New Delhi, July 20 (IANS) Gold and silver prices traded higher on Monday, supported by value buying after the US dollar eased slightly, although elevated crude oil prices kept investors cautious amid expectations of another US Federal Reserve rate hike.On the Multi Commodity Exchange (MCX), gold futures for August delivery rose as much as 0.52 per cent or Rs 743 to hit an intraday high of Rs 1,41,649 per 10 grams at 11:45 am.At the last count, the yellow metal was trading at Rs 1,41,254, up Rs 3…
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Kolkata, July 11 (IANS) A Bangladeshi national has been arrested for allegedly running a cross-border syndicate that smuggled stolen mobile phones and laptops from Kolkata to Bangladesh after entering India on a medical visa, the Kolkata Police said on Saturday.The accused has been identified as Syed Mohammad Salauddin, alias Dollar, a resident of Mamudpur in Dhaka.In Bangladesh, he posed as an import-export businessman. The police said his passport and medical visa were genuine and no irregular…
Washington, May 8 (IANS) A bipartisan group of US senators has reintroduced a resolution backing the US dollar’s status as the world’s reserve currency, warning that China is accelerating efforts to build an alternative global financial system centred around the yuan.The resolution, introduced by Ted Budd and Jeanne Shaheen, says Beijing’s push to internationalise the yuan poses economic and national security risks to the United States and its allies.“Continued cooperation and sustained …
Mumbai, May 7 (IANS) Indian benchmark indices ended largely flat on Thursday after trading in a narrow range throughout the session, even as broader markets outperformed and auto stocks witnessed buying interest.The Nifty slipped 4.30 points, or 0.02 per cent, to close at 24,326.65, while the Sensex declined 114 points, or 0.15 per cent, to settle at 77,844.52.Commenting on technical outlook, experts said that technically, the 24,400–24,500 zone continues to act as an immediate resistance band…
Mumbai, May 5 (IANS) Global crude oil prices declined sharply on Tuesday, falling up to 2 per cent despite a fresh escalation in West Asia, as the conflict entered its third month.The international oil benchmark Brent crude slipped 1.36 per cent to $112.88 per barrel, while US West Texas Intermediate (WTI) fell 2.34 per cent to $103.92 per barrel.On the domestic front, crude oil futures (June 18) on the Multi Commodity Exchange traded lower, down 1.12 per cent or Rs 109 at Rs 9,578.Prices eased …
New Delhi, April 23 (IANS) The Reserve Bank of India’s partial rollback of recent foreign‑exchange curbs has helped the Rupee strengthen by nearly 2 per cent against the Dollar from record lows of around 95 per USD, a report said on Thursday.”Overall, the decision to ease some of the measures appears to be aimed at striking a balance between supporting genuine hedging needs while curbing arbitrage or speculative activity in the currency market,” the report from DBS Bank said.The RBI partly r…
New Delhi, April 11 (IANS) American billionaire and investor Ray Dalio has said that the worst and most consequential phase of the Iran conflict is still to come, warning that a climactic “final battle” for control of the Strait of Hormuz will determine not just the outcome of the current war but the long-term credibility of American power and the stability of the dollar-led financial order that underpins it.Founder of Bridgewater Associates, Dalio on X shared an article and highlighted all part…
New Delhi, March 4 (IANS) Safe‑haven currencies, from the dollar to the yen and gold, are expected to rally and equity sentiment could worsen due to supply chain disruption amid escalation of the US-Iran war, a report said on Wednesday.The report from DBS Bank said spreads of sovereign and corporate bonds could widen as investors while the monetary policy will stay put in the near term. Taimur Baig, Chief Economist, DBS Bank, warned that despite the Iranian Navy’s warships posing minimal thr…
New Delhi, March 4 (IANS) The Indian rupee breached a new record low on Wednesday, crossing Rs 92 per dollar as oil prices surged amid escalating geopolitical tensions in the Middle East.The domestic currency was trading at Rs 92.38 to the dollar, up 35 paise or 0.38 per cent from the previous session.Brent crude prices spiked to as much as $85 per barrel in recent days as military tensions between the United States, Israel and Iran intensified, the report further said.On Wednesday, WTI crude cl…
Mumbai, Feb 27 (IANS) The Indian equity benchmarks posted huge losses on Friday, amid heavy FII selling and weak global cues.At the closing bell, Sensex lost 961 points, or 1.17 per cent to settle at 81,287. The Nifty lost 317.90 points, or 1.25 per cent, to close at 25,178.Nifty Midcap 100 index performed in line with the benchmark as it dipped 1.10 per cent, while the NSE Smallcap 100 declined 1.10 per cent. Nifty Next50 lost 1.30 per cent.Sectoral indices traded mostly in the red except IT, m…