BENGALURU/MUMBAI: Chinese discounts for physical gold scaled yet another record peak versus global spot rates this week as the Covid-19 pandemic continued to choke retail appetite, with even a price dip failing to lure consumers in India. Gold has been sold at discounts in China, usually the world’s top bullion consumer, since February. Discounts widened
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It was a rather mixed week where there were conditions for a Dollar rebound, with surging treasury yield and correction in Gold. Yet, no apparent rally was seen. Yen was sold off generally, partly on coronavirus and recovery optimism. But the Swiss Franc was firm together with Euro. Strong rally in iron ore prices and
Forex news for North American trading on August 14, 2020. In other markets: Spot gold is down $8.90 or 0.46% $1944.86 Spot silver is down $1.02 or 3.73% $26.48 WTI crude oil futures are down $0.03 or -0.07% at $42.21 In the US debt market today, yields are ending the day mixed. The 30 year bond still has
NEW YORK: Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil
Markets are relatively steady in Asia today. Sentiment was somewhat weighed down by mixed data from China, but there is no apparently follow through selling. New Zealand Dollar continues to be pressured as the country extends coronavirus lockdown by 12 days. Australian Dollar seems to be benefiting from the selloff in Kiwi and it’s trading
Rising daily tally in the UK Cases up 570 compared to a week ago Deaths 11 vs 18 a day ago The UK is getting some attention today for requiring 14-day quarantines for visits to France. The takeaway is that people may spend more money at home. However if cases continue to rise, they may
NEW DELHI: Gold prices jumped Rs 730 to Rs 53,691 per 10 grams in the national capital on Friday amid the rupee depreciation, according to HDFC Securities. In the previous trade, gold had closed at Rs 52,961 per 10 grams. Silver also gained Rs 1,520 to Rs 70,500 per kg, from Rs 68,980 per kg
Trading in in the currency markets continue to be relatively subdued. Sterling is so far the strongest one for today. But it’s staying below near term resistance against Euro and Dollar so far. It’s also hovering below yesterday’s high against Yen. Yen appears to be recovery, in particular against Dollar. But any extension in treasury
The foreword to Michael Cohen’s book on Trump is available here, its an interesting read. A post for once the markets are closed for the weekend. Cohen pulls no punches: I bore witness to the real man, in strip clubs, shady business meetings, and in the unguarded moments when he revealed who he really was:
NEW DELHI: Gold and silver prices witnessed dramatic swings this week, thanks to huge demand followed by a bout of profit booking, and this has kept bullion traders on their toes. Analysts are at a loss trying to predict where these precious metals are headed. Gold futures hit a record high at the start of
European majors turn slightly stronger today, in mixed markets. Euro appears to be supported by news that US is refraining from tariffs hikes on Airbus subsidies retaliation. Though, except versus Yen, Euro’s strength is not too convincing yet. Dollar turns soft again following strong rally in US stocks overnight. But surprisingly, commodity currencies are not
Expectations were for a $23 billion auction As the treasury auctions continue at an increasing pace, the US treasury has a announced that they will auction off $25 billion of 20 year bonds next week. That was higher than the 23 billion expected. Later today the treasury will complete their refunding for the week with the
By Swansy AfonsoThe biggest drop in gold prices in nearly seven years wasn’t enough to pull Indian buyers back to stores and they are likely to stay on the sidelines as volatility increases. Domestic gold prices fell by the most since October 2013 on Tuesday, capping this year’s rally at 33%. Gold has recouped some
Dollar continues to trade with a soft tone despite better than expected jobless claims data. The decline in claims data is seen more as a result of expiration USD 600 a week supplemental federal benefits, rather than the improvement in the labor market conditions. For now, though, New Zealand Dollar and Yen are the worst
Forex news for Asia trading Thursday 13 August 2020 Sellers of US dollars prevailed during the session here as currencies gained pretty much across the board. Even gold managed to head back up towards its US-time high. News flow was light, we did get comments from US Treasury Secretary Mnuchin that strongly indicated the two
Gold prices rose on Thursday, holding firm above the key $1900 per ounce level, as a weaker US dollar and concerns over the global economic recovery from the mounting COVID-19 cases boosted demand for the safe-haven metal. FUNDAMENTALS Spot gold was up 0.7% at $1,930.78 per ounce by 0034 GMT. US gold futures eased 0.5%
New Zealand Dollar tumbles broadly today as weighed down by double-whammy of RBNZ QE expansion and return to lockdown. The selloff in Kiwi is somewhat dragging down Aussie and Canadian too. On the other hand, Dollar is staging a strong rebound, with help from much steeper than expected correction in Gold price. The strong rebound
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