Silver prices surged 1.25% to 81875, overcoming rising U.S. Treasury yields fueled by positive Nonfarm Payrolls (NFP) statistics and undermining hopes of a Federal Reserve rate decrease in June. The total amount of silver ETF holdings this year has increased by 3% as a result of the significant inflows that investors have made into ETFs…
The reason behind the -0.33% decline in gold prices that occurred recently, with a closing price of 61024, is traders assessing the monetary policy environment. The Fed’s cautious approach and intention to continue a tight policy for an extended length of time were evident in the FOMC minutes. With a minor decline in betting on…
Earlier in the month, the rupee weakened and fell to an all-time low after data showed the trade deficit widened to a 10-month high of $24.2 billion in August from $20.7 billion the previous month. At the end of the week, JP Morgan announced the inclusion of India in its emerging market index. The Index…
Amidst a strong dollar, an increase in US Treasury yields, and risk aversion in the global markets, the rupee declined sharply in the previous week, breaking through the significant resistance level of 83.00. The US economy was shown to be resilient by a deluge of strong economic data, which gave the dollar and yields a…
Yesterday, the price of gold decreased by -0.67% to settle at 58290 as the 10-year Treasury yield rose to its highest level in 10 months on concerns that U.S. interest rates may continue to rise in the future, which was fueled in part by China’s economic difficulties. The Fed’s minutes revealed that policymakers were split…
Following a recovery in the dollar and weaker Chinese currencies, the Indian rupee concluded the prior week on a negative note. The local unit dropped for the second consecutive week to close at 82.77, the lowest level since February 2023. The rupee fell after reaching 82.50, despite significant inflows of foreign capital. Foreign institutions have…
The price of gold is trading unchanged on Friday, while the price of silver is up 0.23%. Gold June futures were selling at Rs 61,469 per 10 grams on the Multi Commodity Exchange, down Rs 24 or 0.04%. On the MCX, silver May futures were trading at Rs 78,220 per kilogram, up Rs 182. Globally,…
Current gold prices, future gold prices, and gold price forecasts: Despite encouraging global signals for the metal, the gold rate is slightly down on Wednesday, while the silver rate is up 0.25%. Gold April futures were trading at Rs 58,540 per 10 kilos on Multi Commodities Exchange, down Rs 39 or 0.07%. Silver May futures…
The rupee lost 8 paise to open at 79.82 against the U.S. dollar on Wednesday as traders awaited the U.S. Federal Reserve’s interest rate announcement for additional indications. The local currency, according to forex traders, suffered from the strength of the American dollar in international trade and a flat domestic equity market. Furthermore, the local…
