Gold prices fell on Monday as a stronger U.S. dollar and hopes for a swift global economic recovery boosted share markets, denting demand for a safe haven. Spot gold was down 0.4% at $1,725.26 per ounce by 0829 GMT. U.S. gold futures slipped 0.6% to $1,722. “Gold is suffering a little bit on back of
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The markets open a holiday-shortened week in a quiet note. Canadian Dollar is trading mildly lower, following retreat in oil prices. The giant container that blocks the Suez Canal, Ever Given, is finally starting to refloat, partly thanks to higher-than-usual spring tides. Elsewhere in the forex markets, Dollar and Yen are currently the firmer ones,
Justin had the news on Friday, posting a reminder here. China imposes anti-dumping tariffs on Australian wine anti-dumping duty will begin on 28 March for five years with imports of Australian wine set to incur duties of between 116.2% and 218.4% Another escalation of trade imposts flowing from the poor relations between China and Australia
NEW DELHI: Aluminium prices rose 0.14 per cent to Rs 177.50 per kg in futures trade on Friday as speculators built up fresh positions amid a positive trend in the spot market. On the Multi Commodity Exchange, aluminium contracts for April delivery gained 25 paise, or 0.14 per cent, to Rs 177.50 per kg in
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NEW DELHI: Silver prices rose by Rs 171 to Rs 65,040 per kg in futures trade on Friday as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 171, or 0.26 per cent, to Rs 65,040 per kg in 11,001 lots. Analysts said
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks soared +4.79 mmb to 1291.67 mmb in the week ended March 19. Crude oil inventory gained +1.91 mmb (consensus: -0.27 mmb) to 502.71 mmb. Stockpile increased in 2 out of 5 PADDs. PADD 3 (Gulf
Deaths are the highest since November 2020 France is reporting 41,869 new cases on the day. They are also announcing 897 new deaths. That was the highest level since November 2020 (highest for the year). France is reporting that 7,519,740 have received a first dose of the vaccine. The trends to the upside are a
Indian oil minister Dharmendra Pradhan on Friday described his Saudi counterpart’s advice to reduce oil stores to tackle high crude prices as “undiplomatic”. “That was in a way (an) undiplomatic answer by some of our old friend. I politely disagree with that kind of approach. “Certainly India has its own strategy, when and how to
After staying cautious for most of the week, risk sentiments were turned on again towards the end, bringing DOW and S&P 500 to new record highs. Aussie, Kiwi and Sterling staged a strong come back while Yen and Swiss Franc were deeply sold off. Yet, Dollar ended as the best performer last week, followed by
Major central bank rundown Reserve Bank of Australia, Governor Phillip Lowe,0.10%,Meets 06 April Holding the line There were no surprises at the last RBA rate decision earlier this month. The Cash rate and the 3 year yield target were both was kept at 0.10%. The level of bond purchases was unchanged too and stays at
By Eddie SpenceThere’s one metal that’s leaving all commodities — and even Bitcoin — in the dust this year. The challenge for investors is buying it. Iridium, one of the rarest precious metals and mined as a byproduct of platinum and palladium, has surged 131% since the start of January, far beating Bitcoin’s 85% gain.
The SNB left all its monetary policy measures unchanged. It kept the policy rate and interest on sight deposits at −0.75% and pledged to continue intervening the FX market if necessary. While leaving the growth outlook intact, the central bank upgraded slightly the inflation forecasts. In the accompanying statement, the SNB described the Swiss franc
Forex news for North American trading on March 26, 2021. A snapshot of markets near the close of the day/week shows: Spot gold is up $5.59 or 0.32% at $1732.52. For the week gold fell $12.73 or -0.73% Spot silver is down $0.02 or -0.09% at $25.04. For the week, silver fell $1.20 worth -4.6% WTI crude
NEW YORK: Oil prices rose more than 4% on Friday, rebounding on concerns it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined products. Prices, however, were still headed for a third consecutive weekly loss, with the outlook for demand dented by fresh
Yen is sold off broadly today as risk appetite returns to the markets. European indices are all trading in black at the time of writing, while US futures also point to a rebound. Additionally, US 10-year yield is also trading higher. Swiss Franc, Dollar and Euro are trading as the weaker ones. Commodity currencies and
Comments by Ifo economist, Klaus Wohlrabe German industry is very strong, order books have filled up Export expectations have exploded due to strong demand from US, China Services sector has also improved significantly Despite the manufacturing sector carrying the rest of the economy on its back, it still likely isn’t enough to counteract the downside