Gold prices continued to trade in a narrow range, on Tuesday as investors refrained from placing large wagers ahead of a U.S. Federal Reserve meeting that is anticipated to result in an increase in interest rates. Gold futures increased 0.6% to $1,687.85 per ounce , while spot gold increased 0.2% to $1,679.14 per ounce. Both…
Honda’s India CEO, the Japanese automaker expects its Indian operations to resume growth as it prepares to re-enter the popular sports utility vehicle market in next year. Sports utility vehicle (SUV) sales have exceeded 30 lakh per year in the domestic passenger car market, but the corporation, which is present in the nation through a…
Oil prices rise during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of an international recession that could reduce fuel demand. After closing up 0.5% on Friday, Brent crude futures increased $1.15, or 1.3%, to $92.50 a barrel….
According to government data, India’s Kharif or monsoon sowing of groundnuts decreased by 0.3 million hectares (MH) for the 2022–23 season, falling to 4.51 MH from 4.86 MH, representing a 7.2% decrease across the country. According to Atul Chaturvedi, president of The Solvent Extractors Association of India (SEAI), “a huge number of farmers have switched…
The production for the October-September cotton year 2022–23 is anticipated to increase by about 15%, provided the weather remains favourable until October, providing relief to the entire cotton value chain, at a time when the central government is concerned about the closure of 50% of the country’s spinning mills due to cotton shortages. India’s cotton…
UPL, a provider of sustainable agriculture solutions, announced on Friday that it has combined with CleanMax, a provider of renewable energy, to build a hybrid captive solar-wind energy plant in Gujarat. A hybrid captive power plant with a capacity of 28.05 MW of solar electricity and 33 MW of wind power will be built and…
Wholesale inflation (WPI) in India continued to decline, dropping from 13.93% in July to an 11-month low of 12.41% in August. The wholesale pricing index remained in double digits for the 17th consecutive month in August despite the slight cooling off. The increase in inflation shown in the food articles section, up from 10.77% in…
The Indian rupee is expected to remain sideways on Friday amid falling crude prices, risk aversion in global equity markets, and a strong dollar. The USDINR pair is having resistance at 79.90 and 80.15, while the support has shifted to 79.40 from 79.05, according to analysts. In the previous session, the rupee declined due to…
A strong dollar and high U.S. Treasury yields hampered gold’s price decline to its lowest point since April 2021, as expectations of another significant Fed rate hike reduced the attraction of bullion. To $1,664.46 an ounce, spot gold decreased 1.9 %. At $1,662.30 per ounce, U.S. gold futures experienced a 2.02% decline. Silver prices were…
Following a technical examination of the bids filed for commercial coal mining, the coal ministry held forward electronic auctions for 10 coal mines. The online auction for eight coal mines was held on September 13 and the sale for the final two coal mines was held on September 18. The overall peak rate capacity of…
