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Gold slips as investors fear US Fed taper hints

Gold prices slipped as much as 1.7% on June 14, as some investors feared the U.S. Federal Reserve may outline a path for scaling back its expansive monetary policy at a two-day meeting this week. Spot gold fell 0.7% to $1,863.98 per ounce by 1:43 p.m EDT (1743 GMT) after hitting its lowest level since Read More

Silver prices slide ahead of US Inflation data, firm dollar

Silver prices edged lower on June 10 as investors looked forward to US inflation data that could shape the course of the Federal Reserve’s monetary policy. The precious metal was weighed down by softness in gold, industrial metals and a stronger dollar. The semi-precious metal has been trading higher than 50, 100 and 200 days’ Read More

Oil falls again amid concerns over demand rebound

Oil prices lost more ground on Tuesday as concerns about the fragile state of the global recovery in demand for crude and fuels were heightened by data showing China’s oil imports fell in May. Brent crude was down 11 cents, or 0.2%, at $71.38 a barrel by 0151 GMT, after declining 0.6% overnight. U.S. oil Read More

Gold falls as firmer dollar offsets easing US bond yields

Gold prices edged lower on Monday as an uptick in the dollar dented the metal’s appeal, although lower U.S. bond yields and prospects of a prolonged accommodative interest rate environment limited losses. Spot gold was down 0.2% at $1,886.76 per ounce as of 0308 GMT, after rising more than 1% in the previous session, as Read More

Oil falls on concerns of Iranian supply return, inflation fears

Oil prices fell for a second day on Wednesday on the potential of Iranian supply returning and as investors sold on speculation that inflation fears might lead the U.S. Federal Reserve to raise interest rates, which could limit economic growth. U.S. West Texas Intermediate (WTI) crude futures dropped 73 cents, or 1.1%, to $64.76 a Read More

The dollar sank to a six-year trough against the Canadian dollar and teetered near multi-month lows versus other major peer currencies on Tuesday, as Treasury yields stalled amid renewed expectations the United States will not hike interest rates anytime soon. Dallas Federal Reserve President Robert Kaplan on Monday reiterated that he does not expect interest rates to rise until next year, fueling a further decline in bets that inflationary pressure could force the Fed to act sooner. This week a host of Fed policymakers are scheduled to speak, and the U.S. central bank will also release minutes from its most recent meeting, which may give indications about where monetary policy is headed. The growing market consensus is that the Fed will tolerate what it sees as a temporary acceleration in inflation, which will keep the dollar lower against most major currencies. “The dollar is on its knees and this seems to be a direct result of how investors feel about the U.S. inflation outlook and the Fed’s reaction,” said Valentin Marinov, head of G10 FX research at Credit Agricole. Marinov highlighted two inflation outlook scenarios that would have different impacts on the markets – the first one being the current market expectation that price growth will soon ease. “This will keep the Fed dovish, U.S. real yields very negative and the dollar weak … boosting commodity prices and supporting risk assets,” he said. “Under the second inflation outcome, we see a more persistent rebound of the U.S. inflation this and, potentially, early next year.” Under Marinov’s central scenario, that could nudge the Fed towards tapering bond purchases this summer, thus boosting the outlook for U.S. Treasury yields and the dollar. The benchmark 10-year U.S. Treasury yield stood at 1.6471%, extending a pullback from a five-week high reached last week. The dollar traded above $1.22 to the euro, the single currency hitting its highest against the greenback since Feb. 25. The British pound rose past $1.42 for the first time since Feb. 24. Sterling has been buoyed as investors cheer the gradual lifting of strict coronavirus restrictions. The Canadian dollar advanced to a six-year high of 1.2013 to the greenback, aided by a rise in oil prices. Up 5% against its U.S. peer year-to-date, the trader-nicknamed “loonie” is the best performing G10 currency on the year. The dollar lost 0.3% to 108.96 yen. The Japanese currency is the worst-performing G10 currency this year, down over 5% year-to-date against the greenback amid worries about Japan’s slow pace of vaccinations and weakness in the greenback. Some investors were already scaling back expectations for a Fed rate hike this year, and Kaplan’s comments gave traders even more incentive to sell the dollar. The onshore yuan edged up to 6.4188 per dollar, not far from an almost three-year high reached last week. The Australian and New Zealand dollars rose as much as half a percent each against their U.S. counterpart. In the cryptocurrency market, bitcoin rose 3.3% to $45,023.53 but was still close to a three-month low after Tesla boss Elon Musk dented enthusiasm for the digital asset. Rival digital currency ether rose 6.50% to $3,494, steading from a two-week low on Monday.

Oil prices climbed on Tuesday, extending gains from the previous day, as optimism over the reopenings of the U.S. and European economies outweighed fears of slower fuel demand in Asia due to surging COVID-19 cases and a new wave of restrictions. Brent crude oil futures were up 20 cents, or 0.3%, at $69.66 a barrel Read More

‘Portfolio that comprises gold provides better risk-adjusted returns, so allocate 15-20% of portfolio’

Gold symbolizes wealth that appreciates over time, never diminishes, and provides financial security during difficult times. In our country, people buy gold whatever the celebration is, and wonderfully there is one festive occasion in the Hindu calendar ‘Akshaya Tritiya’ when buying gold is considered auspicious. From the ancient times to the modern age, from the Read More

Gold firms as US jobs data miss cements low rates view

Gold prices inched higher on Monday to trade near a three-month peak hit last week after weaker-than-expected U.S. jobs data supported hopes that interest rates will remain low for some time, bolstering the metal’s appeal. Spot gold was up 0.1% at $1,832.26 per ounce by 0315 GMT, after hitting its highest since Feb. 11 at Read More

Oil prices edge up as investors eye fuel demand recovery

Oil prices edged up in early Asian trade after a 1% dip in the previous session, as global economic recovery and easing travel curbs in the United States and Europe buoyed the fuel demand outlook while the surging pandemic in India capped prices. Brent crude futures for July were at $68.17 a barrel by 0052 Read More

Oil prices fall as US gasoline stocks rise for a fifth week

Oil prices fell on Thursday as gasoline inventories in the United States, the world’s largest oil consumer, rose for a fifth consecutive week although a draw in crude stockpiles helped to underpin prices. Brent crude oil futures fell by 16 cents, or 0.2%, to $68.80 barrel by 0123 GMT, and U.S. West Texas Intermediate (WTI) Read More

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