Month: November 2020

Gold prices rose by Rs 45 to Rs 48,273 per 10 gram in the national capital on Wednesday following a recovery in the precious metal in the global markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,228 per 10 gram. Silver also gained Rs 407 to trade

Rating agency ICRA on Wednesday said that palm oil prices in the near term would remain elevated and would largely depend on the outcome of La Nina weather pattern in Southeast nations. Palm oil is mainly consumed in food industries such as bakery products and HoReCa (hotels, restaurants and catering) segment, while household consumption remains

Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent crude was up 74 cents, or 1.5%, at $48.60 a barrel by 1059 GMT, having

Pune: The soybean processing industry has urged the government to continue with the current import duty structure because speculation about an impending cut on the levy on edible oils has made the market volatile. “Rumours of duty cut on import of are causing volatility in oilseed prices. The edible oil market has been very volatile

KOLKATA: India’s appetite for gold has got a fresh boost with prices declining to Rs 48,800 per 10 gm on Wednesday. Demand for the yellow metal has picked up both in urban and rural India from Tuesday, when gold prices fell after a steep rise for almost four months, giving a fillip to the wedding

Gold regained momentum on Wednesday following a sharp slide toward the $1,800 pivot in the previous sessions, as an unexpected rise in U.S. jobless claims tempered some of the COVID-19 vaccine-led optimism on Wall Street. Spot gold rose 0.3% to $1,812.66 an ounce at 10:15 a.m. EST (1515 GMT), having hit its lowest since July

The market has been thrilled amid signs of progress in the EU-UK deal. Last week, EU Commission president Ursula von der Leyen noted that there was “more movement” on the negotiations “difficult weeks with very, very slow progress”. Yet, she warned that there were “some metres to the finish line” to reach agreement. The major

Commodity currencies surge broadly today on the back of strong risk appetite, especially in Japan. New Zealand Dollar is additionally boosted after the government asked RBNZ to considering surging house prices in monetary policy moves. Dollar tried to rebound overnight, with the help from downside breakout in Gold. The greenback then lost momentum in Asia,

Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo’s data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar dropped notably earlier today but there is no clear follow through selling so far. The

Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break through 1800 psychological support with next

While vaccine news should be bullish for the oil market, the rally in crude oil price proves short lived. Ahead of next week’s meeting to decide extension of output cuts, a long-term OPEC member, the UAE, reportedly has shown discontent about the output cut deal. There are rumors that the third largest OPEC producer has

Dollar’s sell-off slowed mildly as stocks turned into consolidation ahead of Thanksgiving holiday in the US. But for now, the greenback remains the second worst performing for the week, just next to Yen, followed by Swiss Franc. Commodity currencies are strongest together with Sterling. Mixed economic data from US provided little inspirations to investors. It’s