Gold prices today fall sharply, silver rates slump ₹900
Premium
1 min read
Gold is now down about ₹7500 from record highs
Share Via
Read Full Story
Gold prices fell sharply in Indian markets with MCX February futures slumping below the ₹49,000 level. Gold was down 0.9% or ₹450 to ₹48,860 per 10 gram while silver futures slumped 1.4% or ₹900 to ₹65,127 per kg. The precious metal is now down about ₹7500 from record highs of ₹56,200, hit in August.
In global markets, gold prices were lower today amid higher US Treasury yields and a stronger dollar. Gold was at $1,840 an ounce, down 0.3%. Bond yields and the dollar rose today after a report indicated that US President-elect Joe Biden plans a massive Covid-19 relief package of about $2 trillion.
forecasts
AUD/USD and NZD/USD Fundamental Daily Forecast – Traders May Get Some Guidance from Fed Chair PowellThe Aussie is currently straddling the midpoint of its range for the year at .7743 while the Kiwi is trading just below its same mid-point at .7232.
Jan 14, 2021 06:47 AM GMT
The Australian and New Zealand Dollars are inching higher on Thursday, but trading inside yesterday’s range suggesting investor indecision and impending volatility as investors awaited more guidance on U.S. monetary policy and whether the recent spike Treasury yields was just a flash in the pan or the start of longer-term shift.
At 06:17 GMT, the AUD/USD is trading .7763, up 0.0029 or +0.38% and the NZD/USD is at .7205, up 0.0027 or +0.38%.
Jobs Market Has Long Recovery Ahead, Says Fed s Powell morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
Getty Images / Tasos Katopodis
Federal Reserve Chairman Jerome Powell reiterated Thursday that the central bank is far from tapering its asset purchases or raising interest rates. Now is not the time to be talking about an exit from easy monetary policy, the central bank chief said in a virtual discussion.
The comments come after various Fed officials suggested that inflation could pick up faster than expected and, in turn, prompt an early rate hike.
Powell rebuffed fears of an unexpected policy shift, noting the central bank will notify the public well in advance if it is considering changes to its policy stance.