Gold prices inched lower on Thursday as the U.S. dollar firmed after minutes of the Federal Reserve‘s March meeting indicated an aggressive stance to combat inflation, denting the safe-haven metal‘s appeal. FUNDAMENTALS * Spot gold was down 0.2% at $1,922.08 per ounce by 0125 GMT. U.S. gold futures rose 0.2% to $1,926.10. * The dollar
NEW DELHI: Domestic gold prices were trading flat on Thursday as a strong US dollar following hawkish US Fed minutes dented demand for the yellow metal. Gold futures on MCX were down 0.03 per cent or Rs 15 down at Rs 51,611 per 10 grams. Silver futures were trading higher by 0.04 per cent or
New Delhi: Gold prices on Thursday rose by Rs 42 to Rs 51,638 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand. On the Multi Commodity Exchange, gold contracts for June delivery traded higher by Rs 42 or 0.08 per cent to Rs 51,638 per 10 grams in
India may find it difficult to grow faster than 8% in FY23 if crude prices persist at the current level for too long, the finance ministry said on Thursday, warning the Russia-Ukraine conflict poses an upside risk to inflation as well. The government is exploring all viable options, including import diversification, to procure crude at
NEW DELHI: Gold prices dropped during early trade on Friday as a stronger US dollar dimmed down the demand for safe-haven metal. A stronger US dollar makes gold less attractive for other currency holders. However, gold is being supported by the Ukraine uncertainty, rapid inflation, and the still persistent COVID-19 pandemic. Gold futures on MCX
For India’s fuel consumers, reprieve continues for the third straight day as petrol and diesel prices remained unchanged. Since March 22, fuel prices have seen a Rs 10 a litre jump after 14 revisions. Petrol in Delhi retails at Rs 105.41 per litre, while diesel is Rs 95.87 per litre to Rs 96.67. In Mumbai,
Euro falls broadly today on expectation that EU is going to impose another round of sanctions against Russian following war crimes in Ukraine. Additionally, investor confidence data indicates the war in Ukraine is pushing Eurozone into recession. Sterling and Swiss Franc are broadly weak too. Commodity currencies are currently the stronger ones while Dollar and
Australian Dollar rises broadly after a hawkish twist in RBA statement, which hints at earlier rate hike. New Zealand Dollar is following closely as second strongest for now. On the other hand, Dollar and Euro are under some selling pressure. Yen and Swiss Franc are mixed, awaiting more guidance from overall risk sentiment. Technically, focus
Euro is trading broadly lower today, as EU announces the fifth package of sanctions against Russia. As European Commission President Ursula von der Leyen said, “Russia is waging a cruel, ruthless war, also against Ukraine’s civilian population.” The sanctions include ban of Russia coals, access to EU ports and transaction banks of four key Russian
Dollar trades broadly higher overnight together with treasury yields on hawkish comments from Fed officials. The green back remains firm in Asian session today. Though, Aussie remains the strongest one for the week so far, followed by Kiwi. Euro is the worst performing one, followed by Yen and then Swiss Franc. Technically, EUR/USD’s break of
Swiss Franc falls broadly today as other parts of the markets turned mixed. US treasury yield extends its sharp rally. But the impact on Dollar is some what offset by impressive rally in Germany and UK yields too. Euro recovers mildly but remains the worst performing one for the week, followed by Yen, and then
Markets are clearly in some risk aversion actions after Fed laid out the balance sheet runoff plan. Nikkei is leading other Asian stocks lower, after US indexes tumbled overnight. Australian Dollar is dragged down by the sentiment, followed by Kiwi and Loonie. On the other hand, Euro is recovering mildly for today. But for the
Dollar remains generally firm entering into US session, even though upside momentum is diminishing slightly against European majors.Meanwhile weakness in commodity currencies persists, with Aussie being the worst one. Yen is mixed for now but should remain vulnerable on exceptional strength in global benchmark treasury yields. Technically, focuses firstly stays on commodity-dollar pairs. In particular,
Overall, the markets are rather steady so far in the last trading day of the week. Major Asian indexes are treading water. That followed a late rebound in US markets overnight. Euro weakens mildly and remains the worst performer for the week, followed by Yen and Swiss Franc. Dollar is still the strongest one, support
Canadian Dollar rises slightly after solid job data, but Dollar is also firm. The greenback is on track to end as the strongest one for the week, with help from extended rally in treasury yields. On the other hand, Sterling is under some selling pressures but Euro is still the worst performing one. Aussie is
Dollar was initially mixed last week but buyers jumped in after FOMC minutes revealed the quantitative tightening plan. US benchmark treasury yields also surged to highest level since 2019. Both Canadian and Australian Dollars followed as second and third strongest. Aussie was boosted by RBA’s hints on earlier rate hike while Loonie was supported by
San Francisco Federal Reserve Bank chief of research Mary Daly stands near the podium before a speech at the CFA Society in San Francisco, California, U.S. July 10 2018. Ann Saphir | Reuters San Francisco Fed President Mary Daly is worried about inflation, telling an audience Tuesday that the high cost of living is causing
The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, January 26, 2022. Joshua Roberts | Reuters If there was any question about where the Federal Reserve stands on the key issue of the day