HEIGHTENED TENSIONS
Pakistan equips JF-17 jets with Ra'ad nuclear missiles, US report confirms
Recently analyzed photographs from the 2023 Pakistan Day Parade rehearsals have unveiled Pakistan's JF-17 Thunder Block II aircraft equipped with a Ra'ad air-launched cruise missile (ALCM), as confirmed by the Federation of American Scientists (FAS).
Taiwan reports large Chinese incursion as tensions escalate
Taiwan reported that 18 Chinese People's Liberation Army (PLA) aircraft and 6 People's Liberation Army Navy (PLAN) vessels were detected operating around the island as of 6 am local time on Wednesday. Five of the PLA aircraft entered Taiwan's air defense identification zone (ADIZ), crossing the Taiwan Strait median line in the northern, southwestern, and eastern sectors.
Odisha Curfew: Section 144 imposed in Balasore after communal unrest; Here's what you need to know
Odisha Curfew News: Section 144 has been enforced in Odisha's Balasore after clashes erupted over suspicions of cow slaughter during a religious celebration. The conflict, stemming from a protest against animal sacrifice, quickly escalated into violence across several areas. Authorities have arrested multiple individuals and implemented measures to restore peace, including curfew and internet suspension. Despite these efforts, sporadic violence persists, emphasizing the need for continued vigilance in the region.
Taiwan detects 10 Chinese ships, six military aircraft around nation
Taiwan's Ministry of National Defence detected Chinese military aircraft and naval vessels. Grey zone tactics used by China around Taiwan have increased tensions since Lai Ching Te became the new President of Taiwan. Taiwan responded by deploying aircraft, navy ships, and coastal-based missile systems to monitor PLA activity. Tensions between China and Taiwan remain high.
Silver continues to glitter, hits lifetime high of Rs 97,100 per kg
Silver prices hit a lifetime high levels of Rs 97,100 in the local market on Wednesday, while gold prices rose Rs 250 in line with strong trends in the overseas markets, according to HDFC Securities.
Gold prices today: Gold opens at Rs 72,203 per 10 grams; silver up by Rs 5,100 in last 3 days
Gold steadied on MCX with June futures opening at Rs 72,203 per 10 grams, while silver rose to Rs 95,670/kg. Commodities stabilize amidst geopolitical tensions and US PCE deflator data anticipation.
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Gold prices back in limelight after mild correction
Gold prices have surged both globally and domestically, nearing the significant psychological level of $2,500 per ounce on the London spot market, representing a year-to-date increase of almost 17%. This momentum is reflected in the Indian market as well, with MCX futures prices exceeding ₹74,000 per ten grams.
RBI buys 1.5 times more gold in January-April than whole of 2023
The Reserve Bank held 827. 69 tonnes worth of gold as a part of its foreign exchange reserves as of April 26,2024, up from 805 tonnes as of end December according to the latest Reserve bank of India data.
5 world market themes for the week ahead
Markets are hoping for evidence that will solidify a brightening global economic outlook, though rising trade tensions are casting a cloud, while G7 finance ministers gather in Italy.
Forty-five Chinese aircraft, 6 vessels detected near Taiwan, tensions rise
According to official statements released on Wednesday, a total of 45 PLA aircraft and 6 vessels from China's People's Liberation Army Navy (PLAN) were detected operating near Taiwan as of 6 am local time. Of particular concern was the intrusion into Taiwan's Air Defence Identification Zone (ADIZ) by 26 aircraft, which crossed the median line, venturing into the northern and southwestern sectors of Taiwan's airspace.
Amid high stock market volatility, BJP's Amit Shah shares a big share market buying tip
Amid stock market volatility, Union Home Minister Amit Shah highlights the influence of stable governance on market performance, hinting at post-election upsurge. With elections ending June 4, Shah dismisses rumors linking market crashes to BJP's performance, urging confidence in pre-June 4 investments. He emphasizes the correlation between political stability and market positivity. India's VIX hits a 52-week high amidst investor concerns over election outcomes, influencing market trends.
Gold Price Today: Yellow metal opens above Rs 72,000/10 grams; silver at Rs 84,637/kg
Gold prices held steady on Monday as investors awaited key U.S. inflation reports, which could shed more light on the timing of the Federal Reserve's first rate cut.
Taiwan reports surge in Chinese military activity near island
Taiwan's Ministry of National Defence reported a significant presence of Chinese military aircraft and vessels near Taiwan, with 15 PLA aircraft and 6 PLAN vessels observed. Of particular concern was the breach of Taiwan's SW ADIZ by 9 aircraft. Taiwan's Armed Forces closely monitored the situation and responded accordingly. This development underscores escalating tensions between Taiwan and China, with Beijing considering Taiwan a renegade province. The increased activity comes amid growing geopolitical tensions, with China intensifying its "grey zone tactics" near Taiwan.
Gold prices rally ahead of Akshaya Tritiya. What investors should know?
The precious metal has surged approximately 20%, hitting a record high of $2,431 per ounce in the international market on April 12 and exceeding Rs 74,000 in the Indian market due to strong purchases by central banks and demand from retail investors amid growing geopolitical tensions.
Interest rates may stay higher than expected in 2024-25: World Bank report
World Bank predicts high interest rates in 2024 and 2025 due to stable commodity prices. Geopolitical tensions and US rates influence RBI decisions. Commodity-price spikes pose inflation risks, challenging progress made in reducing inflation over the past two years.
Good times for merchants of death
Global defence industry shifts as US dominates amid conflicts. Countries pursue local production due to US unreliability. China, India aim for self-sufficiency, unsettling arms market. Sanctions distort trade, favoring US. Merchants profit in turbulent times.
As tensions mount in Red Sea, freight charges, insurance premiums may surge further
Heightened tensions between Iran and Israel are expected to increase freight charges and insurance premiums for shipping vessels on global routes. Ships bound for western European countries and the US are particularly at risk. Freight rates have already risen by about $100 per container for ships going through the Red Sea due to disruptions and capacity constraints. War risk insurance premiums, which were previously around 0.05% of the insured value of the vessel, have now increased to between 0.75% and 1%.
OIS climb hints at rate hike now, crushes hopes of a cut
Given the declining trajectory of local inflation - particularly core inflation - it is unlikely that the Reserve Bank of India would turn to rate hikes after maintaining a status quo on rates for more than a year. What the rise in swap rates show more than anything else is heightened risk aversion and the damage done to rate cut expectations by the abrupt ratcheting up of tensions in the Middle East.
Wider conflict in the Middle East may lead to rise in inflation: BoB Report
Tensions between Israel and Iran have created uncertainty and volatility in global markets. Asian markets are down, currencies are weaker, and oil prices have risen. India's Sensex has declined in the past four sessions, affecting consumer durables and banking stocks. The 10-year yield in India initially remained flat but is now higher at 7.21%, reflecting concerns over Middle East tensions.
Should send rockets not at each other, but rather to the stars: Elon Musk amid heightened Israel-Iran tensions
After reports of Israeli strikes on Isfehan city in Central Iran, Tesla CEO Elon Musk suggested redirecting rockets to space instead of using them for conflict on Earth. Israel reportedly launched missile strikes against Tehran early Friday morning, although confirmation of strikes in Syria and Iraq was not provided by a senior US official.
What impact will escalated tensions in Western Asia have on oil prices? Vandana Hari answers
So, all that we can expect in the coming hours is a lot of volatility. Well, the new fear premium that has crept into crude will more or less remain intact but expect even heightened volatility.
Rs 3 lakh cr m-cap wiped off! Sensex plunges 600 pts, gives up 72K as Mideast conflict intensifies
Benchmark equity indices open lower mirroring Asian markets on geopolitical tensions. Sensex down 598 points, Nifty50 down 181 points. Infosys lags with 3% decline, lower annual revenue forecast. NTPC, L&T, Axis Bank, Power Grid down.
benchmark bond yield at near 3-month high amid Mideast tensions
Indian government bond yields ended higher on Tuesday, with the benchmark bond yield touching a near three-month peak, on worries over the heightened conflict in the Middle East and receding bets of an early U.S. rate cut.
Crypto market rebounds as Bitcoin recovers from Iran-Israel tensions
The crypto market also declined after the recent data have not been helpful, with inflation stalled well above the U.S. central bank's 2% target for the first quarter of the year.
Canada pulls staff from consulates in India. Will your visa application be affected?
Due to the tense diplomatic ties between India and Canada—which were further heightened by Prime Minister Justin Trudeau's claims that Indian agents may have played a role in the murder of Khalistani separatist Hardeep Singh Nijjar—India requested that Ottawa reduce its diplomatic staff in India in order to achieve parity.
Regional tensions escalate as Iran threatens reprisals over Israeli strike on embassy; Here's what we know so far
Tensions have heightened between Israel and Iran after the assassination of a top Iranian commander at the Iranian embassy in Damascus. While Israel has not officially claimed responsibility, the incident has raised security concerns and the possibility of retaliatory actions, with both US and Israeli officials taking threats from Tehran seriously.
Post-Apocalyptic Vision: How a US-North Korea nuclear war could reshape the world as per new theory
North Korean leader Kim Jong Un's recent statements indicate a firm stance on the geopolitical stage, asserting readiness for conflict while avoiding an intention to start a war. This comes amidst heightened tensions with South Korea and reports of Pyongyang strengthening ties with Moscow. Additionally, a hypothetical scenario outlined in a new book presents a chilling narrative of a nuclear conflict between North Korea and the United States, highlighting the catastrophic global consequences such a scenario could entail.
South Korea launches its 2nd military spy satellite amid animosities with North Korea
South Korea launches its second military spy satellite following North Korea's reaffirmed plans for multiple reconnaissance satellite launches this year. The satellite, launched from the Kennedy Space Center in Florida, aims to enhance monitoring capabilities. South Korea plans to launch five spy satellites by 2025 under a contract with SpaceX. Meanwhile, North Korea, which launched its first spy satellite in November, seeks its own space-based surveillance network to counter perceived military threats. The U.N. prohibits North Korea's satellite launches, viewing them as disguised tests of long-range missile technology, escalating tensions on the Korean Peninsula.
Oil falls ahead of US jobs data, caution on interest rates
Brent futures for June fell by 43 cents, or 0.5%, to $88.92 a barrel by 12:15 p.m. EDT. Investors are analysing macroeconomic data and monetary policy for potential clues on the outlook for oil demand.
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