Last fed interest rate hike

A woman in Mumbai mistakenly gave away her bag of gold jewellery to a beggar (Representative Image) Gold prices edged up on Tuesday as the dollar eased, while investors kept a keen eye on posturing from major central banks on interest rate hikes for a clearer outlook for bullion. A weaker dollar makes greenback-priced bullion more attractive for buyers holding other currencies. [USD/] Spot gold was up 0.2% at $1,841.13 per ounce by 0200 GMT, after largely range-bound trading on Monday. U.S. gold futures firmed 0.1% to $1,842.90. However, benchmark U.S. 10-year Treasury yields rose, capping gains in zero-yielding gold. [US/] "The (gold) market is sitting tight as, after a historic week for global central banks; policymakers will get to explain the reasoning behind their decisions this week," said Stephen Innes, managing partner at SPI Asset Management. Close The U.S. Federal Reserve last week approved its largest interest rate increase in more than a quarter … [Read more...] about Gold inches higher as dollar dips; wider rate-hike narrative in focus

Gold, Gold prices, commodity prices Gold prices edged up on Tuesday in the international markets as the dollar eased, while investors kept a keen eye on posturing from major central banks on interest rate hikes for a clearer outlook for bullion. Spot gold was up 0.2% at $1,841.13 per ounce by 0200 GMT, after largely range-bound trading on Monday. US gold futures firmed 0.1% to $1,842.90. At 9.37am, gold contracts were trading 0.2 percent higher at Rs 50,836 for 10 grams on the Multi-Commodity Exchange ( MCX ), while silver added 0.46  percent to Rs 61,021 a kilogram. Gold and silver prices on Monday traded flat to negative and the price of the precious metal was struggling at a previous support zone as US markets were on holiday. In international markets gold settled at $1,840.60, down by 0.07% and silver was settled at $21.59, down by 0.20%. In domestic markets also gold settled at Rs 50,735 with a loss of 0.19% and silver settled at Rs 60744 with a loss of 0.32%, said … [Read more...] about Gold Prices Today: Yellow metal to stay range-bound amid volatile global markets; softer dollar to lend support

Representative Image Gold prices eased on Wednesday in the international markets as the dollar firmed up, although bullion still traded in a narrow range as investors awaited fresh cues from top central banks on their monetary policy plans, especially from the US Federal Reserve. Spot gold fell 0.3 percent to $1,827.03 per ounce by 0231 GMT, extending losses to a fourth straight session. US gold futures dropped 0.6 percent to $1,828.10. At 9.33am, gold contracts were trading 0.33 percent lower at Rs 50,595 for 10 grams on the Multi-Commodity Exchange ( MCX ), while silver was down 1.3  percent to Rs 60,476 a kilogram. Gold prices traded weak on Wednesday with spot gold prices at COMEX were trading 0.31 percent down near $1,828 per ounce in the morning trade. Gold prices fluctuated below $1840 per ounce struggling to find a way on stronger dollar despite of weaker bond yields. The market sentiments are mixed over recession worries and aggressive Fed stance, said Tapan … [Read more...] about Gold Prices Today: Experts see range-bound movement in yellow metal; support around Rs 50,200

- A + A SINGAPORE (June 26): The first hints that consumer belt-tightening is passing through to corporate earnings are coming in, posing a bigger risk to US equities than stock-selling by American households, according to Goldman Sachs Group Inc. High inflation and declining asset prices had started to strain household finances, Goldman strategists led by David Kostin wrote on Friday. They cited the 0.3% drop in retail sales in May and the record-low Michigan consumer sentiment reading for June. Retailers such as Target Corp and Walmart Inc appeared to have overestimated consumer demand in some general merchandise categories and were now discounting items to clear excess inventory, the strategists said. "Declining consumer spending does represent a threat to earnings for consumer discretionary stocks and the autos industry group in particular," they said. "Used car prices have declined 6% since January, a sign that demand for vehicles overall may be … [Read more...] about Goldman says signs are here of belt-tightening impact on profits

Oil pumping jacks, also known as "nodding donkeys", in an oilfield near Neftekamsk, in the Republic of Bashkortostan, Russia, Nov. 19, 2020. Photographer: Andrey Rudakov/Bloomberg Oil prices skidded in early trade on Wednesday amid a push by U.S. President Joe Biden to bring down soaring fuel costs, including pressure on major U.S. firms to help ease the pain for drivers during the country's peak summer demand. U.S. West Texas Intermediate (WTI) crude futures fell $1.34, or 1,2%, to $108.18 a barrel at 0031 GMT, while Brent crude futures dropped $1.33, or 1.2%, to $113.32 a barrel. As the United States struggles to tackle soaring gasoline prices and inflation, U.S. President Joe Biden is expected on Wednesday to call for temporarily suspending the 18.4-cents a gallon federal tax on gasoline, a source briefed on the plan told Reuters. Biden had disclosed on Monday he was considering whether to call for a pause in the tax. "Even oil traders acknowledged that higher oil … [Read more...] about Oil prices slide as Joe Biden pushes for US fuel cost cuts