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.
The Indian rupee remained strong against the U.S. dollar last week. Major Asian currencies found support as the U.S. dollar continued trading weak. It falls after the Fed recent policy and on receding fears about the U.S. banking sector. Greenback weakened near its seven week low as traders contemplated the Federal
Bullion posted a slight gain yesterday, as returning confidence in the global banking sector weakened demand for this safe haven. MCX GOLD was up by 0.88% and settled at 59042. Comex Gold rose by 0.79%, and traded at $1973.30. Silver futures rose by 0.87% and settled at 70584. Comex Silver
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
Will Aluminium pause its recent fall? Aluminum prices were able to recover by 1.85% yesterday. Prices found support as authorities’ efforts to rein in worries over the global banking system helped calm investor nerves. And after the Euro and Pound gained slightly. The greenback had a neutral to slightly negative
How Japan CPI and US Consumer Confidence will impact market?? Yesterday, bullion gave up some gains after dollar rose to a two-day high against the Japanese yen. As authorities’ efforts to rein in worries over the global banking system helped calm investor nerves. Further, assurances over the crisis-struck U.S. banking
Market Update Ø The Bank of England raised borrowing costs by 25 bps on Thursday, in line with expectations, and said further tightening would be required if there were evidence of more persistent price pressures. Ø Sterling gained 0.24% against the dollar to $1.2299, after earlier touching a seven-week high
Most base metals prices sparked yesterday. Among industrial metals, copper prices jumped back to key levels on Thursday as fears of a banking crisis eased. Markets were also betting on a recovery in key importer China, as it reemerges from three years of COVID lockdowns. The Federal Reserve hiked interest
Silver prices posted more than 8.92% gain last week. That was the biggest weekly gain since 28 November 2022. Growing fears of a U.S. and European banking collapse spurred heavy flows into bullions prices. Further, weakness in the dollar amid bets that the Fed will lack the economic headroom to
Market Update – Rescue of Credit Suisse calm concerns of a banking crisis has resulted in abrupt recovery in Crude oil prices yesterday. Bullions prices retreated for a second consecutive day. The dollar fell Tuesday as traders reckoned banking stress could keep the Federal Reserve and the Bank of England from
