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NEW DELHI: Gold prices tanked sharply on Thursday, weighed down by a firm dollar and rising bond yield. The prospects of the US Federal Reserve continuing with its aggressive policy tightening stance dented the zero-yielding bullion’s appeal. Gold futures on were trading lower as they dropped 0.41 per cent or Rs 206 at Rs 50,208

Dollar is back in control in Asian session, with some help from risk averse sentiment. Euro is staying firm against Sterling and Swiss Franc, and is picking up upside momentum against commodity currencies. In particular, Aussie is sold off on poor manufacturing data from both Australia and China. Yen is also weak along with renewed

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West Texas Intermediate fell as much as $4.09 a barrel from high to low on Wednesday, putting it on course for a monthly decline of about 10%. Europe is gripped by an energy crisis that may herald a recession while in Asia, growth has slowed in China, the top world’s oil importer. “Consumption of crude

Euro is extending near term rally against Swiss Franc and Sterling after even higher than expected record inflation. But it’s struggling to gain against most other currencies. Dollar is also sluggish after ADP employment disappointment, while Yen’s is recovering. Commodity currencies are mixed for now. It seems like traders would continue to hold their bets

In case you’re wondering what the situation is like in China, things haven’t drastically changed as the country is still sticking with its ‘dynamic COVID zero’ policy. The city of Guangzhou is the latest to step up restrictions today after five locally transmitted cases were reported, with local authorities ordering certain areas in one district

Gold languished near a one-month low on Wednesday and was set for a fifth consecutive monthly drop, as solid U.S. data and hawkish Federal Reserve comments pointing to higher interest rates dented the non-yielding metal’s appeal. FUNDAMENTALS * Spot gold was flat at $1,723.28 per ounce, as of 0109 GMT, trading close to a one-month

Euro is staying as the strongest one for the week, as supported by a chorus of ECB hawks. Markets are starting to price in a 75bps rate hike by ECB next week. For now, the strength in Euro is most apparently only against Sterling, Swiss Franc and Yen. It’s kept well in range against Dollar.

The major US stock indices are closing lower for the 3rd consecutive day. Declines in the indices are marginally above and below 1% . All 11 sectors of the S&P index fell. Only American Express and J.P. Morgan close higher in the Dow 30. The S&P index closed back below the $4000 level for the

Oil prices fell more than $7 a barrel on Tuesday, the steepest decline in about a month, on fears that an inflation-induced weakening of global economies would soften fuel demand and as unrest in Iraq has failed to put a dent in the OPEC nation’s crude exports. Brent crude futures for October settlement were down

Euro is trying to extend recent rally, but the gains also so far concentrated against Sterling and Swiss Franc. Persistent flow of hawkish comments from ECB official is support the common currency nevertheless. Australian Dollar and Yen are currently the stronger ones for the day. The Pound, Franc and Dollar are the weaker ones. Technically,

The dollar is softer on the day now as we are seeing major currencies climb higher against the greenback. This comes as equities are gaining some ground, as some of the post-Jackson Hole moves are locking up and turning the other way. EUR/USD just a hit a high of 1.0030 after hanging around parity with

NEW DELHI: Gold prices in the domestic market traded lower, bucking the global trend, thanks to a weaker rupee. However, the weakness in the dollar curbed the losses. The dollar index was off a two-decade high hit on Monday, while the benchmark 10-year yields pulled back from a two-month high hit in the previous session.

The markets are generally quiet in Asian session today. Euro surged notably yesterday as traders raised their bets on ECB rate hike next week, with some expecting a 75bps increase. But there is no clear follow through buying for now. While Dollar is paring some recent gains, loss is also limited. For now, Sterling, Swiss

The major US indices are opening lower with the major indices down about -0.8% A snapshot of the market currently shows: Dow industrial average -258 points or -0.8% at 32025.36 S&P index -30.29 points or -0.75% at 4027.37 NASDAQ index -98.29 points or my 0.1% at 12043.42 Russell 2000-18.96 points or -1.0% at 1880.87 Looking

Gold price in the national capital fell Rs 365 to Rs 51,385 per 10 grams on Monday reflecting a decline in international precious metal prices along with rupee depreciation, according to HDFC Securities. The yellow metal had closed at Rs 51,750 per 10 grams in the previous trade. Silver also plunged by Rs 1,027 to

Euro is staging a strong come back today, as supported by hawkish comments from ECB officials over the weekend. In short, a 50bps rate hike looks like that base case for ECB meeting next week, with some possibility of a 75bps hike. Dollar is reversing some gains in spite of risk-off sentiment. The clearer trend

It’s been a rather straightforward one after Jackson Hole as the Fed’s resolute commitment to fighting inflation is sending the dollar soaring in the aftermath. The theme is carrying over to today with the greenback surging across the board once again. EUR/USD is down 0.4% to 0.9915 while USD/JPY is up over 1% to hit