Latest news with #ManeeshSharma
Time of India
02-07-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed in the near future what levels will it hit? Here's the outlook
Gold price prediction: Gold witnessed volatile last week ending with corrective moves. (AI image) Gold price prediction today: Gold prices are expected to continue being volatile amidst emerging global economic situations. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for g old investors: Gold witnessed volatile last week ending with corrective moves seen on easing geopolitical tensions & some trade policy progress. Economic data showed mixed trends with soft US indicators, sluggish from the euro area, while the UK, Japan and India improved. Global equities rose, with US benchmarks hitting new highs, while Treasury yields and the dollar fell, and oil prices declined. Gold was seen breaching key supports below $ 3330 in spot last week, indicating prices continuing to consolidate below all time highs hit in the last week of April. The de-escalation of the Israel–Iran conflict, the trade agreement with China, and ongoing negotiations between the United States (US) & its peers to reach commercial deals were welcomed by investors last week, who had previously sought refuge in Bullion's safe-haven demand. US Job market numbers are key this week following a tandem decline in the US 2-year Treasury yield & dollar, as the Fed's Bowman joined Waller in voicing support for a July cut. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Free P2,000 GCash eGift UnionBank Credit Card Apply Now Undo With President Trump also pressuring Powell to cut rates, the speech by Fed chair is also closely being scrutinized on timings of rate cut in coming months. Also with a jampacked shortened data week in the US, possibilities of market volatility also remains in the North American session on Tuesday & Thursday. The markets are currently pricing in a smaller chance that the next rate reduction by the Fed will come in July and see a roughly 75% probability of a rate cut as soon as September. This, along with concerns about the worsening US fiscal condition, dragged the US Dollar to its lowest level since February 2022 on Tuesday lending additional support to the yellow metal. Weekly View (Gold): Volatile In International spot markets, a further bounce towards $ 3380 – 3400 per oz remains a hurdle on a weekly basis in Spot (CMP $ 3350 per oz). Overall broad trading range could remain $ 3395 – 3250/Oz. On MCX this could translate to a trading range of Rs 98,500 – 96,000 / 10 gm. on a weekly basis (CMP Rs 97,400/10 gm). Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
25-06-2025
- Business
- Time of India
Gold price prediction today: Where is gold rate headed amidst easing Iran-Israel tensions? Here's the outlook
Gold rate today: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions. (AI image) Gold price prediction today: Gold rates have been declining amidst easing Iran-Israel tensions and lower demand for safe haven assets. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations for gold investors: Weakening bias may persist after a volatile week as prices cools off in line with easing geopolitical tensions Last week global central banks showed caution with mixed policy moves, the US Fed continued to pause, signalling slower cuts on stagflation concerns, Swiss and Norwegian banks did cut, while BoE and the BoJ held steady. Economic data highlighted strains across regions amid escalating geopolitical risks. Global equities mostly closed lower on Middle East tensions, while US Treasuries rallied, the dollar edged up, and oil advanced. In the current week gold started with a modest upside on escalating middle east geopolitics but gave up gains on Tuesday as the US President Donald Trump announced that both nations had agreed to a complete ceasefire, adding that Iran will begin the truce immediately, followed by Israel. The yellow metal also hit an all-time high last week on MCX after Israel launched military operations targeting Iran's nuclear power plant sites. Investors now turn their attention to Federal Reserve Chair Jerome Powell, who is set to testify before US Congress on Tuesday and Wednesday, for any signals on the future path of interest rates. After setting a record just over $3,500 an ounce in April in spot markets, gold had consolidated in a roller coaster ride, while bearish sentiment has now started to seep into the market despite geopolitical tensions. This is due to the fact that gold prices have now discounted major fundamentals while a wave of corrective moves looks likely in July month. On the fundamental side, prices could look ahead to Fed Chair testimony for further clues on monetary policy outlook amid a data heavy week ahead. Gold Weekly View: Sideways to Downside (1 - 2 weeks) Gold Strategy: Sell on Rise MCX Gold looks to test downside support at around Rs. 95,200 - 94,800 per 10 gm levels on Aug. futures contract (CMP Rs. 97,240) in the weeks ahead. In International spot markets (CMP $3320/oz), a close below $ 3270 on daily basis is required for further downside up to $3225-3220 per oz in spot. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
21-06-2025
- Business
- The Print
Rupee recovers from two-month low level; settles 18 paise higher at 86.55 against US dollar
At the interbank foreign exchange, the domestic currency opened at 86.65 and traded in a narrow range of 86.55-86.67, before ending the session at its intra-day peak of 86.55 against the US dollar, registering a gain of 18 paise from previous closing level. A robust sentiment in domestic equity markets further supported the local unit, according to forex traders. Mumbai, Jun 20 (PTI) The rupee snapped its three-day losing streak and settled with a gain of 18 paise at 86.55 against the US dollar on Friday, buoyed by a massive inflow of foreign capital, retreating crude oil prices and a weakening greenback. The rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday, logging a combined loss of 69 paise in the past three sessions. According to Maneesh Sharma, AVP – Commodities & Currencies, Anand Rathi Shares and Stock Brokers, the rupee gained on Friday but declined a little over 1 per cent this month so far, 'with a large portion of its decline occurring after Israel attacked targets in Iran last Friday'. Dilip Parmar, Research Analyst, HDFC Securities, attributed the rupee's resurgence to 'a revitalisation in the domestic stock markets and a subdued greenback, which receded following reports of President Donald Trump postponing a decision regarding an Iran strike'. Additionally, Parmar said, lower imported commodity prices lent additional buoyancy to the local rupee. 'In the near-term, the spot USD/INR pair faces resistance at 87.10 and finds support at 86.45. The overall bias for the USD/INR pair remains favourable,' he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30 per cent lower at 98.60. In the domestic equity market, the 30-share BSE Sensex surged 1,046.30 points to settle at 82,408.17, while Nifty soared 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36 per cent to USD 76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth Rs 7,940.70 crore on a net basis on Friday, according to exchange data. The latest weekly data released by the Reserve Bank of India on Friday showed India's forex reserves rose USD 2.294 billion to USD 698.95 billion during the week ended June 13. However, government data showed the country's eight core sectors' growth slowed down to 0.7 per cent, lowest in nine months, in May 2025 against 6.9 per cent in the same month last year. In April, the growth in output of these key infrastructure sectors were recorded at 1 per cent. PTI TRB HVA This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
The Hindu
20-06-2025
- Business
- The Hindu
Rupee rises 14 paise to close at 86.59 against U.S. dollar
The Rupee appreciated by 14 paise to close at 86.59 (provisional) against the U.S. dollar on Friday (June 20, 2025) aided by a fall in global crude oil prices and a weakening greenback. A strong show in the domestic equity markets and FII inflows further supported the local unit, according to forex traders. At the interbank foreign exchange, the Rupee opened at 86.65 against the U.S. dollar and traded in a narrow range of 86.55-86.67 before settling at 86.59 (provisional), up 14 paise. The Rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday (June 19, 2025), logging a combined loss of 69 paise during the past three sessions. "The Rupee eased today (June 20, 2025) but declined a little more than 1% this month so far, with a large portion of its decline occurring after Israel attacked targets in Iran last Friday(June 13, 2025). The attacks also raised concerns about disruption of global oil prices, sending Brent crude oil futures to a five-month peak around $79 per barrel," Maneesh Sharma, AVP-Commodities & Currencies, Anand Rathi Shares and Stock Brokers, said. "The local currency ... was comforted by a dip in oil prices after the White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war," Mr. Sharma said. Meanwhile, expectation that HDB Financial IPO is likely to witness significant inflows is seen as positive for the Rupee as broad range of 86.20-86.70 may persist during start of the next week, he added. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30% lower at 98.60. In the domestic equity market, the 30-share BSE Sensex jumped 1,046.30 points to settle at 82,408.17, while Nifty surged 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36% to $76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth ₹934.62 crore on a net basis on Thursday (June 20, 2025), according to exchange data.
Time of India
18-06-2025
- Business
- Time of India
Gold price prediction today 24 karat India: Where is gold rate headed amidst Iran-Israel tensions? Here's the outlook
24 Karat gold price could remain subdued in the near term amid lack of fresh demand cues in global markets. (AI image) Gold price prediction today: Gold rates have been in focus for the last few days due to increased safe haven demand amidst the escalating Iran-Israel conflict. All eyes this week will be on the US Federal Reserve's commentary on rate cut possibility. Gold prices are expected to remain volatile in the near future. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold prices ended the last week with gains amid escalating Middle-East tensions & rising bets of a Federal Reserve (Fed) rate cut. Investors ignored the upbeat US economic data released last week as geopolitical tensions remained the major focus of the current week. In other news, due to a combination of central bank gold buying & surging price of gold, the yellow metal overtook the euro as the world's number two reserve asset as gold made up 19.6 percent of global reserves, with the Euro accounting for 15.9 percent. The survey carried out by World Gold Council expected 95% of respondents believing that global central bank gold reserves to increase over the next 12 months as a record 43% of respondents also believe that their own gold reserves will also increase over the same period and none anticipate a decline in gold holdings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Godrej Majesty | Luxurious 3 & 4 BHK Homes at ₹2.39 Cr* Godrej Majesty Learn More Undo In China, the recent US-China trade truce still faced challenges as military-use rare earth exports were unresolved. This remained after China refused to approve exports of specific rare earth metals used in US weapon systems, maintaining a chokepoint in the global supply chain. Focus this week to remain on any escalation in the middle east crisis, along with global central banks including US monetary policy meetings. The Bank of Japan had foregone another interest rate hike this year due to uncertainty over US tariff policy. However, all eyes remain on the June 18 Fed meeting, where the dot plot and Powell's tone may define gold's path for the rest of 2025. US Policymakers are expected to monitor inflation through the coming months till September before considering any moves. Overall Markets continue to price in two rate cuts later this year, likely in the second half. On the other hand, traders may also closely monitor further rise in Oil prices which may keep Indian rupee under pressure keeping domestic prices elevated in near sessions. For Gold, a breach of all time high levels in spot markets cannot be completely ruled out in the coming week while volatility & profit booking moves could also persist at higher levels. On the lower side a resistance turned support around $ 3360 per oz remains critical on a weekly basis, a sustainable breach below which only prices could drift lower towards $ 3280-3250 levels in Spot. Gold Price Weekly View: Volatile (1 – 2 Weeks) Broad trading range on MCX futures (Aug CMP Rs 99,385) remains around Rs 97,200 - 1,02,500 per 10 gm Meanwhile Silver is expected to trade with a positive bias as it may test Rs 1,10,000 - 1,13,000 per Kg on MCX (Aug) futures contract on the higher side in 1 - 2 weeks perspective. Gold rate in India has seen a notable decrease across all purities and quantities in the last few days as higher prices have continued to dampen physical demand in India especially for jewellery. 24 Karat gold price could remain subdued in the near term amid lack of fresh demand cues in global markets. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
