NEW DELHI: Gold prices traded higher on Tuesday amid curbs to contain the spread of Omicron coronavirus cases, while a rise in US yields supported by inflation fears kept bullion’s gains in check. The Omicron variant of the coronavirus appears to be far more contagious than previous iterations, but data suggests it may be less
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Prelim was 57.8 Prior was 58.3 Siân Jones, Senior Economist at IHS Markit said: “December saw another subdued increase in US manufacturing output as material shortages and supplier delays dragged on. Although some reprieve was seen as supply chains deteriorated to the smallest extent since May, the impact of substantially longer lead times for inputs
New Delhi: Capital markets regulator Sebi on Monday tweaked the “exercise mechanism” of option contracts on commodity futures. The decision has been taken based on feedback received from stock exchanges and the recommendations of Commodity Derivatives Advisory Committee of Sebi. In a circular, Sebi said the prescribed mechanism will be adopted by exchanges for exercise
Weekend: New Zealand, Australia, Japan, and China were all out on holidays again today but normality will return from Tuesday. As a heads up the UK and Canada will also celebrate a holiday today. News and data flow was light but Evergrande popped up in the news once again, this time with an order to
NEW DELHI: Gold prices traded marginally lower in the domestic markets on Monday, bucking the firm global trend, amid a rise in US treasury yields. That said, a surge in Omicron cases across the globe capped the downside. Gold futures on MCX slipped 0.19 per cent or Rs 49 to Rs 48,056 per 10 grams.
In some relief for consumers on New Year, National Oil Marketing companies have slashed the prices of 19 kg commercial LPG cylinder cost by Rs 102.50 effective from January 1, 2022. The 19 kg commercial cylinder will cost Rs 1998.50 in Delhi from today, sources told ANI. It will provide some relief to restaurants, eateries
In case you missed the happenings in the past week: He goes on to say that they have reined in the “meaningless” volatility in the lira and that they are taking action to prevent lira volatility. I’m sure that has been the case throughout the year so what makes this time different is beyond me.
OPEC and its allies are expected to revive more oil supplies when they meet next week, underscoring the group’s optimism in the outlook for global demand. The 23-nation alliance led by Saudi Arabia and Russia is likely to proceed with another modest monthly hike of 400,000 barrels a day as it restores production halted during
The ongoing rebound from the corona-lows was an impressive one in Europe as markets close for the year. There were slight declines today but the overall returns were impressive. French CAC 40 +29% UK FTSE 100 +14% Spain IBEX +8% Stoxx 600 +22.5% That will be tough to top in 2022 but the gains in
Commodities surged the most in over a decade this year as a rebound in demand from pandemic lockdowns was met with constrained supplies, fueling inflation around the world and forcing governments to act. But 2022 may tell a different story. The Bloomberg Commodity Spot Index, which tracks 23 energy, metal and crop futures, is ending
Here are the closing levels for 2021. The loonie’s late charge put it back into the lead. It was the lone G10 currency to better the US dollar. On the other side of the FX universe was the Turkish lira with a 42% drop. We’ve had a great year here despite some growing pains and
KUALA LUMPUR: Malaysian palm oil futures were set for a third straight annual gain on Friday, with tight production in the first half of 2022 expected to keep prices firm next year. The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange gained 5 ringgit, or 0.11%, to 4,688 ringgit ($1,123.68)
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The Canadian dollar is ripping higher today and is by-far the best performing G10 currency. The move has knocked USD/CAD 110 pips lower to 1.2633. I strongly suspect this is a flow-driven move in a thin market — someone needed Canadian dollars ASAP. That’s especially evident with oil down 1.2% today and global equities softer.
Gold prices are set for a negative year in 2021. The metal’s prices in India have declined by more than 4% till now on improved investment sentiments for riskier assets. Gold gave tremendous returns in 2019 and 2020, at 13% and 26%, respectively, on the trade war and pandemic rally. Investors have varied opinions on
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks slumped -1891 mmb to 1184.59 mmb in the week ended December 24. Crude oil inventory dropped -3.58 mmb to 420 mmb, compared with consensus of a +3.09 mmb increase. Inventory decreased in 3 out of
As part of the plan China will also optimise the annual quota mechanism for the production of rare earth, tungsten and other minerals. Info comes via the South China Morning Post, link here for more (may be gated). The piece opens with: China will encourage domestic exploration of iron ore and use more scrap metals