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…
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Washington, June 7, (IANS) US President Donald Trump on Sunday expressed confidence in newly appointed Federal Reserve Chair Kevin Warsh on Sunday, saying he was “fantastic” and should make his own decisions on monetary policy, while arguing that the US Central bank should lower interest rates rather than raise them despite a stronger-than-expected jobs report. In an exclusive interview with NBC’s Meet the Press, Trump said he did not intend to pressure Warsh as he prepares to chair his first Fe…
Washington, June 7 (IANS) Senior US banking regulators defended efforts to ease some post-crisis regulations and implement new rules for stablecoins during a contentious congressional hearing, while Democratic lawmakers warned that the changes could weaken safeguards designed to prevent future financial crises.The debate unfolded before the House Financial Services Committee this week as senior officials from the Federal Reserve, the Office of the Comptroller of the Currency (OCC), the Federal D…
New Delhi, June 6 (IANS) April and May high‑frequency indicators showed above‑average acceleration in growth and, if the trend continues in June, FY27 growth could surpass the Reserve Bank of India’s estimate of 6.6 per cent, a report said on Saturday.The report from SBI Research said, “Despite external headwinds, the Indian economy is poised to remain the fastest‑growing major economy in FY27 by leveraging its sound macroeconomic fundamentals and robust financial sector.”Further, “defla…
New Delhi, June 6 (IANS) Gold prices dipped 0.87 per cent during the week as a stronger‑than‑expected US jobs report reinforced expectations that the Federal Reserve could keep interest rates higher for longer.On Friday, MCX gold August futures dipped 2.47 per cent while MCX silver July futures lost 6.27 per cent. Currently, gold futures stand at Rs 1,55,600, while silver futures at Rs 2,48,201 per kg.The price of 10 grams of 24-carat gold was at Rs 1,54,238 on Friday, down from Rs 1,55,599 …
New Delhi, June 6 (IANS) Bitcoin fell below $60,000 for the first time since October 2024, extending a broad reversal that has seen the largest cryptocurrency lose more than half its value from an October peak above $126,000.The cryptocurrency slid as much as 7 per cent to $59,101, and was trading at $59,743.21 apiece early on Saturday.Bitcoin is suffering from liquidity shifts especially by institutional investors and capital rotation into sectors drawing fresh investor attention such as artifi…
Washington, June 6 (IANS) President Donald Trump has hailed stronger-than-expected US jobs growth in May, saying the latest employment figures showed the economy was outperforming forecasts despite ongoing tensions with Iran. Speaking at an agriculture roundtable in Chippewa Falls, Wisconsin, on Friday (local time), Trump said the US economy added 172,000 jobs in May.”For the third month in a row, the jobs numbers … smashed all expectations,” Trump said.He said economists had projected far few…
Washington, June 6 (IANS) US President Donald Trump has addressed developments involving Iran and said that the “situation” is “going quite well”, without giving further details. “The situation with Iran seems to be going quite well,” Trump told reporters on Friday (local time).The White House has in recent weeks focused heavily on tensions involving Iran, energy markets and maritime security in the Gulf region. Trump’s latest comment suggested confidence about ongoing developments, though he di…
Washington, June 6 (IANS) US President Donald Trump has celebrated stronger-than-expected employment figures, renewed his call for lower interest rates, and suggested Americans could eventually benefit financially from artificial intelligence companies. He also mentioned that Washington was making progress in preventing Iran from obtaining a nuclear weapon.Speaking to reporters aboard Air Force One, Trump repeatedly pointed to the latest jobs report as evidence that the US economy remains strong…
Washington, May 23 (IANS) President Donald Trump has said that Iran was eager to reach a deal with the United States but warned that Washington would continue to pressure Tehran because “Iran cannot have a nuclear weapon”.Trump made the remarks on Friday at the White House during the swearing-in ceremony of new Federal Reserve Chairman Kevin Warsh, where he mixed economic messaging with comments on national security and America’s military posture.”We have the greatest military in the world,” the…