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…
Because of pressure from India’s lingering current account deficit and the central bank’s efforts to increase its foreign exchange reserves, the rupee’s recent gains may prove to be temporary. This month, the currency has lagged behind peers such the Thai baht and Indonesian rupiah, rising just 1.4% despite persistent dollar depreciation. According to QuantEco Research,…
The expectation that China’s harsh COVID-19 regulations will be relaxed will result in a rebound in gasoline consumption in the world’s largest oil importer drove up oil prices on Wednesday, extending gains from the previous session. Following a 1.7% gain in the prior session, Brent crude futures were up 52 cents, or 0.6%, at $86.44…
On Wednesday, gold prices stayed at six-month highs, ending a recent rise as traders repurchased dollars in anticipation of additional monetary policy clues from the Federal Reserve’s December meeting minutes. The yellow metal saw a solid start to the year as demand for safe havens other than the dollar surged in response to worries about…
Early on Wednesday, the price of gold remained steady, with ten kilos of 24-carat gold trading at Rs 54,480. On the other side, silver prices increased by Rs 1,200, bringing the price of the precious metal to Rs 72,300 per kg. 10 grammes of 22- and 24-carat gold are selling for Rs. 49,950 and Rs….
Gold prices edged up on December 5 in the international markets and hovered near the key $ 1,800 level, as a softer U.S. dollar made the greenback-priced bullion cheaper for buyers holding other currencies. spot gold increased 0.1 percent to $1,800.02 per ounce. In the previous session, prices rose to $1,804.46—their highest level since August 10. At…
Gold rate was positive on Thursday as a result of positive global trends, while the silver rate was up 1.16%. The price of gold December futures on the Multi Commodity Exchange was up Rs 244 or 0.47% at Rs 52,695 for a ten-gram contract. Silver December futures were trading Rs. 715 higher at Rs. 62,345…
The Indian rupee lost 66 paise to 81.57 against the U.S. dollar in early trade, following the American dollar’s rise in the international market and a flat domestic equity market. On the strength of encouraging domestic macroeconomic data and falling crude oil prices, the rupee strengthened versus the U.S.dollar in the previous session. The local…
The dollar fell as a result of lower-than-expected inflation in the U.S., and the rupee strengthened by 100 paise to settle at 80.81 versus it. The widest opening disparity in over a decade was 110 paise greater than 80.71 when the currency was introduced. Before finishing at 80.81, 100 paise higher, according to Reuters, it…
On Friday, the Indian Rupee is anticipated to strengthen versus the US dollar due to the dollar’s decline and the strength of Asian and EM counterparts. Additionally, it is anticipated that the US Fed will weaken its aggressive rate-hiking strategy starting in December, which will boost the rupee. The dollar index has decreased this week…
