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Gold (XAUUSD) & Silver Price Forecast: Metals Hold Gains as Fed Cuts Loom and Dollar Slips
Gold prices (XAU/USD) remained firm above $3,300 during Thursday’s Asian session, supported byexpectations of monetary easing and a pullback inthe U.S. dollar. Although the broadermarket embraced a riskon tone amid renewed optimism over U.S.-China trade negotiations, gold maintained a modest bid, trading around $3,312 after trimming early session gains.
USD/INR jumps amid tensions over Kashmir, rising US Dollar demand
The Indian Rupee (INR) faces some selling pressure on Thursday as terrorist attacks in Kashmir, India, weighed on sentiment. Furthermore, rising crude oil prices undermine the Indian currency, as India is the world’s third-largest oil consumer.
United States is preparing to reduce tariffs on China by 50%, WSJ reports.
The Trump administration would look at lowering tariffs on imported Chinese goods pending talks with Beijing, a source familiar with the matter said on Wednesday, adding that any action would not be made unilaterally.
IndusInd Bank shares in focus after clarification on Rs 600 crore EY audit
Shares of IndusInd Bank Ltd are in focus on Wednesday morning after the private bank said it is not engaged with accounting firm Ernst & Young (EY) for a forensic audit as reported in a news report earlier. Instead, the lender insisted it is engaged with EY as a part of the process of finalisation of accounts by the bank’s Internal Audit Department (IAD). The private lender admitted it is conducting a review of the bank’s MFI business to examine “certain concerns” that have been brought to the bank’s attention.
Havells India rallies 10% in 1 month; Nomura, Nuvama see scope for another 10% surge
The Havells India share is down a whopping 3% in an otherwise positive market. In fact, most analysts believe there is some amount of profit booking in the stock after the recent run-up in the share price. The share price of Havells India has rallied 13% in the past 30 days. Good news for investors- key brokerages like Nomura and Nuvama indicate that the stock promises big returns over the next 12 months
Trump confirmed that he will not remove Fed Chairman Powell. Due to which gold fell
Gold prices drop as Wednesday’s Asian session begins, which is sponsored by Trump’s comments that he is not looking to fire Fed Chair Jerome Powell. At the time of writing, Yellow Metal plunges over 1% and trades at $3,291.