Below the Quote on Gold Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
COMEX Gold (December) surged to $2,560/oz on Friday but closed the week flat at $2,524.6/oz as the mixed US jobs report left the debate over a potential 25 or 50 bps rate cut unresolved. Nonfarm payrolls increased by 142,000, marking a three-month average low since mid-2020, while the unemployment rate fell to 4.2%, its first decline in five months. Average hourly earnings rose 0.4% m...
Quote on Gold Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hinted at a potentiall...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities
COMEX gold (December) hit an all-time high of $2,549.99 per ounce today, extending gains from Friday, when weaker US housing data fueled speculation about larger and faster rate cuts. Gold prices closed last week at $2533.70 per ounce, staging a sharp rebound from below $2,470 per ounce hit after mixed US data, stronger retail sales and lower unemployment claims, hint...
Quote On Gold and Crude by Kaynat Chainwala, Senior Manager - Commodity Research, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold (December) surged by 1.2% to an all-time closing high of $2,504 per ounce on Monday, driven by escalating tensions in the Middle East, a decline in U.S. Treasury yields, and expectations of Federal Reserve rate cuts at its September 18 meeting. In a surprising shift, Fed Governor Michele Bowman, typically known for her hawkish stance, expressed a more neutral view, ackn...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold closed marginally higher at $2,480.80/oz yesterday after retreating from its record high of $2,506.60/oz owing to recovery of the US dollar following a sharper-than-expected contraction in the US manufacturing PMI, which fell to an eight-month low of 46.8 in July from 48.5 in June. However, significant downside was limited as US jobless claims rose by 14,000 to 249,000, the ...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Below the Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities
Comex Gold prices held above $2,400, breaking a four-day losing streak on Tuesday, as the market awaited clarity on the Fed's first interest rate cut. Today, Comex Gold continues to hold gains, trading above $2410 per ounce amid anticipation of upcoming US data releases that could support Fed rate cuts. US personal consumption expenditures, Fed’s preferred underlying inflatio...
Quote on Gold and Crude by Kaynat Chainwala, AVP-Commodity Research, Kotak Securities