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Gold was on a rollercoaster ride this month and ended lower, marking its first such decline in three months in April. Price rose in the early half of the month but lost momentum close to $2,000/oz level and corrected sharply to near $1,870/oz level before moving back close to $19,00/oz level. Gold has been directionless

The old adage is that stocks don’t bottom on Fridays. Of course, it’s also the final trading day of the month so that could have led to some special selling flows that could reverse on Monday as we begin May. On the day: S&P 500 -3.6% worst single day since June 2020. Lowest close since

Volatility has become the hallmark in the global markets and this might persist until the war between Russia and Ukraine subsides. Last week, crude oil lost nearly 5 per cent on demand concerns and extended additional 5 per cent losses on Monday. WTI crude oil made low of almost $96.35 and on price fell to

Dollar ended up as the strongest one last week, having the best week since 2015 and with Dollar index hitting a two-decade high. Though, the rally somewhat slowed towards the end of the week. It could be a result of month end flow or traders’ cautiousness ahead of Fed. But in any case, there is

As the clock ticks toward the Fed decision next Wednesday, the stocks are not taking it well. Of course, Amazon’s poor earnings after the close last night was a key catalyst today. Amazon shares are closing down over 14% on the day, and is also closing below its 200 week MA for the first time

April 29 : Gold prices edged higher on Friday as lower U.S Treasury yields outweighed pressure from an elevated dollar, but bullion was still headed for its biggest monthly drop since September on fears of aggressive interest rate hikes by the Federal Reserve. FUNDAMENTALS * Spot gold was up 0.1% at $1,897.01 per ounce, as

Dollar is paring some gains today but remains the strongest one for the week. Canadian Dollar is currently the second best. Euro is trying to recover but remains the second worst, just next to Sterling. Yen is trying to recover against Dollar too, but stays weak against European majors. Aussie and Kiwi are mixed for

Interest rates are a powerful tool and they’re on a collision course with the red hot US housing market. A year ago, Americans could get 2.9% 30-year fixed mortgages; they’re currently at 5.1%. That has the market betting that housing will cool off dramatically. Here’s the chart of XHB, the home builders’ ETF. It’s down

New Delhi: Gold in the national capital on Friday jumped Rs 605 to Rs 51,627 per 10 grams in line with rally in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,022 per 10 grams. Silver also zoomed by Rs 1,596 to Rs 65,207 per

Lots of important economic data are released today but they’re largely ignored. Inflation data from the US and Eurozone are strong. Canada’s monthly GDP growth was well above expectation while Eurozone GDP growth turned weaker in Q1. But reactions to them are mild. While the greenback is paring some recent gains, it remains the strongest

It’s still tough to fight against the dollar at this point, even if the greenback is seen giving back some as we look to close out the week and the month in general. Equities put in a good shift yesterday but it comes on the back of a rather sluggish April as a whole, with

NEW DELHI: Gold prices rose on Friday as economic data from the US increased the appeal of the yellow metal. However, gains were capped by a firm dollar. The American economy unexpectedly shrank in the first quarter of 2022, data from the Bureau of Economic Analysis showed Thursday. Meanwhile, US dollar traded at two-decade highs.

Markets sentiment stabilized a bit in Asia, following the recovery in US stocks overnight. Commodity currencies are paring some losses while Dollar and Yen are retreating. But so far, the Japanese currency is still the strongest one for the week, backed by overall risk-off sentiment, while Dollar is also firm, except versus Loonie. Euro is

USD/CAD is down 25 pips on the day and testing support from a pair of lows over the past 24 hours. The main catalyst is a rapidly-improving mood in risk assets. The Nasdaq is up 2.75% and the S&P 500 up 2.3%. Both have bounced around recently but the bulls look like they’re finally making

New Delhi: Gold in the national capital on Thursday fell by Rs 442 to Rs 51,010 per 10 grams in line with decline in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal settled at Rs 51,452 per 10 grams. Silver also declined by Rs 950 to Rs 64,167

Dollar’s broad based rally continues into US session. The unexpected contraction of Q1 US GDP might give the greenback a little jitter. But it’s unlikely to alter the up trend for now. As for today, Canadian Dollar is the second strongest Yen is the worst performing one on post-BoJ selloff. But Kiwi and Sterling also

The two big factors providing a strong tailwind for the dollar today are the meltdown in the Japanese yen after the BOJ pledged to maintain yield curve control, sending USD/JPY up to hit 130.00 and also the continued plunge in the Chinese yuan, weakening past 6.60 against the dollar. That is seeing the greenback post

NEW DELHI: Gold prices weakened further on Thursday to a two-month low, thanks to the rising dollar which hurt the bullion’s demand. An impending US interest rate hike also dampened the metal’s appeal as an inflation hedge. The dollar index had reached a five-year top of 103.28, and a further push above 103.82 would see