New Delhi | Mumbai: The government appointed Indian Administrative Services (IAS) officer Sanjay Malhotra as the next governor of the Reserve Bank of India (RBI) for a three-year term, succeeding Shaktikanta Das, whose tenure ends Tuesday. Malhotra takes over at a time of high inflation and slowing growth amid calls for rate cuts to bolster … Read more
The Indian rupee closed stronger on Monday, aided by a rally in Asian currencies that helped the local unit touch its highest in two weeks. The rupee closed at 83.87 against the U.S. dollar, up from its close at 83.94 on Friday. The currency hit 83.85 during the session, its highest since Aug. 6. The … Read more
U.S. stocks fell on Wednesday as investors digested minutes of the Federal Reserve‘s most recent meeting but Nvidia‘s shares rose about 6% after the close on the semiconductor bellwether’s stronger-than-expected revenue forecast. The news also drove gains in other chipmakers. Investors had focused on whether Nvidia‘s first-quarter results could meet sky-high expectations and whether the … Read more
In a volatile May when S&P BSE Sensex has slipped 566 points or 0.75%, silver has outsmarted not just the headline index but also its shinier peer gold, and Bitcoin. The white metal has jumped by nearly 11.29% or over Rs 9,580 per kg in this month so far as its industrial appeal returns along … Read more
The prospect of interest rates remaining elevated as the Federal Reserve battles inflation is further clouding the outlook for shares of smaller U.S. companies, which have lagged broader markets this year. Small cap stocks surged at the end of 2023, as expectations grew that the Fed was done raising interest rates and would soon begin … Read more
Washington: The Federal Reserve signaled fresh concerns about inflation as it reaffirmed it needs more evidence that price gains are cooling before cutting interest rates from a two-decade high. Officials unanimously decided to leave the target range for the benchmark federal funds rate at 5.25% to 5.5% – where it’s been since July – following … Read more
WASHINGTON – Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners – pretty much everyone – began obsessing over a single question: When will the Fed start cutting rates? But now, with the U.S. economy showing surprising vigor, a different … Read more
Mumbai: Gold should remain a key component of investor portfolios in 2024 to help mitigate the volatility expected in equities and fixed income amid crucial local and global events, said experts. While an easing interest rate environment is seen propping up prices of the yellow metal, double-digit returns like those in 2022 and 2023 are … Read more
“Overall, the big trigger will be the Fed rate cut which should happen by March, April and we will have to see the magnitude of that so the big defining trend for this year will be rate cuts across the world,” says Ajay Bagga, Chairman, Elyments Platforms 2024 is indeed going to be a crucial … Read more
In the wake of an all-time high in gold prices post the festive season, investors are closely scrutinising past trends for insights into the potential duration of this rally and the likelihood of a corrective phase in the near future. Historically, gold has exhibited a characteristic pattern of correction, typically around 10%, following a robust … Read more