Gold and silver settled on a weaker note in the international markets on Friday. Gold February futures contract settled at $1,928.00 per troy ounce, down by 0.10%, and silver March futures contract was settled at $23.725 per troy ounce, down by 1.23%. Domestic gold also settled on a weaker note last week. Gold April futures
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Sentiment in Asia was mixed today. Most markets have turned cautious ahead of the central bank bonanza this week. At the same time Hong Kong stocks tumble deeply, as led by Chinese tech giants. In the currency markets, Australia Dollar is currently leading commodity currencies lower. Yen is the slightly stronger one while European majors
This a Bloomberg (gated) headline after China’s week-=long Lunar New Year holiday: China Celebrated Lunar New Year Like COVID No Longer Exists Main points from the article: More than 300 million trips were made during the holiday, nearly 90% of pre-pandemic levels, according to the Ministry of Culture and Tourism. Tourist spots were swamped movie
With the Union Budget 2023-24 being just a couple of days away hence thought of sharing the agri industries’ expectations out of the budget. Now that the ban on seven agri-commodity futures contracts in India is more than a year, it is becoming difficult for the market participants to get a better price discovery mechanism
News is still murky but there are reports of explosions in several parts of Iran. Many of the reports are centered around Isfahan, which is a central city that’s reportedly home to some military plants, perhaps the ones supplying drones to Russia for the war in Ukraine. Here’s a purported video of one strike: MULTIPLE
Spot gold closed with a gain of nearly 0.1% in the week ending January 27. With US Q4 advance GDP, durable goods orders, weekly jobless claims, pending home sales, and preliminary S&P global US manufacturing and services PMI data for January coming in better than forecast, chances of soft landing of the US economy have
There is going to be some kind of reckoning around claims about ‘self-driving’ and robotaxis. Elon is currently in a lawsuit that’s in court right now about his ‘funding secured’ tweets and he’s a guy who has pushed the limits of truth. Consumer Reports this week ranked Tesla’s driver assistance features as 7th among car
NEW DELHI: Having made five consecutive weekly gains on hopes of slower rate hikes by the US Federal Reserve, gold prices today hit a fresh all-time record high in India. On , February gold futures rose to Rs 57,099 per 10 grams. The yellow metal, treated as a haven asset during uncertain times, is up
Nasdaq daily Closing changes in North American equities: S&P 500 +0.5% Nasdaq +1.3% Russell 2000 +0.8% Toronto TSX Comp +0.1% On the week: S&P 500 +2.7% Nasdaq +4.6% Russell 2000 +2.7% Toronto TSX Comp +1.1% The story of the week is the revival of the high flyers of 2021 with Tesla leading the way in
Crude oil prices were steady on Tuesday as concerns about a global economic slowdown and expected build in U.S. oil inventories were offset by hopes of a fuel demand recovery from top importer China. Brent crude was up 12 cents, or 0.1%, at $88.31 a barrel by 1450 GMT. U.S. West Texas Intermediate (WTI) crude
Australian Dollar strengthens further with mildly positive risk sentiment in Asia. But other major currencies are sluggish. Yen is still recovery but apparently lacks committed buying. Canadian Dollar is staying soft after yesterday’s BoC hike, but selloff is relatively limited. Euro is having a slight upper hand against Dollar, but both are actually mixed. Focuses
Markets: Gold down $1 to $1928 US 10-year yields up 2.5 bps to 3.51% WTI crude oil down $1.63 to $79.37 S&P 500 up 0.25% to 4070 JPY leads, EUR lags The week is winding down and FX is largely flat on the day. There was some USD buying into the London fix but it
Oil prices edged marginally higher on Friday, extending for a second session on strong U.S. economic data and strengthening hope that the reopening of the Chinese economy would boost demand. Brent futures gained 30 cents, or 0.3%, to $87.66 a barrel by 0113 GMT, while U.S. crude rose 21 cents to $81.22 per barrel, a
The markets are steady after US data showed further cooling in headline and core PCE inflation. While the decline in Dollar has been slowing somewhat, there is no committed buying for a sustainable rebound. The greenback is likely to end the week mixed. Trade might be relatively subdued for the rest of the session. Traders
If I were to describe it, I’d say that the dollar is on the brink still and that while there are some technical levels being stretched, they aren’t being broken as we look towards the central bank bonanza next week. But even before the end of the week and month-end trading early next week, it
Gold prices were little changed in early Asian hours on Friday, as traders awaited U.S. inflation data due later in the day to gauge the Federal Reserve‘s rate-hike stance. FUNDAMENTALS * Spot gold rose 0.1% to $1,931.95 per ounce, as of 0030 GMT, and was headed for a sixth consecutive weekly gain. U.S. gold futures
Risk-on rallies appear to be taking a breather ahead of the weekend. While US stocks jumped overnight, Asian markets are just mixed. Focuses will turn to US PCE inflation data today. Dollar might try to bounce if there is upside surprise in the report. Yet, the big events are the three central bank meetings next
Overnight piece from Bloomberg (gated). In summary: The European Union is floating a plan to cap the price of Russian diesel at $100 a barrel From February 5 (the same date as the EU will ban almost all imports of refined Russian products) $45 threshold would be set for discounted ones like fuel oil Bloomberg