The CHEM PLUTO The global shipping market is certainly top of mind as we celebrate a holiday weekend. Yemen continues to threaten the Red Sea but now there are worries about a wider threat to shipping. Iran said it could shut down the Gibraltar Strait, which is something that most people doubt. At the same
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Gold prices climbed on Friday to their highest level in nearly three weeks, as rising bets of Federal Reserve interest rate cuts early next year pushed the dollar and bond yields lower ahead of much awaited U.S. inflation data later in the day. FUNDAMENTALS * Spot gold was up 0.1% at $2,047.42 per ounce, as
AI image In a recent push of back-channel diplomacy, Russian President Vlad Putin has been sending a message: He is ready to make a deal for a Ukraine ceasefire. The New York Times made the report yesterday, saying that he’s been signaling through intermediaries since at least Sept that he is open to a cease-fire
Oil prices rose in early trade on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures were up 23 cents, or 0.3%, to $79.62 a barrel by 0121 GMT,
I was expecting something quieter last week but it was busy and volatile all week. Stats agencies tend to rush out December releases so they don’t have to release as much between Christmas and New Years. For Monday, all major western markets are closed but the FX market is open as always. The lone releases
Gold price climbed Rs 300 to Rs 63,350 per 10 grams in the national capital on Friday amid a bullish trade in the overseas markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 63,050 per 10 grams. Silver also jumped Rs 400 to Rs 79,500 per kilogram, while
The price of crude oil futures are settling at $73.56, down -$0.33 or -0.45%. The high price reached $74.95. The low price extended to $73.41. For the trading week, crude is up for the second consecutive week. The price is up $1.81 or 2.53%. Last week the price rose $0.54 or 0.75%. For the trading
Gold prices rose to their highest level in nearly three weeks on Friday as the dollar and bond yields fell ahead of key U.S. inflation data that could offer more clarity on the Federal Reserve’s interest rates path next year. Spot gold was up 0.8% to $2,061.60 per ounce at 1225 GMT and U.S. gold
Major US stock indices are closing the day mixed. The Dow Industrial Average is modestly lower while the S&P and NASDAQ closed higher on the day. For the trading week, all the major indices were higher for the eighth consecutive week gain. A snapshot of the closing level shows: Dow Industrial Average fell -18.54 points
Gold prices finished above $2,000 for the fifth straight week, with Comex Feb futures ending the week at $2066.90, up by 2.4% as the dollar lost the plot to dip sharply to five-month lows of 101.4 level after the release of PCE data on Friday. Gold prices are up 13% ytd heading into the last
The year is working to an end, but before markets slow to a trickle next week, there was one more key economic release today. The headline and core PCE data – the favored inflation quide for the Fed – was released at 8:30 AM ET, and it showed a lower than expected gain of 0.1%
Gold scaled a more than two-week high on Friday, rising for a second week as the dollar and U.S. Treasury yields slipped on rising expectations the Federal Reserve will cut interest rates early next year. Spot gold was up 0.4% at $2,052.69 per ounce as of 3:50 p.m. ET (20:50 GMT), its highest level since
Yen falls broadly today after BoJ’s to maintain monetary policy unchanged. The sell-off can be attributed to the dismay of investors who had hoped for indications of a shift towards stimulus exit next year. BoJ’s steadfastness in its easing bias, without any hint of a policy adjustment, has contributed to Yen’s softening. Although this doesn’t
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
Oil prices rose on Friday as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices. Brent crude futures were up 92 cents, or 1.2%, to $80.31 a barrel at 1445 GMT. U.S. West Texas
Fresh selloff is seen in Dollar in early US session after lower than expected headline and core PCE inflation readings. While another month of progress might still be insufficient to prompt Fed for an early rate cut, at least, things are heading in the right direction. The greenback is set to end as the worst
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 witnessed a minor uptick in the early trade on Friday amid slippage in the dollar index (DXY). The dollar index is currently at a four-month low, aiding the cause of the yellow metal. It is set to close with yet another weekly gain. Experts see more upside in the yellow metal and suggest a