India’s stock benchmarks declined, dragged by broad based losses across sectors led by information technology stocks. The sharp fall comes after U.S. Federal Reserve officials emphasised the need to continue with monetary tightening in the central bank’s efforts to rein in inflation. The comments have spurred a decline in global equities.
Ananya
Breaking: Fed’s Powell says restoring price stability to require a restrictive policy stance for ‘some time’
US Federal Reserve (Fed) President Jerome Powell is delivering opening remarks and speaking about the policy outlook at the central bank’s annual Jackson Hole Economic Symposium, in Wyoming.
Gold Prices To trade sideways: Powell’s Jackson Hole Event Speech Eyed
Gold Price Today, Gold Price Outlook, Gold Price Forecast: COMEX gold trades modestly higher near $1770/oz supported by weakness in the US dollar and pause in US bond yields as market players position for Fed Chairman’s comments at the Jackson Hole Symposium. With mixed US economic data showing signs of stress in the economy, market players are assessing if the Fed may take a less hawkish stance.
Spot Gold Forecast For Today: Jackson Hole Economic Symposium Eyed
Jackson Hole Economic Symposium: Federal Reserve officials maintained their hawkish view and were committed to getting inflation back to its 2% target, minutes from the July 26-27 meeting showed. Participants at the session said that for the central bank to scale back its rate hikes, inflation reports due to be released before the next meeting would need to confirm that the pace of price growth was cooling.
Silver Forecast for Today: Daily Close Above $20.20 Needed For Silver to Move Up
Silver Forecast for Today: Silver price (White Metal) fades corrective pullback from the monthly low marked the previous day as it renews its daily bottom around $18.92 during Tuesday’s Asian session. In doing so, the bright metal justifies the downbeat oscillators while extending the six-day downtrend below a one-week-old descending resistance line.
New issue of sovereign gold bond scheme opens today. 10 things to know
The issue price for the next tranche of Sovereign Gold Bond Scheme (SGB) 2021-22, which will open for subscription for five days from Monday, has been fixed at ₹5,197 per gram of gold, the Reserve Bank of India (RBI) said on Friday.
Gold Price Forecast: Below $1744 Target Key Level $1735—$1720
Gold Price Forecast: Yellow Metal (XAU/USD) price drops for the fifth-consecutive day, set to finish the week down by 3%, triggered by sentiment shifting sour, while the US dollar reaches a five-week high against a basket of currencies. At the time of writing, gold is trading at $1746 a troy ounce.