Gold prices declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand. The February gold futures were trading at Rs
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Trading activity is rather subdued in the last Asian session of the year. With no major economic events on the calendar for the day, trading is expected to remain quiet. Dollar is making an attempt to recover but continues to be the weakest performer for the week. It is followed by Euro and Sterling in
WTI crude oil hourly WTI crude oil is at the lows of the day, down $1.62 to $72.49. The Boxing Day rally has now been completely wiped out and crude is lower on the week. The drop in oil comes despite a bullish weekly oil inventory report that showed: Crude -7114K vs -2704K exp Gasoline
Gold prices surged Rs 450 to Rs 64,300 per 10 grams in the national capital on Thursday amid strong global cues, according to HDFC Securities. This is at least the second time the precious metal prices have touched a record high of Rs 64,300 per 10 grams on December 4. In the previous trade, the
Japanese Yen and Swiss Franc are standing out with significant rallies in otherwise relatively subdued markets today. Yen resumed its near-term rise against the Dollar, reaching its highest level in five months. Simultaneously, Swiss Franc has achieved its highest level in over a decade, excluding the spike seen in 2015. While Dollar remains the weakest
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 on Thursday to the highest in more than three weeks as the US dollar and bond yields hit multi-month lows on mounting bets the Federal Reserve will start cutting interest rates as soon as next March. February gold futures were trading at Rs 63,795 per 10 grams on the MCX at 10.20
Japanese Yen soars broadly in Asian session today, likely in delayed reactions to comment made by BoJ Governor Kazuo Ueda. Speaking to NHK, Governor Ueda indicated that the chance of moving the short-term interest rate out of negative territory in 2024 was “not zero.” This remark marks a notable shift in tone from the central
Gold is on track for an all-time closing high today. It’s up $11 to $2077. That would surpass the all-time closing high of $2071 set on December 1. Also notable is that on December 4, gold briefly went super-nova in a sharp rally up to $2135 at the open in Asia before being hit by
Gold touched its highest in more than three weeks on Wednesday, as traders bought zero-yield bullion in anticipation of U.S. interest rate cuts next year, while a dip in the dollar and bond yields also supported prices. Spot gold was up 0.4% at $2,074.49 per ounce by 10:24 a.m. ET (1524 GMT), hitting its highest
In today’s subdued trading environment, Sterling Euro have emerged as the strongest currencies, outperforming Australian Dollar and New Zealand Dollar. The ascendancy of these European currencies does not appear to be driven by any specific fundamental factors. Instead, it seems to be part of a rotational trend where different currencies take turns rallying against Dollar
When Haruhiko Kuroda resigned from his post as Bank of Japan governor in April this year, he laid the groundwork for his successor, Kazuo Ueda, to try and make a change on the policy front. His departing words were that “Japan has made steady progress towards achieving its 2% inflation target”. While those words are
Gold futures traded flat on Wednesday amid weakness in the US dollar and lower Treasury yields on expectations that the Federal Reserve will lower interest rates next year. The February gold futures were trading at Rs 63,042 per 10 grams on the MCX at 10.11 am and were up by Rs 17 or 0.03% from
Yen falls broadly in Asian session today, influenced by the dovish sentiments expressed BoJ’s Summary of Opinions of December meeting. The document indicated a lack of urgency among board members to tighten monetary policy, with a particular emphasis on the minimal risk associated with delaying the exit from negative interest rates. Conversely, the board expressed
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 consolidated gains on Tuesday, extending its climb for a third session on a weaker dollar and Treasury yields, in holiday-thinned trading in the last week of the year with traders eyeing an early 2024 start to U.S. rate cuts. Spot gold rose 0.3% to $2,058.85 per ounce by 10:10 a.m. ET (1510 GMT), near
Year after year, it bears repeating that January is seasonally the best month for gold. It is just one of those things in markets and more often than not, that trend delivers as it should. But will it do so again this time around? I touched on that two weeks ago here in relation to
Gold prices gained on Tuesday as the US dollar and bond yields weakened on growing prospects for interest rate cuts by the Federal Reserve as early as March next year. The February gold futures were trading at Rs 63,164 per 10 grams on the MCX at 10.15 am and were up by Rs 210 or