Gold in the national capital on Monday declined by Rs 114 to Rs 50,561 per 10 grams amid decline in international precious metal prices, according to Securities. In the previous trade, the yellow metal settled at Rs 50,675 per 10 grams. Silver also declined by Rs 136 to Rs 56,760 per kg from Rs 56,896
Dollar’s rally is accelerating as markets enter into US session. Swiss Franc and Canadian are following the greenback. But Australian Dollar is the worst, together with New Zealand Dollar. But Yen is also weak, with little help from risk off sentiment. Euro is mixed even though a market inflation gauge, the five-year, five-year forward inflation
The white metal remains downward biased but appears to have found a base around $19.00. Safe-haven flows toward the greenback, and US Treasuries keep the precious metals complex under pressure. The US 2s-10s yield curve is still inverted, flagging recession fears. Silver (XAGUSD) is subdued during the North American session, seesawing for the fourth consecutive
This is a follow-up to yesterday’s Bitcoin technical analysis and trade idea to short BTCUSD at $21300 A trader taking that ForexLive.com trading idea would be very profitable now. Taking into consideration the leverage in crypto trading, which is typically between 5:1 to 20:1 — as such, the trader would be now with a 20%
For the past few weeks, buyers have struggled to really clear a break above the 135.00 mark with the highs capped around the region of 136.70 to 137.00. The latest attempt today may also fall short but buyers are at least continuing to keep more poised and knocking on the door of a push higher
NEW DELHI: Gold prices were trading flat, almost unchanged, on Monday as the firm US dollar dented the appeal for the yellow metal. The bullion was pinned near a nine-month low seen last week. Gold marked a fourth straight weekly loss on Friday, having hit its lowest since late September a few sessions prior, hurt
Yen’s selloff resumes in Asian session with USD/JPY making new recent high. The ruling coalition of Liberal Democratic Party and its junior partner Komeito scored a strong victory in Japan’s upper house elections. There might be sympathetic votes for the tragic death of former Prime Minister Shinzo Abe. But it’s also seen as a nod
USD/JPY caught aggressive bids on Monday and rallied to a fresh 24-year peak. The Fed-BoJ policy divergence remained supportive of the strong positive move. The risk-off mood offered some support to the safe-haven JPY and capped gains. The USD/JPY pair now seems to have entered a bullish consolidation phase and was seen oscillating in a
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The Ethereum (ETH) network moved one step closer to completing its transition to proof-of-stake (PoS) this week after the successful completion of its second-to-last major Merge trial on the Sepolia public test network. Data from Cointelegraph Markets Pro and TradingView shows that following the Sepolia Merge on July 6, the price of Ether rallied to a
GBPUSD trades above and below the 100 hour MA The GBPUSD has had a volatile up and down and back up and back down session. The price is still lower on the day and really trades below its 100 hour moving average at 1.19965. Looking at the hourly chart recall from yesterday near the end
The Federal Reserve surely hasn’t finished hiking rates and there’s no sign of a pivot towards anything more-dovish but there’s a chance we’ve already seen the bottom for risk assets. It all hinges on bond yields.The market is forward-looking and there’s no market more in tune with the Fed and inflation outlook than bonds. Lately,
Central banks around the world are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while mass Covid-19 testing in Shanghai this week caused worries about potential lockdowns that could also hit oil demand. Brent posted a weekly decline of about 4.1 per cent and WTI a loss of
EUR/USD bulls could be about to make their move. Traders are watching the US dollar for the start of the week and opening sessions. The euro could benefit at the start of the week so long as the greenback continues to correct to the downside. In the charts below, it is illustrated that the DXY
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USDCAD trades between its 100 and 200 hour moving averages The USDCAD moved higher after the US jobs report came in better than expected while the Canada jobs report was weaker than expected. The price of the pair extended to 1.3034 on the spike higher but has since rotated back lower and is trading to
Prior -0.2% m/m CPI 2.5% y/y vs 2.4% expected Prior y/y 2.1% PPI +6.1% vs +6.0% expected Prior PPI +6.4% y/y China is in a good position to add some stimulus as inflation runs lower than most parts of the world. That’s exactly what reports suggest they do as 2023 infrastructure spending may be pulled
It was a dismal week for commodities as most of them recorded multi-month lows amid growth worries and firmness in the US dollar. Gold was not left out as it fell 3.8 per cent marking its fourth weekly decline and tested the lowest level since September 2021. Gold, a safe haven, an inflation hedge, and