Gold and silver markets are riding a wave of volatility, and to make sense of it all, Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Share & Stock Brokers, breaks down the trends shaping bullion and currencies, while offering a glimpse into what lies ahead. 2024: A strong year for bullion Gold and
Month: January 2025
USD/CAD climbs above 1.4400 as the US Dollar refreshes two-year high. The Fed is expected to follow a moderate rate-cut cycle this year. Investors await the US ISM Manufacturing PMI data for December. The USD/CAD pair rises to near 1.4420 in Thursday’s European session. The Loonie pair gains as the US Dollar (USD) dominates its
As global markets return from the New Year holiday, trading remains subdued with light activity expected until next week when full operations resume. Today’s focus will be on Eurozone and UK PMI manufacturing finals alongside US jobless claims, while tomorrow’s US ISM Manufacturing Index could provide an early glimpse of potential volatility ahead. However, the
Prior 43.0 No change to the initial estimate with the reading being a 3-month low. The same goes for the output index, which closes the year at 41.7 and down from 43.1 in November. This just stresses on the narrative that the German manufacturing sector is still in recession territory with little optimism in sight.
Gold February futures contracts at MCX opened flat on Thursday at Rs 77,017/10 gram, which is up by 0.16% or Rs 124 while silver March futures contracts opened higher by 0.85% or Rs 742 at Rs 88,320/kg. Gold prices increased approximately by Rs 500/10 grams in this week so far while silver prices surged by
AUD/USD flat lines near 0.6185 in Thursday’s early Asian session. A slower pace of the Fed rate cut might lift the USD against the Aussie. A falling Chinese Yuan has led the Aussie to multi-year lows. The AUD/USD pair trades on a flat note around 0.6185 during the early Asian session on Thursday. However, the
A horrific act of violence has shaken the heart of New Orleans, leaving a trail of unimaginable grief and sorrow. A man deliberately drove his car into a crowd, transforming a scene of normalcy into one of chaos and terror. At least 10 lives were tragically cut short, leaving families shattered and a community in
Gold February futures contracts at MCX opened flat on Tuesday at Rs 76,303/10 gram, which is up by 0.06% or Rs 43 while silver March futures contracts were trading at Rs 87,361/kg, down by 0.19% or Rs 170. Gold prices have tumbled by Rs 800/10 grams in the month of December so far while silver
GBP/USD is positioned above the descending channel, suggesting a weakening bearish bias. The descending channel’s upper boundary acts as primary support near the 1.2540 level. The immediate resistance appears at its nine-day EMA at 1.2565 level. GBP/USD retraces its recent losses, trading around 1.2550 during the European hours on Tuesday. The daily chart analysis suggests
Happy New Year Welcome to 2025! The clock has turned on the foreign exchange market and we’re onto the new charts. Here are the final closing levels for 2024 for the major pairs Euro: 1.0354 Japanese Yen: 157.21 British Pound: 1.2524 Swiss Franc: 0.9072 Canadian Dollar: 1.4380 Australian Dollar: 0.6188 New Zealand Dollar: 0.5582 US
Gold prices edged higher on Wednesday, the first trading day of 2025, following a strong performance in 2024, which marked the metal’s best annual growth in over a decade. As of 10:05 am, February gold futures were trading at Rs 76,814 per 10 grams on the MCX, up by Rs 66 or 0.09% from the
EUR/USD may depreciate further as the short-term price momentum is weaker. The initial support appears at its two-year low of 1.0332, recorded on November 22. The nine-day EMA acts as immediate resistance at the 1.0417 level. EUR/USD recovers its recent losses from the previous session, trading around 1.0410 during the European hours on Tuesday. A