Indian Rupee
Reasons For The Rupee’s Fall – Gold Silver Reports
Reasons for the rupee’s fall
Global crude oil prices have been on a steady ascent, straining India’s finances. In October, brent crude oil prices breached the $85-per-barrel level for the first time in over four years. There are concerns that the $100-level may not be too far.
Gold Prices Up for 3rd Day in Row, Silver Rates Gain
Gold Silver Reports (GSR) – Global spot gold rate was steady at $1,213.05 an ounce, as of 0650 GMT, after hitting as high as $1217.85 in early trade. US gold futures were down 0.2% at $1,221.4 an ounce. Gold prices had rebounded on Friday from a 17-month low of $1,204 per ounce as dollar slipped after data showed US job growth slowed in July.
Gold Prices Recover on Positive Global Cues – Gold Silver Reports
Gold Silver Reports (GSR) – Marketmen said firm global cues where gold inched up as the US dollar slid lower after strong US economic growth data while concerns remain about trade tensions between the US and Europe, attributed the recovery in gold prices, the agency reported.
Gold Price Maintains Uptrend on Global Cues, Jewellers’ Buying
Gold Silver Reports (GSR) – In the national capital, gold of 99.9% and 99.5% purity advanced by ₹130 each to ₹30,970 and ₹30,820 per 10 grams, respectively. The precious metal had gained ₹40 in the last two days. Sovereign, however, remained unchanged at ₹24,700 per piece of eight grams.
Rupee Kiss All-Time Low – Fir Bhi Mera Desh Mahan
Gold Silver Reports (GSR) – Rupee Hits All-time Low – Bond traders in India will be keenly watching the rupee’s movement while an auction of Rs 12,000 crore of sovereign debt will also provide cues for next week.
Expect Rupee To Depreciate Further Before Stabilising: Mizuho Bank
Expect Rupee To Depreciate Further Before Stabilising: Mizuho Bank – Mizuho Bank expects the Indian rupee to depreciate further before stabilising, its Strategist Tirthankar Patnaik said.
“Global uncertainty and higher crude prices will weigh on the rupee,” adding that the pressure on the local currency is fairly strong.