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Gold prices extended their slide on Wednesday to hit their lowest in 3-1/2 months on bets for interest rates remaining higher for longer, while traders positioned for a speech by Federal Reserve Chair Jerome Powell. Spot gold fell 0.4% to $1,905.75 per ounce by 9:23 a.m. EDT (1323 GMT), hitting its lowest since mid-March. U.S.

Forex markets today are leaning towards mild risk-off sentiment, with traders cautiously awaiting comments from leading central bankers at the ECB forum. This cautious sentiment, interestingly, does not seem to be having a substantial effect on the stock or bond markets yet. British Pound is experiencing fresh selling, despite expectations of hawkish messages from the

Prior +7.6% HICP +6.7% vs +6.8% y/y expected Prior +8.0% It would seem Italian inflation is easing further as we head towards the end of Q2 and that is encouraging for the ECB and the economy ahead of the other data this week. While it is still well above the 2% threshold, the fact that

Bullion traded in the green on the MCX in Wednesday’s early trade aided by an almost flat Dollar Index (DXY). The DXY was hovering around 102.50, though the bias was positive. Meanwhile, gold and silver took the opposite trajectory on Comex. While the yellow metal traded on a positive note, silver futures declined. Both gold

Australian Dollar is experiencing a wild ride this week, tumbling in Asian trading hours due to lower-than-anticipated CPI results. The “encouraging” data has raised speculation about a potential pause in RBA’s tightening plans next week. There are also talks that the hike month was the last in the cycle. This decline is also dragging down

Markets: Gold down $9 to $1913 US 10-year yields up 4.7 bps to 3.77% WTI crude oil down $1.57 to $67.79 S&P 500 up 44 points, or 1.0%, to 4415 Nasdaq up 1.6% EUR leads, JPY lags US economic data continued to impress, burying inflation fears. The market was in the mood to listen to

Gold prices were flat on Tuesday, hovering slightly above their three-month lows, while the U.S. dollar strengthened as traders looked to hedge against a political turmoil in Russia and the Federal Reserve’s hawkish outlook. FUNDAMENTALS * Spot gold held its ground at $1,923.94 per ounce by 0114 GMT, while U.S. gold futures were also listless

In today’s trading, Euro takes the limelight, soaring broadly and reaching new heights against the frail Yen. While comments from ECB officials continued to be hawkish, there was basically nothing substantially new. The rationale propelling the shared currency is yet unclear. Following closely behind, Aussie and Kiwi mark themselves as the second and third strongest,

The risk mood is calmer on the day but investors are still understandably cautious after the selling from last week. Stocks in Europe have pared gains somewhat after the opening hour and that is not leaving FX traders with much to work with. EUR/USD is up 0.3% to 1.0940 as the euro stays buoyed after

Bullion traded in the green in Tuesday’s early trade aided by a weaker dollar. The dollar index was down nearly 0.10%. witnessing its second successive decline, thereby raising the appeal for the yellow metal. The August Gold futures were trading at Rs 58,521 per 10 grams at 10:10 am, up Rs 105 or 0.19% from

In an otherwise lackluster Asian trading session, Chinese actions add a zing today. The rebound in Yuan, propelled by China’s stepped-up measures to curb its slide, provided a boost to stock markets in both China and Hong Kong. The ripple effects are also being felt by Aussie and Kiwi, which are witnessing a bounce. Canadian

It was a relatively quiet day in the forex to start the trading week. Looking at some of the trading ranges for the major currency pairs: EURUSD range was only 33 pips vs an average of 72 pips over the last month GBPUUSD range was 61 pips vs an average of 96 pips USDCHF range

Gold prices climbed Rs 170 to Rs 59,350 per 10 grams in the national capital on Monday amid strong cues in international markets, according to HDFC Securities. The precious metal had closed at Rs 59,180 per 10 grams in the previous trade. Silver also jumped Rs 350 to Rs 71,300 per kilogramme. “Gold trading on

Today sees Swiss Franc making notable gains due to an array of risk-averse factors at play. Disheartening data on German business sentiment fuels concerns about a protracted recession in the country and by extension, the broader Eurozone. While the weekend’s events surrounding Wagner mutiny may not have triggered a seismic response in the markets, the

During the previous week, the SNB raised interest rates by 25bps and indicated that further tightening is anticipated in the future, potentially with another 25bps increase in September. The SNB emphasized that inflation remains a concern, and there are expectations that it could run hot again in the coming winter. In a surprising move, the

Gold traded in the green in Monday’s opening trade aided by a weaker Dollar Index (DXY). The DXY was down nearly 0.2%, raising the appeal for the yellow metal. However, a mixed commentary on further interest rate hikes by the Federal Reserve has made the prices range bound. The August Gold futures were trading at

The financial markets are rather steady in Asian session today, showing little reaction to the brief “uprising” in Russia. Major indexes generally traded in tight range, with the exception of China which is just catching up the holidays on Thursday and Friday. In the currency markets, Aussie is the worst performer for now, followed by

The Bank of Japan Summary of Opinions is for the June 15 & 16 meeting: The “Summary of Opinions” provides a concise summary of the views expressed by Policy Board members during the meeting. The full Minutes of this meeting will follow on 2 August 2023. This snapshot from the ForexLive economic data calendar, access