Gold prices edged above $1,900 an ounce level on Friday, supported by a pullback in the dollar and lower bond yields, after data showing a rise in U.S. inflation was viewed inadequate to alter the Federal Reserve’s easy monetary policy, Reuters reported. Spot gold was up 0.1% at $1,900.40 per ounce, as of 0658 GMT. […]
The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) on Friday announced it would maintain the status quo on its key rates. RBI governor Shaktikanta Das said that it was decided to keep the repo rate and the reverse repo rate unchanged at 4 per cent and 3.35 per cent respectively to […]
Demand-supply imbalances may continue to exert pressure on food items such as pulses and edible oils, and the prices of cereals may soften going forward on the back of bumper foodgrains production in 2020-21, the Reserve Bank of India (RBI) said in its recently released Annual Report. The apex bank expects the global crude oil prices to […]
Higher input prices and disruptions to the rural economy have resulted in price pressures and inflation is back to haunt us, rating agency CRISIL said in its research report. CRISIL said it sees upside risks to its 5 per cent estimate on consumer price inflation in FY21. “It can be noted that the Reserve Bank is required to maintain […]
Inflation measured by wholesale price index (WPI) shot up to 7.39% in March 2021, the highest rate since October 2012, primarily on higher prices of crude oil, but also aided by a low base. Rise in prices of some manufactured goods and food items like pulses and fruits also pushed the index. Retail (CPI) inflation […]
Two of the world’s prominent energy organisations—Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA)—have revised upwards their demand forecast for oil this year, which could help sustain a price rally. Demand will increase by 5.95 million barrels per day this year, which is around 70,000 barrels per day more than last […]
After gold’s weakest quarterly performance in around five years at the end of March, there are encouraging signs that it may have reached close to bottom. By the end of the first quarter, gold was down 10% year-to-date and 18% below its record level of $2,067/ounce reached in early August. The catalyst for the slide was […]
The Reserve Bank of India (RBI) kept the benchmark repo rate unchanged at 4% and vowed to maintain monetary easing as long as required to recover from the impact of the Covid-19 pandemic. The central bank’s decision follows a fresh wave of Covid infections across the country forcing partial lockdowns in the financial hub Mumbai and […]
India’s inflation is at “uncomfortably high” level, which is an exception among Asian economies, Moody’s Analytics said. Higher fuel prices will keep upward pressure on retail inflation and keep the RBI from offering further rate cuts, said Moody’s Analytics, a financial intelligence company. Retail inflation rose to 5 per cent in February, from 4.1 per cent in […]
India’s finance ministry is considering cutting excise duties on petrol and diesel to cushion the impact of record high domestic prices. A doubling in the price of crude oil over the past 10 months has contributed to record fuel prices at gas stations in India. Retail prices of petrol and diesel are hovering near Rs […]
