Gold prices rose Rs 90 to Rs 59,500 per 10 grams in the national capital on Wednesday amid a jump in precious metal prices in global markets, according to HDFC Securities. The yellow metal had finished at Rs 59,410 per 10 grams in the previous trade. Silver also zoomed Rs 800 to Rs 75,300 per
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European indices have pared their earlier gains as US futures also pull back from the highs earlier. At first, it seemed like the awful PMI data in Europe would have no impact on equities but we are starting to see some nerves creep up again now. Here’s a snapshot of things: Eurostoxx -0.1% Germany DAX
Euro faces headwinds this week, emerging as one of the more subdued performers, with all eyes set on today’s Eurozone PMI data. Its trajectory, when compared to Yen and Aussie, remains uncertain, as both showed minimal response to their respective PMI releases. Conversely, Dollar’s movement, in anticipation of the PMI release, is expected to be
Gold price climbed Rs 50 to Rs 59,300 per 10 gram in the national capital on Monday, according to HDFC Securities. The precious metal had ended at Rs 59,250 per 10 gram in the previous trade. However, silver remained flat at Rs 73,500 per kilogram. Gold was trading slightly higher amid a weaker rupee and
The U.S. Commerce Department’s Bureau of Industry and Security (BIS) said Monday that it is removing 27 Chinese entities from its Unverified List The companies were taken off the list after they successfully completed end-use checks that allowed the commerce department’s Bureau of Industry and Security to establish their “legitimacy and reliability”, according to a
Euro is currently the weakest major currency in very quiet markets today, with little of note from the economic calendar. Meanwhile, other European majors are soft too, with Sterling just performing slightly better than Swiss Franc. Meanwhile, the rebound in metal prices is helping Aussie recover, while Kiwi is following. Yen is reversing earlier selloff
Mentha oil futures shot up over 4% to the day’s high of Rs 1,048.90 per kg on the MCX on Tuesday, taking the rally to 18% on a month-to-date (MTD) basis. The commodity is currently trading at a 4-month high level, riding on sentiments around the fall in output and the prices could remain firm,
The flash estimates for the August PMI readings in the euro area will be due tomorrow. And another set of relatively poor data could yet prove to be a drag for the euro in the days/weeks to come. The manufacturing sector is already well in recession and a slowing services sector as well is threatening
Yen’s selloff experienced a mild respite during the Asian session, bolstered by a spike in 10-year JGB yield that touched its apex since 2014. However, given the widening yield disparities with both US and European counterparts, the outlook for Yen remains bearish, at least in the foreseeable future. Interestingly, despite US benchmark yields soaring to
Silver prices fell significantly in recent weeks, dragged down by concerns over Chinese demand, a strong recovery in US yields, and a firmer dollar. In the benchmark London Spot market, prices corrected more than 12% in the last one month while losses were limited to 9% in domestic futures due to a weak Indian rupee.
A snippet projection from UBS on the benchmark S&P500 index. Analysts at the bank’s base case forecast for the index is to 4,500 in December 2023 and then 4,700 in June 2024. Citing: second-quarter reporting season likely marked the trough in year-over-year earnings growth guidance for the third quarter was positive we expect S&P 500
Japanese Yen is feeling the heat once again, buckling under the surge in major European and US benchmark yields. Notably, yield on Japan’s 10-year JGB did jump, closing 0.655 today. However, this level has acted as a formidable ceiling for a while, even in the wake of BoJ’s recent allowance hike to 1% last month.
Gold traded with gains in Monday’s early trade amid weakness in the dollar index (DXY). The MCX October gold futures were trading up Rs 49 or 0.08% at Rs 58,424 per 10 grams on the MCX. Meanwhile, September Silver futures were trading at Rs 70,452 per kg, up Rs 217 or 0.31%. Click to know
There’s not much in terms of headlines driving the move but higher bond yields are certainly playing a part I would say. 10-year Treasury yields are still up 5 bps to 4.301% and that is underpinning yen pairs so far on the session. The near-term chart for USD/JPY is also seeing buyers seize back control
As a fresh week unfolds, global markets seem to tread cautiously, keeping a close watch on the recent undertakings in Asian economies. PBoC’s modest rate cut decision has catalyzed a minor pullback in stocks across China and Hong Kong. In contrast, Japan’s Nikkei shows modest gains, reflecting a divergence in Asian market sentiment. The offshore
Gold prices declined Rs 50 to Rs 59,250 per 10 grams in the national capital on Friday amid a fall in precious metal prices in international markets, according to HDFC Securities. In the previous trade, the yellow metal had closed at Rs 59,300 per 10 grams. However, silver jumped Rs 700 to Rs 73,500 per
Nomura revised its economic growth forecast for China this year to 4.6% from its previous projection at 5.1% Citing weak data for July (out last week) and warning of a an ongoing “downward spiral” in the economy. their growth forecast for 2024 remained unchanged at 3.9% “In coming months, growth will face further pressure as
Comex December gold future slid 1.55% through the week as the contract finished around $1916.50, and spot gold was at $1889 an ounce, at its weakest level in five months, pushed down by strengthening USD and surging UST yields amid growing bets for higher for longer interest rates from US Fed from the traders. The