Gold has turned dearer by more than Rs 2,800 per 10 grams led by a six-session rally. The yellow metal hit a fresh 52-week high of Rs 65,525 on Thursday, surpassing a key resistance level of Rs 65,500 within hours of its opening. The recent surge in yellow metal in the domestic and international markets
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Dollar fell sharply overnight and the broad-based decline extended into Asian session today. Some analysts attributed this selloff to Fed Chair Jerome Powell’s commentary during his Congressional testimony. Powell’s mention of needing “a little bit more data” before contemplating rate cuts has ignited a wave of speculation among investors and analysts alike, interpreting this statement
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 your initial investment; do not
Gold prices edged lower on Wednesday but held above the $2,100 an ounce level, after rising bets for a June U.S. interest rate cut propelled bullion to a record peak in the previous session, ahead of Federal Reserve Chair Jerome Powell’s testimony. FUNDAMENTALS * Spot gold edged down 0.2% at $2,124.46 per ounce, as of
Dollar is trading broadly lower as markets enter into US session, with minimal backing from Fed Chair Jerome Powell’s prepared remarks for his Congressional testimony. Instead, the currency’s weakest is accentuated by extended drop in treasury yields and slightly disappointing ADP private job data. Amidst this backdrop, Swiss Franc emerges as the only currency performing
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 your initial investment; do not
Gold prices slipped on Wednesday amid profit booking after hitting their lifetime high in the previous session in the international and domestic markets. In the early trade, MCX gold fell Rs 460/10 grams after scaling a new peak of Rs 65,140 per 10 grams in a back-to-back rally. Taking cues from the international prices, MCX
Dollar faced some selling pressure overnight, as dragged down by the sharp decline in the 10-year treasury yield. Despite this, the impact on the greenback was relatively contained, thanks to significant pullbacks in major stock indices, which provided a cushion against more substantial losses. Today’s spotlight turns to Fed Chair Jerome Powell’s semiannual testimony, an
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 your initial investment; do not
Gold prices surged to their lifetime highs amid a higher probability of the US Federal Reserve starting to cut interest rates from June, while geopolitical concerns supported the gains. On the MCX, the April futures of gold jumped more than ₹800 per 10 grams to cross the ₹65,000 mark on Tuesday. Prices were higher for
Market sentiment was clearly mixed in Asian session today, highlighted by Nikkei’s remarkable resilience and Hong Kong’s stocks’ downturn. The day commenced with Nikkei momentarily succumbing to profit taking pressure, dropping below 40k mark after Tokyo’s CPI was reported to have risen to 2.5%. This initial dip, however, was short-lived as the index swiftly recaptured
ISM services The theme so far in 2024 has been the dominance of economic data. Each release re-calibrates Fed expectations and all the market pricing that’s built around it. A great example was on Friday when a series of soft second-tier data led to a slump in the US dollar and declining Treasury yields. Rates
Gold prices on Tuesday surged Rs 800 to hit a fresh record high of Rs 65,000 per 10 grams in the national capital amid strong global trends, according to HDFC Securities. In the previous close, the precious metal had closed at Rs 64,200 per 10 grams. Silver also rallied Rs 900 to Rs 74,900 per
The picture is pretty much the same through Asian and early part of European session, with the Australian and New Zealand Dollars, alongside the Canadian Dollar, persisting as the day’s underperformers. Swiss Franc has also found itself under pressure, particularly against its European counterparts, aligning with the commodity currencies in their struggle. Conversely, Yen and
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 your initial investment; do not
The Reserve Bank of India has banned the stock exchange listed IIFL Finance from sanctioning and disbursing new gold loans immediately, according to a statement issued by the regulator on Monday. In a strongly worded statement, the RBI has said that IIFL Finance to ‘cease and desist with immediate effect from sanctioning and disbursing gold
Swiss Franc bounced briefly earlier today, following release of slightly stronger than expected Swiss CPI data, only to see those gains quickly dissipate. With inflation levels persistently below SNB target, market consensus continues to lean towards an interest rate cut within the year, with September eyed as the probable month for the first reduction. However,
As China gets set for its pivotal meetings this week, the Wall Street Journal writes about how a manufacturing export boom is “a classic recipe for falling prices.”‘ They warn that Beijing is looking to manufacturing and exports to boost the economy. It’s a sequel to the early 2000s boom that focused on cheap manufacturing.