Investors wanting to buy gold have plenty of options to choose from. They can invest in gold through Sovereign Gold Bond Schemes (SGB) or buy Gold exchange-traded funds (ETFs). They also have the option to purchase gold futures on exchanges like the MCX or possess the yellow metal in physical form. Here’s a breakdown of
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Sterling is surprisingly soft this week even though markets are raising bets on a more aggressive than expected BoE rate hike, after yesterday’s UK CPI data. It’s clearly weighed down in selloff against the stronger Euro. Swiss Franc is comparatively steady as SNB rate decision is also awaited. Overall, currency markets appear more attuned to
It’s a light calendar ahead. The data that is to be published is unlikely to give more than a transitory wobble to FX rates. Mainland China and Hong Kong are on holiday today for Dragon Boat Festiva (Tuen Ng Festival). Theabsence of these major Asia timezone markets will sap interest and some liquidity during the
Gold prices declined by Rs 360 to Rs 59,750 per 10 grams in the national capital on Wednesday amid weak cues from overseas markets, according to HDFC Securities. The precious metal had ended at Rs 60,110 per 10 grams in the previous trade. Silver also tumbled Rs 1,200 to Rs 72,300 per kilogramme. “Gold extended
Despite Fed Chair Jerome Powell’s firm indications that further monetary tightening is needed, Dollar is struggling find momentum for its near-term rebound. The greenback is yet to break through its weekly high even against the weaker Yen and is primarily bounded within the confines of yesterday’s range, barring its performance against Australian dollar. Meanwhile, Canadian
Eurostoxx -0.2% Germany DAX -0.2% France CAC 40 -0.3% UK FTSE -0.5% Spain IBEX -0.2% This continues from the drop yesterday with US futures also now tilting lower. S&P 500 futures are down 0.2% as equities are struggling for traction so far this week. For today, it comes against the backdrop of higher yields for
Gold traded in a narrow range on Wednesday as traders refrained from making big bets ahead of Federal Reserve Chairman Jerome Powell’s congressional testimony, which could offer further insight into the central bank’s interest-rate hike plan. FUNDAMENTALS * Spot gold was almost unchanged at $1,936.99 per ounce by 0028 GMT. U.S. gold futures too were
Sterling is given a boost in the wake of latest CPI data, which indicated a steady headline inflation rate and a further acceleration in core inflation. This data is likely to solidify BoE’s case for a rate hike in tomorrow’s meeting. However, how long this tightening phase will continue remains uncertain. Notably, the Pound’s buying
WTI crude oil futures settled at $71.19, down $0.74, down -1.02% The move to the downside was helped by China growth concerns and by a stronger USD after much better-than-expected housing starts and Building permits. Traders are now looking forward to upcoming weekly private inventory and EIA data, as well as other key economic indicators
Oil prices were mixed on Tuesday ahead of a decision on lending benchmarks by China, with the world’s second-largest economy widely expected to cut key rates to shore up a slowing recovery. Brent crude was 3 cents higher at $76.12 a barrel at 0041 GMT. U.S. West Texas Intermediate (WTI) crude was unchanged at $71.29
As US trading session commences, rebounds of Dollar and Yen seem to be gathering a bit more some steam. The broader financial market appears to be rather listless today, with major European indices roughly flat and US futures slightly down. There’s also no unified movement in the U.S. and European benchmark treasury yields. Investors appear
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Bullion prices extended their losses on Tuesday on a stronger Dollar Index (DXY). Analysts expect gold to be range bound in today’s session with a bearish tilt. MCX August Gold futures were trading at Rs 59,176 per 10 grams in the opening trade and were unchanged as against their last close while July Silver futures
Australian Dollar is trading broadly lower today, reflecting uncertainties that emerged after release of minutes from RBA meeting earlier this month. The minutes revealed that a hold was considered at the meeting. Arguments were finely balanced even though it eventually decided to hike 25bps. These revelations have stirred market doubts about the continuity of monetary
Markets: US bond and stock markets closed Gold down $7 to $1950 WTI crude oil down 49-cents to $71.29 S&P 500 eminis down 5 points, or 0.1% Toronto TSX Comp down 0.17% USD leads, NZD The US took a holiday and the dollar was still the top performer. The theme on the day was light
Oil prices eased on Monday as questions over China‘s economy outweighed OPEC+ output cuts and the seventh straight drop in the number of oil and gas rigs operating in the United States. Brent crude fell 17 cents, or 0.2%, to $76.44 a barrel by 1319 GMT while U.S. West Texas Intermediate (WTI) crude lost 27
The forex markets are holding steady in a consolidative pattern today. Notably, Euro has remained largely unaffected by continued hawkish messages emanating from top ECB officials, who have merely echoed President Christine Lagarde’s suggestion that an interest rate hike is likely in July, while situation in September remains uncertain. Euro is the third weakest in
Billionaire investor Warren Buffett’s Berkshire Hathaway said it added to stakes in Japan’s five biggest trading houses to beyond 8% on Monday, a move likely to highlight and add to the momentum driving Japan’s stock market to new heights. FULL NOTE **COMPANIES IN WHICH BERKSHIRE IS INCREASING STAKE ARE ITOCHU, MARUBENI, MITSUBISHI, MITSUI AND SUMITOMO