Gold prices rose by Rs 45 to Rs 48,273 per 10 gram in the national capital on Wednesday following a recovery in the precious metal in the global markets, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 48,228 per 10 gram. Silver also gained Rs 407 to trade
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Pune: The soybean processing industry has urged the government to continue with the current import duty structure because speculation about an impending cut on the levy on edible oils has made the market volatile. “Rumours of duty cut on import of are causing volatility in oilseed prices. The edible oil market has been very volatile
Oil rose for a fourth straight session on Wednesday as the market shrugged off an industry report showing U.S. crude stockpiles rose more than expected, extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. Brent crude was up 74 cents, or 1.5%, at $48.60 a barrel by 1059 GMT, having
Gold regained momentum on Wednesday following a sharp slide toward the $1,800 pivot in the previous sessions, as an unexpected rise in U.S. jobless claims tempered some of the COVID-19 vaccine-led optimism on Wall Street. Spot gold rose 0.3% to $1,812.66 an ounce at 10:15 a.m. EST (1515 GMT), having hit its lowest since July
KOLKATA: India’s appetite for gold has got a fresh boost with prices declining to Rs 48,800 per 10 gm on Wednesday. Demand for the yellow metal has picked up both in urban and rural India from Tuesday, when gold prices fell after a steep rise for almost four months, giving a fillip to the wedding
The market has been thrilled amid signs of progress in the EU-UK deal. Last week, EU Commission president Ursula von der Leyen noted that there was “more movement” on the negotiations “difficult weeks with very, very slow progress”. Yet, she warned that there were “some metres to the finish line” to reach agreement. The major
Commodity currencies remain the strongest one for today with help from risk-on markets. Euro is also firm, shrugging off deterioration in business expectations as indicated by Ifo’s data. Though, selling is focusing on Swiss Franc and Sterling for now. Dollar dropped notably earlier today but there is no clear follow through selling so far. The
Commodity currencies surge broadly today on the back of strong risk appetite, especially in Japan. New Zealand Dollar is additionally boosted after the government asked RBNZ to considering surging house prices in monetary policy moves. Dollar tried to rebound overnight, with the help from downside breakout in Gold. The greenback then lost momentum in Asia,
Markets are in full risk-on mode for now, with DOW closing above 30k handle for the first time overnight. Asian stocks are also generally higher, with strong rally in Nikkei and HSI. WTI oil prices powered through a key near term resistance level while Gold is set to break through 1800 psychological support with next
Dollar’s sell-off slowed mildly as stocks turned into consolidation ahead of Thanksgiving holiday in the US. But for now, the greenback remains the second worst performing for the week, just next to Yen, followed by Swiss Franc. Commodity currencies are strongest together with Sterling. Mixed economic data from US provided little inspirations to investors. It’s
While vaccine news should be bullish for the oil market, the rally in crude oil price proves short lived. Ahead of next week’s meeting to decide extension of output cuts, a long-term OPEC member, the UAE, reportedly has shown discontent about the output cut deal. There are rumors that the third largest OPEC producer has
This is not a vaccine, but a treatment. It was administered to Trump when he was crook with the virus. Its still an experimental therapy. an antibody treatment (a monoclonal antibody, as is Eli Lilly’s drug approved by the FDA for similar application back on November 9) aimed at preventing those with the virus from
By Julian LeeAll is not well in the house of OPEC. As the cartel’s oil ministers prepare to meet in just over a week to decide on the next step in their record-breaking output deal, officials in the United Arab Emirates, normally a loyal Saudi ally, are privately questioning the benefits of participating, and may
As suggested in the CFTC Commitments of Traders report in the week ended November 17, NET SHORT of USD Index futures dropped -154 contracts to 974. Speculative long positions increased +937 contracts and short positions gained +783 contracts. Concerning European currencies, NET LENGTH in EUR futures fell -1 327 contracts to 133 960. NET SHORT
The existing Comprehensive and Economic Trade Agreement (CETA) deal will be ‘rolled over’ as a short-term transitional agreement (small changes are being made to language to accommodate CAD-UK only trade as the original CETA was made when the UK part of the EU). the deal must be approved by both governments (Canada’s Parliament must approve new legislation)
BENGALURU/MUMBAI: A festival-led buying spree continued in India‘s retail gold market this week, though premiums eased slightly from a week ago and sales volumes were seen as lower year-on-year. Discounts in top consumer China narrowed further meanwhile even as demand remained relatively muted. Indians celebrated the festival of Diwali this week, following Dhanteras on Nov.
Markets, including stocks, gold and currencies, were generally bounded in consolidative mode last week. News regarding coronavirus vaccines failed to give sentiments another boost. Instead, investors are waiting for fresh inspirations. Dollar ended as the worst performing one, but stayed inside prior week’s range, except versus Kiwi. Euro, and Swiss Franc are the next weakest.
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