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

gold2.jpeg

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 […]

Read more

Modi urges foreign investors to come to India for “returns with reliability”

Prime Minister Narendra Modi on Thursday urged global investors to put their money in India for returns with reliability, saying the country was fast changing for the better and offered huge opportunities in every sector of its economy. “We are building a New India which is free of old practices. Today, India is changing and for […]

Read more

E-auction dates for commercial mining of coal likely to be extended again

glencore-coal-mine.jpg

The dates for submission of bids for online auction of coal blocks for commercial mining could be further extended due to disruptions caused by the COVID-19 pandemic. The Centre had earlier extended the dates for submission of technical bids. According to the revised schedule, the last date for submitting a technical bid is 2 pm of September 29, and […]

Read more

Consumer demand for gold may remain muted during second half of the year on COVID-19 impact: WGC

gold2.jpeg

Investors have embraced gold in 2020 as a key portfolio hedging strategy. Looking ahead, expectations for a faster recovery from COVID-19 are shifting towards slower recovery, or potential setbacks from additional waves of infections, said Somasundaram PR, India head of World Gold Council, while releasing the ”Gold Mid-Year Outlook 2020: Recovery Paths and Impact on […]

Read more

Lockdown relief to agricultural activities lifts sentiment of farmers and investors

The ease of lockdown for farmers and agricultural sector has made not only farmers happy, investors were thrilled too by the government’s move. Stocks of agriculture-related firms — such as fertilisers, chemicals, seeds, and equipment makers — were on the up, after the government provided relaxation to farming and rural activities after April 20. The […]

Read more

Chinese commodities traders bet on metals, oil as uncertainty rises

Investors are breaking trading records on China’s commodities exchanges looking towards metals and energy futures products such as stainless steel, tin and crude oil, as they hedge risks amid the global coronavirus outbreak or take speculative positions. Activity has soared over the past month, pushing open interest and trading volumes in the futures markets to […]

Read more

BPCL buys 2 million barrels extra oil as Saudi cuts price, plans to hike output

Indian refiner Bharat Petroleum Corp has bought 2 million barrels of extra Saudi oil for loading in April after the Saudi Kingdom slashed the selling price and announced plans to raise output to record 12.3 million barrels per day (bpd), as per a Reuters news report.  “We will be taking two additional cargoes of Arab mix…we have […]

Read more

Vedanta says its Anglo American stake buy meets India’s criteria

Vedanta, the natural resources company controlled by Anil Agarwal said  its foreign subsidiary Cairn India Holdings’ $200 million investment in Anglo American met all governance requirements. The company, India’s largest miner and No. 1 iron ore exporter, said the deal was made on an arms-length basis in December 2018, adding it provided “significantly higher” returns compared […]

Read more