As markets await Federal Reserve (Fed) Chairman Jerome Powell’s reaction to the recently hawkish US data, sluggish inflation expectations seem to challenge the US Dollar Index (DXY) bulls during early Monday in Asia, following a two-day rebound from the multi-month low.
US-China tussles add strength to geopolitical tension and favor Gold sellers
US-China tension is extra burden for Gold (Yellow Metal)— Other than the United States data and monetary policy moves at the European Central Bank (ECB), as well as at the Bank of England (BoE), the latest geopolitical tension surrounding the US and China also exerts downside pressure on the Gold price.
Federal Reserve will hike the fed funds rate 25 basis points to 4.75%
After seven straight rate hikes totaling 4.25% and an eighth anticipated on Wednesday, Federal Reserve governors are preparing to halt their inflation campaign and wait for results.
Import duty on gold reduced from 12.50% to 10% (Gold Import Duty 2023)
Import duty on gold: Gold prices plunged over Rs 2,100 on Monday after the Union Finance Minister Nirmala Sitharaman announced the changes in customs import duty rate for precious metals.
Silver import duty increased from 10.75% to 15%
New Delhi, Feb 1 (GoldSilverReports) – India raised total taxes on silver imports 15% and on silver dore to 14.35%, the government said in a statement on Wednesday, in an effort to align the duty structure of the metal with gold.
KPIT Technologies Shares Volatile Post Q3 Earnings
The shares of KPIT Technologies traded between gains and losses after it clocked better-than-expected results in the third quarter ended December.