The markets are having a rough adjustment to the return of the Chinese markets are the week-long holiday. The cut in the required reserves failed to lift investor sentiment. The Shanghai and Shenzhen Composites fell almost 4%, and the yuan slid nearly 0.8%. It is an unusually large decline for the closely managed currency.
Business News
Why You Should Run And Buy Gold Now – Gold Silver Reports
LONG before we had wallets full of credit cards, even before we had the old ‘paper’ money, the most common way to buy things was with gold.
The Value of $1 in Indian Rupee (₹) History – Gold Silver Reports
As we can see, there has been a clear upward trend in the Dollar value, set against INR. The question becomes why. Why is the value of Indian Rupee continuously depreciating, reaching its lowest ever?
Reasons For The Rupee’s Fall – Gold Silver Reports
Reasons for the rupee’s fall
Global crude oil prices have been on a steady ascent, straining India’s finances. In October, brent crude oil prices breached the $85-per-barrel level for the first time in over four years. There are concerns that the $100-level may not be too far.
Job Growth Slumps in September, But the Unemployment Rate Hits the Lowest Level Since 1969
Job creation for September fell to its lowest level in a year though the unemployment rate dropped to a point not seen in nearly 50 years, according to Labor Department figures released Friday.
Gold Trapped in Tight Range – Gold Silver Reports
Spot gold edged 0.3 percent higher to $1,191.41 per ounce, having fallen to a more than six-week low of $1,180.34 on Sept. 28. U.S. gold futures rose 0.2 percent to $1,194.10.
Gold, Silver Zoom After Stocks Sell-off – Gold Silver Reports
Spot gold jumped 1.3 per cent to $US1,202.81 per ounce overnight, and was on track to post its biggest one-day percentage gain since August 24.
Gold is Doing Something it Hasn’t Done in Nearly 30 Years
Gold’s on track for its longest losing streak in almost 30 years, but Jeff Kilburg, a CNBC “Futures Now” trader, says the yellow metal could be due for a comeback.
Data on China’s Manufacturing Growth will Likely show Further Slowdown in September
The Caixin Purchasing Managers’ Index for China’s manufacturing sector is expected to come in at 50.5 points for September, according to estimates by Reuters. That’s below August’s 50.6 points and the lowest reading since June 2017.
US Crude Up 55 cents, Settling at $72.12, as Markets Frets over Iranian supply Gaps
GSR (Gold Silver Reports) — U.S. President Donald Trump last week demanded that OPEC raise production to prevent further price rises ahead of key congressional elections in early November.