GOLD

After reaching new highs due to profit-taking, gold cools as focus turns to US inflation data.

Amid indications of a reduction in trade hostilities between the United States and China, as well as speculators taking advantage of bullion’s recent record rally to profit while they awaited U.S. inflation data later this week, gold prices continued to decline on Wednesday. Spot gold was trading at $4,109.19 an ounce, down 0.4%. Tuesday saw…

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After the RBI’s $5 billion market intervention, the rupee sharply rebounded from its position close to all-time lows.

Traders indicated that the RBI is believed to have sold between $3 billion and $5 billion in both spot and non-deliverable forward markets on Wednesday to support the rupee, marking its most extensive intervention in several months. Estimates were provided by seven traders from various private, public, and foreign banks, with two of them citing…

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