PRECIOUS-Gold flat as traders focus on Fed decision
*Fed policy decision due at 1900 GMT*U.S. labour cost growth smallest in a year(Adds details and updates prices)Feb 1(Reuters) – Gold held steady on Wednesday, as investors refrained from taking big bets ahead of the U.S. Federal Reserve’s policy decision due later in the day.Spot gold was flat at $1,927.75 per ounce, as of 0720 […]
GLOBAL MARKETS-Stocks take breather after January surge, Adani plunges in India
LONDON, Jan 27 (Reuters) – World stocks eked out a 5-1/2 month high and the dollar held close to an eight-month low on Friday, as reassuring U.S. economic and inflation data kept the bulls largely in charge ahead of next week’s slate of top central bank meetings.Asia-Pacific shares maintained their best start to a year […]
India considering measures to cool high wheat prices: Govt official
NEW DELHI (Reuters) – India has been considering measures to cool domestic wheat prices, which jumped to a record high this week as supplies dwindled, Food Secretary Sanjeev Chopra said on Thursday.The world’s second-biggest producer of the grain banned wheat exports in May, but that has failed to stop domestic […]
India’s Dec gold imports plunge 79%; fall by over a third in 2022: Report
MUMBAI (Reuters) – India’s gold imports in December plunged 79% from a year earlier to the lowest level in at least two decades for the month as a rally in local prices near record high dampened demand, two government sources told Reuters on Thursday. Lower imports by the […]
PRECIOUS-Gold accelerates to 8-month peak on dollar pullback
*U.S. CPI report due on Thursday*Dollar index down 0.4%(Updates prices)Jan 9 (Reuters) – Gold prices extended gains to an eight-month high on Monday as a weaker dollar made greenback-priced bullion cheaper for overseas buyers, while investors bet on a less-aggressive rate-hike trajectory from the U.S. Federal Reserve this year.Spot gold was up 0.8% at $1,880.33 […]
Building boom sets up India as saviour for flagging global steel demand
With China’s massive construction sector still in a funk and the US and Europe likely heading into recessions, India has emerged as a savior for flagging global steel demand. Poised to overtake China as the world’s most populous country next year, India is in the midst of […]