As India approaches Budget 2022-23, it is a good time to recall that in last year’s Budget, the government had announced a reduction in the basic customs duty on gold from 12.5 per cent to 7.5 per cent. An additional cess of 2.5 per cent was also imposed, taking the effective customs duty to about
News
> Japan PPI for December 2021 1.1% y/y (vs. expected 1.1%, prior 1.1% y/y) JPY Producer Price Index is inflation at a business-to-business level (in a nutshell). AKA the Corporate Goods Price Index, which is probably a better indication as to what it is. more to come ADVERTISEMENT – CONTINUE READING BELOW Tags ADVERTISEMENT –
US stocks staged a strong comeback overnight, with DOW staging the first-ever 1000-point-plus intraday U-turn. It’s down -1100 pts at initially trading but closed up 11 pts eventually. Yet, risk-off sentiment remains dominant in Asia. Dollar is currently the strongest, followed by Yen. Sterling is the worst performer, followed by Kiwi and Loonie. Aussie managed
NEW DELHI: Gold prices were little changed on Tuesday, as investors looked for interest rate hike cues from the US Federal Reserve’s meeting. Investors are focused on the Fed’s two-day policy meeting, which starts on Tuesday, amid expectations the central bank will signal that it planned to raise rates by 25 basis points in March.
There’s not much else going on besides some continued pressure on equities, with US futures pinned lower as highlighted here. As such, the dollar is continuing its positive run from yesterday with EUR/USD falling to its lowest since 22 December now. Sellers are keeping well in near-term control, defending a push against the 100-hour moving
Dollar and Yen rise again today as US futures point to sharply lower open. Yesterday’s strong U-turn seems lacking momentum to extend. But selling focus has somewhat turned to European session, with Swiss Franc leading the way lower. Commodity currencies, except Kiwi, are mixed. In other markets, Gold is staying in tight range above 1830.
New Delhi: Gold prices rose by Rs 86 to Rs 48,555 per 10 gram in the national capital on Tuesday on local demand and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 48,469 per 10 gram. Silver declined by Rs 522 to Rs 63,907 per kg from
Inflation and business survey data were out at the same time: Analysts in Australia have been moving towards forecasts of earlier rate hikes from the RBA but are still eyeing hikes in H2, not imminently. As I said in the CPI post I don’t see any trigger for a hike soon. Back to the AUD,
Swiss Franc, Dollar and Yen rise strongly today on risk-off sentiment as geopolitical tensions around Ukraine escalate. Aussie is currently the worst performing one, followed by Sterling and then Kiwi. Euro and Canadian are mixed. In the back ground, markets are also preparing for some hawkish comments from Fed later in the week to set
NEW DELHI: Gold prices were trading little higher on Monday, as investors awaited the US Federal Reserve’s outcome, scheduled later in the week. Meanwhile, concerns over inflation and Russia-Ukraine tensions kept bullion’s safe-haven allure intact. Traders will seek confirmation on the interest rate hike path of the US central bank. Gold futures on MCX were
Sellers are looking to break key support near the 0.6700 level, which helped to stem the initial decline back in December. The 38.2 retracement level @ 0.6702 adds to the support layer but both appear to be giving way now in a drop to 0.6690. Of course, the daily/weekly close is still one that will
The forex markets are pretty steady in Asian session even though others trade with a slight risk-off tone. Major pairs and crosses are stuck inside Friday’s range for now. But volatility is guaranteed ahead, with Fed and BoC featured, as well as a large batch of important economic data. As for today, main focuses will
Gold prices on Monday jumped by Rs 255 to Rs 48,431 per 10 grams in the national capital on strong global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,176 per 10 grams. Silver also moved up by Rs 80 to Rs 64,793 per
BNP Paribas Asset Management on China’s real estate sector “We are of the view that we are at a major inflection point in terms of policy and we are likely to see some significant easing,” “We are involved in the sector and we are positive in the sector. We have built this position over the
Gold prices on Thursday steadied near a two-month high hit in the previous session, with higher U.S. Treasury yields preventing any gains amid caution building around developments at the U.S. Federal Reserve‘s meeting due next week. FUNDAMENTALS * Spot gold was flat at $1,839.36 per ounce as of 0031 GMT, steadying near its highest since
Blackrock is out with its latest macro perspectives note and it makes a compelling argument: Inflation is largely driven by supply shocks, not fiscal policy and raising rates isn’t the solution. It’s been largely driven by manufacturing shortages and a shift in consumer spending into goods rather than services. We’ve heard all this before and
SINGAPORE: prices slipped back on Thursday after hitting their highest levels since 2014 in the previous session on the back of strong demand and short-term supply disruptions, underlying factors that limited losses as investors took profits. Brent crude futures dropped 72 cents, or 0.81%, to $87.72 a barrel, as of 0152 GMT. The global benchmark
No one knows if Russia is going to invade Ukraine but there are plenty of reasons to worry. Starting Monday, the US State Dept will start evacuating family members of embassy personnel in Ukraine, according to reports. On the diplomatic side, the US said it would respond in writing to a set of security proposals