Gold (XAU/USD) started the new week under bearish pressure and fell by nearly 1% on Monday. Speaking at the annual meeting of the National Association for Business Economics, Federal Reserve (Fed) Chair Jerome Powell refrained from giving any new hints about the next policy move.
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Massive explosions’ in Beirut as Israel unleashes new air raids on Lebanon
Israel-Palestine conflict: Israel’s military unleashed a new wave of attacks on the southern suburbs of Beirut, causing “massive explosions”, with “flames reaching up to the sky and the sound reverberating” around the Lebanese capital, according to our correspondent.
Gold rate today jumps on safe-haven demand, Israel-Iran war in focus
Gold Rate Today: Amid rising tension in the Israel-Iran war, gold prices today witnessed some value buying in the early morning deals. In the early morning session on Friday, the yellow metal remains a safe haven for investors amid rising tension in the Middle East due to the Iran-Israel war. On the Multi Commodity Exchange (MCX), the gold futures contract for December 2024 expiry opened with an upside gap at ₹76,302 per 10 gm and touched an intraday high of ₹76,444 mark within a few minutes of the commodity market opening.
Crude oil near $71 amid Middle East tensions
Crude oil futures rose toward $71 per barrel, reaching a near one-month high as Middle East tensions escalated. Irans missile attack on Israel sparked concerns over potential disruptions in oil supply from the region, which accounts for a third of global production. Despite the tension, EIA data showed a 3.89 million barrel increase in U.S. crude inventories and weak gasoline demand. OPEC+ plans to restore some halted capacity starting in December, further easing concerns. MCX October delivery oil futures were up by Rs 57, trading near Rs 6000.
Adani Power inks BTA to acquire ADTPS
ADTPS supplies power under a long-term power purchase agreement (PPA) to the Mumbai power distribution circle of Adani Electricity Mumbai.
Nifty below 26,000 level; realty shares slides; VIX jumps 5.87%
The domestic equity benchmarks traded with major losses in morning trade amid escalating tensions in the Middle East. Israels ongoing attacks on Lebanon have heightened geopolitical uncertainty. The Nifty traded below the 26,000 level. Realty shares extended losses for the two consecutive trading sessions.
Investors are also eyeing a busy week of US economic data, culminating in the November jobs report, which could heavilty influence the Feds decision on interest rate cuts.
Vedanta shares surge, cross Rs 500 mark after disclosure of fourth interim dividend date
Shares of Vedanta Ltd rose over 5% on Thursday after the metal and mining firm said its board would consider fourth interim dividend for FY25 on Tuesday, October 8. Vedanta stock rose 5.24% to Rs 504.75 in the afternoon session against the previous close of Rs 479.60 on BSE. Market cap of the firm climbed to Rs 1.96 lakh crore. A total of 14.38 lakh shares of the firm changed hands amounting to a turnover of Rs 70.82 crore on BSE.