The price of gold (Yellow Metal) rallied on Thursday and was coming to a close near the highs of the day of $1,901 at $1,898, ending up over 1.54%. The uncertainty surrounding the Russian NATO crisis over Ukraine appears to be generating solid demand for gold as a haven.
Yellow Metal Approaches $1,880 Again on Reports of Ukrainian Firing
Russia-Ukraine Tensions: Yellow Metal price (Gold price) is seeing a buying resurgence and looks to challenge the 3-month highs of $1,880 once again, asa freshwave of risk-aversion hit markets on the Ukrainian firing reports.
Nifty to Face Major Hurdles at 17810 Mark
“Volatility could be the hallmark until investors are certain that Russia will not invade Ukraine. Nifty will face major hurdles at 17810 mark and would gain strength only above 17810 mark. Intraday hurdles at 17420mark. For the day, support seen at 17208 and then at 17057. Expect waterfall of selling now only below 16800 mark.”
Gold Price Target $1,910 on a weekly close above $1,877
Gold Price Target And Forecast: Gold continues to improve, but still has more work to do to mark an important break higher, in the opinion of strategists at Credit Suisse.
Breaking: FOMC minutes say most participants suggested a faster pace of interest rate increases versus 2015
Breaking: FOMC minutes say: The minutes of the 25-26 January FOMC meeting, released on Wednesday, said that most participants suggested that a faster pace of increases in the target rate for the Federal Funds rate than in the post-2015 period would likely be warranted.
FOMC Minutes Eyed for Clues on Half-Point Hike, Runoff Plans
Fed FOMC Meeting Minutes: Investors gauging the likely size of the Federal Reserve’s interest-rate hike in March and plansfor shrinking a balance sheet now at a record $8.9 trillion will get fresh clues on Wednesday.
Crypto Is Like a ‘Ponzi’ Scheme, India’s Central Bank Warns
In a strong warning to Prime Minister Narendra Modi’s government, a top official at India’s central bank reiterated concerns over cryptocurrency trading, likening the virtual coins to Ponzi schemes.