Crude Oil prices were mixed on Monday as investors balanced expectations the OPEC will cut output to support prices against concerns sparked by Federal Reserve Chairman Jerome Powell saying the United States will face slow growth “for some time”.
Mukesh Ambani At RIL’s 45 AGM
The 45th annual general meeting (AGM) of Reliance Industries Ltd (RIL), India’s largest company in terms of market-capitalisation, has commenced. RIL Chairman and Managing Director Mukesh Ambani will deliver the keynote address.
MCX Gold to Trade Sideways: Support at Rs 50300 [29-Aug-2022]
![MCX Gold to Trade Sideways: Support at Rs 50300 [29-Aug-2022]](https://www.goldsilverreports.com/wp-content/uploads/2021/03/jewellers-shop-14032021.webp)
MCX Gold Price Forecast: Commodity prices traded mixed with bullion prices declined for the week witnessing selling in the second half of the week. Base metals ended in green on tight supplies and China stimulus hopes. Crude oil prices traded higher gaining on lower supplies and expectation of OPEC output cut.
Gold Tumbles to One-Month Low as Rates Look Likely to Stay High
Gold dropped for a second day after Federal Reserve Chair Jerome Powell pushed back against hopes the US central bank would start easing monetary policy soon, signaling instead that interest rates would keep rising and remain elevated to stamp out inflation.
Indian Rupee Hits Record Low As Dollar Index Surges
The Indian rupee hit its lowest level against a strengthening U.S. dollar after Jerome Powell’s hawkish remarks at Jackson Hole.
NDTV Founders Seek SEBI View On Warrants Conversion By Adani Group
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.
Dow Jones and S&P 500 Cratered on Powell Comments
US stocks sank on Friday after Federal Reserve Chair Jerome Powell delivered remarks from the Jackson Hole Economic Symposium. The Fed chief didn’t throw the markets any huge surprises, although you wouldn’t know that from the market reaction. The benchmark S&P 500, Nasdaq-100, and Dow Jones Industrial Average traded fell 3.37%, 4.10%, and 3.03%, respectively.