for new signals on the U.S. interest rate trajectory. FUNDAMENTALS * Spot gold held its ground at $2,658.07 per ounce, as of 0016 GMT. Bullion hit
Euro is gaining broadly today, even though there is no major fundamental news driving its ascent. Market expectations are mounting that ECB may cut interest rates as early as October, with HSBC projecting 25bps cuts at every meeting from October through April 2025. This would bring the deposit rate to 2.25%, which is considered close
Mexican Peso declines as USD/MXN climbs over 1.80%, driven by expectations of further Banxico rate cuts. Cooling inflation in early September bolsters the case for a Banxico rate reduction at the September 26 meeting. Bloomberg survey: 20 of 25 analysts expect Banxico to cut 25 bps to 10.50%, with some predicting a 50 bps reduction.
Fundamental Overview Yesterday, the US Consumer Confidence report surprised to the downside with one of the largest drops since 2021. The labour market data in the report softened a lot and it generally leads the unemployment rate. The market responded by raising the probabilities for the Fed to cut by 50 bps in November to
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