Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
'Higher interest rates make gold less attractive as it doesn't generate yield.' 'However, with rates set to fall, the tables are turning for gold.'
'A 10 to 15 per cent allocation to gold in portfolios reduces risk without compromising on potential returns.'
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Demonstrators hold up signs during a protest over the freezing of deposits by some rural-based banks outside a People's Bank of China building in Zhengzhou, Henan province, China
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
The People's Bank of China has picked up a 0.006 per cent stake in ICICI Bank by investing Rs 15 crore in the private sector lender's Rs 15,000 crore qualified institutional placement (QIP) exercise which concluded last week.
People's Bank of China's holding in HDFC stood at 1,74,92,909 equity shares, accounting for 1.01 per cent of the share capital of the company as of March-end, as per exchange data.
Gandhi had, on April 12, flagged the issue of alleged takeover of some Indian companies after those became vulnerable in the wake of the economic slowdown.
Chinese tech unicorn ByteDance co-founder billionaire Zhang Yiming on Thursday announced that he will step down as CEO, in a surprise move that signalled a major leadership shake-up at the nine year-old technology firm which created popular global short-video app TikTok. Zhang, 38, who is one of China's wealthiest entrepreneurs, said he is ready to step down after nearly a decade of running the world's largest unicorn, becoming the latest among the country's technology founders to quit in their prime. Zhang will step down from his role as CEO of the Beijing-based ByteDance, giving up his day-to-day responsibilities to "be more impactful on longer-term initiatives," the Hong Kong-based South China Morning Post quoted the company announcement on Thursday.
The decision to permit the third child came after this month's once-in-a-decade census showed that China's population grew at the slowest pace to 1.412 billion amid official projections that the decline may begin as early as next year.
Dealers attributed the fall to the dollar's gains after China devalued yuan, which pushed up demand from importers for the US currency.
China's birth rate has been in decline since 2017, despite easing of the 'one-child policy' in order to avert an incoming demographic crisis.
Both central banks targeted interbank rates to control the supply of money, aiming for a more surgical monetary tool than orthodox bank reserves or policy interest rates.
Despite the relaxation of the one-child policy in 2016, the number of live births per 1,000 people fell to a record low of 10.48 in 2019, down from 10.94 in 2018.
Why is China's supreme leader promoting Han Chauvinism so aggressively, asks Claude Arpi.
Since China activated exchange rate reform in 2005, the value of RMB yuan against US dollar has surged by more than 30 per cent, he said refuting persistent US allegations that as world's largest exporter China benefited by keeping low exchange rate for its currency.
The Chinese central bank on Monday warned the country could face huge uncertainties in the wake of slow world recovery process and the unstable economic and financial situation in Europe.
The overall confirmed cases on the mainland have reached 81,518 as of Monday, which included 3,305 people who died of the of disease.
The yellow metal has risen 6.6 per cent since mid-August
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
China's foreign exchange reserves hit a new high of $ 2.85 trillion in 2010 but the 18.7 per cent increase over last year sparked concerns about the country's already excessive liquidity which was blamed for high level inflation in the country.
Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan ($1.19 billion) by the end of the third quarter, up 8.5 per cent from the second quarter, the People's Bank of China said.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
The prime interest rate levels have hit 'record lows' and fiscal deficits 'have soared', is the sobering analysis of Zhou Xiaochuan, Governor of the People's Bank of China, on the global economy.
Grand schemes for macroeconomic policy coordination have a mixed record.
The onshore yuan trading band is tightly controlled.
China's central bank has finally acknowledged that the nation's booming red-hot economy is facing increasing pressure from spiralling prices and inflation risks are "worthy of attention".
Monetary policy easing, coupled with the relaxation of lending rules and greater election-driven fiscal spending in the first quarter of 2019, will provide some support to growth during the first half of 2019-20 fiscal
The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
'The virus of trust deficit seems to be taking a toll of the friendship built over the years by succeeding leaderships of the two countries,' notes Rup Narayan Das.
China will reform its foreign exchange system in an orderly way and will not bend to pressure from the US to float the yuan, governor of the People's Bank of China, Zhou Xiaochuan has asserted.
The US dollar surged to fresh one-year high after the Fed chief's testimony to the US Senate on Wednesday bolstered the expectations of interest rate hikes, though gradually.
'India-China economic ties are likely to take a hit in the wake of the new situation, but that also provides India with a new opportunity to strengthen its manufacturing base,' points out Dr Rajaram Panda.
The rupee has fallen more than 2 per cent against the dollar since the yuan devaluation
China's forex reserves witnessed an increase of $509.7, a 12.8 per cent rise from 2012, People's Bank of China said.
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
China has launched a host of reforms to halt the slow down of the economy, which is hovering around seven per cent with forecasts that it would dip down further.
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