Morning Report : Gold gains as the dollar retreated slightly ahead of a key US - Swastika Investmart
Precious Metals
Gold gains as the dollar retreated slightly ahead of a key US inflation reading that could provide clues on the monetary policy path. However, a surprise rate cut from the Swiss National Bank prompted bets that other major central banks could ease policy earlier and faster than the Fed, boosting the dollar
Base Metals
Copper prices rose as the piling up of inventories in top consumer China slowed. Copper inventories in warehouses tracked by the SHFE fell for the first time on a weekly basis since Dec. 22 to 285,090 tons.
Energy
Crude oil prices rose on concerns over tighter global supply brought about by escalating conflicts in the Middle East and between Russia and Ukraine. Natural gas eased on forecasts for milder weather over the next two weeks, ample gas in storage and expectations gas flows to LNG export plants would remain low.
Currency
Rupee fell to its lowest level on record against the U.S. dollar, weighed down by broad weakness in its Asian peers and aggressive local dollar demand.
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