Mumbai, July 4 (IANS) Gold recorded its first weekly gain since May as trader expectations for further US Federal Reserve rate hikes moderated, pushing bullion prices around 3.1 per cent for the week.Soft US job numbers and lower energy prices led to investors reducing the expectations of monetary policy tightening.However, on Friday, MCX gold August futures eased 0.01 per cent while MCX silver July futures inched up 0.04 per cent. Currently, gold futures stand at Rs 1,47,365, while silver futur…
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Washington, July 3 (IANS) US President Donald Trump pointed to India as one of the world’s fastest-growing major economies, arguing that the United States should be achieving much higher economic growth instead of being constrained by concerns over inflation and interest rates.In an interview with CNBC, Trump praised India’s economic performance while criticising the US Federal Reserve for what he described as an overly cautious approach to monetary policy.”You have a couple of countries, India …
New Delhi, July 1 (IANS) The Unified Payments Interface (UPI) transaction volumes rose 23 per cent (year-on-year) to 22.72 billion in June, while UPI transaction value surged 20 per cent to Rs 28.92 lakh crore last month, according to data released by the National Payments Corporation of India (NPCI) on Wednesday.On an average basis, UPI processed around 757 million transactions daily in June, with average daily transaction value standing at about Rs 96,405 crore.In May, UPI transaction volumes …
New Delhi, June 30 (IANS) India’s gross domestic product (GDP) growth in 2026 is expected to touch 7 per cent, up from an earlier estimate of 6.2 per cent in April, a report has said.The report from Bank of America (BofA) Securities pegged India’s growth in 2027 at 7 per cent. Moreover, it has projected international oil benchmark Brent crude will average $72 a barrel in H2 2026 and $65 per bbl in 2027, on the assumption that peace holds in West Asia.Analysts at the global brokerage marginally…
New Delhi, June 27 (IANS) Gold prices dipped 4.63 per cent during the week, marking the fourth consecutive weekly decline amid a stronger dollar and persistent expectations of higher US interest rates.On the Multi Commodity Exchange (MCX), gold futures (August) gained 0.75 per cent on Friday, while silver futures (July) surged more than 1 per cent after US inflation data tempered immediate concerns about a Federal Reserve rate hike.Currently, gold futures stand at Rs 1,44,199 and silver futures …
Washington, June 25 (IANS) The International Monetary Fund (IMF) on Thursday said the US economy continues to show solid momentum despite inflation remaining above the Federal Reserve’s target, backing the central bank’s decision to leave interest rates unchanged while cautioning that future policy moves should depend on incoming economic data. Speaking at a regular IMF press briefing, Julie Kozack, Director of the IMF’s Communications Department, said recent economic indicators pointed to conti…
Washington, June 25 (IANS) US lawmakers examined whether Congress should create a dedicated federal payments charter for financial technology companies, with industry leaders arguing that the existing banking framework has failed to keep pace with innovation, while critics warned that easing access to the nation’s payment infrastructure could undermine financial stability and consumer protections. During a hearing of the House Financial Services Committee on Wednesday (local time), lawmakers exp…
Washington, June 25 (IANS) US lawmakers debating the future of the country’s payment system pointed to India’s Unified Payments Interface (UPI) as an example of how modern public payment infrastructure can drive private-sector innovation, as fintech firms urged Congress to overhaul regulations governing access to America’s payment network.The comparisons with India came during a hearing of the House Financial Services Committee’s Subcommittee on Financial Institutions on Wednesday (local time), …
Mumbai, June 13 (IANS) The Indian equity benchmarks posted notable gains this week after two weeks of consecutive losses, over investor optimism about potential US-Iran peace agreement, and decline in Brent crude prices.Nifty added 1.10 per cent during the week and gained 1.99 per cent on the last trading day to reach 23,622. At close, Sensex was up 1,695 points or 2.30 percent at 75,527. It added 1.73 per cent during the week.The Indian equities showed structural resilience in a turbulent week,…
New Delhi, June 10 (IANS) Gold and silver prices opened sharply lower on Wednesday over concerns of US Federal Reserve rate-hike fears.On the Multi Commodity Exchange (MCX), gold futures (August) dipped 1.51 per cent to Rs 1,50,140 per 10 grams at 12.15 pm on an intraday basis.On the other hand, silver futures (July) lost almost 1 per cent to Rs 2,36,239 per kg.The price of 10 grams of 24-carat gold was at Rs 1,48,429 on Wednesday, down from Rs 1,52,519 of the previous day’s market opening, acco…