After hitting a nearly one-week high on Monday, gold prices marginally declined on Tuesday amid a stronger dollar and elevated Treasury yields, as investors awaited the minutes of the last US Federal Reserve policy meeting for more clues on its interest rate cut timing. The April gold futures were trading at Rs 61,954 per 10
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The financial markets are rather calm in Asian session today, while major currency pairs and crosses largely engage in a phase of consolidation. This tranquility comes in the wake of China’s surprising decision to significantly lower its mortgage reference interest rate, a move designed to provide a much-needed boost to the struggling property sector and,
It is a holiday in the US in observance of Presidents Day. As a result, the US stocks, bond and commodity exchanges were all closed for the day. The forex market did trade with limited liquidity and up and down price action. For the USD, the biggest mover was the NZDUSD which rose about 0.44%
Oil prices edged down on Monday morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States. Brent crude futures were down 58 cents, or 0.69%, at $82.89 a barrel. U.S.
Activity in the global financial markets are rather muted today, with major European stock indexes reading water within a narrow range. US futures are also showing little change, reflecting the quietness of US market holiday. In the currency sphere, movements are similarly subdued, with Euro and Swiss Franc ranking as the day’s weaker currencies followed
In trading last week, we got a slew of major US economic data releases. This week will be much lighter in comparison but let’s take a look at what are the items that could impact trading sentiment in the days ahead. RBA February monetary policy meeting minutes (20/2) China LPR decision (20/2) Canada January CPI
A softer dollar index (DXY) lifted the appeal of gold which was trading with a positive bias in the early trade on Monday. Bullion fell to a two-month low last week after higher-than-expected consumer price data dented hopes of an early rate cut by the US Federal Reserve. Bullion traded mix in the opening trade
New Zealand Dollar bounces broadly in quiet Asian session, partly underpinned by notable improvement economic data which showed that the services sector has swung back into expansion at the start of 2024. Additionally, economists are increasingly expecting that more work is needed by RBNZ to cool the economic to bring down inflation. BNZ Bank said
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Gold prices have fallen by 3 per cent to Rs 61,400 per 10 gm within a fortnight from Rs 63,400 per 10 gm on February 1. This has turned the consumer sentiment positive and jewellers are witnessing good footfalls with demand rising by 20 – 25 per cent over last month. The biggest fall has
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Gold ticked up on Friday but was on course for a second straight weekly fall after hot inflation data cooled prospects of early rate cuts by the Federal Reserve. Spot gold was up 0.2% to $2,007.69 per ounce at 11:00 a.m. ET (1600 GMT), but has lost 1.8% for the week so far. U.S. gold
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Spot gold closed with a gain of 0.46% at $2,013 on Friday, however, despite this the metal closed nearly 0.50% lower on the week, which is its second straight weekly loss. The ten-year US yields at 4.28% were up around 2.50% on the week, whereas the US Dollar Index was up around 0.15% on the
This past week showcased a rollercoaster of economic revelations and market responses. Despite a mix of apprehensions, especially surrounding inflation and monetary policies, the prevailing mood remained decidedly risk-on. That culminated in DOW and S&P 500 reaching unprecedented highs, even though both concluded the week on a relatively subdued note. Inflation data stood at the
Markets: Gold up $9 to $2013 US 10-year yields up 4.3 bps to 4.28% WTI crude oil up $1.20 to $79.23 S&P 500 down 0.5% NZD leads, JPY lags The hot PPI reading initially looked like it would kick off something like CPI did earlier in the week, albeit at a smaller scale. The dollar
MCX Gold and Silver trading, understanding price patterns is crucial for informed decision-making. Three prominent patterns — heads & shoulders, double tops and double bottoms — offer valuable insights into potential price movements, aiding traders in navigating the dynamic precious metals market. Head & ShouldersThe head & shoulders pattern typically signals a trend reversal from
The major US stock indices are closing lower on the day and for the trading week. The declines for the weeks snap a 5-week winning streak. The declines on the day come after two days of higher closes. The NASDAQ and the Russell 2000 were the biggest losers as rates moved higher, and some of