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NEW DELHI: Gold declined by Rs 152 to Rs 48,107 per 10 gram in the national capital on Monday in line with weak global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,259 per 10 gram. Silver also tumbled Rs 540 to Rs 69,925 per kilogram from
The financial markets continue to be relatively mixed entering into US session. Aussie and Kiwi are currently the strongest one, together with Yen. On the other hand, Dollar and Euro are the weakest ones, together with Loonie. European indexes are trading mildly higher but upside is limited. Gold and oil are also struggling in tight
Don’t just read the bullet points One of the most underrated, but most valuable pieces of research you can do is to actually read central bank statements. Now I know the temptation. Go with the bullet points. You come to your desk and you see the latest central bank minutes with a few lines of
NEW DELHI: Globally, gold prices edged lower on Monday as an uptick in the dollar dented the metal’s appeal. although lower US bond yields and prospects of a prolonged accommodative interest rate environment limited losses. Spot gold was down 0.2 per cent at $1,886.76 per ounce as of 0308 GMT, after rising more than 1
Markets are mixed in a quiet Asian session today, with little reaction to China’s trade data. Dollar is consolidating last week’s late lost but there is no apparent momentum for a rebound. On the other hand, Yen is mildly higher on sluggish stock markets in the region. Gold is struggling below 1900 handle as the
The rise since April is mostly wiped out There is an opportunity in Colombia as negotiations continue with protestors. The temperature in the situation looks to be falling as road blocks diminish. There was even a large counter protest in Bogota this week. USD/COP jumped at the outset of the unrest but it’s now threatening
Oil is back on the boil after a small pause. In Mumbai, the price of petrol breached the Rs 101-a-litre mark at Rs 101.25 per litre. The fuel in the national capital crossed the Rs 95-per-litre mark. It is being sold for Rs 95.03 a litre, up from Rs 94.76 on Saturday. In Chennai and
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Big week for oil WTI settled up 81-cents to $69.62 today. That’s the highest settlement since 2018 and the intraday high of $69.76 was also the highest since then. On the week, oil gained nearly 5% despite continued concerns about coronavirus and OPEC+ offering no surprises. The tailwind appeared to be Iran with nuclear talks
MUMBAI: The National Commodity and Derivatives Exchange (NCDEX) on Saturday said it has posted an over three-fold jump in its Average Daily Turnover Value (ADTV) at Rs 2,139 crore in May, compared to the same month last year. In May 2020, NCDEX had posted an ADTV of Rs 588 crore after a complete pan-India lockdown
The latest PMIs reveal that China’s economic activities eased in May. The Caixin services PMI eased to 55.1 in May from 56.3 a month ago, while the manufacturing PMI increased marginally, by -0.1 point, to 52.The detailed report suggests that new business slowed which price pressures intensified. The situation applies not only to the services
Yields drop today US 10-year yields are down 6.6 bps to 1.56% today to the lows of the day and the week. A fractionally lower dip would be the lowest close since April 22. Clearly the market is growing less worried about a taper and runaway inflation, but the mood of this market can shift
By Navneet Damani Gold prices rose nearly 7 per cent in May, marking the second green candle for the year so far. The yellow metal traded with high volatility in the range of $1,765 to $1,913, and marked the highest level in four and half months. Similarly, silver also traded with high volatility and ranged
Dollar was in a pole position to end as the strong one but was the unfortunately knocked down by solid, but disappointing non-farm payroll report. The data did nothing to alter the base position of Fed officials that, it’s only time to talk about talking about tapering for now. Some more time is still needed
Forex news for North American trading on June 4, 2021 The US employment report showed a gain of 559K (with revisions of +27K) but that was not enough to satisfy those looking for tapering sooner rather than later. The expectations was for 675K (with the whisper levels likely higher than that given the tepid 266K – revised to 278K – last
NEW DELHI: Copper prices on Friday traded up by 0.07 per cent at Rs 734.70 per kg in the futures market on the back of a pick-up in the spot demand. On the Multi Commodity Exchange, copper contracts for delivery in June traded higher by 55 paise, or 0.07 per cent, at Rs 734.70 per
The report from the US Energy Information Administration (EIA) shows that total crude oil and petroleum products (ex. SPR) stocks added +1.92 mmb to 1277.85 mmb in the week ended May 28. Crude oil inventory sank -5.08 mmb (consensus: -2.44 mmb) to 479.27 mmb. Stockpile decreased in 3 out of 5 PADDs. PADD 3 (Gulf