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Gold prices fell Rs 100 to Rs 60,150 per 10 grams in the national capital on Friday amid weak trends in global markets, according to HDFC Securities. The precious metal had settled at Rs 60,250 per 10 grams in the previous trade. Silver also plunged Rs 400 to Rs 77,100 per kg. Gold prices retreated

Markets: Gold flat at $1940 US 10-year yields up 8.8 bps to 4.18% WTI crude oil up $2.25 to $85.88 S&P 500 up 0.1% USD leads, CAD lags The initial market reaction to the non-farm payrolls report was about what you would expect — USD selling, bonds bid — but then it got complicated. The

Forex markets are showing unremarkable activity in today’s Asian session, with major currency pairs and crosses largely contained within yesterday’s trading range. The mood this week has been one of indecision, with sporadic movements failing to evolve into sustained trends. Despite China’s intervention to bolster Yuan, the impact was fleeting. Similarly, stronger-than-expected manufacturing data seemed

Oil prices jumped by more than 1% on Friday and were on track to snap a two-week losing streak, bouyed by expectations of tightening supplies. Saudi Arabia is widely expected to extend a voluntary 1 million barrel per day (bpd) oil production cut into October, prolonging supply curbs engineered by the Organization of the Petroleum

US construction spending US construction spending for July % versus 0.5% expected total construction spending $1,972.6 billion versus $1,938.4 billion last month Construction spending year on year +5.5% vs +3.5% prior private construction +1.0% vs +0.5% prior residential construction +1.4% vs +0.9% prior Residential construction is down 5.5% y/y but that should rebound in the

Investors react favorably to the much-anticipated US Non-Farm Payroll data, sending stock futures soaring while Treasury yields and Dollar weaken. The latest numbers point to a more relaxed labor market, yet with decent job growth, which is what Fed would love to see. Additionally, the slowdown in wage growth suggests some relief for domestic inflation

Gold prices firmed on Thursday as a fresh set of soft U.S. economic data added to expectations that the Federal Reserve will pause rake hikes this year, although a surge in Treasury yields and dollar kept bullion on track for a monthly loss. FUNDAMENTALS * Spot gold was up 0.2% at $1,946.17 per ounce by

Caixin/S&P Global August 2023 Manufacturing PMI expected 49.3, prior 49.2 A good beat and encouraging news from China. Yesterday … The official PMIs from China: — China has two primary Purchasing Managers’ Index (PMI) surveys – the official PMI released by the National Bureau of Statistics (NBS) and the Caixin China PMI published by the

Markets took a breather in today’s Asian trading session after Dollar experienced a significant selloff overnight. For now, the greenback seems to have found some footing, as market participants shift their focus to the release of high-impact data—Eurozone’s CPI flash and US PCE inflation—slated for later today. Eurozone inflation report is particularly critical as it

Gold prices were trading flat on Thursday in the early trade amid a steady dollar index. The yellow metal has been moving with strength riding on slippages in the DXY which has gone below the 104 mark. The MCX October gold futures were trading up by Rs 12 or 0.02% from the Wednesday closing price

Reuters’ influential ‘secondary sources’ oil survey is out and highlights rising Iranian production. The country isn’t subject to OPEC quotas because of sanctions declines. The Biden administration — which blocked the Keystone XL pipeline — has instead turned a blind eye to Iranian sanctions and has recently loosened them on Venezuela as well. Those moves

Euro falls broadly today together with other European majors. Some might point to the expected slowdown in Eurozone core inflation in August as a factor. But indeed headline inflation was steady from the prior month, above expectations. Comments from ECB officials were also hawkish. Traders are probably just squaring positions ahead of tomorrow’s US non-farm

Barclays on Wednesday raised its Brent price forecast for 2024 by $8 per barrel to $97 a barrel as it expects market balances to tighten further next year. “Slowing non-OPEC+ supply growth, driven primarily by the US, and persistent underproduction from several OPEC+ producers due to structural constraints bolsters our core thesis behind a constructive

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Dollar is facing accelerated selloff following the release of disappointing ADP private employment data, which showed deceleration in both job and pay growth. Although the employment numbers were by no means dismal, the cooling job market is being perceived as a positive development by Fed and market participants. This perception stems from the notion that

Gold was perched atop a three-week high on Wednesday as traders positioned for more U.S. economic readings that could further alter the odds of another interest rate hike by the Federal Reserve. Spot gold rose 0.1% to $1,939.23 per ounce by 1152 GMT, its highest level since Aug. 7. U.S. gold futures also rose 0.1%

The FX market appears to be teeing up a repeat of yesterday’s price action as soft economic data led to US dollar selling and a bid in bonds. This time it doesn’t appear to be accompanied by bids in equities, but it’s early. The dollar is at the lows of the day right across the

Dollar’s attempted rally quickly reversed overnight, following disappointing consumer confidence data. Interestingly, equities gained on what some market participants are calling a “bad news is good news” factor. The logic here is that Fed is now less likely to raise interest rates again this year, thereby giving stocks a lift, as Treasury yields also took