Gold Silver Reports (GSR) – MCX Gold Prices Ready for Blast Above @30533 Buy on Dips — MCX Gold Prices settled up 0.48% @30670 as Wall Street stocks tumbled and the dollar fell as rhetoric from U.S. President Donald Trump and Chinese officials fed worries about a possible trade war, and after U.S. jobs data came in weaker than expected.
Interest Rates
Federal Reserve Raises Interest Rates at First Meeting with Powell at Helm
Gold Silver Reports (GSR) – The Federal Reserve raised interest rates by a quarter point on Wednesday, its first rate hike this year, in a decision that was widely anticipated by markets.
India’s Current Account Deficit Shrinks More Than Estimated
Gold Silver Reports – India’s current account deficit narrowed more than estimated last quarter, which could help the rupee before an expected rise in interest rates by the U.S. Federal Reserve.
Bank of England Hikes Rates
Gold Silver Reports – Bank of England Hikes Rates – The Bank of England raised interest rates for the first time in more than 10 years on Thursday and said it expected only “very gradual“ further increases over the next three years.
Janet Yellen’s Outlook for Higher U.S. Interest Rates
Gold Silver Reports — Janet Yellen’s Outlook for Higher U.S. Interest Rates — They should’ve had more faith. Hedge funds reduced their wagers on a bullion rally for the first time in three weeks, just before prices neared a two-month high and capped a third straight week of gains.
Gold Lost The Most in 11 Weeks as The Dollar Gained
Gold Silver Reports – Gold lost the most in 11 weeks as the dollar gained on speculation that the Federal Reserve is still on track to boost U.S. interest rates this year.