Gold Prices Steadied Above A Major Support Level On Monday As Growing Risks Of An Economic Recession Spurred Some Safe Haven Demand For The Yellow Metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop Spot gold rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce by 20:31 ET (00:31 GMT). Prices of…
Gold Prices Steadied Above A Major Support Level On Monday As Growing Risks Of An Economic Recession Spurred Some Safe Haven Demand For The Yellow Metal. Prices also recovered marginally from a bruising September, where they dropped 3%. Bullion prices marked their worst quarter since March 2021 with a 7.5% drop Spot gold rose 0.2% to $1,663.99 an ounce, while gold futures were flat around $1,672 an ounce by 20:31 ET (00:31 GMT). Prices of…
"GOLD STEADIES ABOVE $1,650 AS SAFE HAVEN APPEAL CREEPS BACK IN" Aggressive rate hikes and posturing by the Federal Reserve in an effort to bring down inflation, and the return of a bear market for U.S. equities have contributed to the most pessimistic sentiment among investors all year, according to our most recent survey of our daily newsletter readers. The survey, fielded from September 20-27, captured our readers’ concerns and investing intentions amid a steep decline in both equity and bond prices that brought the S&P…
"Investor Sentiment on Thin Ice Amid Rate Hikes and Swoon in Stocks" Oil prices rose slightly on Friday, but were set for a fourth straight month of losses amid growing concerns over weakening demand, with focus now turning to a potential supply cut by the OPEC next week. London-traded Brent oil futures, the global benchmark, were flat at $87.50 a barrel by 21:55 ET (01:55 GMT), while U.S. West Texas Intermediate crude futures rose 0.4% to $81.56 a barrel. Both contracts were set to lose about 9%…
"OIL HEADS FOR FOURTH STRAIGHT MONTHLY LOSS AS OPEC MEETING LOOMS" The Union Cabinet has hiked Dearness Allowance (DA) of central government employees and pensioners by 4 percent under the 7th Pay Commission, The hike takes DA to 38 percent from current 34 percent of basic pay/pension. The Finance Ministry said that the central government employees and pensioners will become entitled to higher amount of Dearness Allowance (DA) and Dearness Relief (DR), respectively, w.e.f. July 1, 2022. Speaking at a press conference in New Delhi, the…
"GOVT HIKES DA BY 4% UNDER 7TH PAY COMMISSION; DETAILS HERE" Asian currencies plummeted on Wednesday, while the dollar surged to new 20-year highs on hawkish comments from Federal Reserve officials and growing safe haven demand. The dollar index jumped 0.4% to a new 20-year high of 114.68, while dollar index futures rose in a similar range. A broad market rout in risk-driven assets also drove safe haven demand for the greenback. Asian currencies fell sharply as hawkish comments from some Fed officials pointed to more…
"Asia FX Battered by Hawkish Fedspeak, Dollar Back at 20-Year Peak" However, there are challenges, and geopolitics is messy for which foreign investors are cautious, the CEA said. Chief Economic Advisor (CEA) V Anantha Nageswaran has said the Indian economy was on the path to recovery but cautioned that foreign investors may remain cautious because of geopolitical challenges. Speaking at a virtual seminar organised by Swadeshi Research Institute, he said all sectors of the economy such as agriculture, manufacturing and construction are “doing well”. “The Indian economy is…
"Indian economy showing resilience and recovery: CEA" Oil prices held near eight-month lows on Monday after falling sharply last week, as markets feared that slowing global economic activity will dent demand for crude. London-traded Brent oil futures rose 0.3% to $85.29 a barrel, while U.S. West Texas Intermediate futures were unchanged at $78.67 a barrel by 21:30 ET (01:30 GMT). Both contracts were trading just above their weakest level in eight months and were nursing steep losses from last week. Prices trimmed…
"Oil Prices Hover Near 8-Mth Low as Recession Fears Dent Outlook" Researchers found BNPL often relies on data collection and other consumer risks. The Consumer Financial Protection Bureau (CFPB) is gearing up to place the same type of stringent protections it places on credit card companies on the “Buy Now, Pay Later” (BNPL) industry, following the release of a recent study on the practice. Officials said their findings revealed an exploding industry that not only had few consumer guardrails and helped normalize debt, but had also…
"CFPB Study Outlines Need for “Buy Now, Pay Later” Rules" Gold prices steadied on Friday, and were set to end the week largely unchanged as selling pressure from a hawkish Federal Reserve appeared to have eased. Bullion prices showed surprising resilience this week after the Fed hiked rates and struck a more hawkish tone than many were expecting, with U.S. interest rates now set to end the year well above 4%, But prices of the yellow metal were still trading well below $1,700- a key…
"Gold Steadies Despite Rate Hike Headwinds, Set For Flat Week" Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst of rising price pressures may be in the past. Benchmark 10-year U.S. Treasury yields jumped to their highest level since 2011 on Monday as investors adjusted for the likelihood that the Federal Reserve will hike rates higher and for longer than previously expected as inflation remains near multi-decade highs. Data last week showed higher-than-expected consumer prices in August, dashing hopes that the worst…
"10-year yields highest since 2011 before expected Fed rate hike"
