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By Ranjeetha Pakiam Gold traded near an eight-week high as a surge in global coronavirus cases and curbs stoked demand for the haven, which has been supported by lower US real yields, a weaker dollar, and slumping equities. Bullion has made a strong start to the new year, with the variant strain of the coronavirus
Sterling is currently trading as one of the weakest, as weighed down by the return to tough nationwide lockdown. Selloff in the Pound in crosses is keeping Euro and Swiss Franc afloat. Dollar attempted a rebound overnight, with the pull back in stocks. But there is apparently no follow through buying in the greenback yet.
Add the OPEC decision into the mix The trading year started off with some unexpected drama as equities were slammed and early weakness in the US dollar evaporated. The day ahead will feature even more for market participants to think about, especially with the OPEC meeting slated for a second day. Given that the meeting
Oil prices touched multi-month highs on Monday on expectations OPEC and allied producers may cap output at current levels in February and on hopes that coronavirus vaccines may help curb the spread of the virus and drive a strong economic rebound in the new year. Prices rose in line with broader financial markets with Brent
Dollar’s selloff intensifies somewhat today, with solid risk appetite in the background. Though, Sterling is slightly weaker entering into US session. On the other hand, Euro and Swiss Franc are the strongest for now. Commodity currencies are also struggling to pick up buying despite rally in oil prices and Gold. Nevertheless, a busy week with
Control of the Senate is at stake While we are all trying to get back into the rhythm of things, just be reminded that there is a key risk event to look forward to this week that could potentially give investors some reason to be a little more shifty. The Georgia runoff elections will take
NEW DELHI: Gold and silver futures prices in the domestic market traded with gains on Monday as covid-19 cases continued to surge forcing many countries to mull tougher restrictions. Global coronavirus cases continued to climb, with British Prime Minister Boris Johnson hinting at tougher lockdown restrictions, while Japan considered declaring a state of emergency for
Dollar trades generally lower today as Asian markets ex-Japan open the year on strong footing. Investors are generally riding on optimism of vaccine rollouts and an eventual sustainable global recovery. Though, for the short term, Japan is facing risk of more lookdowns while coronavirus infections in the US could still surge again. The forex markets
Nickel prices rose by 0.59 per cent to Rs 1,219.40 per kg in futures trade on Friday as speculators built fresh positions on rising demand from alloy makers in spot market. On the Multi Commodity Exchange, nickel contracts for January delivery gained Rs 7.20, or 0.59 per cent, to Rs 1,219.40 per kg in a
Silver prices rose by Rs 92 to Rs 68,197 per kg in futures trade on Friday as participants widened their bets on firm spot demand. On the Multi Commodity Exchange, silver contracts for March delivery gained Rs 92, or 0.14 per cent, to Rs 68,197 per kg in 14,044 lots. Analysts said the rise in
oil’s history ends, a delicate task now confronts OPEC+. The alliance of producers led by Saudi Arabia and Russia must decide whether it can continue to restore crude supplies without capsizing the price recovery they spent most of 2020 working to achieve. Moscow believes that the group — which slashed output during the pandemic —
LONDON: Members of the OPEC group of oil producers and their partners will meet via videoconference on Monday to decide on production levels for February, hoping to turn the corner on a difficult year. The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and a price war between
Gold was marginally down Rs 20 to Rs 49,678 per 10 gram in the national capital on Friday, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 49,698 per 10 gram. Silver also declined Rs 404 to Rs 67,520 per kilogram from Rs 67,924 per kilogram in the previous
The winners and losers among the major currencies space in 2020 It has been a long and weary year with plenty of twists and turns along the way but here we are, wrapping up the final day of a historic 2020. Everything that we knew about the year was completely eviscerated in the first three
NEW DELHI: Gold and silver futures prices in the domestic market traded with gains on Friday amid thin trading almost international markets were closed for trading. This comes amid setback to US President Donald Trump‘s demand for an increase in coronavirus relief checks to $2,000, Republican Senate Majority leader Mitch McConnell refused a quick vote
A last-minute Brexit trade deal has been reached just before the Christmas. the outcome is largely inline with our expectations. As a no-deal Brexit is avoided, BOE should be able to keep its powder dry for the year to come. The chance of negative interest rate has also been reduced, barring unanticipated bad news related
2020 was a wild year in European equity trading European bourses closed out the year with a whimper, falling across the board: UK FTSE 100 -1.45% German DAX -0.3% French CAC 40 -0.9% Italy MIB -0.1% Spain IBEX -1.0% On the year, there was some wide divergence in performance,, with UK stocks posting the worst