Representative image Gold reversed its course to trade lower on August 11 in the international markets as hawkish remarks from US Federal Reserve officials dampened hopes of a let-up in aggressive policy tightening after tame inflation data. Spot gold was down 0.3 percent to $1,788.39 per ounce by 3:34 p.m. ET (1934 GMT). It had risen to its highest since July 5 after the consumer price index (CPI) data. At 9:44am, gold contracts were trading 0.3 percent lower on the Multi-Commodity Exchange ( MCX ) at Rs 52,085 for 10 grams and silver shed 0.74 percent at Rs 58,525 a kilogram. Track Live Gold Prices Here Trading Strategy Close Tapan Patel, Senior Analyst (Commodities), HDFC Securities Gold prices traded weak on Thursday with COMEX Spot gold prices were trading 0.36 percent down near $1785 per ounce in the morning trade. Gold prices retreated after US inflation data eased recession worries. The weaker dollar capped downside for the day. We … [Read more...] about Gold prices today: Experts expect precious metal prices to remain volatile; support for gold around Rs 52,040-51,810
14th week of pregnancy what to expect
Gold eyes fourth straight weekly gain on dollar weakness
Gold prices inched lower on Friday but were still on track for a weekly rise, as an overall weakness in the dollar offset pressure from an uptick in bond yields and expectations of further rate hikes from the U.S. Federal Reserve. Spot gold was down 0.2% at $1,786.06 per ounce, as of 1200 GMT. Bullion was still headed for its fourth straight weekly gain, up nearly 1% in its longest weekly rally in almost a year. U.S. gold futures fell 0.3% to $1,801.10. The dollar edged 0.4% higher on the day, but was down about 1% for the week. A weaker greenback makes bullion less expensive for overseas buyers. "Inflation easing a little has aided gold's rally to $1,800. But risk assets were quickly preferred and gold's rally stalled. If risk appetite fades over the next couple of weeks, that could support a move above $1,800," OANDA analyst Craig Erlam said. [MKTS/GLOB] Close Market participants have toned down expectations of an aggressive rate hike by the Fed after … [Read more...] about Gold eyes fourth straight weekly gain on dollar weakness
Oil prices slip on cloudy demand outlook, but poised for weekly gain
Oil prices dropped in Asia trade on Friday amid an uncertain demand outlook, though benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 49 cents, or 0.5%, to $99.11 a barrel at 0330 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 50 cents, or 0.5%, to $93.84 a barrel. Brent was on track to climb more than 4% for the week, recouping part of last week's 14% tumble, its biggest weekly decline since April 2020 amid fears that rising inflation and interest rate hikes will hit economic growth and fuel demand. WTI was heading for a weekly gain of more than 5%, recouping about half of the previous week's loss. Uncertainty capped price gains as the market absorbed contrasting demand views from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA). Close "While the peaking-inflation narrative has given some traction for risk assets lately, the more measured … [Read more...] about Oil prices slip on cloudy demand outlook, but poised for weekly gain
Appeals Court Blocks Florida Minor From Getting An Abortion
Share to Twitter Share to Linkedin Topline A Florida appeals court affirmed Monday a lower judge’s ruling that a 16-year-old minor in the state cannot get an abortion, based on a law requiring parental consent for minors, forcing the teenager to carry her pregnancy to term as such consent laws come under increasing scrutiny in the wake of the Supreme Court overturning Roe v. Wade. Key Facts A three-judge panel at the First District Court of Appeals in Florida sided with a circuit court judge in Escambia County, who ruled that the plaintiff “had not established by clear and convincing evidence that she was sufficiently mature to decide whether to terminate her pregnancy,” as Florida law requires. The state’s parental consent law , enacted in 2020, lets minors seek a “judicial bypass” and get court permission to get an abortion if they can’t get consent from a parent or guardian. The judges said their decision was based on the fact that … [Read more...] about Appeals Court Blocks Florida Minor From Getting An Abortion
Florida Court Rules Parentless Teen Is Not ‘Mature’ Enough To Seek Abortion
A Florida court ruled Monday that a pregnant, parentless teenager was not “mature” enough to decide terminating her pregnancy on her own. The three-judge panel in Florida’s First District Court of Appeal sided with a previous ruling Aug. 10 by Circuit Judge Jennifer Frydrychowicz affirming the 16-year-old was not “sufficiently mature to decide whether to terminate her pregnancy,” NBC News reported . The teen was 10 weeks pregnant at the time, according to the outlet. The ruling, made by Judges Harvey Jay, Rachel Nordby, and Scott Makar, states the teen “had not established by clear and convincing evidence that she was sufficiently mature to decide whether to terminate her pregnancy,” according to NBC News. A pregnant and parentless 16-year-old in Florida may be forced to give birth after an appeals court ruled she was not “sufficiently mature to decide whether to terminate her pregnancy.” https://t.co/fJyRB2SJXX — NBC News (@NBCNews) August 17, 2022 Makar … [Read more...] about Florida Court Rules Parentless Teen Is Not ‘Mature’ Enough To Seek Abortion
NZ central bank signals aggressive tightening pace after 50-bps hike
Pedestrians walk near the main entrance to the Reserve Bank of New Zealand located in central Wellington, New Zealand. REUTERS/David Gray/File photo WELLINGTON -New Zealand’s central bank on Wednesday delivered its seventh straight interest rate hike and signaled a more hawkish tightening path over coming months to rein in stubbornly high inflation. The aggressive tone of the Reserve Bank of New Zealand’s (RBNZ) statement warning of future hikes being brought forward caught some traders by surprise, lifting the local dollar and sending swap rates higher. The RBNZ raised the official cash rate (OCR) by 50 basis points to 3 percent as expected, a level not seen since September 2015, and crucially, it now sees rates at 4 percent by early next year, compared to a previous projection of 3.7 percent. Wednesday fourth straight 50-bps hike, along with earlier smaller increases that lifted the cash rate from a record low of 0.25 percent in October, marked the most aggressive tightening … [Read more...] about NZ central bank signals aggressive tightening pace after 50-bps hike
Oil prices recover from 6-month lows after drop in US stockpiles
Oil prices rose on Wednesday, recovering from six-month lows hit the previous day, as a larger-than-expected drop in U.S. oil and gasoline stocks reminded investors that demand remains firm, if overshadowed by the prospect of a global recession. Brent crude futures rose 13 cents, or 0.1%, to $92.47 a barrel by 0035 GMT. West Texas Intermediate (WTI) crude futures climbed 27 cents, or 0.3%, to $86.80 a barrel. The contracts slumped about 3% on Tuesday as weak U.S. housing starts data spurred concerns about a potential global recession. "A drawdown of U.S. gasoline stockpiles for a second straight week has reassured investors that demand is resilient, prompting buys," said Kazuhiko Saito, chief analyst at Fujitomi Securities Co Ltd. "Still, the oil market is expected to stay under pressure, with fairly high volatility, due to worries over a potential global recession," he said. Close U.S. crude and fuel stocks fell in the latest week, according to market sources … [Read more...] about Oil prices recover from 6-month lows after drop in US stockpiles
Dollar trend to be key factor for commodities as Fed’s rate tightening debate intensifies
Commodities saw another strong weekly finish indicating that the buyers have re-entered after a brief break earlier this month. Weakness in the US dollar index, improved risk sentiment and supply issues have lent support to commodities. We saw a rally across commodities indicating broad-based buying, however, there were few highlights. Gold breached the pivotal $1,800 per troy ounce level and tested 1-month high; Zinc zoomed to 2-month high while copper topped $8,000 per tonne level; crude oil recovered more than 9 percent from February lows set late last month. The US dollar index slumped to six-week low amid increasing debate about Fed’s monetary policy. Improved risk sentiment also reduced its safe haven appeal. The Fed’s meeting by meeting approach has caused uncertainty in the market and market players are looking at US economic numbers and central bank comments to gauge the central bank’s next move. Also read - CCI nod for merger of HDFC Bank, HDFC Ltd Close … [Read more...] about Dollar trend to be key factor for commodities as Fed’s rate tightening debate intensifies
Londoners are better off returning to the office as bills soar
- A + A LONDON (Aug 17): City of London workers looking to save money may want to embrace the office over winter, as the cost of working from home soars alongside energy bills. Those prepared to go into the office every day could save about £50 (US$60) per week in January 2023 if they can walk, run or cycle into their workplace. That’s thanks to the money they’ve saved by not heating a home for the whole day, according to estimates by price comparison site Uswitch. Those working from home in January could expect to pay around £175 a week in energy costs and other incidentals included in Bloomberg ’s calculations such as buying in your own coffee, a freebie in many offices. The combined cost of energy bills — factoring in the lower consumption expected — and five return trips on the Tube from London’s Zone 4 would be about £160 a week in January 2023, a £15 saving. For those taking the bus, the total cost is about £140, a £35 weekly saving. In both cases, any rise … [Read more...] about Londoners are better off returning to the office as bills soar
Wall St drops as growth stocks slide, Target weighs on retail shares
- A + A BENGALURU (Aug 17): Wall Street's main indexes fell on Wednesday as growth stocks came under pressure after bond yields climbed ahead of minutes from the Federal Reserve's (Fed) July meeting, while weak results from Target dragged the retail sector lower. Retail earnings have been mixed so far this week, with Target Corp falling 3.3% after reporting a 90% slump in quarterly earnings as its inflation-hit customers reined in spending on discretionary goods. The S&P 500 retail sector declined 1.7%, after jumping 1.9% in the previous session on encouraging quarterly earnings from Walmart Inc and Home Depot Inc. Data showed US retail sales were unchanged in July as declining gasoline prices weighed on receipts at service stations. However, consumer spending appeared to be holding up, which could further ease fears the economy was in recession. High-growth and technology stocks such as Amazon.com Inc and Nvidia Corp fell more than 2.5% each as US Treasury … [Read more...] about Wall St drops as growth stocks slide, Target weighs on retail shares