New Delhi: Gold in the national capital on Wednesday dipped marginally by Rs 29 to Rs 46,903 per 10 gram reflecting an overnight fall in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,932 per 10 grams. Silver also tumbled Rs 762 to Rs
News
The forex markets are generally range bound as traders await FOMC minutes. The main focus will be on discussions on the timing of tapering, which wasn’t clearly indicated in the statement and economic projections. Dollar’s rise appears to be losing steam as global sentiments stabilized today. DOW futures point to a recovery while S&P 500
The Sankei daily newspaper reports on the matter This comes amid a rise in infections, with Tokyo recording 920 new daily cases today – the highest since 13 May. There is also a report from Reuters earlier saying that officials are considering a ban on all spectators for the Olympics, in order to contain the
NEW DELHI: Gold prices rose on Wednesday, going towards a three-week high scaled in the previous session, helped by a drop in US Treasury yields as investors awaited the minutes of the US Fed‘s June meeting for clues on policy outlook. The yellow metals posted mild gains in domestic markets. All eyes are set on
Yen and Dollar surged strongly overnight, but lost some momentum after on stocks recovered from initial steep selloff. Both are still firm with Asian markets in risk aversion mode. Canadian Dollar is currently the worst performing for the week, followed by Aussie. Focus will now turn to FOMC minutes for guidance on the next moves,
That’s the expectations according to a survey of economists by Bloomberg. All but one of 18 surveyed economists said the announcement would come before national elections that must be held by early fall. The median forecast was for a package of between 20 trillion yen and 30 trillion yen. Economists estimated the new stimulus package
By Stanley Reed Oil prices touched their highest levels in years Tuesday, a day after OPEC, Russia and their allies failed yet again reach agreement on production increases. A teleconference planned for Monday never started, following meetings Thursday and Friday that did not reach a deal. West Texas Intermediate, the U.S. bench mark, rose as
Euro drops broadly today following sharp decline in Germany ZEW economic sentiment. Swiss Franc is following down closely too. On the other hand, New Zealand Dollar remains the strongest on RBNZ rate speculations while Australian Dollar follows as support by RBA tapering. Yen and Dollar are mixed, together with Sterling. European stocks are trading mildly
Latest data released by Markit/CIPS – 6 July 2021 Of note, construction output growth hits a 24-year high in June with the recovery led by house building and commercial work. Overall construction activity climbed by its quickest pace since June 1997 with new orders also rising sharply. That said, input price inflation is observed to
By Saket Sundria and Sharon Cho The breakdown of OPEC+’s meeting on production levels has left the oil market in limbo. The immediate consequence is that an expected increase in output in August now likely won’t happen, leaving the world short of barrels as the economic recovery gathers pace. The lack of unity within the
As widely anticipated, the RBA announced some changes in the monetary policy. The overall tone of the meeting and the policy statement is upbeat about the economic recovery while cautious over the uncertainty and subdued inflation. Policymakers remain optimistic over economic developments. As noted in the meeting, “the outlook for investment has improved and household
The NZIER Quarterly Survey of Business Opinion (QSBO) is a closely watched NZ economic indicator From the New Zealand Institute of Economic Research Capacity utilisation is higher, coming in at 94.9% vs. 93.8% in Q1. Net 10% of businesses expect an improvement in the economic outlook on a seasonally adjusted basis from the previous quarter
Gold prices inched higher on Monday as a subdued dollar and lower bond yields amid a mixed bag of U.S. labour data allayed investor concerns about a faster policy tightening, helping the metal rise towards the $1,800 level once again. Spot gold was up 0.2% at $1,790.70 per ounce by 10:31 am EDT (1431 GMT),
Overall, the forex markets are relatively mixed today and trading will probably continue to be subdued with US on holiday. Sterling is currently the stronger one, followed by Yen and Aussie. Canadian is the weakest, followed by Kiwi and then Swiss. Eurozone is mixed despite strong investor sentiment data. But all major pairs and crosses
Latest data released by Sentix – 5 July 2021 Investor morale is seen improving to start 2H 2021 as economic conditions in the region pick up ahead of the summer, with the services sector in particular showing a marked improvement as virus restrictions are loosened. Sentix notes that: “The massive investments by member states, supported
Prices of copper, often used as a gauge of global economic health, advanced on Monday on hopes of stronger demand for metals and amid a sustained US economic recovery after data showed an acceleration in hiring in the world’s biggest economy. Three-month copper on the London Metal Exchange was up 0.5% at $9,427.50 a tonne,
Important decisions will be made at this week’s RBA meeting. All monetary policy measures would remain unchanged. Yet, as indicated in June, policymakers would discuss on the format of QE purchases after completion of the current tranche in September, and the maturity of bonds in yield curve control. While the overall tone of the meeting
A Vitol executive speaking over the weekend, said that the 400K barrel per month (through to the end of this year) increase in supply being proposed by OPEC+ is insufficient to hold prices from rising. “There is very little doubt, that whatever OPEC agrees by way of lessening of the cutbacks it will surely ….