Gold holds near 1-week low as Powell sticks to hawkish narrative
(Reuters) – Gold steadied on Wednesday after shedding nearly 2% in the previous session on an elevated dollar, with demand for the non-yielding asset blunted by Federal Reserve Chair Jerome Powell signalling more rate hikes.FILE PHOTO: An employee casts ingots of 99.99 percent pure gold during production at Krastsvetmet precious metals plant in the Siberian […]
Softer dollar sets gold on track for best week since mid-January
(Reuters) – Gold prices climbed to their highest in more than two weeks on Friday and were on track for their biggest weekly rise since mid-January, supported by a softer dollar as investors gauged the U.S. central bank’s policy path.FILE PHOTO: Ingots of 99.99 percent pure gold are placed in a workroom at Krastsvetmet precious […]
Asia Gold-China demand buoyant, India ramps up purchases
By Rajendra Jadhav, Seher Dareen* Gold imports flowing into China over past few weeks- MKS PAMP* Indian banks importing more gold since market at premium-dealer* Domestic prices in Japan hovering near historic highs- traderMarch 3 (Reuters) – Physical gold prices traded at a premium in India this week, as a drop in domestic rates encouraging […]
Gold loses steam as dollar turns higher, rate worries persist
(Reuters) – Gold prices were set to break a three-session winning run on Thursday, weighed down by a firmer dollar and as bullion’s outlook remains clouded by prospects of further interest rate hikes from the U.S. Federal Reserve.FILE PHOTO: 50g gold ingots are pictured after being minted at the plant of refiner and bar manufacturer […]
PRECIOUS-Gold eases on worries over higher-for-longer rates
*Gold down 1% this week so far*U.S. Jan PCE data due at 1330 GMT*Fed rates seen peaking at 5.338% in July(Adds comments and details, updates prices)Feb 24 (Reuters) – Gold prices inched lower on Friday as investors fretted that a recent slate of stronger-than-expected economic data from the United States could make the Federal Reserve […]
PRECIOUS-Gold tiptoes higher as investors focus on Fed minutes
*Fed minutes due at 1900 GMT*U.S. dollar index down 0.1%*U.S. 10-yr Treasury yields hit highest since November*Silver, platinum off one-week highs marked on Tuesday(Adds details, updates prices)Feb 22 (Reuters) – Gold prices rose marginally on Wednesday, as investors awaited minutes of the U.S. Federal Reserve’s latest policy meeting to assess prospects of further interest rate […]
India plans first-ever auction of lithium mines in Q1FY24
In a first for the country, India plans to auction blocks of lithium mines, recently discovered in Jammu and Kashmir, between April and June. Indian companies and foreign entities with a local subsidiary can participate in the auction, a mines ministry official said. The ministry, through the Geological Survey of India (GSI), will also undertake […]
PRECIOUS-Gold listless as traders look to U.S. data for Fed clues
*U.S. dollar index up 0.2%*Fed minutes due on Wednesday*Traders await U.S. PCE, GDP data(Updates prices)Feb 21 (Reuters) – Gold traded in a tight range on Tuesday as investors refrained from taking big positions ahead of U.S. economic data that could influence the Federal Reserve’s interest rate-hike strategy.Spot gold eased 0.1% to $1,838.66 per ounce, as […]
India won’t allow new sugar exports to prevent domestic shortages
India, which vies with Brazil as the world’s biggest sugar producer, will not allow any more exports for now on concern that weaker production will threaten domestic supplies. The government has decided not to approve new sugar shipments after meeting with some cane officials from major producing […]
Sugar exports at 2.7 mn tonnes in FY23 so far; Bangladesh top market: AISTA
India has exported 27.83 lakh tonnes of sugar till February 9 of the ongoing 2022-23 marketing year, with Bangladesh and Indonesia being the top markets, trade body AISTA said on Thursday. Among other nations, India has exported 2.47 lakh tonnes of the sweetener to Djibouti, 2.46 lakh tonnes […]