US dollar and gold face off amid mixed economic data

-


MUMBAI: The US dollar strengthened on mixed economic data while the precious metal fell. Amid mixed economic data, the dollar and gold stood side by side. The market is eyeing the meeting of the Federal Reserve next week. Gold and silver at home followed the world market and softened over the weekend. The dollar weakened moderately against the rupee. Global crude oil prices improved over the weekend.

99.90 gold per ten gram was Rs 60,168 without GST in the Mumbai jewelery market. 99.50 was Rs 59927 per ten grams. With GST, prices were said to be three percent higher. The non-GST price of silver .999 per kg came down to Rs 74,000 to Rs 73,868. With GST, the prices were raised by three percent.

In the Ahmedabad market, gold of 99.90 ten grams was sold at Rs 62000 and 99.50 at Rs 61800. Silver .999 per kg used to be Rs 73800 per kilo. In the world market, gold was priced at $1983.15 per ounce while silver was priced at $24.83 per ounce.

Mixed economic data in the US weighed on the precious metal while the dollar index rose due to fund buying. The GDP figure for the March quarter came in lower than expected at 1.10. On the other hand, jobless claims came down. Jobless claims which came in at 2.46 lakh in the week of April 15, decreased to 2.30 lakh at the end of April 22. With jobless claims falling, the job market is believed to be tight.

In such a situation, there is a prevailing opinion in the market that the Federal Reserve will increase the interest rate in next week's meeting. The dollar index rose to 102.04. In the domestic money market, the dollar fell by 2 paise to Rs 81.83, while the pound gained 8 paise to Rs 101.92 and the euro fell by 42 paise to Rs 89.91.

Crude oil in the world market rose from a low. Nymax WTI was at 75.21 dollars per barrel while ICE Brent crude oil was at 79.11 dollars. Crude oil production cuts by OPEC, which take effect next week, are believed to have supported prices.

Comments

Post a Comment

Popular posts from this blog

Due to the ban, employment and economic activity declined by two to three percent

-
Image
New delhi date. October 7, 2019, Monday A new study has found that employment and economic activity have declined by two to three percent due to the ban. A similar situation has been observed in bank lending. The study found the decline to occur within two months of the notation announced on November 7. This is the first research on demineralization in which data on the effects of districts across India were collected. In addition to the districts, the effect of national level was also studied. Previous studies only examined the national level effect of demonitization. Thus, a full estimate of the overall effect is not known. As a result of the shortage of cash arising out of the blockade, the country's economic activity fell by approximately 8 percent in November-December 2 In the October-December period, bank credit has seen an impact of around two per cent. Cash pulls have impacted demand for a short period. The study found that there was a strong link between money and pro
Read more

Information about soymilk and casein products

-
Image
- Industrial guidance - Dhiru Parekh Soymilk: Soybeans are converted to high-quality protein. So that high quality drinks can be made which can be easily digested. There is no difference between soymilk and cow's milk. So the conservative industries of milk processing are now using this milk to make yogurt and ice cream. Consumers also cannot tell the difference between ice cream made from cow's milk and from soy milk. Also, the production capacity of soy milk can be increased than that of cow's milk. And the price can be cheaper. Soybeans mainly contain two types of enzymes that are inactivated in the soymilk process. Leukoxidase that catalyzes the oxidation of fatty acids. And enzymes like pepsin, trypepsin are included in it. Which helps in digesting protein. Soyamilk powder manufacturing process: This is an electric pre-heater system. which basically allows fluid to flow easily in a stationless tube under low-voltages. which absorbs the energy flowing through the Ja
Read more

The brokerage firm objected to SEBI's new proposal regarding Algo Trading

-
Image
MUMBAI: Brokerage firms and fintech companies have objected to market regulator SEBI's discussion paper considering all stock trading orders issued through Application Programming Interface (API) as separate trading, saying it could adversely affect the growth of such trading from India. Algo trading is considered to be an automatic buying-selling system based on algorithms. SEBI has recently said in a discussion paper that it would create a framework for regulating Algo trading by retail investors. A senior official of a brokerage firm said that monitoring of Algo trading is a need of the hour, but such an attempt could hamper the growth of Sebi Algo trading. He added that if the suggestions made in the SEBI discussion paper were implemented, it would be difficult for brokers to make the API available. About 70% of the daily trading volume in Indian stock markets is transacted through advanced forms of algo trading. Algo Trading came to India in the year 2006, but then only se
Read more