Gold Silver Reports — Shares of jewelers climbed in India after the government set the rate for gold under the uniform goods and services tax below expectations, signaling a potential recovery in demand in the world’s second-largest market.
Economic
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FCI RAISES RECORD WHEAT PROCUREMENT TARGET FOR MY 2017-18
Gold Silver Reports — The FCI has fixed a procurement target of 33 million tonnes for the 2017-18 fiscal starting April, against the 22.96 million tonnes purchased in the previous year, when production was low at 92.29 million tonnes.
Federal Reserve Officials are Widely Expected to Interest-Rate Increase
Gold Silver Reports — Federal Reserve officials are widely expected to announce an interest-rate increase this week amid buoyancy in the stock market and indications the U.S. economy continues to grow steadily, without signaling they anticipate accelerating their pace of policy tightening.
Beyond the expected announcement Wednesday of a quarter-point hike in the U.S. central bank’s benchmark rate target, to a range of 0.75 percent to 1 percent, investors will be looking for whether policy makers change their forecasts for the rest of 2017 and beyond.
India and Russia are Nearing a Joint Venture
Gold Silver Reports — India and Russia are nearing a joint venture to make light helicopters in India, reviving a plan announced by Russian President Vladimir Putin in 2015.
Gold Returned to Levels seen Before the U.S. Election
Gold Silver Reports — Gold returned to levels seen before the U.S. election as equities retreated and the dollar vacillated ahead of a major speech next week by President Donald Trump.