Gold price declined by Rs 435 to Rs 49,282 per 10 gram in the national capital on Wednesday in tandem with fall in rates of the precious metal in international market, according to Securities. In the previous trade, the yellow metal had settled at Rs 49,717 per 10 gram. Silver also tumbled by Rs 1,600
News
In a surprised move, BoE announced to intervene in the gilt markets. While 10-year gilt yield drops notably on the news, the recovery in FTSE is just mild. Sterling also just fluctuates and it’s trading as the weakest one for the day. On the other hand, Swiss Franc buyers jump in on worsening energy crisis
The current theme in markets is to buy the dollar, sell everything else. The early reprieve yesterday was conceded as bonds turned and that helped to signal a turnaround in broader market sentiment as well. As much as investors would like to remain hopeful, it’s tough to pick a reversal point for stocks especially when
Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The
The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government’s growth plan will be done at next “scheduled” meeting, ruling out an emergency meeting. Dollar is also taking a breather even though 10-year yield rose to the highest level since 2010.
It’s odd that the report, from Bloomberg, indicates it will be with ‘Wall Street’. That could just mean the finance community but you’d think he would be more eager to meet with banks in the UK. In any case, he might have to resort to begging them to buy some gilts at this pace. UK
New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures
Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and
Much of the statement is lengthy and verbose as the central bank basically endorsed the government’s recent actions and ruled out any emergency rate hikes to be done in between its policy meetings. The statement on the latter reads: “As the MPC has made clear, it will make a full assessment at its next scheduled
Gold prices rose on Tuesday as the dollar’s rally paused, but prices held close to a 2-1/2-year low on expectations of further policy tightening by the U.S. Federal Reserve in its efforts to quell soaring inflation. FUNDAMENTALS * Spot gold gained 0.6% at $1,631.89 per ounce, as of 0103 GMT. Prices hit their lowest level
Sterling’s free fall extends into Asian session today, even against the weak Euro which is pressured against all other major currencies. Dollar is currently the strongest one and would likely remain so for now. Yen, Swiss Franc and Canadian Dollar are also firm. Australian and New Zealand Dollar are mixed for now, but both are
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not
Gold prices in the national capital rose by Rs 138 to Rs 49,786 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had closed at Rs 49,648 per 10 grams. Silver also jumped by Rs 224 to Rs 56,514 per kilogram from Rs 56,290 per kg in the previous
Dollar is extending its broad-based rally today. But other positions are somewhat changing. Sterling is now recovering as traders take profit, while awaiting an unconfirmed statement from BoE. Euro is also paring some recent losses. Meanwhile, Swiss Franc, Yen and Canadian soften in general. Australian and New Zealand Dollar are mixed. Technically, while Sterling recovers,
It was an especially thinly traded early Monday in Asia today with a public holiday in New Zealand. Very early trade in GBP/USD took the pair to lows around 1.0765, carrying on its cratering during Friday’s trade. The early slump was soon recovered, GBP/USD ticked back to just under 1.0850 as liquidity improved a little.
Gold prices fell to a new 2-1/2-year low on Monday, weighed down by a dollar and prospects of further interest rate hikes by the U.S. Federal Reserve to bring down inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,638.59 per ounce, as of 0053 GMT, after hitting its lowest level since April 2020 earlier
What will stop the dollar? A Fed pivot might but don’t hold your breath. Powell speaks in a few minutes but it’s a Fed Listens event and those are not the place for monetary policy pronouncements. We get Brainard and Bowman on a panel shortly after the top of the hour and that could offer
Globally, gold prices are languishing near a two-and-a-half-year low, weighed down by a rapid rise in global interest rates and a surging US dollar. The benchmark London gold has corrected by about 20 per cent from its March high when the Russian-Ukraine tensions shot up gold prices to near record peaks. Meanwhile, domestic prices are