BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
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Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week’s range, except versus Kiwi. Euro, and Swiss Franc are the next weakest.
Forex news for New York trading on November 20, 2020: Markets: Gold up $4 to $1870 US 10-year yields down 0.5 bps to 0.82% WTI crude oil up 41-cents to $42.15 S&P 500 down 24 points to 3557 NZD leads, CAD lags The tone overnight was poor on the Fed-Treasury fight over emergency money, along
Oil prices firmed on Friday, and were on track for a third consecutive weekly rise, buoyed by successful COVID-19 vaccine trials, while renewed lockdowns in several countries to limit the spread of the coronavirus capped gains. Prospects for effective COVID-19 vaccines and hopes OPEC and its allies will keep production in check have bolstered oil
Consolidative trading continue as Dollar rises in general in Asian session together, followed by Swiss Franc. On the the other hand, Sterling is reversing some of this week’s gains together with Aussie and Kiwi. News on coronavirus vaccines are unable to give investor sentiments further lift. Instead, concerns are growing on more new cases and
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Gold was headed for a second weekly decline on Friday on growing optimism about COVID-19 vaccines, with the U.S. Treasury’s call to end emergency loan programmes also limiting bullion’s safe-haven appeal. Spot gold eased 0.1% at $1,866.38 per ounce by 1227 GMT and was down 1.2% for the week. U.S. gold futures were up 0.1%
Dollar would probably end as the worst performing for the week, followed by Yen and Swiss Franc. But they’re generally staying familiar range, like other major pairs and crosses. Investors are struggling to decide on a direction, despite the news of vaccines, or the split between US treasury and Fed. The slow progress of Brexit
Tepid tones as we get things going on the session Eurostoxx -0.2% Germany DAX -0.2% France CAC 40 -0.2% UK FTSE -0.1% Spain IBEX flat A bit more of a cautious start to the day as the market is still debating the virus versus vaccine theme in the bigger picture. US stimulus talks may restart
NEW DELHI: Gold and silver futures for December delivery rose on Friday amid weak US jobs data and concerns over rising Covid cases. Gold futures on MCX advanced 0.12 per cent to Rs 50,050 per 10 grams. Gold prices are off recent highs of Rs 56,379. Silver futures for December delivery were trading 0.44 per
Consolidation trading continues with US stocks closing mildly higher overnight while Asian markets are mixed. Gold also lost some downside momentum just ahead of 1850 key support level. In the forex markets, range trading continues in general with Aussie and Sterling gaining some grounds today. Yen and Canadian are the softer ones. Markets are still
Credit Suisse on the yen Credit Suisse technical analysts see a scope for a USD/JPY move towards 101.59/18 on a sustained break below 104. “The market now attempting to remove again the key 104.02/00 price pivot. We look for a clear and sustained break to reinforce thoughts of a more important downturn with support next
By John KempU.S. petroleum inventories are falling towards more normal levels as the glut earlier this year caused by volume warfare among OPEC+ members and the first wave of epidemic-driven lockdowns is gradually absorbed. Falling inventories are likely to herald a tighter production-consumption balance and a cyclical upswing in both spot prices and calendar spreads
Dollar rises mildly today despite the first rise in initial jobless claims in five weeks. Euro and Swiss Fran are following closely. Global markets are still engaging in consolidative trading, with mild weakness in European equities and US futures. Australian Dollar is leading New Zealand Dollar lower. Still, there is no clear development in the
Daily thread to exchange ideas and to share your thoughts Bend but don’t break. The dollar continues to hold its ground after running into a test near key technical levels in trading yesterday. Meanwhile, risk buyers saw the latest round of vaccine optimism fade rather quickly with US stocks slumping towards the close. EUR/USD backed away after
NEW DELHI: Gold and silver futures for December delivery fell on Thursday on reduced safe haven appeal, as hopes of a Covid vaccine outweighed concerns over a short-term lockdown globally. Gold futures on MCX were down 0.28 per cent at Rs 50,185 per 10 grams. Gold prices are off recent highs of Rs 56,379. Silver
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks plunged -10.16 mmb to 1354.91 mmb in the week ended November 13. Crude oil inventory gained +0.77 mmb (consensus: +1.65 mmb) to 489.48 mmb. Stockpile increased in 3 out of 5 PADDs. However, PADD5 (West
US treasury auctions off 27 billion year bonds high yield 1.422% vs. WI 1.413% bid to cover 2.27x vs. six-month average of 2.44x dealers 23.49% vs. six-month average of 23.2% directs 15.3% vs. six-month average of 14.2% Indirects 61.2% vs. six-month average of 62.6% overall the tail of nearly 1 basis point and the light bid to cover suggests there was some light interest in the