EUR/USD supported above 1.1400, Euro area investor sentiment hits highest in a year
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
2 hours ago
- Time of India
Gold price prediction: Analysts forecast gold rates for August
Gold price was down throughout the previous week as gold rate was down by over one per cent to $3,335.60. Gold prices are expected to witness further consolidation in the coming week as investors brace for a slew of events, including the US Federal Open Market Committee (FOMC) meeting's outcome, to global trade negotiations, analysts said. Gold will also face tough challenges from developments related to the August 1 trade deal deadline. August 1 marks the end of the suspension period of Trump tariffs imposed on dozens of countries, including India. Gold Rate to Remain Low On the global front, Comex gold futures for August delivery slipped by USD 37.90 or 1.12 per cent to close at USD 3,335.60 per ounce in New York. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Technology Artificial Intelligence healthcare Project Management Others MBA Data Science Degree PGDM Design Thinking Management Data Analytics MCA Cybersecurity Leadership Product Management Digital Marketing CXO Data Science Healthcare Finance others Public Policy Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details N S Ramaswamy, Head of Commodity & CRM, Ventura , said gold saw a sharp drop from USD 3,438 to USD 3,335.60 per ounce amid an extended tariff truce between the US and China, which has added to this sentiment. Gold may stay weak as hopes of more trade deals or tariff delays before the August 1 deadline, Ramaswamy stated. Safe haven demand seems to have vanished and has lifted the US stocks and Treasury yields, buoyed by strong AI-linked corporate earnings and risk-on appetite. The next move in gold will depend on whether the US Fed signals a more dovish stance or if tensions flare again on the tariff front, he said. Live Events Ramaswamy added that a possible resumption of Chinese central bank gold buying could offer support later in 2025, but for now, the market may remain in a phase of consolidation. When will Gold Price Rise? Gold prices may see some consolidation in the week ahead as the focus will be on the outcome of trade negotiations between the US-Euro zone and the US-China along the policy meeting of the US Federal Reserve and Bank of Japan, both of them expected to keep interest rates on hold. However, their official commentary will be closely watched, Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said. Gold prices have had a good ride in July; however, the correction was driven by lower safe-haven demand and expectations of a breakthrough in trade deals, Prathamesh Mallya, DVP - Research, Non-Agri Commodities and Currencies at Angel One, said. Mallya expects that precious metal prices to remain under pressure and added that the US GDP data will also play a critical role in shaping gold's trajectory in the short term. FAQs Q1. What is the current gold price? A1. Globally, spot gold is trading around $3,348–$3,350 per ounce, well above the $3,300 mark reached earlier in July. Analysts noted record highs of about $3,500 per ounce in April, with sustained demand from investors and central banks pushing prices higher. Q2. What are experts forecasting for gold prices in 2025? A2. HSBC has revised its 2025 average forecast upward to $3,215/oz (up from $3,015), with a year-end projection of $3,175/oz and a 2026 forecast of $3,025/oz. It anticipates gold trading between $3,100 and $3,600/oz for the rest of the year. Other institutions offer similarly bullish targets: Citi sees $3,000/oz, Goldman Sachs targets $3,100/oz, and UBS projects $3,200/oz in 2025. Some long-range forecasts even suggest $4,000/oz by mid-2026 if current geopolitical and economic stresses persist.
Time of India
2 hours ago
- Time of India
UK firms can offer telecom, construction services in India without local office under FTA
Companies from the UK will be able to offer services in sectors such as telecom, and construction in India without setting up a local presence, under the free trade agreement signed between the two countries. The British firms will be treated on par with Indian firms. Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity MBA Technology others Data Analytics healthcare CXO Artificial Intelligence Others Data Science Public Policy MCA Design Thinking Management Leadership Product Management Operations Management Healthcare Digital Marketing Finance Degree PGDM Data Science Project Management Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details The Comprehensive Economic and Trade Agreement (CETA) was signed on July 24 in London. It may take about a year for items implementation as the free trade pact needs approval from the British Parliament. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas Prices In Dubai Might Be More Affordable Than You Think Villas In Dubai | Search Ads Get Quote Undo "UK companies can now provide telecom, construction, and related services in India without establishing a local presence, enjoying full national treatment, meaning they will be treated on par with Indian firms," the commerce ministry said. Services is a key chapter in the agreement as both countries are strong in different kinds of services. Live Events India enjoys a trade surplus of around USD 6.6 billion with the UK. The country's services exports stood at USD 19.8 billion and imports at USD 13.2 billion. In the agreement, the UK has provided a comprehensive and deep market access in 137 sub-sectors to Indian firms. On the Indian side, commitments have been extended in 108 sub-sectors, granting UK firms access to domains like accounting, auditing, financial services (with FDI capped at 74 per cent), telecom (100 per cent FDI allowed), environmental services, and auxiliary air transport services, it said.
&w=3840&q=100)
Business Standard
2 hours ago
- Business Standard
Citi launches Strata Elite Card to compete with AmEx, JPMorgan Chase
There's a new but familiar face coming to the world of high-end credit cards. Citigroup is launching the Strata Elite Card, the bank's latest attempt to grab a piece of the high-fee, high-rewards credit card market that's dominated by American Express' Platinum Card and JPMorgan Chase's Sapphire Reserve Card. The card, which is priced less than the Platinum Card and the Sapphire Reserve Card at an annual fee of USD 595, will offer points multiples for certain types of spending, like hotels, car rents, air travel and restaurants. Additionally, the card will offer points for everyday spending, as well as a USD 300 hotel credit and a USD 200 splurge credit at brands like Best Buy, Live Nation and others. Citi has had other forays into the high-end credit card market. The company launched Citi Prestige in 2013 as a direct competitor to the American Express Platinum Card, and the card won high praise from travel fanatics when it debuted for its hefty rewards program and perks. But Prestige lost its prestige when Chase launched the Sapphire Reserve Card, a credit card that was an instant hit when it was released in 2016, and when AmEx overhauled the Platinum Card to be more competitive. Citi stopped allowing new applications for Prestige in 2021, but the card's benefits still exist for customers carrying the card. Strata Elite is facing a highly competitive marketplace. Along with the Platinum Card and Sapphire Reserve, there are other rewards-heavy cards like Capital One's Venture X Card and a coming high rewards card from credit card upstart Bilt early next year. Chase raised the annual fee on Sapphire Reserve to USD 795 as part of a product refresh in June, and American Express has indicated it will be revising the Platinum Card's rewards and perks later this year. A customer who ends up carrying two of these high-fee cards can quickly spend more than USD 1,000 on annual fees. So far, credit card companies have been able to justify these fees by attaching lucrative perks to the cards, like travel or other spending credits, and generous rewards programs, effectively marketing them as a high-end subscription plan. But it's not clear how willing customers are to carry several of these cards each year. This is the third in the Citi Strata card family, following a similar formula to other banks where there's a good, better, best choice for customers. The other cards are the Citi Strata Card and Strata Premier. The biggest earning potential on Citi's new card is by booking travel through Citi's new travel portal, which gives 12 times points on Citi's Thank You rewards programme. Credit card companies are trying to push customers onto their own travel portals, where banks can contract directly with airlines and hotels and make sure customers use their branded credit cards when travelling. American Express, Chase and Capital One have all built out their travel services in recent years and are increasingly offering customers better rewards and redemptions for using their services instead of booking through a place like Expedia.
