China's rapid development of a digital version of the yuan will not push the Federal Reserve to rush its own digital currency project, Federal Reserve Chair Jerome Powell said on Wednesday, adding that China's approach would not work in the United States.
Gold and silver prices soared today breaking losing streak
Breaking its five-day declining streak, MCX gold June futures on Thursday were trading higher at Rs 47,256 per 10 gram, as against the previous close of Rs 47,093. MCX silver June futures too moved up and were at Rs 69,788 per kg. Silver futures had closed at Rs 69,043 per kg in the previous session.
Gold prices broke their free fall after the US Federal Reserve decided to keep the interest rates unchanged to near zero in its meeting which ended on April 28.
Meanwhile internationally, gold prices rose on Thursday propelled by the US Federal Reserve s announcement to implement a friendly monetary policy aimed at helping economic recovery. At the same time, a weaker dollar provided further support.
ASX 200 index closes 0.3% higher; Australian shares extend gains to close near 14-month peak
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Last Updated: Apr 29, 2021, 02:28 PM IST
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Synopsis
The S&P/ASX 200 index closed 0.3% higher at 7,082.3. Gains in tech and gold stocks helped outweigh dismal trading updates from Woolworths and Fortescue Metals.
Agencies
Australia s biggest gold miner Newcrest jumped as much as 2.7% after posting production of 512,424 ounces for the March period, beating the 491,539 ounces tipped by RBC analysts.
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Australian shares closed at their highest level in nearly 14 months on Thursday, extending gains from the previous session when mild inflation data pushed the benchmark index to snap its two-day losing streak.
LONDON: Copper slipped on Thursday after briefly punching above the $10,000 level, last broken a decade ago, as speculators locked in profits amid worries about industrial demand.
Three-month copper on the London Metal Exchange touched $10,008 a tonne before retreating 0.3% to $9,847 a tonne by 1400 GMT.
The last time copper rose above $10,000 was in February 2011, when it touched a record of $10,190.
Copper and other financial markets got a boost after the U.S. Federal Reserve said on Wednesday it was too early to consider rolling back its emergency pandemic support.
But the market was vulnerable from the weight of bullish investors piling in, said Ole Hansen, head of commodity strategy at Saxo Bank in Copenhagen.
US Fed, F&O expiry to drive equities on Thursday
US Federal Reserve Chairman Jerome Powell said on Wednesday that it is not time yet to start talking about tapering the central bank s asset purchase program despite a strengthening economic recovery.
By IANS
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US Federal Reserve Chairman Jerome Powell said on Wednesday that it is not time yet to start talking about tapering the central bank s asset purchase program despite a strengthening economic recovery. We ve said we would let the public know when it is time to have that conversation. We said we would do that well in advance to the decision of tapering, Powell said at a virtual press conference after the Fed concluded a two-day policy meeting, Xinhua news agency reported.