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Gold prices slipped on Wednesday, as the dollar resumed climb after Federal Reserve officials reiterated the U.S. central bank’s resolution to maintain an aggressive policy stance to tackle soaring inflation. FUNDAMENTALS * Spot gold was down 0.3% at $1,624.81 per ounce, as of 0132 GMT. * U.S. gold futures dipped 0.2% to $1,632.4. * The

Risk-off sentiment dominates Asian markets today, as the Chinese Yuan’s free fall accelerates. The steep depreciation could limit the room for the government to ease monetary policy further to help the economy that’s still troubled by pandemic measures. Yen and Dollar are currently the stronger ones in the currency markets, followed by Swiss Franc. Kiwi

The rule of thumb is that when something breaks the 61.8% retracement, it finishes the job. That’s a scary thought for AUD/USD but after five brutal days of selling in the past six days, it’s certainly not unthinkingable. What would have to happen to get there? Some combination of these things: Continued — and perhaps

New Delhi, Capital markets regulator Sebi on Tuesday came out with a new framework for daily price limit for commodity futures contracts in a bid to resolve the difference in closing price at domestic exchange and global bourse. The Daily Price Limits (DPLs) define the maximum range within which the price of a commodity futures

Dollar edges mildly higher after better than expected consumer confidence reading, but stays range bound. Overall, the forex markets are in consolidation mode. Sentiment appears to be supported as US stocks open higher, which European indexes are steady. One focus for the rest of the day is US 10-year yield’s reaction to 4% handle, and

The greenback is lower across the board as broader market sentiment is seen improving after yesterday’s events. The pound is up over 1% against the dollar today and that sounds good until you realise that it only sees cable trading to just above 1.0800 at the moment. This comes after the drop yesterday, with the

NEW DELHI: Gold prices moved marginally higher on Tuesday as the US dollar took a breather. That said, despite the rise, it languished near two-and-a-half-year lows amid rate hikes fears. The US Federal Reserve officials on Monday sloughed off rising volatility in global markets and said their priority remained controlling inflation. Gold futures on were

The currency markets have turned into consolidation mode temporarily. Sterling further stabilized after BoE said in a statement that the assessment of the government’s growth plan will be done at next “scheduled” meeting, ruling out an emergency meeting. Dollar is also taking a breather even though 10-year yield rose to the highest level since 2010.

After the FOMC decision, I said that thinking was “these morons are going to hike us into a recession” and that sentiment has certainly spread. At the same time, what happened in the UK is critical. The market reaction to deficit-funded tax cuts and writing a blank cheque for energy subsidies is just as important:

Gold prices in the national capital rose by Rs 138 to Rs 49,786 per 10 grams on Monday, according to Securities. In the previous trade, the precious metal had closed at Rs 49,648 per 10 grams. Silver also jumped by Rs 224 to Rs 56,514 per kilogram from Rs 56,290 per kg in the previous

Dollar is extending its broad-based rally today. But other positions are somewhat changing. Sterling is now recovering as traders take profit, while awaiting an unconfirmed statement from BoE. Euro is also paring some recent losses. Meanwhile, Swiss Franc, Yen and Canadian soften in general. Australian and New Zealand Dollar are mixed. Technically, while Sterling recovers,

The dollar continues to run hot in the new week as we carry over the same themes from last week. The most jarring move is seen in GBP/USD as the currency is down 3% on the day now to 1.0535, after having hit a low of 1.0357 earlier as the pound crashed hard following last

NEW DELHI: Gold prices were trading flat on Monday, after hitting a fresh two-and-half-year low, weighed down by a dollar following rate hikes by the US Fed in order to tame inflationary pressure. A downturn in business activity across the eurozone deepened in September, according to a survey which showed the economy was likely entering

Sterling’s free fall extends into Asian session today, even against the weak Euro which is pressured against all other major currencies. Dollar is currently the strongest one and would likely remain so for now. Yen, Swiss Franc and Canadian Dollar are also firm. Australian and New Zealand Dollar are mixed for now, but both are

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Globally, gold prices are languishing near a two-and-a-half-year low, weighed down by a rapid rise in global interest rates and a surging US dollar. The benchmark London gold has corrected by about 20 per cent from its March high when the Russian-Ukraine tensions shot up gold prices to near record peaks. Meanwhile, domestic prices are

The UK finance minister Kwerteng on the BBC is saying: His economic strategy is not a gamble Did not acknowledge that the UK was in recession and that one was not inevitable The GBPUSD and rates might say otherwise. UK 10 year yields rose to a high of 3.842% which was the highest level since

Base metals had an eventful week. The complex held up relatively well this week, despite several central banks hiking rates and the stronger dollar. The Fed hiked rates by 75 bps and offered hawkish future guidance. The sentiment was also hit by Moscow’s new mobilization campaign in its invasion of Ukraine. Earlier in the week,