On Monday, October 23, gold prices in India were trading down due to weak bullion demand in the spot market. For 22-carat and 24-carat gold, respectively, the prices in Delhi were Rs 56,500 and Rs 61,600 per 10 grammes. Additionally, the cost of silver decreased by Rs 200 to Rs 75,100 per kg. Lower rates…
India’s foreign exchange reserves rose by USD 1.153 billion to USD 585.895 billion in the week ending October 13, following many weeks of declines, as per RBI statistics. Overall reserves fell by USD 2.166 billion to USD 584.742 billion in the preceding reporting week. The nation’s foreign exchange reserves hit an all-time high of USD…
The Reserve Bank of India anticipates a little slowdown over the medium term in light of worries regarding the recent spike in global petroleum prices. According to the RBI’s monthly bulletin, the two largest consumers of crude oil, China’s slowing development and the U.S. anticipated drop in fuel consumption, will keep crude prices at $86…
According to a notification released by the directorate general of foreign trade (DGFT), the government on Wednesday extended the ban on sugar exports past October 31.As to the notification, “Export restrictions on sugar, including raw, white, refined, and organic sugar, are extended beyond October 31, 2023, until further order.” The government said last year that…
Natural gas prices significantly dropped in the previous session, falling by 4.1% to close at 245.8, mostly as a result of a number of market-affecting events. The main causes of this bearish trend were record-high natural gas production, warm weather, and a larger-than-expected storage build. US utilities added 97 billion cubic feet (bcf) of natural…
The latest trading session saw cotton candy futures rise noticeably by 0.41%, ending at 58,620. This rise can be attributable to important changes in the cotton market, as described in the USDA’s October WASDE report. According to the analysis, American cotton production will be much lower in 2023–2024, with a projected output of 12.8 million…
According to the coal ministry, more than one billion tons of coal would probably be shipped in the current fiscal year. This was announced on Thursday. During the current fiscal year, the coal ministry aims to produce and deliver 1,012 million tonnes (MT) of coal to customers. The rate of production and dispatch is often…
According to the International Monetary Fund (IMF) and its most recent Regional Economic Outlook (Asia and Pacific) report, India and China are expected to collectively provide over half of global growth in both 2023 and 2024. China’s GDP is expected to develop at a rate of 4.2% in 2024 and 5% in 2023, while India’s…
For breaking several rules, the Reserve Bank fined ICICI Bank Rs.12.19 crore and Kotak Mahindra Bank Rs.3.95 crore on Tuesday. According to the central bank, during ICICI Bank’s mandatory inspections in 2020 and 2021, the lender approved or committed loans to businesses where two of its directors also served as directors. In addition, the bank…
Oil prices increased by about $2 in early trade on Wednesday as industry data revealed a larger-than-anticipated draw in U.S. oil storage and concerns about Middle Eastern supply disruptions as a result of the escalating Israel-Hamas war. The price of Brent crude futures increased $1.62, or 1.8%, to $91.49 a barrel as investors prepared for…
