Following a significant increase the day before, gold prices were around a six-month high on Wednesday as markets anticipated an interest rate increase from the Federal Reserve later in the day as well as their comments on lessening inflationary pressures. As evidence that price pressures in the nation have peaked and are expected to retreat,…
The first half of the current fiscal year saw India import 131.92 million tonnes (mt) of coal for a whopping 2.31 lakh crore, or about $28 billion at Wednesday’s exchange rate, the highest amount thus far in value terms since FY19. The high value of imports was caused by rising global coal costs, which were…
Two significant macroeconomic indices issued on Monday indicated conflicting trends. Consumer Price Index (CPI)-based retail inflation fell to an 11-month low of 5.88% in November from 6.77% in October, but the Index of Industrial Production (IIP)-based measure of industrial output shrank by 4% from 3.2% growth in September to 4.0%. For the first time in…
Bangladesh has asked India to provide at least 0.5 million tonnes (mt) of parboiled rice on a government-to-government (G2G) basis for distribution through ration shops. The Sheikh Hasina Wajed administration has contacted India’s High Commissioner to Bangladesh for the supply, according to trade sources, even though Dhaka has issued two tenders for the importation of…
In anticipation of U.S. inflation statistics and a number of central bank meetings around the world, including the Federal Reserve, gold prices moved lower on Monday. Gold’s spot price fell 0.3% to $1,792.15 per ounce. The price of US gold futures decreased 0.4% to $1,803.70. The U.S. central bank’s final meeting of 2022, planned for…
The rupee saw a high-voltage week in the domestic currency market, falling from 81.21 to 82.77 before ending at 82.28, losing more than a percentage point. Better global cues, lower crude oil prices, the central bank buying dollars, and inflows of foreign funds all weighed on the rupee, making it difficult for it to advance….
On Monday, oil prices increased by more than 1% as a crucial pipeline that supplies the US remained closed and Russian President Vladimir Putin threatened to reduce production in retaliation for a Western export price ceiling. By 0300 GMT, the price of Brent crude futures had risen 30 cents, or 0.4%, to $76.40 per barrel….
On Monday, gold prices declined marginally below important levels as caution set in ahead of crucial U.S. inflation data and a Federal Reserve meeting this week. Copper prices also suffered from uncertainties related to the rise in COVID-19 cases in China. The statistics released last week showed that U.S. producer price inflation continued to decline…
Telangana-based researchers have successfully tested the high-density planting system (HDPS), which has the potential to boost cotton yields by 30 to 50%. In approximately 3,642 hectares spread over 26 districts in Telangana, researchers from Prof. Jayashankar Telangana State Agricultural University (PJTSAU) and the State Agricultural Ministry have started HDPS demonstrations in farmers’ fields. It’s like…
For the second month in a row this fiscal year, India was a net importer of steel in November, with imports totaling 600,000 tones. This trend is symptomatic of a global slowdown in the metal cycle and ongoing pressure on the price of domestic products. According to a report from the Steel Ministry that was…
