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Gold price in the national capital fell by Rs 139 to Rs 50,326 per 10 grams on Friday amid a fall in international precious metal prices, according to Securities. In the previous trade, the yellow metal had finished at Rs 50,465 per 10 grams. Silver also fell sharply by Rs 363 to Rs 58,366 per
Dollar, Yen and Swiss Franc are currently trading as the strongest ones for the week, as supported by risk-off sentiment. Yen overpowers the other with help from intervention by Japan. Dollar is supported by hawkish Fed while Swiss Franc clearly lagged behind. Nevertheless, the Franc is still up against Euro and Sterling, which are among
Prior was 43.7 Manufacturing 51.8 vs 51.1 expected Prior manufacturing 51.5 Composite 49.3 vs 44.6 prior Is this a situation where good news is bad news? The Fed wants to see demand sag and there’s been a bounce in services.. Comments on prices: Reflecting softer rises in cost burdens, firms increased their selling prices at
Sterling is in free fall today as markets reacted negatively to the “mini-budget” of the new government. Selloff came after Finance Minister Kwasi Kwarteng announced to cancel and planned rise in corporation tax, reverse a recent rise in income tax, and cut taxes for businesses in designated investment zones. Swiss Franc is currently the biggest
Considering recent actions, I would argue that China did think about drawing a hard line in USD/CNY somewhere close to 7.00 but prevailing market fundamentals have made it tough to really pin down price action. The dollar is running a rampage amid a more hawkish Fed and there are still major concerns surrounding China’s economic
Gold prices were flat on Friday as the dollar held close to its recent peak while the likelihood of more aggressive interest rate hikes by the U.S. Federal Reserve also weighed on the appeal for non-yielding bullion. FUNDAMENTALS Spot gold was flat at $1,671.60 per ounce by 0107 GMT. U.S. gold futures ticked 0.1% higher
Gold price in the national capital rose by Rs 442 to Rs 50,399 per 10 grams on Thursday amid a rise in international precious metal prices and sharp rupee depreciation, according to Securities. In the previous trade, the yellow metal had closed at Rs 49,957 per 10 grams. Silver also climbed by Rs 558 to
The Fed and BOJ continue to be on opposite ends of the spectrum with the former sending a rather hawkish message to markets that they are in it for the inflation fight. Meanwhile, the latter continues the same old communique while keeping monetary policy unchanged – which saw USD/JPY briefly hit above 145.00 for the
Gold prices fell 1% on Thursday, as the dollar rose sharply after the U.S. Federal Reserve increased interest rates by another 75 basis points and flagged more hikes. FUNDAMENTALS Spot gold dropped 1% to $1,656.97 per ounce, as of 0114 GMT. U.S. gold futures fell 0.5% to $1,667.30. The dollar index scaled a new two-decade
Dollar is staying as the strongest one for the week as markets await FOMC rate hike. Yet, the greenback is still held below last week’s high against most counter parts except Loonie and Kiwi. Swiss Franc is also resilient while markets are speculation a larger than expected hike by SNB later on Thursday. Commodity currencies