New Delhi: Gold prices in the national capital on Wednesday jumped Rs 435 to Rs 52,941 per 10 grams, reflecting a rally in international precious metal prices and rupee depreciation, according to HDFC Securities. In the previous trade, the yellow metal finished at Rs 52,506 per 10 grams. Silver also zoomed by Rs 1,331 to
Dollar is trading broadly higher today, with help by upside breakout against Yen. The greenback on remains firm after record PPI reading. Sterling is currently the second strongest, followed by Euro. On the other hand, New Zealand Dollar is trading as the worst performing, even after RBNZ’s 50bps hike. Kiwi followed by Aussie and and
A motorist pumps gas at a Valero station along Encinitas Blvd in Encinitas, CA on Tuesday, April 5, 2022. Sandy Huffaker | The Washington Post | Getty Images Worries are increasing over inflation, with new Federal Reserve data showing a record-high fear over surging prices. Consumers now see inflation hitting 6.6% over the next year,
A pedestrian walks by a Bed Bath and Beyond store on November 04, 2021 in Larkspur, California. Justin Sullivan | Getty Images Bed Bath and Beyond on Wednesday reported a surprising holiday-quarter loss, as the company ran low on inventory and struggled to move merchandise out of congested ports and onto shelves. Shares of the
A positive market mood, falling US bond yields, and a weaker buck, a tailwind for precious metals and commodities. Hotter than expected, US PPI inflation reinforces a 50-bps increase by the Fed. Silver Price Forecast (XAG/USD): Remains upward biased, and a daily close above $25.85 would open the door for bulls towards $26.00 Silver (XAG/USD)
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Bitcoin (BTC) is keeping traders on the edge of their seat this week as support levels come close to breaking. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Traders line up targets below $40,000 Data from Cointelegraph Markets Pro and TradingView shows that lines in the sand below $40,000 barely remain intact after multiple retests. The
Today’s candle on the Nasdaq chart is not a pretty one. It tried to fill the gap at the start of the week, failed and is now significantly lower on the day; down 0.5%. That’s down 2.6% from the highs today. There’s still a bit of time left but it’s looking like an ugly outside
The RBNZ hiked its OCR by 50 bps earlier in the day, bringing that to 1.50% in a supposedly more hawkish move. But yet, the kiwi has fallen down by 0.9% now against the dollar to below 0.6800 after an initial jump to 0.6900. What gives? Let’s take stock of the situation. For one, local
NEW DELHI: Gold prices were trading almost flat on Wednesday, after sharp gains in the previous session, as a firm US dollar capped the bullion’s upside. Weak treasury yields after US inflation data and concerns over the Ukraine conflict, meanwhile, supported the buying in the yellow metal. Gold futures on MCX dipped 0.11 per cent
The forex markets trade in tight range in Asian session today. New Zealand Dollar got little support from the RBNZ 50bps rate hike. It’s actually trading as the weakest one for the day at the time of writing. As for the week, Swiss Franc is currently the strongest, with help from buying against Euro. Dollar
A customer selects food from a freezer at a supermarket on January 12, 2022 in New York City. Liao Pan | China News Service | Getty Images Consumer price inflation in March is expected to have risen the most since December 1981, driven by higher food costs, rising rents and runaway energy prices. The consumer
Sanctions on Russia are seen as accelerating a dramatic shift towards a new global commodity-focused ‘Bretton Woods 3’ architecture. In the view of economists at Rabobank, the opportunity to shift global trade flows away from USD to others is limited – fundamentally, neither CNY nor commodity currencies are set up to rival USD globally. ‘Bretton
USDCAD moves back above its 200 day moving average The USDCAD tumbles below the 200 day MA after the CPI data in the US today. The fall earlier in the North American session took the price to the 100 hour MA (blue line), however, buyers slowed the fall and bounced the pair higher. The retracement
The three major US stock indices are closing lower on the day after giving up a solid gains. The NASDAQ index was up over 2% at its highs. The S&P index was up 1.34%. The NASDAQ and S&P are closing lower for the third consecutive day The small-cap Russell 2000 index did eek out a
LONDON – OPEC on Tuesday cut its forecast for growth in world oil demand in 2022 citing the impact of Russia’s invasion of Ukraine, rising inflation as crude prices soar and the resurgence of the Omicron coronavirus variant in China. In a monthly report, the Organization of the Petroleum Exporting Countries (OPEC) said world demand
Dollar drops in early US session together with treasury yields after consumer inflation data. While headline CPI came in higher than expected, core CPI’s pick up missed expectations. Commodity currencies are trading generally higher as US futures point to a rebound in major stock indexes. European majors are also attempting a recovery but momentum is