NEW DELHI: The series-IX of the sovereign gold bond (SGB) scheme 2020-21 opened for subscription on Monday. The issue comes at a time when gold prices are trading near Rs 50,000 per 10 gram, off record highs. Prospective bidders, who intend to subscribe to the scheme, can bid for a minimum of 1 gm of
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Dollar, Yen and Swiss Franc are the relatively weaker ones in quiet markets today. Asian investors are lifted slightly after US President Donald Trump signed the massive USD 2.3T package that contains a USD 900B pandemic relief, while also averted government shutdown. Sterling and Euro are the firmer ones after the long-awaited Brexit trade deal
Unemployment benefits for many Americans (around 14 million lose the extra benefits) lapsed at midnight on Saturday after Trump failed to sign the COVID-19 relief and spending bill. Ahead is a potential government shut down to begin Tuesday if he continues to ‘pocket’ veto the bill. As I posted last week, link here for more:
MUMBAI: Gold, always considered a safe haven for investment in uncertain times, is likely to glitter more and even soar to Rs 63,000 per 10 grams next year amid expectations of fresh stimulus measures and weaker American dollar. In 2020, the economic and social uncertainties triggered by the coronavirus pandemic turned the spotlight on gold
Forex news for Asia trading for Thursday 24 December 2020 The headline to the post pretty much sums up the session here, there was a drip-feed of Brexit trade deal headlines, none of which had much substance but put together they provided a bit of hope that a deal is close. Its best to bear
A Brexit “deal” announcement is imminent After all the theatrics, we are nearly finally there. A potential announcement was slated in the wee hours of the morning but the European Commission came out to tell everyone to get some shut eye as things will continue later this morning instead: #brexit work will continue throughout the
Not much else happening at this point as the UK and EU are still finalising a Brexit trade agreement No change to the narrative besides some last-minute hitch to fisheries, but that will surely be resolved one way or another as the political will is certainly there. Both sides will want to get this out
Soybean prices on Thursday went up by Rs 61 to Rs 4,552 per quintal in futures market as traders created fresh positions tracking positive spot demand. On the National Commodity and Derivatives Exchange, soybean for January delivery rose by Rs 61, or 1.36 per cent, to Rs 4,552 per quintal with an open interest of
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
By Nia Williams and Dmitry ZhdannikovLONDON: Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The market built gains overnight as Britain and the European Union reached a post-Brexit trade deal, reversed those gains, and then rebounded during the U.S. session to end modestly higher.
Sterling opened the week broadly lower after Brexit trade negotiations missed yet another deadline. Additionally, European countries rushed to ban travel from UK as coronavirus infections worsened. Aussie and Kiwi are trailing as the next weakest on mild risk aversion. On the other hand, Dollar, Yen and Swiss Franc are the stronger ones. The economic
Labour will support the deal The long nightmare is over, the Brexit deal is done. As usual, the market moved way before the announcement and there was some selling of the fact on the announcement, which came just before 1500 GMT. I think real money flows will ultimately take cable higher but the deal has
Gold on Thursday gained Rs 385 to Rs 49,624 per 10 gram in the national capital, reflecting gains in global precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 49,239 per 10 gram. Silver also witnessed buying as it gained Rs 1,102 to Rs 66,954 per
The DXY index will likely record a -6% fall in 2020, the first decline in 3 years. Although US economic recovery should lend support to the dollar, exceptionally accommodative monetary policy, widening deficit (exacerbated by the new round of fiscal stimulus) and reduced demand for safe-haven asset should keep US dollar weak in the coming
The anticipation continues to build Johnson and von der Leyen are reportedly expected to have one final call at 0700 GMT – most likely to make sure that their messages match up – before we get the official press conference to announce that a trade deal has been struck at around 0800 GMT. I would
NEW DELHI: Gold and silver futures prices in the domestic market slipped on Thursday as traders booked profits after softer jobless claims data showed signs of economic improvement. Hopes of a Brexit deal also put pressure on prices. Data on Wednesday showed the number of Americans filing first-time claims for unemployment benefits unexpectedly fell last
Trading remains rather subdued with markets already in holiday mode. Sterling has the potential to explode with wild moves, but we’re so far disappointed by the lack of progress in Brexit trade negotiations. The surge in cases of the coronavirus, with threats of a new strain, also kept risk appetite capped. A bunch of economic
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