Gold prices edged up on Thursday, as the eased and U.S. bond yields retreated from a three-week high, lifting bullion’s appeal. FUNDAMENTALS * Spot gold rose 0.1% to $1,869.45 per ounce by 0046 GMT, after hitting a fresh over five-month peak on Wednesday. U.S. gold futures gained 0.1% to $1,871.50. * The dollar fell 0.1%,
News
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -8.87 mmb to 1223.87 mmb in the week ended November 12. Crude oil inventory dropped -2.1 mmb to 433 mmb, compared with consensus of a +1.4 mmb increase. Inventory increased in 3 out of
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
New Delhi: Gold in the national capital on Wednesday declined by Rs 402 to Rs 48,116 per 10 gram, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,518 per 10 gram. Silver also dipped Rs 528 to Rs 65,218 per kilogram from Rs 65,746 per kilogram in the
Sterling jumps broadly today after much stronger than expected consumer inflation data, that raises the chance that BoE will “have to act” on interest rates soon. On the other hand, Canadian Dollar shrugs off strong, but inline with expectation CPI. Dollar is still among the strongest for the week, but it’s apparently taking a breather
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW YORK: Whether fuel pump prices fall in 2022 depends on two groups of producers who are struggling to increase oil output in the wake of the pandemic: OPEC and its allies and U.S. shale firms. The global oil industry’s slow response to the surging demand in 2021 has contributed to soaring energy costs and
RBA Governor Philip Lowe downplayed the likelihood of a rate hike next year at a speech today. Besides reiterating that Australian inflation has been less severe than other economies, he noted that inflation is the the only factor leading to a rate hike. Aussie dropped after his comments. Lowe noted that domestic inflation has been
The comments are in line with acting EIA head Nalley The House Majority Leader Hoyer is diverging from Senate Majority Leader Schumer who would like to see the strategic petroleum reserves tapped in an average lower gas prices. Hoyer is siding with the EIA acting head Nalley who today said that tapping the SPR would only have a short lived impact on oil markets. He is saying: Hee
The International Energy Agency (IEA) said Tuesday a reprieve from soaring oil prices may be on the horizon as output increases. Shortages of natural gas and coal have triggered a switch to oil, boosting demand for crude and fuelling a rise in prices. Last month, the IEA, which advises governments on energy policy, said oil
Sterling rises broadly today with help from solid job data, which eased the concerns over the impact of end of furlough scheme. Dollar is also firm as supported by better than expected retail sales sales. Euro is trying to digest some losses but stays weak on dovish ECB expectations. On the other hand, commodity currencies
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do
NEW DELHI: Gold prices held steady at their five-month peaks on Tuesday after a strong up move in the previous session. Concerns over broadening inflationary risks kept bullion’s safe-haven appeal intact in the face of a stronger US dollar and elevated bond yields. Gold futures on MCX were up by 0.12 per cent or Rs
The latest of data for October revealed fragility of China’s economic recovery. Although growth of both industrial production and retail sales beat consensus, the momentum appears weak. Property developments would continued to be hampered by government’s erratic change in policy and debt problems in the sector, hurting overall fixed asset investment in the months ahead.
Lael Brainard spoke with Biden last week. Granted it is a tweet promoting a segment on Fox Business, but Fox’s Charles Garparino is putting the odds of Fed Chair Powell at 50-50. The Biden administration along with several Democratic representatives have favored Mr. Powell for a second term. However there is also resistance resistance from some
New Delhi: Gold in the national capital on Monday dipped by Rs 82 to Rs 48,246 per 10 gram in line with weak international precious metal prices and a stronger rupee, according to HDFC Securities. In the previous trade, the precious metal had settled at Rs 48,328 per 10 gram. Silver also declined Rs 208
Australian Dollar leads other commodity currencies higher today, as supported by solid risk appetite. US futures indicate a much higher open and extended rally could push major indices to new record highs later this week. Dollar and Euro are currently the weakest ones for the day, followed by Yen. Sterling and Swiss Franc are mixed.
Arguments for and against from Bloomberg One of the strong arguments Bitcoin advocates have made is that Bitcoin provides a good hedge against inflation. However, what are the pros and cons of the argument. Last week a Bloomberg piece put up a few of these arguments and it is worth looking at them here. The