The current pullback in the precious metals sector is a buying opportunity. Since trading at a closing high of $2,064 an ounce on August 6, gold bullion has declined 8.34% as of this writing, says John Hathaway of asset management company Sprott Inc. Gold mining shares have followed suit, declining 9.26% since the August high.It […]
India’s central bank left the benchmark lending rate unchanged and vowed to maintain its accommodative monetary policy to facilitate the economy’s recovery in wake of the covid pandemic. The Reserve Bank of India (RBI) maintained the repo rate at 4% and the reverse repo rate at 3.35%. At the same time, the bank announced a raft […]
Gold backed Exchange traded funds recorded their tenth straight month of net inflows during September, a stretch matched only by periods seen in 2008 and 2016, according to the World Gold Council.. This has taken the gold assets under management to a record high of 3,880 tons, which is equal to a value of $235 billion. […]
Gold has had a sizzling run since last year, rising by over 25% through 2019 and then adding another 17% since the start of the year till date. As the Covid-19 pandemic has prompted a widespread reassessment of global economic prospects, investors have rotated into safe-haven assets, including gold, the World Gold Council said in a recent […]
The Reserve Bank of India (RBI) announced a second cut of the year in its key policy rate to help ease the pain of a country battered by weeks of nationwide lockdown due to the coronavirus pandemic, and said the economy would shrink this year. RBI Governor Shaktikanta Das said in a video conference on […]
Seeking to bolster America’s economy amid growing fears over the coronavirus, the U.S. Federal Reserve cut interest rates on Tuesday by half a percentage point. The Fed said the emergency move puts rates in a target range of 1.00% to 1.25%, reports AgWeb. admin
The Reserve Bank of India (RBI) on Thursday kept the interest rates unchanged, pausing after five straight cuts, but lowered the country’s economic growth forecast for the 2019-20 financial year to 5 percent from an earlier 6.1 percent. The RBI also raised its inflation forecast for the second half of the year to between 5.1-4.7 […]
Rating agency CRISIL sharply cut its growth forecast for the current financial year to 5.1 per cent from an earlier estimate of 6.3 per cent. The move comes ahead of the RBI’s announcement on lending rates on December 5. The RBI’s monetary policy committee (MPC) will meet between December 3-5 to review the interest rates. […]
After months of despair, India’s manufacturing sector activity inched up in November 2019, but the upturn remained subdued as growth rates for new orders as well as production were modest, a monthly survey said. The IHS Markit India Manufacturing PMI rose to 51.2 in November from 50.6 in October, when it had fallen to a […]
After a broad-based deceleration in the initial quarters of this fiscal year, India’s growth rate is projected to fall to 6 per cent, the World Bank said. Both IMF and Ind-Ra ratings have also reduced India’s projected growth rate for this fiscal tro 6.1 per cent. In 2018-19, the growth rate of the country stood […]
