On November 3, the Reserve Bank’s rate-setting committee will meet in extraordinary session to discuss why the government failed to keep retail inflation below the target of 6% for three consecutive quarters since January. The report on the causes of the failure to attain the inflation target as well as the corrective actions the central…
As the dollar and U.S. bond yields fell on Wednesday, gold prices increased to a two-week high on speculation that the Federal Reserve might tone down its hawkish policy of rate hikes from December. After reaching its highest level since October 13, spot gold increased by 1% to $1,669.22 per ounce. At $1,673.80, U.S. gold…
Fast-moving consumer goods (FMCG) companies are hopeful of rural consumption improving in the coming quarters on the back of softening commodity prices, normal monsoons, and government measures. Rural volumes have largely been muted so far because of inflationary pressures impacting consumption in the regions. Commodities will have the most impact on rural volumes, according to Ritesh…
In the agriculture produce marketing committee (APMC) yards, wheat arrivals from October 1–24 reached a three-year high, while they were lower than the inflow seen during the same period last month. The arrivals at APMCs nationwide between October 1 and 24 were 6.75 lakh tonnes (lt), down from 9.1 lt between September 1 and 24….
The World Bank predicted on Wednesday that after this year’s 60% increase in response to Russia’s invasion of Ukraine, energy prices will fall 11% in 2023. However, slower global development and Covid limits in China could cause a deeper fall. In its most recent Commodity Markets Outlook, the bank predicted that the price of Brent…
Hindustan Zinc Ltd. (HZL), which is owned by Vedanta, posted a consolidated net profit of Rs. 2,680 crores, up roughly 33% yoy. On account of increasing volumes of refined metal and silver, advantages from strategic hedging, higher zinc prices, and favorable exchange rates, operating revenue increased by Percent yoy to 8,336 crores. The CEO of…
Exports of textiles and apparel decreased by 8.5% in the first half of FY23 compared to the same period last year, significantly behind the 17.8% increase in merchandise exports as a whole. In H1FY23, textile and clothing exports totaled $18.3 billion, down from $20 billion in H1FY22, according to the most recent data from the…
Foreign exchange reserves decreased by $4.5 billion after barely increasing the week before. For the week ending October 14, according to information issued by the Reserve Bank of India, the reserves were $528.4 billion. Due to foreign currency assets and gold reserves, the reserves decreased. Since July 29, forex reserves have been falling, with the…
Considering that this asset class offers considerable diversification from conventional equities and debt investments, the custom of purchasing gold for Diwali appears to have been carefully considered. Gold is a haven in unstable economic times. Along with being a hedge against inflation, it can also provide some protection against rupee devaluation, which is particularly important…
Oil prices decreased on Wednesday as reports from the industry revealed that U.S. oil stockpiles increased more than anticipated, but losses were restrained by supply concerns. After closing 26 cents higher the day before, December Brent crude futures were down 72 cents, or 0.8%, at $92.80 a barrel. West Texas Intermediate (WTI) crude for the…
