Gold Rallies as Crude Loses Steam

Mr. Gnansekhar
Teaser: Gold prices soared to a one-week high on Friday, on course for their first weekly rise in four months, as lower oil prices alleviated concerns about protracted inflationary pressures. Brent crude oil prices fell for the third day in a row as fading concerns about Saudi supply interruptions overcame concerns about a worsening war in the Middle East. Lower oil prices alleviated some inflation concerns, but the potential of a Middle East supply shock remained a major issue. The dollar surged to a more than seven-week high, making greenback-priced bullion pricey for holders of other currencies. According to the CME FedWatch tool, market participants are now pricing in a 55% possibility of another US rate hike when central bankers meet in October.

Add a Comment

Recent Blogs


THE MIRROR HAS TWO FACES: A 5 TRILLION ‘LOSS’ BECAUSE OF THE FCNR(B) SCHEME AS BEING ATTRIBUTED BY AN AUGUST SCHOOL OF NAYSAYERS IS ACTUALLY A 5.5 TRILLION PROFIT NOTIONALLY FOR THE BANKS AND RBI

SBI Research 

India’s much billed FCNR(B) deposit scheme was indeed a grand success with $127 bn mobilized with a short span of less than 3 mon

Read More

The Silver Jubilee of Modi’s Governance: From the Rubble of Kutch to the Era of Amrit Kaal

Krishna Shah 

When Narendra Modi assumed office as Chief Minister of Gujarat in October 2001, the state was reeling from the catastrophic Kutc

Read More
https://www.Counters-Free.net