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…
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Mumbai, March 18 (IANS) The rupee on Wednesday touched a fresh record low of 92.63 against the US dollar, amid a firming greenback and continued foreign fund outflows.At the interbank foreign exchange, the rupee opened at 92.42 and moved in a narrow range before weakening to its all-time low during the session.The currency had closed at 92.37 on Tuesday.”The Indian rupee slipped to a fresh record low as a break below the 92.50 level triggered selling pressure, exacerbated by thin dollar liquidit…
Mumbai, March 14 (IANS) Indian equity benchmarks lost nearly 6 per cent on a weekly basis, reflecting sustained selling pressure amid escalating geopolitical tensions in West Asia.Nifty dipped 5.31 per cent during the week and lost 2.06 per cent on the last trading day to reach 23,151. At close, Sensex was down 1,470 points or 1.93 per cent at 74,563. It advanced 5.52 per cent during the week.The sharp correction has largely been driven by the surge in crude oil prices and rising macroeconomic c…
New Delhi, March 13 (IANS) Gold and silver prices opened flat but dipped marginally on Friday, amid profit‑taking capped after recent record highs and strengthening of US dollar.MCX gold April futures lost 0.14 per cent to Rs 1,60,046 per 10 grams around 11.10 am on an intraday basis. Meanwhile, MCX silver May futures declined 0.19 per cent to Rs 2,67,448 per kg.However, the decline was capped by safe‑haven demand amid the ongoing US‑Iran war, and high crude prices kept underlying support …
Mumbai, March 12 (IANS) Gold prices in India traded slightly lower on Thursday, even as silver prices recovered from early losses and moved higher due to strong buying at lower levels.On the Multi Commodity Exchange (MCX), gold for April futures was trading at Rs 1,61,665 per 10 grams, down by Rs 124 or 0.08 percent.The precious metal had opened higher at Rs 1,62,799 per 10 grams compared with its previous close of Rs 1,61,789, but later pared its gains amid weak global cues.Experts said that st…
Seoul, March 12 (IANS) The South Korean currency fell against the US dollar on Thursday as global oil prices climbed amid concerns about supply disruptions stemming from heightened tensions in the Middle East.The won opened at 1,480.1 per dollar, down 13.6 won from the previous session, reports Yonhap news agency.The currency had risen over the previous two sessions, rebounding from a 17-year low, after US President Donald Trump hinted that the war in the Middle East could end soon and global oi…
New Delhi, March 11 (IANS) Gold and silver prices eased on Wednesday as investors booked profits, though a softer US dollar and lingering geopolitical uncertainty capped the decline.MCX gold April futures lost 0.52 per cent to Rs 1,62,452 per 10 grams around 11.15 am on an intraday basis. Meanwhile, MCX silver May futures declined 1.69 per cent to Rs 2,73,150 per kg.The profit booking followed the MCX gold April futures contract rising almost 2 per cent and the silver May futures surging 4 per c…
New Delhi, March 10 (IANS) Gold and silver prices posted strong gains on Tuesday as the US dollar softened, and energy prices fell on signals from President Donald Trump that the conflict in the Middle East could be nearing an end.MCX gold April futures gained 1.15 per cent to Rs 1,62,150 per 10 grams around 12.15 pm on an intraday basis. Meanwhile MCX silver May futures gained 3.68 per cent to Rs 2,77,000 per kg.In international markets, spot silver climbed toward $82.50 per ounce, while spot g…
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…
Seoul, March 8 (IANS) The daily volatility of the Korean won against the US dollar has risen to its highest level since the Covid-19 pandemic amid heightened tensions in the Middle East, data showed on Sunday.The won has fluctuated sharply following the US-Israeli joint attacks on Iran on February 28, with the average daily fluctuation of the won against the greenback reaching 13.2 won as of Friday, according to the economic statistics system of the Bank of Korea, reports Yonhap news agency.The …