Weekly wrap – India’s haemorrhaging economy begins to heal

The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with a resurgence in infection rates, the International Monetary Fund said in a new report for G20 major economies. The report, released ahead of this week’s virtual meetings of finance officials and leaders from […]

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Weekly Wrap Up – Diwali cheer, sure, but don’t count your chickens yet!

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While Russian President Vladimir Putin is making final preparations to host the 2020 BRICS summit next Tuesday for his Brazilian, Indian, Chinese and South African counterparts, the differences between the five members are striking. Politically, for instance, this year there have been rising tensions between China and India, with little prospect of an imminent breakthrough. […]

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Gold prices fall Rs 2,500/10 gm after positive Covid vaccine news; silver down by Rs 4,000/kg

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Gold and silver prices today tanked in Indian markets after Pfizer Inc announced that its experimental covid vaccine was more than 90 per cent effective in preventing COVID-19 based on initial data from a large study. Pfizer and German partner BioNTech SE are the first drugmakers to show successful data from a large-scale clinical trial of a […]

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Weekly Wrap – Indian economy begins to turn around but resurgence of Covid cases globally doesn’t augur well

The U.S. Federal Reserve kept its loose monetary policy intact this week and pledged to do whatever it can in coming months to sustain a U.S. economic recovery losing speed amid a spreading coronavirus pandemic. The coronavirus pandemic is showing no signs of abating and has hit the Indian economy severely. However, Finance Minister Nirmala […]

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India’s gold demand recovers modestly in Q3

After India’s nationwide lockdown caused gold jewellery demand to drop to a record low during the second quarter, there was a modest recovery during the third quarter to 52.8 tons, according to the World Gold Council (WGC). Still the demand was 48% lower on year – notching the third lowest quarter for Indian jewellery demand. “Not […]

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Global demand for gold fell 19% during third quarter as pandemic hit hard, says WGC

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Global demand for gold during the third quarter of this year dropped by 19% on year to 892 metric tons, the lowest since that experienced during the third quarter of 2009 as consumers battled the effects of the pandemic, according to the World Gold Council. The year-to-date gold demand is down 10% on year at 2,972.1 […]

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