The US Federal Reserve’s supersized interest rate cut by 50 basis points (bps) or (½) half a percentage point has triggered a robust rally in several commodity baskets, particularly gold prices, lifting its demand optimism. The much-awaited US Fed pivot has resulted in the US dollar and US Treasury yield being inversely proportional to gold … Read more
Asian equities were primed for muted moves following declines on Wall Street after the Federal Reserve’s half-point interest rate cut on Wednesday. Equity futures for Japan rose while those for Australia fell, with moves contained to less than 1%. The S&P 500 initially jumped to an all-time high before retreating to end the session 0.3% … Read more
Indian stock markets rebounded by the end of last week after caution due to the Hindenburg-Adani row and poor factory output data slid the indices into a consolidation phase. Week ahead, investors will eye upcoming domestic and global macroeconomic data, US Federal minutes of the meeting, Fed chief’s Jackson Hole speech, foreign fund inflow, crude oil … Read more
Indian stock market continued its record bull run picked up since June-end led by return of foreign inflows, albeit few phases of consolidation with the new earnings season. Bulls have tightened their grip on D-Street after a spectacular month-opening ahead of the Union Budget 2024 scheduled for later this month. In the third week of … Read more
The US Federal Reserve is poised to announce its key policy decision later today, with significant anticipation surrounding the central bank’s timing for potential interest rate cuts for the remainder of the year. In today’s decision, there is a near consensus that the Jerome Powell-led FOMC will maintain the interest rates at the target range … Read more
Gold prices were steady on Wednesday led by safe-haven demand amid the Middle East conflict partially offseting pressure from higher US Treasury yields. Spot gold price was at $2,383.29 per ounce, while US gold futures fell 0.3% to $2,399.60 per ounce. Spot silver rose 0.3% to $28.17 per ounce. MCX gold rate ended marginally lower … Read more