Monday’s solid U.S. economic statistics fueled concerns that the Federal Reserve will continue raising interest rates to control inflation, but gold prices were flat and remained close to a two-month low. Gold’s spot price remained at $1,810.48 per ounce. At $1,817.40, U.S. gold futures were unchanged. On Monday, gold prices fluctuated between flat and up….
On Friday, oil prices continued to rise as the likelihood of decreased Russian supplies partially offset rising US inventories. Around 0215 GMT, the price of Brent crude futures increased 61 cents, or 0.7%, to $82.82 per barrel. The price of a barrel of West Texas Intermediate crude futures (WTI) increased by 63 cents, or 0.8%….
At its upcoming meeting, which is set for April 6–8, the monetary policy committee (MPC) is expected to vote in favour of a 25 basis point increase in the policy repo rate, according to economists, as the February MPC review minutes highlighted internal members’ elevated concerns over core inflation and hawkish communication. The February MPC…
Despite conflicting global cues, the gold rate is up this Friday, while the silver rate is down. Gold April futures were selling at Rs 55,743 per 10 kilos on the Multi Commodities Exchange, up Rs 156 or 0.28%. On the MCX, silver March futures were selling at Rs 65,642 per kilogram, down Rs 83. Gold’s…
The Food Corporation of India (FCI) was able to cut the selling price of wheat by ₹1.70/kg on Wednesday during the third round of the electronic auction after lowering the reserve prices of wheat by ₹2/kg. There were sales of up to 5.07 lakh tonnes (lt). Government officials predicted that the retail market will soon…
With a 7-9% increase to roughly 425 million tonne (MT) in fiscal 2024, the country’s cement consumption is expected to expand for a third straight year, but the outlook for operating profits is still unclear.According to a report by Crisil Market Intelligence & Analytics, the operational margins, which were under pressure because of high pricing…
On Thursday, oil prices marginally increased in light Asian trading, breaking a six-day losing run fueled by growing worries that more aggressive interest rate increases by central banks will stifle economic development and fuel demand. A barrel of Brent crude futures increased by 2 cents to $80.62. WTI crude futures increased by 9 cents, or…
The mandatory certification of cotton bales under the Quality Control Order (QCO) has been approved by the Center, and the Ministry of Textiles expects this would increase the supply of high-quality cotton to the textile industry.According to officials, the requirement that cotton bales supplied in India have Bureau of Indian Standards (BIS) certification is intended…
Wednesday’s oil prices remained stable as traders awaited the U.S. Federal Reserve’s remarks in the wake of recent statistics suggesting the prospect of additional interest rate hikes, which may slow global economic growth and reduce fuel demand. After losing 1.2% on Tuesday, Brent crude futures for April delivery were up 2 cents at $83.07 per…
To further lower prices, the government on Tuesday declared it would release an additional 20 lakh tonnes (lt) of wheat into the market through the open market sale system (OMSS). The notification is made one day before the following round of wheat auctions to sell 11.72 lt. As of now, it has been determined to…
