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Headlines: Markets: EUR leads, AUD lags on the day European equities lower; S&P 500 futures up 0.1% US 10-year yields up 3 bps to 3.425% Gold down 0.1% to $1,995.18 WTI crude down 0.5% to $76.70 Bitcoin up 3.5% to $28,959 There weren’t many headlines during the session but there were some decent market moves

Gold prices held steady around the key $2,000-per-ounce mark on Wednesday as investors maintained a cautious stance and sought more clarity on the Federal Reserve’s rate-hike trajectory from upcoming U.S. economic data. FUNDAMENTALS * Spot gold held its ground at $1,999.09 per ounce by 0042 GMT. U.S. gold futures rose 0.3% to $2,010.20. * The

Euro is making broad gains in Asian session, fueled by hawkish comments from a top ECB official who suggested that the next rate hike could be a 50bps one. Euro’s strength is also lifting the Swiss Franc, while Sterling remains firm but lags slightly behind. In contrast, Australian and Canadian dollars are underperforming, with the

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Gold ETFs schemes have witnessed an exodus of funds over the first three months of this year as investors returned to riskier assets amid record high gold prices. The net outflows for the quarter ended March 31, 2023, stood at Rs 232 crore. Amid this backdrop, should you look to invest in the bullion via

Selloff in Australian and to a lesser extent Canadian Dollar is the main theme in the markets today, but market directions are not clear elsewhere. Euro’s rally attempt against Dollar and Yen faltered following deep retreat in European benchmark yields. But the common currency is making progress in upside breakout against Sterling. Meanwhile, Yen and

Lower rates weighed on the dollar yesterday but are not really working against the greenback in trading so far today. In part, I would say the softer mood in equities is helping to reaffirm a more risk-off approach and that is perhaps helping to see the dollar nudge a little higher now. EUR/USD is down

Gold prices edged higher in early Asian trading on Tuesday, helped by a softer dollar, although investors looked forward to further U.S. economic data duw this week to gauge the Federal Reserve’s next policy move. FUNDAMENTALS * Spot gold rose 0.4% to $1,996.99 per ounce by 0037 GMT. U.S. gold futures gained 0.3% to $2,005.50.

In today’s Asian trading session, Australian and New Zealand dollars extend their decline from late last week, weakening broadly. Concurrently, Japanese Yen is trailing as the next weakest currency. This picture aligns with the steady risk sentiment across Asia, except for Hong Kong stocks. On the other hand, Dollar, Euro, and Swiss Franc are showing

The report comes via a Bloomberg piece (gated) , in brief: Xinxiang Tuoxin Pharmaceutical Co. jumped as much as 20% in Shenzhen, while Hybio Pharmaceutical Co. rallied 15%. The gains bucked a decline in the broader market as risk sentiment subsided, with the CSI 300 benchmark falling 1.6%. The rally was driven by concerns circulating

Gold prices declined Rs 345 to Rs 60,065 per 10 grams in the national capital on Monday amid a fall in the precious metal prices overseas, according to HDFC Securities. In the previous trade, the yellow metal had ended at Rs 60,410 per 10 grams. Silver also plunged Rs 675 to Rs 74,400 per kg.

Japanese Yen suffers broad sell-off today, following comments from BoJ Governor Kazuo Ueda that seem to have quashed hopes of even a minor shift in monetary policy this week. Meanwhile, overall market sentiment remains steady, with Australian and Canadian Dollars also facing selling pressure. On the other hand, European majors are showing strength for the

EUR/USD hourly chart The market moves so far today have been generally light but the euro is seeing a decent advance from around 1.0970 to 1.1020 in European trading today. There’s not much of a catalyst but it comes off the back of more mixed trading among major currencies, with Treasury yields keeping lower while

gold to shield their portfolios could now consider adding silver. A popular ratio that determines the relative values of gold and silver is pointing to an outperformance in silver soon driven by a likely shift in preference to the cheaper precious metal following the recent rally in gold prices and a pick-up in industrial demand,

BoA remarks via eFX. For bank trade ideas, check out eFX Plus. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. Get it here. “We believe G10 economies remain in a non-landing scenario. Manufacturing PMI has been weak, but services PMI is so

Base metals prices in the global markets witnessed a mixed sentiment in the first quarter of 2023. Though copper and aluminium managed to hold moderate gains, other metals like zinc, lead, and nickel lost momentum on an uncertain demand outlook. The reopening of China’s economy and better-than-anticipated industrial growth in Europe and the US lifted

Oil weekly WTI crude oil settled on Friday up by 50 cents to $77.87. It’s a better end to a disappointing week for the oil bulls. It started with strong China retail sales data, included a US inventory drawdown and finished with an impressive US PMI from S&P Global but crude couldn’t get any traction.

As India celebrates Akshaya Tritiya today, it gives people a reason to buy gold. However, investors willing to put their money in the yellow metal, must also consider its long-term prospects before taking the plunge. It has been a top performing asset class and outperformed many of its peers. As the prices remain elevated, is