Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Rising for the sixth consecutive session, gold prices rallied Rs 1,000 to hit yet another record high of Rs 105,670 per 10 grams in the national capital on Monday, lifted by expectations of a rate cut by the US Federal Reserve this month and robust demand in overseas markets.
Gold prices are expected to witness further consolidation in the coming week as investors brace for a slew of events, ranging from central bank meetings, including the US Federal Open Market Committee (FOMC) meeting's outcome, to global trade negotiations, analysts said.
IMAGES from Day 1 of the US Open matches played at Flushing Meadows, New York on Sunday.
The US dollar has risen about 15 per cent since mid-2015.
Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds
Fear of a recession in the US due to rising unemployment has added to the concerns of India's IT services sector, which was seeing some growth returning after Q1FY25 results. The Nifty IT closed 3.26 per cent down, as major IT services companies' stock value fell. Tata Consultancy Services (TCS), India's largest IT services firm, saw its stock price fall 4 per cent during intraday trading.
Federal Reserve Chair Janet Yellen on Wednesday pointed to a possible December interest rate "liftoff" but said rates would rise only slowly from then on to nurture the U.S. economic recovery.
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
It was truly heartening to see how the Sikh community had risen to the occasion during the Black Lives Matter peaceful protests and the coronavirus pandemic and selflessly served those looking for nourishment.
The bankruptcy filing of Lehman Brothers on September 15, 2008 brings back the most vivid memories of the crisis.
Some Manchester United fans had previously urged Musk on Twitter to consider buying the club
Bullion may settle with limited upside potential
Rupee ends flat against dollar ahead of Fed policy outcome.
Images from the US Open women's singles final at Flushing Meadows, New York, on Saturday.
Some investors had speculated that the US central bank might put its plans on hold given the jitters overseas.
Many are reportedly too weak to stand or talk. The detainees include Sikhs, Gujaratis and Bengalis, and from Punjab in Pakistan.
The next policy meeting will be in mid-June, when the panel will be joined by Stanley Fischer, the former Bank of Israel governor whose nomination to the Fed's board was confirmed on Wednesday by the US Senate.
Bodies of eight persons were found on Friday in a marsh on the riverbank near Akwesasne, a community which straddles Quebec, Ontario and New York state.
Explosions shook cities and towns across Ukraine in the second-largest attack this week on Friday.
The nomination would put Yellen on course to be the first woman to lead the institution.
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
Images from the US Open women's semi-finals on Thursday.
Chanting slogans of "Modi Modi" and India-US friendship, Indian Americans walked in a procession for over an hour towards the historic Lincoln Memorial where the participants busted into an impromptu dance.
Summers dogged by controversies over past views
The failure of SVB was due to idiosyncratic reasons, but shows how higher rates can expose fault lines in unforeseen places, observes Neelkanth Mishra.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
March and April payrolls were revised to show 32,000 more jobs.
"I probably wouldn't do much," Buffett said when asked what he would do if he ran the Fed.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
IMAGES from Day 8 of the action at the US Open at USTA Billie Jean King National Tennis Center at Flushing Meadows in New York on Monday.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
The confrontation comes days after the FBI executed a search warrant at former president Donald Trump's Florida estate.
Naomi Osaka's management team told Reuters via email that she would be participating at Flushing Meadows.
Of the 30-share Sensex pack, 15 today closed in the red
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Despite their opposition based on ideology, both the political Right and the political Left possess similar behaviour, observes Shyam G Menon.
Much of the the-foreign-media-is-biased hysteria that we see on social media these days is provoked by the bad press the regime is getting in the West, points out Vir Sanghvi.
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