Mumbai, March 9 (IANS) Gold and silver prices eased on Monday amid a firmer US dollar and higher inflation expectations, trimming hopes of US Fed rate cuts in the near term.MCX gold April futures lost 0.16 per cent to Rs 1,61,380 per 10 grams around 11.10 am on an intraday basis. Meanwhile, MCX silver May futures declined 1.30 per cent to Rs 2,64,799 per kg.Earlier in the day, gold futures had dipped 1.1 per cent, while silver futures had declined 1.4 per cent, before a strong rebound by preciou…
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New Delhi, March 7 (IANS) The ongoing conflict in the Gulf — involving Israel, Iran, and US assets in the region — could have far-reaching economic consequences, including global recessionary pressures, rising inflation and financial market turbulence, a report by SBI Research said on Saturday.However, domestic financial markets have been supported by RBI interventions such as smoothing of G-sec yields and management of rupee volatility.It, however, warned that prolonged conflict could still p…
Mumbai, March 6 (IANS) India’s foreign exchange reserves surged by $4.885 billion to an all-time high of $728.494 billion in the week ended February 27, data released by the Reserve Bank of India (RBI) showed on Friday.The previous all-time high for the country’s foreign exchange kitty was $725.727 billion, which was seen in mid-February.Foreign currency assets, a major component of the reserves, stood at $573.125 billion during the week. Expressed in dollar terms, the foreign currency assets …
New Delhi, March 5 (IANS) Escalating conflict in the Middle East could only cause minimal rupee depreciation and disruption in growth while defence stocks and precious metals could rally, a report said on Thursday.The report from asset management firm Shriram Wealth said a 10 per cent rise from RBI’s baseline assumption of crude oil price could lift inflation by 30 bps but weaken the rupee and growth minimally.The same could cut growth by 15 bps, while a 5 per cent rupee depreciation could raise…
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 3 (IANS) Gold prices climbed for a fifth straight session in the global markets on Tuesday amid escalating conflict in the Middle East and a spike in energy prices.MCX gold April futures gained 2.53 per cent to Rs 1,66,199 per 10 grams on Monday, while MCX silver May futures eased 0.90 per cent to Rs 2,80,090 per kg.India’s Multi Commodity Exchange will remain closed for the first half of trading on Tuesday for Holi, with evening trading resuming at 5 pm.Tensions in West Asia …
New Delhi, March 2 (IANS) Global crude oil prices went up more than 7 per cent on Monday as war in West Asia escalated, following US and Israeli military strikes on Iran.Brent crude futures prices surged to $82.37, the highest since January 2025. Brent crude oil price rallied 7.60 per cent to $78.41 a barrel, while the US West Texas Intermediate (WTI) crude futures rallied 7.19 per cent to $71.86.Iran has closed navigation through the crucial Strait of Hormuz, prompting governments and refiners …
Mumbai, March 1 (IANS) Escalating tensions between Israel and Iran are expected to weigh on Indian markets in the near term, mainly driven by a rise in energy prices, analysts said on Sunday.Analysts said that oil marketing companies, aviation, paints, autos, consumer discretionary and logistics could face pressure due to the tension in the Middle East.The immediate market reaction is likely to be negative as investors assess whether the flare‑up will become a prolonged conflict or remain a sh…
New Delhi, Feb 25 (IANS) Gold and silver prices surged significantly on Wednesday, amid rise in global trade uncertainty, geopolitical tensions and decline in US dollar.MCX gold April futures gained 0.76 per cent to Rs 1,61,180 per 10 grams around 11.30 am on an intraday basis. Meanwhile MCX silver March futures gained 3.20 per cent to Rs 2,69,075 per kg.International gold prices including US futures also climbed as investors rushed for safe-haven buying amid persisting US-Iran tensions and unce…
New Delhi, Feb 24 (IANS) Customs officials at Delhi’s Indira Gandhi International (IGI) Airport have filed a case against a US passport holder following the recovery of a large haul of undeclared foreign-origin goods and currencies. The passenger arrived from Hong Kong on Flight No CX-695 and was intercepted as part of routine spot profiling carried out by Customs officers.Officials said that the passenger’s baggage underwent X-ray screening, followed by a detailed physical examination in line…