Mumbai, March 19 (IANS) Gold and silver prices witnessed a sharp fall on Thursday following the US Federal Reserve’s latest policy decision announced overnight, even as escalating geopolitical tensions in the Middle East kept bullion in focus.On the Multi Commodity Exchange (MCX), gold futures (April 2) were trading around 1 per cent, or Rs 1,313, lower at Rs 1,51,712, hitting an intraday low at around 10:22 am. Similarly, silver futures (May 5) declined to Rs 2,43,083, down 2 per cent or Rs 5…
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Seoul, March 19 (IANS) Uncertainty over the path of US monetary policy has deepened amid heightened tensions in the Middle East, a senior official at South Korea’s central bank said on Thursday.On Wednesday (U.S. time), the Federal Reserve kept its benchmark interest rate unchanged at the 3.5-3.75 percent range for the second consecutive time while maintaining its projection of one rate cut this year.At a press conference following the decision, Fed Chair Jerome Powell said the surge in oil pric…
Washington, March 19 (IANS) Federal Reserve Chair Jerome Powell said the US central bank was keeping interest rates unchanged as it monitored the fallout from higher oil prices and broader uncertainty linked to the conflict in the Middle East. Powell on Wednesday (local time) said the Federal Open Market Committee decided to keep its policy rate unchanged because the current stance remained appropriate. He said the US economy was expanding at “a solid pace”, even as inflation stayed above ta…
New Delhi, Feb 16 (IANS) Gold and silver prices declined on Monday, as the US dollar strengthened tracking in-line US inflation data.MCX gold April futures dipped 0.56 per cent to Rs 1,55,023 per 10 grams around 12.30 am on an intra-day basis. Meanwhile MCX silver March futures declined 1.99 per cent to Rs 2,39,501 per kg.The dollar index surged 0.10 per cent to 97, tracking the moderation in US CPI (consumer price index) in January. The index earlier received support from strong jobs data that …
Washington, Jan 29 (IANS) US Federal Reserve Chair Jerome Powell declined to comment on his future at the central bank during a wide-ranging press conference. Asked whether he has decided to remain as a Fed governor, Powell said: “No.” He added: “I really, once again, have nothing for you on that today.”Pressed on when a decision might come, Powell repeated that he had nothing to add.When asked why he might consider leaving, Powell declined again. “There’s a time and place for these …
Mumbai, Jan 28 (IANS) Gold and silver prices continue to scale record highs on Wednesday, amid strong buying demand, weakening dollar, and rising geopolitical tensions, raising safe haven demand.MCX gold February futures rose 2.97 per cent to Rs 1,62,387 per 10 grams around 11.30 am. Meanwhile, MCX silver March futures rose 6.21 per cent to Rs 3,78,401 per kg.International markets also saw gold and silver touching records as caution grew due to ongoing policy uncertainty, fresh tariff threats, a…
Mumbai, Jan 27 (IANS) Gold and silver prices surged to record highs on Tuesday, amid persistent weakness in the US dollar and expectations of rate cuts by the US Federal Reserve.MCX gold February futures rose 1.48 per cent to Rs 1,58,343 per 10 grams. Meanwhile, MCX silver March futures rose 6.56 per cent to Rs 3,56,670 per kg.Earlier in the day, gold had peaked to Rs 1,59,820 per 10 grams, up 2.4 per cent, before profit-booking eased the price level.International markets also saw gold and silve…
Mumbai, Dec 28 (IANS) The Indian stock market ended the week on a weak note, and investors are now looking at key domestic and global cues that are likely to drive market direction in the coming days. Industrial output data, minutes of the US Federal Reserve meeting, currency movement and foreign investor activity will remain in focus this week.On Friday, Indian equities closed in the red as investors continued to book profits in the absence of fresh triggers.Mixed global signals and cautious se…