Gold prices edged lower on Tuesday as a stronger dollar crimped bullion’s appeal ahead of US inflation data that could offer cues on the possible timeline for the Federal Reserve‘s tapering. FUNDAMENTALSSpot gold fell 0.2% to $1,790.74 per ounce by 0138 GMT. US gold futures eased 0.1% to $1,792.10. The dollar index was steady after
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Commodity currencies came back to live entering into US session, with help from broad based rally in European indexes and US futures. Canadian Dollar is also lifted as WTI oil price recaptures 70 handle. Dollar turned mixed for now as selling turns to Swiss Franc, Euro and Yen. With an empty economic calendar for the
It’s not about the absolute level of inventories Henry Hub natural gas prices are up another 4.3% today to $5.15, which is a fresh 8-year high and a 14-year high for this time of year. The bears point to absolute inventory levels as a reason not to worry about a spike higher in prices. They’re
New Delhi: Gold in the national capital on Monday rose by Rs 82 to Rs 45,952 per 10 gram in line with the firm global trends and rupee depreciation, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 45,870 per 10 gram. “Spot gold prices for 24 carat in
Dollar rebound continues in Asian session today and trades generally high. Weakness in more notable in Aussie and Euro, as both turn soft in crosses. Overall risk sentiment is slightly negative, with particular deep selloff in Hong Kong stocks, but Nikkei remains resilient. The economic calendar is very light today and movements in the 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
Gold prices were subdued on Monday as the dollar held firm, while cautious investors awaited readings on US consumer prices due this week that could be crucial to Federal Reserve’s decision on when to exit its super-supportive policy. FUNDAMENTALSSpot gold was flat at $1,787.40 per ounce, as of 0114 GMT, after having recorded a weekly
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A few items over the weekend for oil & energy traders to take note of. Reuters on German Chancellor Angela Merkel, tried to soothe fears over the Nord Stream 2 gas pipeline on Saturday: “I made clear that it is our concern that Ukraine will remain a transit land for Russian gas” Merkel said during
CNG and piped cooking gas prices in cities such as Delhi and Mumbai may be hiked by 10-11 per cent next month as the government-dictated gas price is set to rise by about 76 per cent, ICICI Securities said in a report. The government, using rates prevalent in gas-surplus nations, fixes the price of natural
Commodity currencies are trading generally lower in Asia today, with pull back in Japanese stocks in the background. Canadian Dollar is also soft after BoC’s rate decision overnight. Dollar, Yen and Swiss Franc are trading mildly firmer, extending this week’s rebound. Euro is following closely, but momentum is starting to diminish, as focus turns to
Two important messages delivered at the ECB meetings are: 1) the end of the front-loading of PEPP asset purchases and 2) acknowledgement of a more persistent inflation pressure. The policy rates were all kept unchanged with the main refi rate, the marginal lending rate and the deposit rate staying at 0%, 0.25% and -0.5% respectively.
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
Saturday saw the pause in fuel price revision extending to the sixth day on run as oil companies continued to keep the pause button pressed on retail rates. In Delhi, petrol retailed at Rs 101.19 a litre on Saturday. The prices of petrol in Mumbai, Chennai and Kolkata stood unchanged at Rs 107.26, Rs 98.96,
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
The government has reduced import duty on edible oils in order to provide respite to consumers amid rising food prices ahead of the consumption-driven festive season. The Central Board of Indirect Taxes and Customs (CBIC) issued a notification to the effect, “on being satisfied that it is necessary in the public interest to do so.”
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks sank -10.39 mmb to 1233.43 mmb in the week ended September 3. Crude oil inventory declined for a 8 consecutive week, down -1.53 mmb (consensus: -4.61 mmb) to 423.87 mmb. Stockpile fell in PADD 3,
20 years ago suddenly things changed Tomorrow is the 20th anniversary of September 11, 2001. That day saw a plane crash into the Pentagon, another crash in Shanksville Pennsylvania presumably before reaching its intended target at the Washington Capitals or White House. However, it was the two planes that crashed into the World Trade Center