NEW DELHI: The metal to bet on this year is silver. Commodity guru Jim Rogers says the white metal should at least double from here on. He also expects gold to revisit all-time high levels, as soon as the ongoing phase of weakness subsides. “I am not buying gold and silver now, as this correction
Domestic precious metal prices dropped on Wednesday tracking volatility in global markets ahead of the release of minutes of the US central bank’s last policy meeting. Profit booking was witnessed across commodities ahead of the key event, which may offer more clarity on interest rates in major economies, say analysts. The white metal suffered its
Dollar’s decline slowed in Asian session today, but remains generally weak, in particular against European majors. Though, indecisive risk sentiment is somehow limiting upside in commodity currencies, with Canadian Dollar following oil prices lower today. There is prospect of more volatility in the markets today, with consumer inflation data from UK and Canada featured. FOMC
Global equities are under selling pressure today with another round of rise in treasury yields. In particular, Germany 10-year yield jumped above -0.1% handle and hit the highest level since mid-2019. The development came after stronger than expected inflation reading from UK, which was later followed by Canada CPI. New Zealand Dollar and Australian Dollar
A real estate agent stands in the doorway as Giovani and Nicole Quiroz of Brooklyn, New York visit an open house in West Hempstead, New York on April 18, 2021. Raychel Brightman | Newsday LLC | Newsday | Getty Images Sky-high home prices mean demand for ever bigger mortgages, but those prices may also be
In this article HD LOW A customer pushes a shopping cart towards the entrance of a Lowe’s store in Concord, California, on Tuesday, Feb. 23, 2021. David Paul Morris | Bloomberg | Getty Images Lowe’s reported Wednesday that consumers are continuing to invest in their homes in the first quarter and it saw sales pick
In this article TGT Shoppers at a Target store in New York. Scott Mlyn | CNBC Target will report its fiscal first-quarter earnings on Wednesday before the bell. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates: Earnings per share: $2.25 Revenue: $21.81 billion The big-box retailer saw significant growth during the pandemic,
USD/CAD gained traction in the late American session. US Dollar Index remains on track to snap four-day losing streak. FOMC Minutes showed some policymakers are willing to discuss adjustments to asset purchases. The USD/CAD pair pushed higher in the late American session and touched a daily top of 1.2132 fueled by the renewed USD strength. As
AUD/USD is on the back foot following the Federal Open Market Committee’s minutes. At the time of writing, AUD/USD is down 0.93% having travelled from a high of 0.7797 to a low of 0.7716. The minutes showed that there are prospects for adjustments to the pace of purchases if the economy continues to make rapid progress towards
Encouraged by Iran nuclear talks The price of crude oil has fallen sharply below its 100 and 200 hour moving averages. See Adam’s post here for the news triggering the fall. The price of WTI crude oil futures fell down toward the $64 level (the low reached $64.11). In the process, the 100 /200 hour MAs were
US vaccination rate in the US is at 37% with at least 1 dose at 48% Canada PM Trudeau on vaccinations is saying that 75% is key for reducing restrictions. Well I guess the US is jumping the gun at 37% fully vaccinated and 48% with at least one dose. In my state, the visit to Costco yesterday had about
Bitcoin may have lost 35% since its all-time highs of $64,500, but its current price is actually “logical.” That’s according to veteran analyst John Bollinger, creator of the Bollinger bands trading indicator. Bollinger: Current price action “can tell a lot” In a tweet on May 18, Bollinger, who is well known as a source of
LONDON: Most industrial metals prices rose on Tuesday as investors betting on a long period of low interest rates bought riskier assets, pushing global stock markets higher and dragging the dollar to its weakest since February. The weaker greenback helps dollar-priced metals by making them cheaper for buyers with other currencies. Benchmark copper on the
Dollar’s selloff intensifies today as risk-on sentiment is slowly coming back to the markets. Yen is following as the next weakest. European majors are currently the main winners. Commodity currencies are somewhat lagging behind. In other markets, European indexes are trading slightly higher while US futures also point to higher open. Gold and oil prices
Secretary of the Treasury Janet Yellen speaks during a daily news briefing at the James Brady Press Briefing Room of the White House May 7, in Washington, DC. Alex Wong | Getty Images Treasury Secretary Janet Yellen called on Tuesday for business leaders to pay higher taxes to support government stimulus spending, and backed stronger
In this article WMT People talk outside a Wal-Mart Pickup-Grocery store in Bentonville, Arkansas. Rick Wilking | Reuters Walmart is set to report its fiscal first-quarter earnings before the bell on Tuesday. Here’s what Wall Street is expecting, according to Refinitiv consensus estimates: Earnings per share: $1.21 Revenue: $131.97 billion The discounter’s results will show
Update: Gold price remains on the front foot near the four-month top, up 0.20% around $1,871, as European traders prepare for Tuesday’s bell. The gold buyers initially cheered a jump in the US Treasury yields to refresh multi-day high before recently respecting the downbeat US dollar. It should, however, be noted that the greenback bears
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