Mumbai, May 18 (IANS) Gold and silver showed volatility on Monday amid rising geopolitical tensions in West Asia, which typically support safe-haven demand, and a sharp rise in US Treasury yields.On the Multi Commodity Exchange (MCX), gold futures (June 5) were trading at Rs 1,58,697 per 10 grams around 11 am, up Rs 150 or 0.09 per cent.The yellow metal touched an intraday high of Rs 1,58,884, rising Rs 337 or 0.21 per cent, while the day’s low stood at Rs 1,57,547, down Rs 1,000 or 0.63 per c…
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New Delhi, May 16 (IANS) Global oil prices surged sharply this week, with benchmark crude contracts ending Friday’s session more than 3 per cent higher, after renewed tensions between the United States and Iran dampened hopes of a near-term breakthrough over the Strait of Hormuz — one of the world’s most critical oil shipping routes.Brent crude futures settled at $109.26 a barrel, gaining $3.54 or 3.35 per cent on Friday, while U.S. West Texas Intermediate (WTI) crude ended at $105.42 a bar…
New Delhi, May 15 (IANS) The Indian rupee breached the 96-mark against the US dollar on Friday amid persistent global pressures, rising crude oil prices, and continued geopolitical tensions linked to the Iran conflict.Earlier in the day, the domestic currency opened at 95.86 in the interbank foreign exchange market and slipped to 95.94 during early trade, after touching an all-time low of 95.96 in the previous session.Pressure on the rupee also intensified after oil marketing companies (OMCs) in…
Seoul, May 14 (IANS) More than 96 per cent of gas stations nationwide have kept gasoline prices unchanged under the country’s fuel price cap system, the industry ministry said on Thursday, noting South Korea is managing fuel prices within a relatively stable range compared with other major economies.As of Wednesday, 96.1 percent of the country’s 10,646 gas stations had maintained gasoline prices at the previous day’s level, the Ministry of Trade, Industry and Energy said during a regular briefin…
New Delhi, May 12 (IANS) Global crude oil prices are likely to remain in the low $100s per barrel mark for an extended period due to persistent supply disruptions and logistical bottlenecks linked to tensions in West Asia, according to a report by JPMorgan Chase & Co.According to the investment bank’s revised assessment, oil prices are expected to remain in the low-$100s range for most of the year, even if the Strait of Hormuz resumes normal operations in the coming weeks.According to the re…
New Delhi, May 7 (IANS) Gold and silver prices traded higher on Thursday, with prices rising by up to 1 per cent amid a rise in crude oil prices and uncertainty surrounding the US-Iran peace deal.On the Multi Commodity Exchange (MCX), gold futures (June 5) traded at an intraday high of Rs 1,52,887, up 0.49 per cent or Rs 755, as of 10:49 am. The yellow metal touched an intraday low of Rs 1,52,400.Meanwhile, silver futures (July 3) were trading 1.49 per cent or Rs 3,790 higher at Rs 2,57,055 afte…
Washington, May 6 (IANS) Oil prices plunged as much as 10 per cent on Wednesday after reports suggested the United States and Iran were nearing a possible agreement to end the Gulf conflict, easing fears of prolonged disruption in the Strait of Hormuz.West Texas Intermediate (WTI), the US benchmark, dropped as much as 10 per cent in early trading before recovering slightly to trade around $94.32 a barrel, according to Business Insider. Brent crude, the international benchmark, fell 7 per cent to…
Mumbai, May 6 (IANS) Indian equity markets traded higher on Wednesday in early deals, with benchmarks jumping almost 1 per cent each on global cues, amid hopes of de-escalation in the West Asia conflict.Sensex rose 0.85 per cent or 657 points to hit an intraday high of 77,675 in morning trade, while Nifty was trading at 24,250, up 0.90 per cent or 217 points from the previous close.Among sectoral indices, Nifty PSU Bank, Nifty Private Bank, Nifty Auto, Nifty Metal, and Nifty IT advanced up to ne…
New York, May 5 (IANS) International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned that the global economy would face a “much worse outcome” if the Middle East war drags on into 2027, with oil prices hitting around 125 dollars per barrel. “We are going to see inflation climbing up, and then inevitably, inflation expectations would start de-anchoring,” she said at a conference hosted by the Milken Institute in Washington, D.C., on Monday (local time).She noted that current con…
Mumbai, May 4 (IANS) Gold and silver prices declined up to 1 per cent on Monday amid signs of easing geopolitical tensions between the US and Iran, following remarks by US President Donald Trump.On the Multi Commodity Exchange (MCX), gold contracts for June 5 opened at Rs 1,51,150, down Rs 382 or 0.25 per cent from the previous close of Rs 1,51,532.At around 11.30 a.m., gold was trading at Rs 1,50,623, lower by Rs 729 or 0.48 per cent. The yellow metal touched an intraday low of Rs 1,50,400, a d…