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Gold prices edged lower on Tuesday, trading $100 below the record high level hit in the last session, as the dollar held firm and investors awaited more U.S. economic data this week that could influence the Federal Reserve’s rate outlook. Spot gold was down 0.3% at $2,024.30 per ounce by 1200 GMT. Bullion had climbed

Commodity currencies, particularly Australian Dollar, are experiencing notable selling pressure today. However, it should be noted that European investor sentiment, while not explicitly full-blown risk-on, clearly lacks the typical features of risk aversion. In the US, futures markets are just slightly down, indicating a cautious rather than outright negative sentiment among traders. This subdued response

Markets: S&P 500 up 27 points, or 0.6%, to 4603 Gold up $35 to $2071 WTI crude oil down $1.70 to $74.26 US 10-year yields down 13.3 bps to 4.56% AUD leads, EUR lags Welcome to the new month, same as the old month. The mood was to buy everything and sell oil, same as

Gold made minor recovery after initial jitters which saw yellow metal slipping in the red in the opening trade on Friday. MCX February gold futures were trading at Rs 62,670, up by Rs 30 or 0.05% from the Thursday closing price. Meanwhile, the March Silver futures were trading at Rs 77,618 per kg, higher by

Canadian Dollar is firming slightly up in early US session, bolstered by stronger-than-expected Canadian job growth data. Despite the weakness in oil prices following disappointment over OPEC’s production cut decisions, Loonie is displaying resilience. However, in the weekly performance chart, while Canadian Dollar is outshining Australian Dollar, it still lags behind the New Zealand Dollar

Reuters had a few snippets on the upcoming Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, i.e. OPEC+ meeting this week (begins on November 30). Citing an unnamed OPEC +source the article says that OPEC+ is looking at deepening oil production cuts: said he expected there to be an option for

In the realm of investment, Sovereign Gold Bonds (SGBs) have emerged as a game-changer, heralding a paradigm shift by transforming paper gold into a bona fide and recognized asset class in India. As the first tranche of these bonds approaches maturity on 30th November 2023, it not only marks a significant milestone but also reflects

As US session commences, Dollar is showing a more notable downturn following a rather uneventful day. In the background risk sentiment is steady, with investors and traders largely holding their positions in anticipation of key economic data releases. The upcoming PCE inflation data on Thursday and ISM manufacturing data on Friday are particularly crucial. These

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Moderating inflation and the likelihood of no further rate hikes by the US Federal Reserve is boosting the appeal of gold which has shot up to three week highs. On Thursday, the yellow metal traded with a positive bias, aided by a weak dollar. Taking cues from the international prices, MCX December gold futures opened

PMI data are the main drivers in the forex markets today, particularly lifting Sterling and, to some degree, Euro to higher positions. The bounce in Sterling is chiefly attributed to UK services sector bouncing back into expansion territory, a sign of economic resilience. Additionally, the severity of manufacturing recession in UK seems to be diminishing,

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not

Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6

Dollar notably emerged as the weakest performer among global currencies last week. This decline was primarily driven by robust risk-on sentiment pervading global markets and noticeable dip in treasury yields, not just in the US but globally. A key factor influencing this trend is the growing belief among investors that most major central banks, including

The major US indices are closing the day higher. However, the broader indices in particular are well off their intraday highs: Dow Industrial Average rose 163.51 points or 0.47% at 34991.22. At session highs, the index was up 223.39 points. S&P index rose 7.18 points or 0.16% at 4502.89. At session highs, the index was

Gold extended gains on Wednesday buoyed by a weaker dollar index (DXY) which slipped below the 105 mark after US inflation data showed a slowing trend bolstering views that the US Federal Reserve is likely done with its rate-hike campaign. The December gold futures were trading at Rs 60,195 per 10 gram, down by Rs

Dollar remains subdued in the aftermath of its significant selloff triggered by CPI release overnight. Market sentiment has swiftly shifted, with the majority now almost ruling out the possibility of further rate hikes by Fed. This shift indicates a growing consensus that current federal funds rate of 5.25-5.50% marks the peak of this cycle. Moreover,

High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all your initial investment; do not