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.
Gold inched higher but was on track for its longest monthly losing streak since January 1997 as the U.S. dollar firmed against the euro after Italy’s budget jitters threatened the European currency.
US gold futures were up 0.1 per cent at $1,200.40 an ounce.
Spot gold had risen 0.2 per cent to $1,196.21 as of 0057 GMT. On Wednesday, the metal touched its lowest since September 11 at $1,190.93 an ounce.
GSR (Gold Silver Reports) — While other data still have yet to show the trade war impact, industrial profits seem to show that the trade war is eating up profits of manufacturers in China, and even more so for foreign manufacturers.
Information received since the Federal Open Market Committee met in August indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low. Household spending and business fixed investment have grown strongly.
Gold Silver Reports (GSR) — Two-day policy meeting could mark the formal end of the “accommodative” level of rates the Fed has used to support the American economy since the onset of the 2007-2009 recession.
✅ Draghi’s comments come ahead of the Fed’s two-day meeting and anticipated rate hike Wednesday, but they also come as the Bank of Japan sounds slightly less dovish and other central banks raise their interest rates.
Gold Silver Reports (GSR) – India’s Wholesale Inflation Hits Eight-Month Low In March – India’s wholesale price inflation eased to an eight-month low in March on the back of softer rise food prices — Inflation measured by the Wholesale Price Index stood at 2.47 percent last month, compared with 2.48 percent in …
Gold Silver Reports (GSR) – Bank of Korea Holds Interest Rate as Inflation Trails Target – The economy remains on track to grow 3 percent this year but inflation is projected to register 1.6 percent, slightly below the central bank’s previous forecast, Governor Lee Ju-yeol said during a news conference.
Gold Silver Reports (GSR) – Market players will be watching out for inflation and industrial production data today which due at about 5:30 pm. Retail inflation is seen at 4.10 percent in March versus 4.44 percent in February, while February factory output data is expected at 6.8 percent versus 7.5 percent in January.