NEW DELHI: Gold and silver futures dipped on Thursday, following global trends after US Federal Reserve signalled easing its monthly bond purchases by next year and a sooner-than-expected interest rate hike. In its policy statement on Wednesday, the US central bank said it could start paring bond purchases as soon as November and that half
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The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks fell -8.78 mmb to 1234.64 mmb in the week ended September 170. Crude oil inventory fell -3.48 mmb (consensus: -2.44 mmb) to 413.96 mmb. Stockpile fell in 4 out of 5 PADDs. PADD2 (Midwest) alone
No taper tantrum today The dots moved up Powell said it would only take a decent employment report for him to taper and that many are already ready to taper Powell roughly outlined a taper timeline Powell said long-term inflation expectations are still anchored. With the word ‘still’ indicating some new uncertainty Some of that
New Delhi: Among the precious metals, silver has been underperforming consistently for sometime now. A record-breaking bull run in equities and a stronger dollar have diminished the lustre of the white metal quite a bit. Spot prices of silver were pinned around Rs 60,000 on Wednesday, before slipping to Rs 59,714 earlier this week, highlighting
Markets have turned quiet today as focus is shifted to FOMC policy decisions. While a tapering announcement is highly unlikely, there are still prospects of hawkish surprises in the dot plot and the economic projections. In the currency markets, Sterling is currently the worst performing one for the week, followed by Kiwi and then Aussie.
Modest gains in early trades German DAX futures +0.6% UK FTSE futures +0.6% Spanish IBEX futures +0.7% This follows a decent rebound in trading yesterday after the poor start to the week on Monday. The overall risk mood is keeping relatively steady for now as China jitters are placed on the sidebar with the Fed
NEW DELHI: Tracking global cues, gold prices were little changed in the domestic market, trading almost flat on Wednesday. Asian markets were trading cautiously amid rising uncertainties triggered by China’s Evergrande debt crisis and anticipation of policy cues from the US Federal Reserve on its timeline for reducing stimulus in the world’s largest economy. Gold
Risk aversion seems to have eased a bit today, with recoveries seen in European markets and US futures. Yen and Dollar have both turned into sideway consolidations. But no clear support is seen in Aussie and New Zealand, as both remain under pressured. Meanwhile, Swiss Franc and Canadian Dollar are taking the lead and strengthen
Back and forth trading in oil today WTI crude oil came into US trading at the highs of the day near $71.60 but fell sharply as sentiment deteriorated in early equity trading, dropping to $69.67 and briefly touching below yesterday’s low. Crude steadied from there and returned to $70.51. The daily chart is comfortably within
New Delhi: Gold in the national capital on Tuesday was marginally down by Rs 3 to Rs 45,258 per 10 grams inline with weak global precious metal prices and rupee appreciation, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 45,261 per 10 grams. Silver gained Rs 40 to
Risk sentiment appears to have stabilized in Asia a bit. The steep fall in Nikkei was just a post-holiday catch up. Yen and Swiss Franc are digesting gains but remain the strongest for the week. Sterling is indeed the worst performing so far, worse than even commodity currencies. Selling in European crosses is clearly weighing
UK business secretary, Kwasi Kwarteng, repeats the call that the government will not be rewarding failure Should not be throwing taxpayers’ money at companies that have been badly run People should be able to find energy pricing which is very much in-line with their old tariff when a company goes bust This is a more
NEW DELHI: Gold prices were trading little changed on Tuesday, holding recovery gains of the previous session. Investors adopted a risk-averse stance ahead of the US Federal Reserve’s policy meeting. Gold futures on MCX were marginally down 0.16 per cent, or Rs 73, at Rs 46,205 per 10 gram. Silver futures were flat, down merely
Markets are generally in deep risk-off mode today, as China property fears spread from Hong Kong stocks to European to US. Yen remains the strongest one as rally extends, which Swiss Franc is trying to catch up. Dollar is is losing some ground but stays much better than others. Canadian Dollar is currently the worst
18% of production still shut in and could be for awhile The BSEE reports that 18.19% of US gulf oil production remain shut in, or 331,000 barrels per day. That’s steadily improved in the past week following the reopen of Port Fourchon. The bad news is that Shell revealed today that its WD-143 ‘A’ platform
Gold prices inched lower on Monday, pressured by a firmer dollar, while investors awaited guidance from the US Federal Reserve on when it is likely to start withdrawing its bond-buying programme. FUNDAMENTALS Spot gold dipped 0.1% to $1,752.66 per ounce by 0050 GMT, while US gold futures edged up 0.1% to $1,753.80. The dollar index
Economic developments since the last meeting have raised concerns of “stagflation” in the UK, i.e. slow growth with strong inflation. As the main constraint to growth is supply chain, we do not expect this to derail BOC’s monetary policy stance. We expect the central bank to vote unanimously to leave the Bank rate unchanged at
The market is nervous about the Evergrande situation [embedded content] That being said, just be wary that holidays in China itself, Japan, South Korea, and Taiwan may have exacerbated the anxiety and fear in Asia Pacific trading today amid thinner trading conditions. Still, the situation is rather tense and warrants attention. As mentioned earlier, the