March 11: Gold prices inched down after hitting a more than one-week peak on Thursday, as elevated U.S. Treasury yields continued to remain a headwind for the precious metal. FUNDAMENTALS * Spot gold was down 0.1% to $1,725.17 per ounce by 0043 GMT, after hitting its highest since March 3 at $1,727.65 earlier in the
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As widely anticipated, the BOC left all monetary policy measures unchanged. While being more upbeat about the economic developments, the members noted that the policy rate will stay unchanged as least until inflation target of 2% is “sustainably” achieved. Meanwhile, they hinted of adjusting the size of asset purchases as the economy continues to improve.
The old high was $347.51 The record close in shares of GameStop was $347.51 last month and today after touching $348.50, it’s absolutely cratered down to $172. That was an obvious target in an extraordinary market. It’s been halted a few times on the way down. What an utterly insane market. Invest in yourself. See
Copper prices will surge to an all-time high over the next 12 months as a result of strong demand from China’s clean energy drive and years of under-investment in global mine supply, the chairman of Chinese metals trader Maike Group said on Wednesday. Benchmark prices for copper, widely used in power and construction, hit a
The markets are rather quiet so far today with slow news flow. Major currency pairs and crosses are stuck inside yesterday’s range, in consolidative trading. Other markets are also mixed, with some hope for DOW to hit new records, but other indices are weak. US consumer inflation data provides no special inspiration to traders. Focuses
The virus situation in Germany is holding thereabouts as of late Total active cases ease slightly to ~117,400 and that keeps with the trend since the end of February for the most part. At least the number of daily deaths is seen on the lower side for a typical weekday count, with total deaths rising
NEW DELHI: Gold and silver futures fell up to 0.7 per cent in Wednesday’strade, ahead of a vote on a $1.9 billion stimulus in the US. Gold futures for April delivery fell 0.25 per cent to Rs 44,744 per 10 grams. Silver futures for May delivery were trading at Rs 67,011 per kg, down 0.70
Macroeconomic developments have changed significantly since the January ECB meeting. One of the most prominent developments is the rise in inflation expectations and bond yields. As the ECB has pledged to maintain a accommodative monetary policy, it would be of great interest to the market as to how it is going to handle the unwarranted
The latest forecasts from the US Energy Information Administration The EIA sees US crude production at 12.02 mbpd in 2022 compared to its forecast of 11.53 mbpd a month ago. That’s a reaction to higher prices. This year’s production is less-sensitive at 11.15 mbpd vs 11.02 mbpd previously. On the comsumption side, EIA forecasts that
NEW DELHI: Gold in the national capital on Tuesday gained marginally by Rs 35 to Rs 43,996 per 10 gram amid gain in global precious metal prices, according to HDFC Securities. The precious metal had in the previous trade closed at Rs 43,961 per 10 gram. Silver also jumped Rs 553 to Rs 65,621 per
Dollar retreat broadly today as 10-year yield pares gain after failing to sustain above 1.6 handle again. NASDAQ is also set for a rebound while DOW might try to extend the record run. At the time of writing, Yen, Euro and Sterling are following as the next weakest. Australian Dollar is currently the strongest one,
The 7-day incidence rate is seen at 67.5 The virus trend in Germany is keeping thereabouts following the lower count yesterday due to lesser testing over the weekend. Total active cases is seen easing to ~117,700 but that keeps with the figures seen since the end of February. Meanwhile, total deaths have increased to 72,189
NEW DELHI: Gold and silver futures edged higher in Tuesday’s trade on optimism over a stimulus package passed by the US Senate. Gold futures for April delivery rose 0.30 per cent to Rs 44,351 per 10 grams. Silver futures for May delivery were trading at Rs 66,111 per kg, up 0.39 per cent. US Treasury
Dollar retreats mildly in Asian session today as overall market sentiments improved some what. Major Asian indices, except China, recovered notably, following DOW’s rally. But weakness in US tech is keeping upside capped. Selloff in Yen and Swiss Franc, and to a lesser extend Kiwi, is still the main theme, on resilience in global treasury
Atlanta Fed GDPNow forecast for Q1 growth The Atlanta Fed GDPNow forecast for Q1 growth was revised modestly higher. In their own words: The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2021 is 8.4 percent on March 8, up from 8.3 percent on March 5. After this morning’s wholesale trade report
NEW DELHI: Silver prices rose by Rs 593 to Rs 66,196 per kg in futures trade on Monday as participants widened their bets on a firm spot demand. On the Multi Commodity Exchange, silver contracts for May delivery gained Rs 593, or 0.9 per cent, to Rs 66,196 per kg in 12,170 lots. Analysts said
Dollar’s rally continues today but buying is mainly centered against Euro, Swiss Franc and Kiwi. Euro is getting no support from better than expected investor confidence data. Thanks to some resilience in crosses, Sterling is following as the second strongest for now. Commodity currencies are trading mildly softer but they’re generally holding above Friday’s low.
The lower count fits with the typical Monday effect, which is due to lesser testing over the weekend Total active cases across the country sits at ~122,300 and has been holding thereabouts since the latter stages of February. Total deaths have increased to 71,934 persons. The 7-day incidence rate remains on the highs side at