Oil prices dipped in early trade on Friday, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. Brent crude futures fell 22 cents, or 0.2%, to $90.62 a barrel as at 0052 GMT after sliding 3.5% to a … Read more
NEW DELHI: US Fed Chair Jerome Powell’s ultra hawkish speech at the Jackson Hole symposium last Friday scared equity bulls enough to lead a spike in both the US dollar index and bond yields but failed to control the enthusiasm of foreign institutional investors or FIIs betting on India. FIIs ended up pouring over Rs … Read more
Gold extended gains on Friday en route to its best week in nearly two months as investors sought safe-haven assets after U.S. President Donald Trump tested positive for COVID-19. Spot gold was up 0.5% at $1,915.34 per ounce by 0645 GMT, reversing losses from early Asian trade. U.S. gold futures rose 0.3% to $1,922.20. Bullion … Read more