Silver prices continued trading upside for a third consecutive week. Despite Senate testimony by the Federal Reserve’s supervisory chief Michael Barr not expanding on contagion worries about the U.S. banking crisis unearthed three weeks ago, prices were able to gain more than half percent since the start of the week.
Crude oil witnessed more than 4% gain yesterday. It made a day’ high of 5999 and settled at 5978. As disruption of half a million barrels a day of Kurdish supply, nuclear war talk by Russia’s Vladimir Putin and assurances about the crisis-hit U.S. banking sector helped boost risk-on appetite
Jitters about the banking crisis in the United States has sent the GOLD prices to a time high last week. Gold prices rose above 60K as after, dollar headed for its longest losing streak in 2-1/2 years after the U.S. Federal Reserve sounded close to calling time on interest rate
Gold prices were trading neutral since morning. Yellow metals posted its strongest weekly gain in two months as fears of a potential banking crisis drove up safe haven demand. Bullion prices also benefited from doubts over whether the Federal Reserve had enough headroom to keep raising interest rates, given the
Gold prices witnessed a speculative jump yesterday. It tested six week high and settled with an intraday gain of 2.66%. That was the biggest single day gain after 1 July 2022. Now prices are struggling in between small ranges ahead of US CPI data. Prices of the yellow metal rallied
Since morning Gold prices have been trading in a tight range in the Comex division. As market players stayed on the slide line. Ahead of more cues on monetary policy from a today testimony by Fed Chair. Powell is set to testify before Congress at 8.30pm. Which will likely outline
Gold prices retreated slightly yesterday. Bullions saw some pressure after Eurozone Inflation figures and the US after unemployment claims data. The dollar strengthened after unemployment claims pointed to a strong U.S. jobs market. That along with other data showing growing labor costs indicates the Federal Reserve will keep interest rates
Silver prices remained under pressure as the dollar hit a six-week high on fears of a hawkish Federal Reserve. Now focus turning to upcoming economic data for more cues on the U.S. economy and monetary policy. Silver prices dipped after U.S. Federal Reserve meeting minutes showed policymakers are determined to use
As per our outlook given on 10 February 2023 proven accurate. GOLD prices dropped towards recent low 56083. Hit both predicted downside level 56400-56280 cmp 56188. Bullion depressed after US CPI data released yesterday. Now, major action is expect to come after Retail sales data, due to come later today.
GOLD witnessed more than 0.50% fall from the day’s high yesterday. GOLD future gave up its intraday gains, as traders weighed hawkish signals on monetary policy from the Federal Reserve, while copper prices retreated further amid growing uncertainty over a potential global recession. A slew of Fed officials spoke on
