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Gold slips below $4,000 an ounce, silver tumbles nearly 2%: Factors at play
Gold and silver prices fall as a stronger US dollar and expectations of further Federal Reserve rate hikes pressure bullion, investors eye key US economic data.
Dalal Street set for a positive start as GIFT Nifty trades higher
Indian markets bounced back strongly on Wednesday, with the Nifty closing over 24,000, fueled by renewed buying and falling energy prices. Brent crude dipped, easing concerns about the Strait of Hormuz. Despite a rise in market fear gauge, foreign institutional investors offloaded shares while domestic investors showed robust buying. The rupee also strengthened against the dollar.
Kospi steadies after selloff as emerging-market currencies slip on dollar
Emerging-market assets weakened as a stronger US dollar dampened risk appetite, while South Korean stocks rebounded after a sharp tech-driven selloff
Gold, silver rates today: Comex gold falls below $4,000, silver slips under $60 as hawkish Fed outlook boosts US dollar
Precious metals experienced a sharp sell-off on June 24, with gold dropping to $3,980 and silver falling to $58. Factors include a stronger US dollar, rising interest rate expectations, and adjustments in gold forecasts from major banks, resulting in significant losses for both metals this year.
Mobile, Laptop Sales Slow As Rising Memory Costs Push Up Prices; Refurbished Market Gains Traction
Soaring memory prices and a stronger dollar are squeezing demand for new devices.
INR rebounds on the back of a steep fall in global crude oil prices
The Indian rupee appreciated by 11 paise to settle at 94.65 (provisional) against the US dollar on Wednesday on the back of a steep fall in global crude oil prices. Positive sentiments in the domestic equity markets and FII inflows further supported the local unit. Indian shares rose sharply on Wednesday amid easing geopolitical tensions and growing optimism around a potential U.S.-India bilateral trade agreement. Global oil prices fell to their lowest level in four months amid indications that more tankers stranded in the Gulf since the start of the Iran war were beginning to move through the Strait of Hormuz.
Bank of India eyes $3.5 billion foreign currency inflows on RBI's dollar push
Bank of India aims to raise approximately $3.5 billion through foreign currency deposits and overseas borrowings, leveraging recent RBI measures. This strategic move, including $1 billion from FCNR(B) deposits and $1.5 billion via concessional swap facilities, is expected to reduce borrowing costs by 50-60 basis points.
Rupee Gains 11 Paise To Settle At 94.65 Against US Dollar As Crude Prices Fall
The rupee had declined 13 paise to close at 94.76 against the US dollar on Tuesday.
US Dollar Index firmly perched above the crucial 101 level; Euro, Pound tumble sharply against greenback
The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. However, the yield on the US 10-year Treasury note fell to 4.48% on Tuesday as markets reacted to signs that a USIran deal could move closer to a lasting agreement. The dollar index hovered around 101.24 this morning, trading at its highest level in more than a year as expectations for Federal Reserve rate hikes this year remained strong. An unexpectedly hawkish Fed meeting chaired by Kevin Warsh last week boosted expectations for a year-end interest rate hike. Markets are also looking ahead to this weeks PCE inflation report, the Feds preferred inflation gauge, for additional clues on the outlook for monetary policy. Among basket currencies, British pound weakened against a firmer US dollar and tumbled under $1.32 mark as investors balanced .
Gold in India slips to ₹1.46 lakh per 10 grams; silver below ₹2.33 lakh per kg
MCX gold and silver futures fell on June 24, pressured by a stronger US dollar, hawkish US Federal Reserve signals, weak bullion sentiment, and reduced safe haven demand.
China’s Zhipu considers multi-billion-dollar Hong Kong stock sale - Bloomberg By Investing.com - Investing.com India
China’s Zhipu considers multi-billion-dollar Hong Kong stock sale - Bloomberg By Investing.comInvesting.com India
INR stays hammered as dollar stands tall on hawkish Fed
The Indian rupee continues to stay pressured against the dollar in opening trades on Wednesday, tracking firm dollar overseas. Mildly positive start to local equities and easing oil prices are unable to support rupee that is hammered by gains in DXY on the back of a hawkish dollar overseas. INR opened at Rs 94.88 per dollar and hit a low of 94.93 so far during the day. Yesterday, the counter settled at 94.76. The dollar index scales above 101 mark for the first time in more than a year amid growing indications of a Federal rate hike in the near future. The Federal Reserve's hawkish tone at its latest meeting is seen bolstering gains the U.S. dollar. The upcoming PCE inflation report, the Feds preferred gauge, will be closely watched this week for further clarity.