Gold prices edged lower on Monday as the US dollar firmed and dust around the global banking crisis settled. The yellow metal futures were trading in the red on MCX and Comex around 9:30 IST. On MCX, the April Gold futures were trading at Rs 59,105 per 10 grams, down Rs 168 or 0.28% while
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The forex markets have been relatively quiet during today’s Asian session, with currency pairs staying within Friday’s range. Major stock indexes are also demonstrating mixed performance in a tight range. Inflation data from the Eurozone and the US will be closely monitored this week. Although these figures are crucial in determining the future rate path,
A wobbly Deutsche Bank last week, from Friday: Yesterday, shares of Deutsche Bank fell 6% in US trading, today they’re down another 10.6%. JPM are not bothered though, saying (in brief): the recent widening of CDs is in our view related to one-way trade of de-0risking across all market participants we are not concerned today
The benchmark London spot gold broke through the $2,000 an ounce level last week, its highest since March 2022. In the domestic futures market, prices recuperated to a fresh all-time high of Rs 60,455 per ten grams, gaining more than 7% since January this year. There is a long-standing relationship between the economic crisis and
Russia will station tactical nuclear weapons in its neighbouring puppet state of Belarus. Putin announced the move on Saturday tactical nuclear weapons gave no indication of when the weapons will be moved A US official reacted with caution, reiterating that the US remained “committed to the collective defense of the NATO alliance”. Belarus borders three
The tumultuous bygone week ending March 24 saw gold settling down with a loss of nearly 0.50% at $1978.61, while the US Dollar Index slipped around 0.55% to end the week at 103.11 as the 10-year US yields at 3.373% were approximately down 1.70% on the week. 2-year US yields closed around 2.2% lower at
The major US stock indices are closing higher for the day, and higher for the week. For the trading year, the Dow industrial average is still down on the year but the S&P and the NASDAQ index are positive A snapshot of the closing levels for the day shows: Dow industrial average up 132.28 points
COMEX gold prices are trading near a one-year high of $2014.9 per troy ounce notched in the previous week. The yellow metal started the week on a negative note, as the SNB brokered UBS buyout of Credit Suisse calmed markets and improved the risk sentiments. There were also reports that the US officials were studying
Last week’s financial landscape was far from clear-cut. While it wasn’t a definitive risk-on market, investors seemed reluctant to abandon US shares completely. The markets found themselves mired in confusion, struggling to make sense of the relentless barrage of headlines detailing bank crises that began with Silicon Valley Bank, then spread to First Republic, Credit
I posted this reminder on Friday, but here to is again ICYMI. Something to be aware of if you are trading European markets. The European Union switch to daylight saving time on March 26. As do other European countries such as Switzerland and the UK. The clock goes forward one hour.
Physical gold dealers in India were forced to offer the steepest discounts in over a year to lure buyers put off by a record surge in local prices this week, while the banking crisis fueled steady demand in top buyer China. “Demand has stalled because of the spike in prices. Retail buyers and jewellers were
Yen is drawing some attention in today’s Asian trading session, supported by declining benchmark US and European treasury yields and robust core-core inflation in Japan. Risk-sensitive currencies, such as Sterling and commodity currencies, are under pressure as major Asian indexes trade lower. Dollar is recovering against the Euro but still lags far behind for the
Earlier news today that Treasury Secretary Yellen was meeting with regulators offered some support for markets and hope of weekend action to shore up deposits. The initial readout was vague: The statement was: Today, U.S. Secretary of the Treasury Janet L. Yellen convened a meeting of the Financial Stability Oversight Council (Council) in executive session
Oil prices fell sharply on Friday amid declining European banking shares and after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years, dampening demand prospects. Brent crude fell $1.55, or 2%, to $74.36 a barrel by 1358 GMT, while West Texas Intermediate U.S. crude futures dived $1.48,
The European session has been marked by a resurgence of market turbulence as Deutsche Bank shares nosedive, fueled by a surge in its credit default swaps. This development has had a domino effect on major European indexes and US futures, both experiencing significant drops. Investors are seeking refuge in bonds, driving the US 10-year yield
German S&P PMIs: Service PMI Flash: 53.9 (Forecast 51, Previous 50.9) Mfg PMI Flash: 44.4 (Forecast 47, Previous 46.3) Composite PMI: 52.6 (Forecast 51, Previous 50.7) March’s ‘flash’ PMI® data from S&P Global showed a second consecutive monthly increase in business activity across the German private sector, with the rate of growth accelerating though remaining
Gold prices were little changed on Friday after two sessions of sharp gains, as a slightly stronger dollar countered hopes of a potential pause in the Federal Reserve’s rate-hike cycle. FUNDAMENTALS * Spot gold was flat at $1,993.73 per ounce, as of 0104 GMT. U.S. gold futures were also unchanged at $1,996.60. * The dollar
Dollar faced broad sell-off overnight after the less hawkish than expected Fed rate hike and press conference, with Euro emerging as the biggest winner against the greenback. Sterling and Swiss Franc followed suit, while Australian and New Zealand dollars also strengthened but lagged on a weekly basis. Attention now shifts to BoE and SNB rate