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Gold prices plunged about 3% on Monday, breaking a five-session rally to its highest in nearly three weeks, as reports of Israel nearing a ceasefire with Hezbollah, coupled with Trump’s nomination of Scott Bessent as the U.S. Treasury Secretary soured the precious metal’s safe-haven appeal. Spot gold fell nearly 3% to $2,634.78 per ounce by

Dollar remains under pressure as the market heads into the US session, with selling momentum picks up slightly alongside a continued decline in Treasury yields. US stock futures are staging a robust rally, reflecting optimism over President-elect Donald Trump’s selection of Scott Bessent as Treasury Secretary. Bessent is viewed as a safe choice for implementing

Gold (XAU/USD) daily chart The supposed correction/pullback in gold sure didn’t last long. Dip buyers look to have managed to pass their first test with flying colours. Last week, gold was still in danger as it ran down to test its 100-day moving average (red line). But that proved to be where buyers draw the

Written by , ETMarkets.com| Nov 21, 2024, 05:06:51 PM IST 1/7 Market Summary Indian market closed lower on Thursday tracking weak global cues. The S&P BSE Sensex fell more than 400 points while the Nifty50 closed below 23,400 levels. ET Spotlight Special 2/7 Sectoral Summary Sectorally, buying was seen in healthcare, IT and realty stocks while

Yen rebounded broadly today as market participants interpreted comments from BoJ Governor Kazuo Ueda as a potential signal for a rate hike in December. Ueda noted that there is still a month before the next policy meeting and that the central bank will have a substantial amount of data to consider by then. While he

It’s a quiet one to start the week and also in terms of market moves so far. The dollar is keeping steady but failed to advance gains at the end of last week, and is seen little changed now. EUR/USD is still holding above 1.0500 while USD/JPY saw a tumble back under 155.00 but is

Gold prices have experienced a significant decline of around 6% since Diwali, driven by a stronger dollar and concerns over US inflation data. The price of 24-carat gold per 10 grams, which was Rs 80,710 on November 1, fell to Rs 74,031 at the last closing. This sharp correction reflects the ongoing global economic pressures

Dollar regained its dominance in the currency markets last week, surging ahead despite US Treasury yields struggling to break through resistance levels. Investors continued to adjust their expectations for Fed’s monetary policy, increasingly anticipating a slower pace of interest rate cuts with fewer adjustments in the coming year. This shift in sentiment was also reflected

The US CPI report yesterday here provided some reason for a push and pull in markets but ultimately, the dollar settled higher as it continues its post-election momentum. It’s tough to fight that especially with dollar bulls also seeking out key technical breaks on the charts. And the greenback is once again keeping a little

Written by , ETMarkets.com| Nov 13, 2024, 06:27:20 PM IST 1/6 New Lows On Wednesday, the Sensex, the benchmark index, dropped 984 points, closing at 77,691. Amid this downturn, five stocks from the BSE 200 index hit their 52-week lows. The 52-week low represents the lowest price a stock has traded at in the past year,

US stock futures have jumped in a relief rally following release of October US CPI data, which, while showing an uptick in headline inflation and steady core inflation, stayed within expectations. This in-line report eases fears of an inflation surprise that could disrupt Fed’s gradual easing path. Market sentiment has therefore strengthened, with Fed fund

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Despite the OPEC+ group’s recent decision to extend their production cut, weakness continued in global oil markets on faltering demand from China and swelling American supplies. Escalating geopolitical tension also added pressure on the demand outlook of the commodity. Oil has been trading in a tight range since the second half of 2022. It was

Dollar regained some strength in early US session, after a volatile week marked by high-profile events, including the US presidential election and Fed’s rate decision. The greenback’s pullback from its post-election spike now appears to be more of a consolidation rather than reversal of its bullish momentum. However, Dollar bulls may need to wait until

AI image Fox News has also called Pennsylvania in favour of Trump. With 93% of votes in, he is leading by 3 points there. In any case, this was inevitable and just a matter of time after the votes of Pennsylvania and Wisconsin didn’t really favour Harris whatsoever since the halfway mark here. Edison Research

Written by , ETMarkets.com| Nov 05, 2024, 08:25:31 PM IST 1/3 Stock Ideas Nifty opened on a negative note and had heavy selling pressure in the first half. However, the index recovered well in the second half to close on a positive note.“Technically, the Nifty formed a piercing line candle on the daily chart around the

Global currency markets are treading water today, as all eyes turn to the US presidential election, where Kamala Harris and Donald Trump are in a dead heat. Adding to the suspense, the Congressional elections will determine the president’s ability to push policy forward effectively, making the stakes especially high. Given the close race and critical

Markets: Gold down $10 to $2734 US 10-year yields up 10 bps to 4.38% WTI crude oil up 20-cents to $69.46 S&P 500 up 0.4% GBP leads, CHF lags The crosscurrents in markets continued on Friday as we count down to the US election. It’s tough to separate moves based on economic data from election