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Hans India
14 hours ago
- Business
- Hans India
Silver hits record Rs 1.15 lakh per kg, gold crosses Rs 1 lakh mark again
New Delhi: Gold and silver prices surged sharply on Wednesday, with both precious metals scaling new heights in the domestic market amid mixed global cues. While 24-carat gold breached the Rs 1 lakh mark per 10 grams again, silver touched a new all-time high of over Rs 1.15 lakh per kg. The price of 24-carat gold increased by Rs 1,025, from Rs 99,508 on Tuesday to Rs 1,00,533 per 10 grams, according to data published by the India Bullion and Jewellers Association (IBJA). The price of 22-carat gold also saw a notable rise, climbing to Rs 92,088 per 10 grams from Rs 91,149. Similarly, the price of 10 grams of 18-carat gold increased from Rs 74,631 to Rs 75,400. The price of silver increased by Rs 1,357, from Rs 1,14,493 a day earlier to Rs 1,15,850 per kg. Silver has increased by more than 34 per cent since January 1 this year, when it was priced at Rs 86,055 per kg. Meanwhile, in the futures market, gold and silver continued their upward trend. On the Multi Commodity Exchange (MCX), the gold contract for August 5 was trading 0.17 per cent higher at Rs 1,00,500. The silver contract for September 5 rose 0.58 per cent to Rs 1,16,323. Globally, however, trends were mixed. On COMEX, gold prices dipped slightly by 0.08 per cent to $3,441.10 an ounce, while silver rose 0.52 per cent to $39.76 an ounce. Experts noted that domestic gold prices remained range-bound near record levels, influenced by steady international gold rates and a stable rupee. Silver, on the other hand, continued its strong upward momentum both domestically and internationally. "Gold prices remained range-bound near higher levels, with MCX trading close to Rs 1,03,500, taking cues from COMEX gold, which held steady around $3,424. The rupee also stayed flat, limiting volatility in domestic gold prices," said Jateen Trivedi of LKP Securities. Investors now await key economic cues from upcoming US Manufacturing and Services PMI data. In the short term, gold is expected to trade within a range of Rs 99,000–Rs 1,01,500 on MCX, Trivedi said.
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Business Standard
2 days ago
- Business
- Business Standard
Rupee snaps four-day fall amid dip in oil prices; opens at 86.25/$
Indian Rupee today: The domestic currency opened 5 paise higher at 86.25 against the dollar on Tuesday SI Reporter Mumbai The Indian Rupee saw marginal gains at open, a day after falling to the lowest in one month, amid a decline in crude oil prices. The domestic currency opened 5 paise higher at 86.25 against the dollar on Tuesday, according to Bloomberg. The rupee has witnessed nearly 0.79 per cent depreciation in the current calendar year. The rupee touched a recent low of 86.3625 on Monday but is expected to open slightly stronger at 86.21 today, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "The rupee is likely to continue moving within the broader range of 85.50-86.50." The currency fell for the fourth straight session on Monday due to sustained dollar demand from importers. Selling in equity markets also weighed on the currency. On Monday, FPIS sold equity worth ₹1,681.23 crore and has offloaded stocks worth ₹4,742 crore so far this month. Investors' focus will be on US Fed Chair Jerome Powell's speech today, along with money supply data. On the tariff front, the next round of formal negotiations between India and the US has been pushed beyond the August 1 deadline amid continued uncertainty over an interim trade deal. Uncertainty over the eventual state of tariffs globally has been a huge overhang for the forex market, analysts said. After falling for five straight months, the dollar index has recovered 1.5 per cent in July on strong economic data and less probability of an immediate rate cut. The measure of the greenback against a basket of six major currencies was up 0.06 per cent at 97.91. Meanwhile, oil prices fell as traders priced in little impact of European sanctions against Russia, while signs of a brewing US-EU trade conflict also weighed. Brent crude price was down 0.75 per cent at 68.69 per barrel, while WTI crude prices were lower by 0.76 per cent at 66.69, as of 9:10 AM IST.
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Business Standard
3 days ago
- Business
- Business Standard
Rupee extends losses even as oil prices, dollar decline; ends at 86.30/$
The Indian Rupee extended its decline to the weakest level in nearly one month even as crude oil prices and the dollar index edged lower. The domestic currency closed 14 paise lower at 86.30 against the dollar on Monday, according to Bloomberg. The rupee has witnessed over 0.8 per cent depreciation in the current calendar year. Most Asian currencies traded lower during the day. The rupee has declined nearly 1 per cent over the past two weeks and is now trading close to its lowest level in almost a month as traders' focus remains on a possible tariff deal with the US ahead of the August 1 deadline. The trade deal with the US remains stalled due to unresolved issues around agriculture and automobiles, according to Anil Kumar Bhansali, head of treasury and executive director at Finrex Treasury Advisors LLP. Markets will closely watch remarks from US Federal Reserve Chair Jerome Powell on Tuesday, especially after criticism from the US President over his reluctance to cut rates. Rupee traded weak as focus shifts to this week's Fed Chair Powell's speech, which is expected to drive volatility in the dollar index, according to Jateen Trivedi, VP research analyst - commodity and currency at LKP Securities. "Additionally, key economic indicators such as Manufacturing and Services PMI will be closely tracked by market participants. The rupee is likely to continue moving within the broader range of 85.50-86.50." In India, attention is also turning to the possibility of domestic rate cuts, following a sharper-than-expected decline in inflation to 2.1 per cent, a more than six-year low, Bhansali said. "The combination of falling inflation, surplus liquidity, and weak high-frequency data suggesting a potential economic slowdown is contributing to pressure on the rupee." After falling for fice straight months, the dollar index has recovered 1.5 per cent in July on strong economic data and less probability of an immediate rate cut. The measure of the greenback against a basket of six major currencies was down 0.24 per cent at 98.24. Key global events this week include a speech by US Fed Chair Powell and ECB President Lagarde on July 22. Crude oil prices wavered higher as traders assessed the impact of new European sanctions on Russian oil supply. Brent crude price was down 0.49 per cent at 68.94 per barrel, while WTI crude prices were lower by 0.34 per cent at 67.11, as of 3:36 PM IST.
Hans India
4 days ago
- Business
- Hans India
Market outlook: Q1 results, PMI data, global cues to drive stock market in upcoming week
Mumbai: The upcoming week is expected to be crucial for Indian stock markets, with a mix of domestic and global factors likely to influence investor sentiment including key Q1 earnings, PMI data, infrastructure output figures, and developments around the India-US trade deal. Between July 21 and 25, several major companies -- including Dr. Reddy's Laboratories, Bajaj Finance, Nestle India, and Cipla -- will announce their financial results for the first quarter (Q1) of FY26. The market will also react to the earnings of heavyweights like Reliance Industries, HDFC Bank, and ICICI Bank. On the macroeconomic front, India will release data on core infrastructure output as well as Manufacturing and Services PMI. These indicators are critical to assessing the overall health of the economy. Globally, any fresh updates on the India-US trade negotiations, fluctuations in crude oil prices, and upcoming inflation and interest rate data from major economies could sway market sentiment. Last week, benchmark indices witnessed volatility. The Sensex dropped 742 points or 0.90 per cent to close at 81,757, while the Nifty slipped 181 points or 0.72 per cent to settle at 24,968. In contrast to large-cap weakness, mid- and small-cap stocks outperformed. The Nifty Midcap 100 gained 462 points or 0.79 per cent to 59,104, while the Nifty Smallcap 100 added 196 points or 1.05 per cent to end at 18,959. Among sectoral indices, Auto, PSU Banks, Pharma, FMCG, Metal, Realty, Media, Energy, and Commodities ended in the green. However, IT, Financial Services, and Private Banks saw declines. Ajit Mishra of Religare Broking said, "Nifty closed below the key psychological mark of 25,000, indicating persistent caution in the market. A break below the immediate support level of 24,900 could open the door to further downside, potentially dragging the index towards the 24,450–24,700 range in the coming sessions."
Globe and Mail
20-04-2025
- Business
- Globe and Mail
Tech Earnings, Trariffs and Other Key Things to Watch this Week
Last week saw markets navigate volatile trading amid escalating trade tensions and mixed economic signals. The S&P 500 ($SPX) (SPY) showed resilience despite ongoing tariff concerns, with investors parsing through financial sector earnings and adjusting expectations following Fed Chair Powell's commentary on monetary policy. Retail sales data provided fresh insights into consumer health while markets continued to assess the broader economic impact of trade policies. Here are 5 things to watch this week in the Market. Heavy Tech Earnings Week This week brings a significant slate of technology earnings, headlined by Tesla (TSLA) on Tuesday, followed by Alphabet (GOOGL) and Intel (INTC) on Thursday. Tesla's report will be closely watched for production numbers, margins, and commentary on demand trends amid increasing EV competition. Alphabet's advertising revenue growth and cloud performance will provide insights into digital ad spending and enterprise technology investments. Intel's results come at a critical juncture as the company attempts to regain competitive footing in the semiconductor industry. Given technology's outsized market influence, these reports could significantly impact broader market sentiment and influence sector rotation strategies, particularly as investors continue to assess AI investment trends and valuation sustainability. Industrial Sector Health Check A cluster of industrial bellwethers report this week, including 3M (MMM) on Tuesday, Boeing (BA) on Wednesday, and several materials companies including Freeport-McMoRan (FCX) on Thursday and Schlumberger (SLB) on Friday. These reports will provide critical insights into manufacturing activity, industrial demand, and supply chain conditions amid ongoing trade tensions. Boeing's results will be particularly scrutinized for updates on production issues and aircraft deliveries, while materials companies will offer perspective on global commodity demand and pricing trends. Together, these reports will help traders assess whether the industrial sector is maintaining momentum or facing headwinds from tariff impacts and shifting global trade patterns. Services vs. Manufacturing Dynamics Wednesday's flash Manufacturing and Services PMI readings at 9:45am will offer timely insights into business activity across major economic sectors. These preliminary April indicators will help determine whether manufacturing continues to show signs of stabilization while services maintain their growth trajectory. The divergence between these sectors has been a notable economic trend, with services continuing to outperform manufacturing for several quarters. Any convergence in performance could signal changing economic dynamics. The reports' details on new orders, employment, and prices will provide valuable forward-looking indicators about business confidence and inflation pressures. Given recent concerns about uneven economic performance, these diffusion indices could significantly impact market sentiment and sector positioning. Housing Market Resilience Thursday's Existing Home Sales report at 10am will help assess whether the housing market is maintaining momentum despite persistently high mortgage rates and affordability challenges. As one of the most interest-rate sensitive sectors of the economy, housing activity provides important signals about monetary policy transmission effects. The report's details on inventory levels, median prices, and days on market will offer insights into supply-demand dynamics and potential future construction activity. Housing-related stocks including homebuilders, home improvement retailers, and mortgage lenders could see notable reactions based on these results. With housing's important role in consumer wealth effects and broader economic momentum, this report takes on additional significance for gauging economic health. Tariff Developments and Global Trade Markets remain highly sensitive to evolving trade policy developments, with particular focus on implementation details, potential carve-outs, and international responses to recent tariff announcements. Comments from administration officials, trading partners, and corporate executives about supply chain adjustments and pricing implications will be closely monitored. Industries with significant international exposure including technology, industrials, and consumer products may see pronounced reactions to evolving trade policy details. With durable goods orders data releasing Thursday at 8:30am, traders will have an opportunity to assess whether tariff concerns are beginning to impact business investment decisions. The combination of trade headlines and economic data could create significant market volatility as investors continue to evaluate the longer-term implications of shifting trade policies. Best of luck this week and don't forget to check out my daily options article.
