Gold Rate Today: Gold at three-week low. Will it fall further?

Gold Rate Today: Gold at three-week low. Will it fall further?

Gold and silver futures traded weak on the MCX on Monday amid lack of positive triggers. On the Comex, the yellow metal traded flat hovering near three-week lows as the Street awaits US inflation data for more cues on the interest rate trajectory from the US Federal Reserve. The December gold futures were trading at … Read more

Gold likely to remain range-bound next week

Gold likely to remain range-bound next week

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

Fed keeps rates unchanged but signals likelihood of another hike this year

Fed keeps rates unchanged but signals likelihood of another hike this year

Washington: The Federal Reserve left its key interest rate unchanged Wednesday for the second time in its past three meetings, a sign that it’s moderating its fight against inflation as price pressures have eased. But Fed officials also signalled that they expect to raise rates once more this year. The move to leave its benchmark … Read more

US economic growth for last quarter is revised down to a 2.1% annual rate

US economic growth for last quarter is revised down to a 2.1% annual rate

WASHINGTON: The U.S. economy expanded at a 2.1% annual pace from April through June, showing continued resilience in the face of higher borrowing costs for consumers and businesses, the government said Wednesday in a downgrade from its initial estimate. The government had previously estimated that the economy expanded at a 2.4% annual rate last quarter. … Read more

Asian shares hit two-week high on Fed pause bets, China boost

Asian shares hit two-week high on Fed pause bets, China boost

Asian equities rose on Wednesday and the dollar wobbled as weak U.S. labour data bolstered bets that the Federal Reserve was likely done with its interest rate hikes, while beaten-down China stocks rose for a third straight day. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.86% to a two-week top and is on … Read more

Debate over rate moves at US central bank is shifting

Debate over rate moves at US central bank is shifting

Washington: As Federal Reserve officials close in on the end of their tightening campaign, the debate is shifting from how high interest rates need to go to how long they should stay elevated. Inflation pressures are easing, which could give policymakers room to keep interest rates at or near current levels for the time being. … Read more

Gold is looking vulnerable in the coming week; resistance seen at $1965/$1987

Gold is looking vulnerable in the coming week; resistance seen at $1965/$1987

Spot gold closed with a loss of $1 at $1959.20 in an eventful week. Gold got some boost from the peak rate narrative as both the European Central Bank and the US Federal Reserve made it clear that they would adopt a data-dependent approach in deciding their monetary policies going forward. However, the much anticipated … Read more

Fed signal for rate pause takes pressure off hot jobs report

Fed signal for rate pause takes pressure off hot jobs report

New York: Federal Reserve officials are signaling they plan to keep interest rates steady in June while retaining the option to hike further in coming months, steering market expectations ahead of a key employment report. Governor Philip Jefferson, a centrist who’s nominated to be vice chair and who often echoes Chair Jerome Powell‘s views, said … Read more

Yellen’s debt limit warnings went unheeded, leaving her to face fallout

Yellen’s debt limit warnings went unheeded, leaving her to face fallout

In the days after November’s midterm elections, Treasury Secretary Janet Yellen was feeling upbeat about the fact that Democrats had performed better than expected and maintained control of the Senate. But as she traveled to the Group of 20 leaders summit in Indonesia that month, she said Republicans taking control of the House posed a … Read more

Oil prices edge lower after surprise build in U.S. crude, gasoline stockpiles

Oil prices edge lower after surprise build in U.S. crude, gasoline stockpiles

Oil prices slipped in early trade on Wednesday after industry data showed a surprise build in U.S. crude stocks, while investors awaited U.S. inflation data for April that could give direction for the Federal Reserve‘s next rate decision. Brent crude dropped 16 cents to $77.28 a barrel at 0008 GMT, while U.S. West Texas Intermediate … Read more