The Reserve Bank of India’s (RBI) foreign exchange reserves rose by $15 billion in the week ended March 7 to $653.9 billion. These are the sharpest single-week gains in over two years when reserves had risen by $14.7 billion in the week ended November 11, 2022, RBI data showed. Economists said the key reasons behind … Read more
Mumbai :The Indian rupee weakened slightly Wednesday but closed at another record low on New Years’ Day, pressured by dollar bids from importers. The rupee closed at 85.645 against the US dollar, down from its close of 85.615/$1 in the previous session, LSEG data showed. The currency closed at record low levels for the seventh … Read more
The Indian rupee closed at a record low of 84.0725 against the US dollar on Monday, pressured by outflows from local equities and debt and a stronger dollar index. However, likely RBI intervention in the form of dollar sales reigned in losses for the rupee, traders said. Outflows caused by Hyundai routing back funds to … Read more
“I feel that there is tremendous amount of interest outside the banking space and that is again very important because the market is broadening, the sectors are broadening, the themes that are playing out a lot more and this is very important because this makes the longer-term trend much more solid and robust,” says Atul … Read more
What happened to gold and silver last week? What’s the outlook for these commodities this week? And how might the Fed’s actions impact gold in the near future? ET Markets discussed these questions with Naveen Mathur, Director of Commodities & Currencies at Anand Rathi Shares and Stock Brokers, in this week’s ET Commodity Talk. Excerpts: … Read more
Spot gold closed with a loss of 0.23% at $2440 on Friday. However, the metal was up 2.30% on the week, a data and event packed week, as the US yields and the Dollar Index pummeled on the economic concerns. In Friday’s session, initially, spot gold surged on a weak non-farm payroll report and came … Read more
Buoyed by rate cut expectations after the Bank of Canada and the European Central Bank (ECB) cut rates earlier this week, spot gold rose to $2,387 on Friday, the highest level since May 22. However, the metal crashed on a robust US nonfarm payroll report. Spot gold closed with a loss of 3.49% at $2,294 … Read more
Gold prices opened on the Multi Commodity Exchange (MCX) on Monday at Rs 70,999 per 10 grams and hit an intraday low of Rs 70,862. In the international market, prices hovered around $2,339.72 per ounce. Meanwhile, silver opened at Rs 81,093 per kg and hit an intraday low of Rs 80,030 on the MCX. In … Read more
Spot gold snapped its nine-day long losing streak to settle with a gain of 0.69% at $1,833 on Friday. US employers added 336k jobs versus the forecast of 170k jobs in September as a two-month payroll net revision was noted at +119k. The unemployment rate came in at 3.8%, which was slightly higher than the … Read more
NEW YORK – The dollar index hit its highest level in six months on Thursday, as economic data was mostly stronger than anticipated and the European Central Bank (ECB) signaled it was finished with its rate hike cycle. U.S. retail sales increased by 0.6% in August, more than the expected 0.2% rise, boosted by higher … Read more