DOLLAR STRENGTH
Gold Price Today: Gold opens flat at Rs 71,689 per 10 gram, silver trades at Rs 89,867/kg
Gold and silver prices remain stable but cautious as markets await speeches from Fed Chair and ECB President. Manoj Kumar Jain predicts price volatility this week.
Rupee falls 11 paise to 83.45 against US dollar
The central government's fiscal deficit reached 3% of the annual estimates by May-end 2024-25. India's forex reserves surged to USD 653.711 billion, with FIIs selling shares worth Rs 23.09 crore. The RBI confirmed the increase in reserves, reflecting a positive economic outlook.
Rupee falls 9 paise to 83.43 against US dollar in early trade
The healthy expansion in infrastructure sectors' growth in May was driven by the production of coal, natural gas, and electricity, amidst rising crude oil prices impacting the rupee and positive equity market sentiment.
Asian shares head for five-month winning streak; yen slides
Asian stocks rise on Fed rate cut hopes and U.S. inflation worries. AI boom drives Wall Street to record highs. Yen hits 38-year low, impacting Japanese markets. Gold market pressured by strong dollar.
Dollar barges past 161 yen and eyes quarterly rise
Amid currency fluctuations and economic indicators, market dynamics are influenced by the U.S. personal consumption expenditures price index and the Federal Reserve's preferred inflation measure, shaping expectations and trading behaviors.
Asian shares eye five-month winning streak; yen buckles under dollar strength
Friday is packed with risk events for markets after a relatively subdued rest of the week, with U.S. Democratic President Joe Biden and his Republican rival Donald Trump set to take the stage at 0100 GMT for their first debate of the year ahead of November's U.S. presidential elections.
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Oil edges higher on inventory drawdown outlook, Middle East risks
Oil prices inched up on Wednesday nearing their highest level in almost two months, driven by forecasts for an eventual inventory drawdown during the third quarter peak summer demand season and geopolitical risks from the Middle East conflict.
Gold Price Today: Yellow metal opens at Rs 71,515/10 grams, silver down by Rs 2,000 this week
Amidst market fluctuations, following Manoj Kumar Jain's guidance, consider selling gold around Rs 71,650 with a stop loss at Rs 71,860. Expect volatile movements in gold and silver prices this week, influenced by factors like the dollar index and upcoming U.S. economic data. Stay informed to navigate the changing market landscape effectively.
Steady dollar sends yen to the brink of 160
Market dynamics shift as USD/JPY nears significant levels, affecting currency movements and trade volumes. Analysts closely monitor key economic indicators for potential policy shifts amid global uncertainties.
Gold Price Today: Yellow metal trades flat; silver down by Rs 2,400
MCX gold August futures fell by Rs 151 in June while silver MCX July futures dropped by Rs 6,390. Prices showed high volatility due to U.S. housing data and dollar index strength.
Dollar edges higher, buoyed by monetary policy imbalance
The dollar strengthened against major currencies on positive U.S. economic data. U.S. business activity surged in June, easing inflation concerns. Dollar index rose to 105.81, erasing weekly declines. Thierry Wizman predicts continued dollar strength amid European political uncertainty.
Gold Price Today: Yellow metal prices rise by Rs 700 this week, silver at Rs 91,420/kg
MCX August futures for gold started the week at Rs 72,693 per 10 grams, marking a gain of Rs 720 (1%). Meanwhile, MCX July futures for silver opened at Rs 91,420/kg, increasing by Rs 2,300 (2.6%) over the week.
Dollar extends gains against yen with US economic strength in focus
The dollar strengthened against the yen, euro, and sterling amidst U.S. economic concerns and central bank actions. Bitcoin price rose to $65,105 amidst market fluctuations.
Rupee at new low of 83.65 on strength in greenback
The Indian rupee weakened to a record low against the US dollar due to broad gains in the American currency and corporate outflows. The Reserve Bank of India intervened but refrained from significant action. The Chinese Yuan's weakness and corporate outflows also contributed to the rupee's decline, as noted by Shinhan Bank's vice-president.
Rupee rises 7 paise to 83.48 against US dollar in early trade
Rupee appreciates 7 paise to 83.48 against the US dollar, supported by foreign capital inflow and positive equity market sentiment; dollar index up at 105.01; Brent crude down to USD 84.14 per barrel.
Dollar or other currencies? How the US is daring the world to find a dollar alternative
The United States is challenging its own foundations as the world's reserve currency with attacks on the legal system following Donald Trump's conviction. Despite growing consternation, no credible alternative has emerged. The dollar's dominance stems from U.S. democratic principles, but threats loom as sanctions and political turmoil test its credibility.
Oil slips on dollar's strength from US jobs data
Oil prices slipped on Monday due to a stronger dollar and delayed interest rate cuts following strong U.S. jobs data. Developments in Iraq, including progress in oil export talks with the Kurdistan region, impacted market sentiment.
Asian shares retreat as investors question US economic strength
Asian share markets weakened as U.S. economy's 'exceptionalism' unravels with weakening manufacturing activity. MSCI's Asia-Pacific index down 0.1%. U.S. Treasury yields fall after weak manufacturing data. Westpac economist Coombs sees market pricing 40 basis points rate cuts by 2024.
IT firms trim bench strength; GCCs focus on compliance
Happy Thursday! The country’s top IT firms have seen a massive drop in their bench strength, i.e. employees not on active projects. Find out why and more in today’s ETtech Morning Dispatch.
Gold Price Today: Yellow metal opens below Rs 72,000/10 grams, while silver flat at Rs 90,591kg
Gold prices on the MCX for June futures contracts slipped by Rs 126 or 0.18% to reach Rs 71,451 per 10 grams amid a backdrop of escalating treasury yields and profit booking.This decline in gold prices marks its most significant weekly drop of the year, following a record high earlier in the week.
Gold slips to over one-week low on hawkish Fed, US data
Gold prices fell on Thursday due to concerns over U.S. rate cut timings and strong U.S. business activity, with spot gold declining 1.4% to $2,346.07 per ounce. This was its lowest since May 14, as of 1557 GMT.
Gold Price Today: Yellow metal drops over Rs 600 per 10 grams; silver dips Rs 1800/kg
Gold Price Today: Gold and silver prices fluctuated with MCX June futures down 0.85% and July silver contracts down 1.9%. Gold rose 18% this year due to central-bank purchases and strong demand from Asia despite higher Treasury yields and hawkish comments from Federal Reserve officials. The US Dollar Index was near 104.67.
Gold Price Today: Gold opens at Rs 72,884/10 grams, while silver at Rs 87,155/kg
Gold prices on MCX dip slightly amid hopes for Fed rate cuts. Despite Thursday's loss, gold remains steady, set for second weekly gain. Silver outperforms gold, up 25%. US Dollar Index rises.
Gold Price Today: Yellow metal prices shoot above Rs 73,000/10 grams; silver rises over Rs 87,000/kg
Gold Price Today: Gold prices on MCX for June futures opened flat at Rs 73,100 amid rate cut hopes. MCX July silver contracts rose. Dollar weakened on possible Fed rate cuts after an inflation report. Spot gold in the U.S. markets rose to $2,388.10. Neha Quereshi's analysis showed a bullish trend with support and resistance levels.
Gold Prices Today: Gold opens at Rs 72,365/10 grams, silver above Rs 85,000/kg
Gold futures on MCX traded flat ahead of US inflation data, with June contracts inching up 0.09% to Rs 72,365/10 grams. Meanwhile, MCX Silver July contracts rose 0.18% to Rs 85,569/kg. The expected moderation in US inflation may hint at potential Federal Reserve rate cuts, supporting gold prices.
Oil extends decline on signs of weak fuel demand, strong dollar
Brent crude futures slid 26 cents, or 0.3%, to $82.53 a barrel by 0025 GMT while U.S. West Texas Intermediate crude futures was at $78.03 a barrel, down 23 cents, or 0.3%.
Gold eases as steady dollar dampens appeal
The dollar edged up 0.1% against its rivals. A stronger dollar makes greenback-priced gold more expensive for buyers holding other currencies.
Surging dollar set for weekly gain as US data, Fed push back on rate cuts
The yen was last little changed at 154.61 per dollar, languishing near a 34-year low and not far from the 155 level which traders see as a new line in the sand that would prompt an intervention from Tokyo.
Oil prices ease on Gaza ceasefire possibility, dollar strength
Brent crude futures fell 18 cents to $85.60 a barrel by 0011 GMT. U.S. crude futures shed 19 cents to $80.88 per barrel.
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