The US Federal Reserve lowered its benchmark interest rate by a half percentage point (50 basis points) on Wednesday, in an aggressive start to a policy shift aimed at bolstering the US labour market.Projections released following their two-day meeting showed a narrow majority, 10 of 19 officials, favoured lowering rates by at least an additional…
Representative image Gold prices soared to an all-time high on Friday as the dollar weakened amid prospects of super-sized reduction in U.S. interest rates next week, while palladium has gained over 15% so far this week. Spot gold was up hitting a record 0.3% at $2,567.23 per ounce by 0703 GMT, after high of $2,570.21…
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.“The time has come for policy to adjust,” Powell said Friday in the text…
Chairman Jerome Powell said the time has come for the Federal Reserve to cut its key policy rate, affirming expectations that officials will begin lowering borrowing costs next month and making clear his intention to prevent further cooling in the labor market.“The time has come for policy to adjust,” Powell said Friday in the text…
Gold prices edged lower on Friday but were headed for their third consecutive quarterly rise, while investors looked toward key U.S. inflation data due later in the day that could throw some light on the Federal Reserve‘s stance on interest rate cuts. FUNDAMENTALS * Spot gold was down 0.3% at $2,321.39 per ounce, as of…
Gold prices climbed to a record high on Monday after U.S. economic data last week cemented bets that the Federal Reserve could cut interest rates twice this year. FUNDAMENTALS * Spot gold was up 0.6% at $2,430.19 per ounce, as of 0118 GMT. Bullion hit a record high of 2,440.49 earlier in the session. *…
Gold prices edged up for a second session on Tuesday, after recent economic data boosted bets that the Federal Reserve would cut interest rates later this year. FUNDAMENTALS * Spot gold rose 0.2% at $2,327.11 per ounce, as of 0034 GMT. U.S. gold futures firmed 0.2% to $2,336.20. * Traders are pricing in a 64%…
NEW DELHI: Gold prices have experienced a notable surge in recent weeks, with the yellow metal witnessing an increase of over 11% in India alone. A recent report from Goldman Sachs highlights that this surge is not solely driven by traditional factors, indicating a shift in the dynamics of the gold market. The report underscores…
Gold prices touched a record high on Monday after data showed that U.S. inflation moderated in February, boosting bets for the Federal Reserve‘s June interest rate cut. FUNDAMENTALSSpot gold rose 1% at $2,255.39 per ounce, as of 0103 GMT. Bullion hit a record high of $2,256.09 per ounce earlier in the session. U.S. gold futures…
Surging gold prices are prompting some Indians to exchange gold jewellery for new pieces as demand rises during the wedding season in the biggest consumer of the precious metal after China. More Indians are looking to reuse their gold, and the higher prices mean imports will remain pressured in the coming months, said Surendra Mehta,…
