Gold prices slumped to a 4-week low ahead of the Fed’s decision but managed to hold above the $1800/oz level as the central bank didn’t spring any surprises. Despite the recovery, gold ended the week lower with a decline of nearly 2 per cent. US inflation data released earlier this month showed that consumer prices
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I can’t remember many things that have ever fallen for 12 straight days but here we are. Bitcoin is down another $2420 today, breaking the $20,000 level and continuing lower to $18,171, which is scarcely above the session lows. This is the lowest since mid-December 2020 and there isn’t much in the way of support
NEW DELHI: Gold prices dropped on Friday, thanks to the firm US dollar and higher treasury yields, which weighed on the demand for the safe-haven metal. The yellow metal is headed for the biggest weekly drop since May. Gold futures on were trading lower, easing about 0.10 per cent or Rs 52 to Rs 50,934
Net reactions of the global markets to Fed’s 75bps rate hike were rather negative. Global stocks ended generally lower after initial recovery. Additionally, SNB delivered a surprised 50bps rate hike while BoE’s 25bps had a hawkish undertone with three members wanted more. BoJ stayed calm and kept interest rate unchanged while maintaining the 10-year JGB
Cash stock markets, bonds and FX are closed on Monday in the US (there may be skeleton staffing at some bank desks). CME futures hours are, in summary (there are exceptions): Globex is open for a few hours on Sunday evening (see rows 5 to ( in pic below)(1700 to midnight Chicago time), 19 June.
New Delhi: Gold prices in the national capital on Friday rallied by Rs 416 to Rs 50,802 per 10 grams, according to HDFC Securities. In the previous trade, the yellow metal settled at Rs 50,386 per 10 grams. Silver also surged by Rs 1,014 to Rs 61,343 per kg from Rs 60,329 per kg in
The USD moved lower yesterday helped by the Swiss National Bank surprise tightening, and a string of weaker data. Today the story was different. The Bank of Japan kept rates unchanged and said that they would continue the put a ceiling on the 10 year yield by being a buyer. The industrial production was weaker
New Delhi: Amid the rising inflation, the best hedge against inflation is running out of favour. Gold is not the first choice for investors to make or save their fortunes in these tough times. The rising bond yields and stronger dollars are denting the yellow bullion’s appeal as investors will have to pay more for
Swiss Franc remains the strongest one for the week and stays firm into US session. Dollar is also regaining some ground, as the second best. On the other than, commodity currencies are the worst performing one, as led by Canadian. In other markets, European indexes are mildly in black while US futures are nearly flat.
ECB policymaker, Ignazio Visco, noted yesterday on the spread that “levels above 200 bps are not justifiable” and that “a differential of less than 150 bps would be justified by the fundamentals”. I’m not sure what “fundamentals” he is referring to but if the ECB decided to lay down a challenge to markets, they should
The US Federal Reserve’s announcement that it is raising interest rates by 0.75 percentage points and will potentially follow up with further moves of a similar size led to some nervousness in the gold and silver markets. The metals remain tossed and torn between the inflation issue and the related tightening of monetary policy by
Yen trades broadly lower today after BoJ left monetary policy unchanged, including keeping the 10-year JGB yield cap. Selling is not too fierce for now on mixed sentiment in the Asian markets. But if global stocks stage a pre-weekend rebound, the decline in Yen could quickly intensify. Meanwhile, Swiss Franc is still the strongest one
Earlier LNG news on the fire (which will see only a ‘partial’ restart in 90 days and full operations won’t resume until ‘late 2022’) at a Texas facility: This now via the Wall Street Journal (gated) on Russia using LNG as a weapon agaisnt Europe. In summary: Moscow’s move to slash natural-gas exports to Europe
Gold prices in the national capital rose by Rs 21 to Rs 50,602 per 10 grams on Thursday in line with recovery in global prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,581 per 10 grams. Silver also jumped by Rs 37 to Rs 60,525 per kg from Rs
Swiss Franc surges sharply higher today after surprised rate hike by SNB. Sterling also rises on BoE rate hike with hawkish voting. Yen is following closely on risk aversion but Dollar is lagging slightly behind. The greenback is still digesting post FOMC position adjustments. Risk-off sentiment sends commodity currencies lower, as led by Aussie. But
It is turnaround Thursday as markets are switching back the other way after the sigh of relief following the Fed decision yesterday. There was a lot of angst in the buildup to the FOMC meeting, so once that was over and done with it seems like markets were just glad to get over the hump.
NEW DELHI: Gold prices edged higher on Thursday on the back of mild weakness in the US dollar. A widely expected interest rate hike by the US central bank sent the currency tumbling. The US Federal Reserve on Wednesday approved a 75-basis-point interest rate hike, its largest in more than a quarter of a century,
US stocks recovered overnight after Fed delivered the 75bps rate hike as market priced in, while Dollar and yields retreated. Asian markets are mixed with some weakness seen in Hong Kong HSI. For the week, the greenback remains the strongest one, except versus Yen which it’s paring gains against. Sterling is the worst performing as