India's central bank will cut its key policy rate in December by a quarter point to 6.25% to bolster slowing economic growth, according to a slim majority of economists in a Reuters poll who also expect inflation to moderate in the near-term. Inflation unexpectedly spiked to 5.49% in September, but was forecast to cool to … Read more
As gold prices continue to surge amid geo-political tensions, the Reserve Bank of India (RBI) had 854.73 metric tonnes of gold as of September 30 and out of which, 510.46 metric tonnes were held domestically. Gold held domestically surged more than 102 tonnes between April and September this year to 510.46 metric tonnes, against 408 … Read more
Gold hit an all-time peak on Wednesday as investors flocked towards the safe-haven metal less than a week before the U.S. presidential election, while they awaited economic data for clues on the Federal Reserve's rate stance. Spot gold was up 0.2% at $2,779.39 per ounce as of 0308 GMT, after hitting an all-time high of … Read more
Oil prices stabilised on Wednesday on industry data showing a surprise drop in U.S. crude and gasoline inventories, following two previous sessions of losses on the prospect of hostilities easing in the Middle East. Brent crude futures gained 21 cents, or 0.3%, to $71.33 a barrel by 0002 GMT. U.S. West Texas Intermediate crude futures … Read more
Indian buyers of gold brushed off record high prices and made purchases for the Dhanteras and Diwali festivals starting on Tuesday, hoping bullion would continue to rally and deliver promising returns amid a cooling stock market, industry officials told Reuters. Robust demand in the world's second-biggest gold consumer could further support global prices, which hit … Read more
The dollar hovered close to a three-month peak on Wednesday in a big week for macroeconomic data that could reveal the path for U.S. monetary policy. The Australian dollar edged closer to a three-month trough after some stickiness in inflation suggested a Reserve Bank of Australia interest rate cut is unlikely this year. Mixed U.S. … Read more
The Indian rupee will be supported on Wednesday by the dip in U.S. Treasury yields and a reprieve for its Asian peers. The one-month non-deliverable forward indicated the rupee will open flat to marginally higher than its close of 84.0750 per U.S. dollar in the previous session. The 10-year U.S. Treasury yield retreated, having hit … Read more
Asia shares eased on Wednesday on the back of weakness in China, as investors brace for a tightly contested U.S. election that could have huge ramifications for the world's second-largest economy, even as Beijing tries to shore up growth. Gold rose to an all-time high as jitters over the close U.S. presidential race supported the … Read more
Indian shares are set to open flat on Wednesday, with traders expecting caution to prevail due to persistent foreign selling and dull corporate earnings as investors await key U.S. data and outcome of the U.S. presidential election. The Gift Nifty futures were trading at 24,445.5, as of 07:55 a.m. IST, indicating that the benchmark Nifty … Read more
India’s gaming market is expected to leap from $3.7 billion in FY24 to an estimated $ 9.8 billion by FY29, with a robust CAGR of approximately 20 per cent, according to a report on Tuesday. The report, by 1Lattice, a tech-enabled market intelligence firm, highlights mid-core and hardcore gaming segments as key growth drivers. It … Read more