The gold bears have finally caved under the deafening barrage of fiscal and geopolitical catalysts, from Fed hints to intensely brewing conflict with Iran. Gold is already trading well above its 5-year high. Not only has the U.S.-Iran conflict reached a boiling point, with Trump readying to deploy an additional 1,000 troops to the Middle […]
Two reports out this week which could greatly impact oil prices indicate that leaders in Tehran are desperately urging China to purchase more Iranian crude: First, Reuters notes China continued importing Iranian oil in July for the second month since a US sanctions waiver ended, though at greatly diminished levels compared to the year prior, citing numbers from three data firms: According to […]
Vegetable prices have risen 25%- 40% over the past week in western and southern India because of heavy rainfall in the region that has damaged crops and disrupted transportation. Traders in Mumbai, Belgaum and Indore said vegetable prices are likely to remain high until the next harvest in about two months, reports Economic Times. However, […]
India’s industrial production growth slipped to a four-month low of 2 per cent in June, mainly due to poor performance of mining and manufacturing sectors, according to government data released. Factory output, as measured by the Index of Industrial Production (IIP), had expanded by 7 per cent in June 2018. The previous low in IIP […]
Average wholesale prices of onion in the country’s wholesale market at Lasalgaon have gone up to Rs 1,600 per quintal owing to high demand from other states. Arrivals this week touched around 22,000 quintals and minimum prices were Rs 700 per quintal while maximum prices were Rs 1,760 per quintal. Market committee officials said that […]
Jewellery made from lab-grown diamonds is likely to capture over 2 per cent of India’s $14 billion worth of overall gems and jewellery exports to the US, the world’s largest consumer of the precious stones and metals, contributing nearly half of the world production. Exports to US, the largest market for Indian exporters is estimated at $280 […]
Mounting signs of an economic slowdown and a ratcheting up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said. “The situation is becoming even more uncertain … global oil demand growth has been very sluggish in the first half of 2019,” the IEA […]
The Reserve Bank of India’s (RBI’s) strategy to add gold to forex reserves has started bearing fruits. The rising price of the precious metal has helped the central bank increase overall forex reserves despite currency reserves not rising, and sometimes even falling. According to the RBI’s forex reserves data, put out every week, its foreign currency reserves […]
India is looking at cutting capacity at its biggest oil refinery to match lower fuel demand projections and contain costs which jumped to $ 60 billion due to meeting stringent environment norms and relocation of the plant, top officials said. State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd […]
After CRISL cutting down India’s GDP growth estimate to 6.9 per cent, India’s GDP growth is likely to be 6.2 per cent during the current fiscal, down from 6.8 per cent in 2018-19, on account of flat growth in agriculture sector, economic think-tank National Council of Applied Economic Research (NCAER) said. The prospects for agricultural […]
