Silver surged at the week’s open, with futures topping $29 an ounce within minutes, as the the Reddit-inspired frenzy that roiled stock markets last week spills over into commodities. The extraordinary spike came after retail sites were overwhelmed with demand for bars and coins at the weekend. Outlets including Apmex, the Walmart of precious metals
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That puts an end to Western Australia’s 10-month coronavirus-free streak This comes as the security guard working at the hotel – which serves as a quarantine facility for inbound travelers – tested positive for COVID-19 with fears it could be a UK or South African variant. Western Australia premier, Mark McGowan, said that: “Beginning at
By Kevin Crowley, Rachel Adams-Heard and Alix Steel American oil executives began a pushback against some of President Joe Biden’s climate policies by making the case that fossil fuels from U.S. shale have a lower carbon footprint than imports. Since taking office this month, the Biden administration has made swift moves to pause sales of
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China’s China’s National Bureau of Statistics (NBS) official survey PMIs Manufacturing 51.3Non-manufacturing 52.4Composite 52.8 prior 55.1 The PMI index of manufacturing sentiment hit a 38-month high of 52.1 in November last year. Its been above 50, and in ‘expansion’ for most of 2020 despite the pandemic impact. China’s policy of “internal circulation” (in a nutshell business
Gold prices were steady on Friday as investors waited for developments around a U.S. stimulus package, although the metal was on course to post a weekly and monthly decline hurt by a stronger dollar. FUNDAMENTALS * Spot gold was unchanged at $1,840.91 per ounce by 0058 GMT. Prices were down 0.6% for the week and
What you need to know The basic playbook for the COVID-19 recovery is that the vaccine will work. However, one aspect you may have in the back of your mind is how effective will the vaccine be against the COVID-19 variants? In this article I will outline the variants and some of the key issues
SINGAPORE: Oil prices were slightly lower in subdued trade on Friday, sticking to ranges seen over the past three weeks, as investors looked for signs of changing supply and demand fundamentals. A cut in Saudi Arabia‘s oil supply and lower U.S. oil stocks helped offset price pressures from fuel demand, which is slowing due to
January ended with an exceptionally volatility week. While GME occupied a lot of headlines, there were other important developments like vaccines, US stimulus, and central bank expectations. Sterling ended as the strongest one with traders paring bets on negative interest rate of BoE. The same went for New Zealand Dollar too, which ended as second
The forex news for North American trading on January 29, 2021 It was a relatively quiet day for the meme stocks, after yesterday’s volatile price action following the restrictions on trading by RobinHood and others. The relative calm in the meme stocks, did not stop the major US indices from moving sharply to the downside
The credit profile of tea companies will improve as the EBIDTA (earnings before interest, tax, depreciation and amortisation) margin of 44 tea companies rated by CRISIL Ratings (accounting for 12% of the industry’s revenue) is expected to increase 300 basis points to 11% in FY21. This has happened as auction prices of tea have risen
Markets continues to engage very volatile trading, with US stocks and treasury yield staged strong rebounds overnight. Though, the moves are not totally followed by Mixed Asian markets. As for currencies, weakness in Australian and Canadian Dollars appear to be the more persistent near term theme. But Yen is not too far behind. Dollar is
Pres. Biden speaking Pres. Biden is currently speaking and says: Cost of inaction on stimulus is high, growing every day Return on investments in the economy have never been higher Notion is must act now on stimulus, no time for delay Stimulus won’t be drag on economy, will help it grow Comments are in line
Gold gained Rs 132 to Rs 48,376 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,244 per 10 gram. Silver also jumped Rs 2,915 to Rs 68,410 per kg, from Rs 65,495 per kg in the previous trade. “Ahead
Canadian Dollar rises broadly in early US session, with the help from better than expected GDP data. Euro is also firmer on German and French GDP data. While markets are back in risk-off mode, Yen, and to a lesser extent Dollar and Swiss Franc, turn softer. As for the week, Sterling and Kiwi are currently
China’s official PMIs are due on Sunday 31 January at 0100GMT. Manufacturing expected 51.5, prior 51.9 Non-manufacturing expected 55.0, prior 55.7 Composite prior 55.1 These will be followed in the new week by the unofficial, Caixin/Markit PMIs for January, manufacturing due on 1 February at 0145 GMT and Service & Composite on the 3rd at
NEW DELHI: Gold and silver futures prices in the domestic market traded with gains in the morning trade on Thursday, as low level buying pushed precious metals higher. Investors are awaiting any development on the stimulus front. While there is a buzz that the government may reduce duty on gold to raise demand in the