Spot gold closed with a loss of 0.23% at $2440 on Friday. However, the metal was up 2.30% on the week, a data and event packed week, as the US yields and the Dollar Index pummeled on the economic concerns. In Friday’s session, initially, spot gold surged on a weak non-farm payroll report and came … Read more
Buoyed by rate cut expectations after the Bank of Canada and the European Central Bank (ECB) cut rates earlier this week, spot gold rose to $2,387 on Friday, the highest level since May 22. However, the metal crashed on a robust US nonfarm payroll report. Spot gold closed with a loss of 3.49% at $2,294 … Read more
Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more
Spot gold closed with a gain of 0.27% at $2338 Friday. However, the metal posted its first weekly decline in six on inflation concerns as the US inflation data remained elevated. The metal fell 2.20% on the weekly closing basis. The ten-year US yields at 4.67% were around 1% lower Friday; however, yields were up … Read more
Mumbai: Shares of companies with higher foreign ownership have slumped of late as renewed outflows from overseas investors have put the spotlight on these stocks. With the deadline for foreign portfolio investors (FPIs) to comply with the beneficial ownership norms around the corner, analysts said sentiment in several such stocks is jittery.HDFC Bank, with a … Read more
