Spot gold closed with a solid gain of 1.76% at $2330 Friday as the metal rallied for the third straight week. It hit a fresh record high just above $2330. It posted a whooping gain of nearly 4.50% on the week despite surging yields and a largely steady US Dollar. Part of the gains this … Read more
Dismal US monthly job report and ISM services data Friday sank the US yields and consequently, the US Dollar index, which propelled the gold prices above $2000. However, reduced geopolitical concerns led to a decline from the day’s high. Spot gold closed with a gain of 0.36% at $1992.72. It was lower on the week … Read more
Mumbai: Indian equities weakened on Monday as heightened uncertainty over the Israel-Hamas conflict led to a flight of money, across global markets, to safe-haven assets such as gold and the US dollar. The surge in oil prices in the wake of the geopolitical tensions also soured sentiment among investors, already anxious about the persistent inflation … Read more
A benign US dollar could be good news for metals and one stock that may see a pullback due to this is Hindalco Industries. The share has a potential upside of 6% in the near term based on current momentum. Hindalco shares have underperformed not just the Nifty50 but also the Nifty Metal Index in … Read more
NEW DELHI: On the back of corporate dollar outflows, the Indian rupee today plunged 1% to end at a month-low of 82.61 against the US dollar. The dollar index, which measures the strength of the greenback against a basket of six major currencies, hung on to most of the previous session’s gains to be the … Read more
Negative investor sentiment due to a rapid rise in global interest rates, a strong US dollar, and higher bond yields, gold lost its glitter throughout this year. London spot gold prices fell for the seventh consecutive month in October, shedding more than 10% since January. Rising interest rates are typically an obstacle for gold as … Read more
After a short correction, the US dollar gains back strength, soaring near to July’s two-decade high with broad effects on global financial markets. The US Dollar has been appreciating against other currencies since mid-2021, but the most rapid rate of the increase happened since the Russian invasion of Ukraine. The dollar index, which measures the … Read more
Markets have been presenting an excellent opportunity to invest. Now the question on every investor’s mind is where to invest? In last week’s article, I mentioned about banking sector bottoming out. IT is another sector where the fall seems to be over. The sector has been in the limelight for various reasons. An uptrend was … Read more
NEW DELHI: The rupee on Wednesday fell to an all-time low of 78.86 against the US dollar at the open. A few analysts said it is a matter of time till it touches the 79 mark. The partially convertible rupee was trading at 78.94/95 per dollar. The currency closed at 78.77 on Tuesday. “As equity … Read more
India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank … Read more