Gold prices rose 0.71% to ₹78,710 on better-than-expected US inflation data, which raised the prospect of a less restrictive monetary policy from the Federal Reserve. This led to a surprise decline in annual core consumer inflation, and the Fed’s earlier rate cuts in July than in September raised market expectations. Global demand for gold remained…
A strong US dollar and a cautious market approach ahead of key economic data and Federal Reserve talks pushed gold prices lower. Federal Reserve minutes expressed optimism about a strong labor market and easing inflation, Global demand for gold remained stable at 1,176.5 metric tons in Q3 2024, as robust investment activity offset declining jewelry…
Despite concerns about global demand, oil prices rose on Thursday on expectations that a forthcoming US interest rate cut would boost economic activity and boost fuel consumption. Brent oil futures recovered some losses from the previous day, rising 17 cents, or 0.21%, to settle at $79.93 a barrel. U.S. U.S. West Texas Intermediate crude was…
Morgan Stanley predicts a sustained upside in iron ore prices, targeting $120/t in Q3. The firm’s strategists believe that the resistance level is at $100/t, and as the mood improves on China demand and supply slippages, the price risk is skewed upwards. The strategists also noted that the price has traded on average at a…
