Gold prices hit a 29-month low last week, as the dollar and US Treasury yields rose on expectations the U.S. Federal Reserve will deliver a steep rate hike when it meets this week. The Fed, at the conclusion of its two-day policy meeting, is expected to raise interest rates by 75 basis points to combat stubbornly-high […]
Gold prices finished 0.6% higher at the end of the first half of 2022, closing at US$1,817/oz, the World Gold Council (WGC) said in its mid-year outlook, adding that it saw inflation, political risks and interest rate hikes as key headwinds in the remaining months of the year. “The gold price initially rallied as the Ukraine war […]
A combination of normal rainfalls aiding bumper agriculture output and the Reserve Bank of India (RBI) further hiking interest rates to cut easy money in the system hold key to bringing down multi-year high inflation triggered by surging food and fuel prices, economists said. Although the government has room to further reduce excise duty on […]
The prices of gas, food and most other goods and services in the US of A jumped in May 2022, raising inflation to a new four-decade high. Consumer prices surged 8.6 per cent last month from a year earlier, faster than April’s year-over-year increase of 8.3 per cent the US Labor Department said. The new […]
Covid-related restrictions, global supply shortages and higher input costs due to uncertainties triggered by Russia’s invasion of Ukraines further slowed India’s economic growth in the fourth quarter of the 2021-22 fiscal (April-March) with full-year gross domestic product (GDP) growth hitting 8.7% after contracting by 6.6% in the previous financial year, government data showed. The GDP […]
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) raised policy rates by 40 basis points (bps) on Wednesday — for the first times in two years — as a sharp rise in inflation to a 18-month high due to soaring food and fuel prices ended the central bank’s gradual normalisation. The RBI also […]
Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]
Global gold prices rose 8% in the first three months of 2022, the best quarterly performance since Q2 2020, after rising a further 2% in March, as rapidly rising inflation and unexpected geopolitical risks more than offset the drag from higher nominal rates, the World Gold Council (WGC) said in its latest monthly report, adding […]
All eyes are on RBI’s Monetary Policy Committee meeting which is likely to keep all the key rates unchanged, primarily on threats of Omnicron strain of Covid-19. They will wait and watch for further data to make any move on rate action. It is likely they will continue to balance between economic growth and inflation […]
CARSTEN MENKE, Head of Next Generation Research, Julius Baer Even though the central bankers’ famous symposium in Jackson Hole lifted gold and silver prices on Friday last week, there should be no major fundamental impact on the markets. The key question remains whether the economy continues to recover or whether it slips back into recession. […]
