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…
The rupee traded early on Thursday in a range-bound as a strong dollar and worries over a hawkish U.S. Federal Reserve outweighed gains in domestic markets. At the interbank foreign exchange, the rupee touched 79.47 in initial deals after starting at 79.53 against the dollar, gaining 5 paise from its previous close. The rupee lost 35…
Vedanta Resources, which has made 80,000 crores of rupees in Odisha, announced that it intends to invest an additional 25,000 crores there in order to grow the mining, ferrochrome, and aluminium sectors of the state’s economy. According to a firm statement, with this amount of investment, its operations (direct and indirect) are generating close to…
Vegetable inflation is high but that of spices is higher, retail inflation data shows. According to experts, pest attacks and decreased production are the main causes of rising spice inflation. The planting of spice seeds is hoped to benefit from a delayed monsoon. Vegetable retail inflation in August reached 13.23%, while spice retail inflation hit…
American Petroleum Institute (API) statistics released on Tuesday, which came before the government released its official inventory figures, which would have included drawdowns from the national oil reserve, showed that U.S. crude stockpiles increased by more than 6 million barrels over the previous week. September 9, API reported that U.S. crude stockpiles increased by 6.035…
Indian rupee appreciated 28 paise to 79.25 against the U.S. dollar in opening trade on Tuesday, tracking the dollar’s decline versus its major peers and foreign fund inflows. At the interbank foreign exchange, the local unit struck 79.25 in initial deals after starting at 79.30 against the dollar, gaining 28 paise from its previous close….
Gold prices moved little on Tuesday, but they managed to hold onto recent gains as investors looked for additional evidence that U.S. inflation was declining from recent peaks.While gold futures declined 0.2% to $1,736.35 per ounce, spot gold increased by over 0.1% to $1,725.70. As the dollar fell from a 20-year high reached last week,…
The National Commodity and Derivatives Exchange (NCDEX), which established the Turmeric Product Advisory Committee (PAC), has stated that futures trading ensures transparent price discovery for all participants in the commodity value chain and that future prices serve as a benchmark for physical trade as well. The PAC report was released in response to some dealers…
On the Multi-Commodity Exchange (MCX) in the morning, gold contracts were trading 0.2% down at Rs 50,427 for 10 grams while silver prices were up 0.3% at Rs 55,213 for a kg. Spot gold prices increased globally by 0.1% to $1,717.17 per ounce. At $1,728,70, U.S. gold futures were unchanged. A key U.S. inflation reading…
Following Russia’s invasion of Ukraine, Brent crude has surpassed $90 on the downside for the first time in eight months. Brent was trading at roughly $90 in February when Russia invaded Ukraine, and then prices soared as hostilities grew more intense. Since OPEC+ wants to maintain prices high and recession fears are rising, the cartel…
