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Gold prices were little changed on Friday and were heading for their second straight weekly decline, as prospects of more interest rate hikes by the U.S. Federal Reserve dented bullion’s appeal. FUNDAMENTALS * Spot gold was flat at $1,861.11 per ounce, as of 0043 GMT. For the week so far, the metal was down 0.2%.

Daily changes: S&P 500 +0.2% Nasdaq Comp -0.6% DJIA +0.5% Russell 2000 +0.2% Toronto TSX +0.1% Weekly changes: S&P 500 -1.1% Nasdaq Comp -2.4% Russell 2000 -3.4% Toronto TSX -0.7 The Nasdaq consistently underperformed this week but that was after weeks of outperformance. in fact, this was the first weekly loss of the year for

Oil prices fell in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world’s top oil importer. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a

I’ve been writing about anecdotal reports that US home and auto sales suddenly picked up in the past few weeks. They’re the most interest-rate-sensitive part of the economy so they’ve been hit hard by Fed moves. However with rates ebbing early in the new year, a torrent of pent-up demand emerged. I think it’s telling.

In the wake of a much stronger than expected US job report for the month of February, JOLTs job data for December beating expectations, and stellar US ISM services report for the month of January have suddenly turned around sentiments and views on inflation. Market participants are becoming concerned that notwithstanding economists’ forecasts of upcoming

While the economic calendar was relatively light, the week was full of surprise. The biggest one was the big wagers that put on Fed interest rate peaking at 6%. Rumors and speculations about the next BoJ Governor triggered some volatility. Meanwhile, the blockbuster Canadian job data came in and blew everyone away. Canadian Dollar eventually

Last week, the “WOW” came from the US jobs report. Recall the US added 517K new jobs, much higher than the 185K estimate. Today, “WOW II” came via the Canada jobs report which added 150K. That gain came after a sharp rise of 69K last month which was revised lower from 104K previously reported, but

New Delhi, Gold price tumbled Rs 669 to Rs 56,754 per 10 grams in the national capital on Friday amid weak global trends, according to Securities. In the previous trade, the yellow metal had touched Rs 57,423 per 10 grams. Silver also plummeted Rs 1,026 to Rs 66,953 per kilogram. “Spot gold prices in the

Canadian Dollar steals the show in early US session after astonishingly strong employment data. It’s followed by Yen, which had some jitters regarding new rumors about BoJ Governor nomination. European majors, on the other hand, are the weaker ones for today, in order of Euro, Swiss Franc and Sterling for now. Aussie and Kiwi are

There were new highs in several European indexes yesterday but for the second day in a row there was also some heavy selling intraday. That was a sign of looming weakness and it manifest today, though not dramatically. On the day: Stoxx 600 +1.3% German DAX -1.4% Francis CAC -0.9% UK’s FTSE 100 -0.5% Spain’s

Oil prices jumped more than 2% on Friday, heading for weekly gains, as Russia announced plans to reduce oil production next month after the West imposed price caps on the country’s oil and oil products. Brent crude futures rose $2.17, or 2.57%, to $86.67 a barrel by 0900 GMT. U.S. West Texas Intermediate (WTI) crude

The markets are overall staying in directionless mode for now. Dollar’s selloff overnight didn’t last, as risk rally faded quickly. The greenback in actually the strongest one in Asian session, while Aussie and Kiwi are the weakest, indicating some risk aversion. As for the week, Sterling is so far the best performer, followed by Swiss

This sort of market volatility is great but really not for the faint-hearted. The push and pull continues with risk tones having held firmer in European trading yesterday before souring in US trading once again. I warned about that possibility in yesterday’s post here. Essentially, this is a market that is still figuring things out

Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China’s recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures firmed

Dollar sellers are back in control today, as markets appear to turn back into risk-on mode. In particular, FTSE is hitting another record high. The greenback is still inversely coupled to risk sentiment. Swiss Franc and Canadian are trailing Dollar as the next weakest. On the other hand, Kiwi and Aussie are the strongest, followed

The dream start to the year or European stocks is continuing as it shakes off the recent turmoil in US markets. Stoxx 600 +0.6% German DAX +0.8% Francis CAC +1.0% UK’s FTSE 100 +0.4% Spain’s Ibex +0.3% Italy’s FTSE MIB +1.2% European stocks sagged late yesterday as the US mood turned but that negativity didn’t

Gold price rose Rs 35 to Rs 57,410 per 10 grams in the national capital on Thursday, according to Securities. The precious metal had ended at Rs 57,375 per 10 grams in the previous trade. Silver, however, fell Rs 5 to Rs 67,941 per kilogram. “Spot gold prices in the Delhi markets traded at Rs

Price actions in Asian session remain indecisive. Euro is staying as the worst performer today, weighed down by cross selling against Swiss Franc and, to a lesser extent, Sterling. Aussie and Kiwi are the stronger ones but overwhelmed by the Franc. Dollar and Yen are mixed for now awaiting further guidance from risk sentiment. US