Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
Gold prices rose Rs 550 to Rs 97,350 per 10 grams in the national capital on Monday amid rise in precious metal rates in the global markets. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 96,800 per 10 grams on Friday.
Gold of 99.5 per cent purity also appreciated Rs 550 to Rs 96,900 per 10 grams on Monday. The yellow metal had settled at Rs 96,350 per 10 grams in the previous market session.
Meanwhile, the most traded June contract for gold futures rallied Rs 1,663, or 1.8 per cent, to Rs 94,300 per 10 grams on the Multi Commodity Exchange.
However, silver prices declined Rs 400 to Rs 96,700 per kg from the previous close of Rs 97,100 per kg, as per the Sarafa Association.
Spot gold in the international markets rose USD 46.34, or 1.43 per cent, to USD 3,286.83 per ounce.
'Gold surged to USD 3,280 per ounce on a softer dollar ahead of the upcoming US Fed's two-day Federal Open Market Committee (FOMC) policy meeting starting on Tuesday.
'…market participants are cautiously eyeing Fed Chair Jerome Powell's post-decision press conference. Further, uncertainty around US-China trade developments is likely to keep risk sentiment cautious,' Kaynat Chainwala, AVP of Commodity Research at Kotak Securities, said.
Spot silver climbed 1.24 per cent to USD 32.41 per ounce.
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Associated Press
an hour ago
- Associated Press
Multiple Research Results from Innovent's General Biomedicine Pipeline to be Showcased at the ADA 85th Scientific Sessions
SAN FRANCISCO and SUZHOU, China, June 21, 2025 /PRNewswire/ -- Innovent Biologics, Inc. ('Innovent') (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures, and commercializes high-quality medicines for the treatment of oncology, autoimmune, cardiovascular and metabolic, ophthalmology and other major disease areas, announced that multiple exploratory mechanism-of-action (MoA) analyses of mazdutide (investigator-initiated trials) as well as a preclinical study of IBI3030 (PCSK9-GGG antibody-peptide-conjugate) will be showcased at the American Diabetes Association's (ADA) 85th Scientific Sessions. Details are listed below： Title: A novel antibody-peptide conjugate targeting PCSK9, GLP-1R, GCGR, GIPR improves cardiovascular risk markers in preclinical study Abstract Number：1886-LB Presentation Form: Poster Presentation Time: Sunday, June 22, 2025. 12:30 P.M. - 1:30 P.M. CDT Location: Poster Hall (Hall F1) Author: Dr. Decheng Ren, Innovent Biologics IBI3030 is a novel anti-PCSK9 antibody conjugated with peptides targeting GLP-1R, GCGR, and GIPR. Through multi-target synergistic effects, it significantly improves cardiovascular metabolic risk indicators. Mechanistically, the anti-PCSK9 antibody component inhibits LDL receptor degradation, thereby lowering reduce plasma LDL-c levels. Simultaneously, the triple-target agonist peptide activates GLP-1R/GCGR/GIPR receptors, enhancing hepatic fatty acid oxidation capacity, with demonstrates superior efficacy compared to the control. Preclinical studies demonstrate that in multiple models (mice, rats, and non-human primates), IBI3030 significantly reduces LDL-c (p<0.01 vs. baseline) and Lp(a), improves oral glucose tolerance (OGTT) (effective even in GLP-1R knockout mice), reduces body weight, and preserves insulin sensitivity. Additionally, it exhibits excellent safety in non-human primates, with a maximum tolerated dose reaching 50 mg/kg. Furthermore, mazdutide, the fastest-developing dual glucagon (GCG)/glucagon-like peptide-1 (GLP-1) receptor agonist globally, has ignited significant research interest in the scientific community due to its comprehensive metabolic benefits. This year's ADA Annual Meeting featured multiple MoA studies on mazdutide's effects in reducing liver fat, improving fibrosis, and lowering serum uric acid. The following are investigator-initiated studies: Topic: The Dual Glucagon and Glucagon-Like Peptide 1 Receptor Agonist Mazdutide Outbalanced Glucagon-Like Peptide 1 Receptor Agonist Semaglutide Monotherapy in Improving Mice Liver Fat Accumulation Abstract Number: 777-P Presentation Form: Poster Presentation Time: Sunday, June 22, 2025. 12:30 P.M. - 1:30 P.M. CDT Location: Poster Hall (Hall F1) Author: Tianpei Hong, Peking University Third Hospital Liver RNA-sequencing and KEGG enrichment analysis showed that compared with Semaglutide treatment, Mazdutide treatment predominantly activated oxidative phosphorylation and fatty acid degradation pathways. Meanwhile, lipid metabolism-related genes were upregulated in Mazdutide group compared to Semaglutide group. We further screened differentially expressed transcription factors (TF) through the TRRUST database and found that activating transcription factor 3 (Atf3) upregulated in the Mazdutide treatment group might be the functional TF regulating lipid degradation in the liver. The dual GCGR/GLP-1R agonist mazdutide exhibited a better efficacy in weight loss and liver fat accumulation alleviation compared with the GLP-1R agonist semaglutide monotherapy potentially due to its promotion of fatty acid oxidation via transcription factor ATF3. Topic: Mazdutide，a GCG/GLP-1R dual-agonist, alleviates MASH and hepatic fibrosis Abstract Number: 1616-P Presentation Form：Poster Presentation Time: Sunday, June 22, 2025. 12:30 P.M. - 1:30 P.M. CDT Location: Poster Hall (Hall F1) Author: Ling Li, Zhongda Hospital, School of Medicine, Southeast University, With the mice presented NASH and fibrosis phenotypes, Mazdutide decreased body weight, liver weight and hepatic triglyceride levels. Notably, Mazdutide also mitigated hepatic fat accumulation, inflammation, and hepatic fibrosis, compared with a single GLP1R or GCGR agonist. Therefore, Mazdutide alleviates hepatic fibrosis in MASH mice and regulates lipid metabolism as well as the gut microbiota, which may contribute to providing a novel therapeutic method and therapeutic target for MASH Topic: Mazdutide, a Dual GLP-1R/GCGR Agonist, Alleviates Hyperuricemia by Modulating Hepatic Energy and Lipid Metabolism and Inhibiting Purine Pathways Abstract Number: 775-P Presentation Form: Poster Presentation Time: Sunday, June 22, 2025. 12:30 P.M.- 1:30 P.M. CDT Location: Poster Hall (Hall F1) Author: Hongwei Jiang, The First Affiliated Hospital, and College of Clinical Medicine of Henan University of Science and Technology Mazdutide significantly lowers serum uric acid levels in hyperuricemic rats, primarily by enhancing fatty acid oxidation and regulating cellular energy metabolism within hepatocytes. This process suppresses the expression of genes associated with glucose and purine metabolism in the liver, leading to a reduction in the generation and utilization of purine precursors. SnRNA-Seq analysis indicates that mazdutide increases the expression of GCGR in hepatocytes, whereas semaglutide slightly inhibits it. In hyperuricemic rats, the expression of key genes involved in fatty acid oxidation, such as Cpt1a, Fabp1, Apoa1, Acox1, and Acaa1a is significantly reduced. However following Mazdutide treatment, the expression of these genes markedly increases, promoting fatty acid oxidation and improving overall energy metabolism. In contrast, genes associated with fatty acid synthesis, such as Acaca and Fasn, show a significant reduction in expression. Furthermore, after Mazdutide intervention, the expression of genes related to glucose metabolism and purine metabolism, including Pklr, G6pc1, Glul, Gckr, Gk, Nt5e, and Ppat, also experience significant decreases. This shift may reflect a change in cellular metabolism towards more efficient fatty acid oxidation, resulting in reduced the generation and utilization of purine precursors. Compared to Semaglutide, Mazdutide offers more substantial benefits in lowering uric acid levels. Dr. Lei Qian from Innovent Biologics, stated, 'We are delighted to see mazdutide's mechanism exploration studies featured extensively at the ADA conference. The growing body of scientific evidence will further validate mazdutide's differentiated profile as a next-generation GCG/GLP-1 dual receptor agonist, particularly in liver fat and serum urine reduction. Moreover, in the field of cardiovascular and metabolic diseases, Innovent is dedicated to developing next-generation innovative therapies. This includes IBI3030 (PCSK9-GGG), a novel modality with a unique MoA that embodies an innovative 'one-drug, multiple-effects' therapeutic strategy. IBI3030 has the potential to deliver comprehensive therapeutic benefits and meaningfully improve outcomes for more patients worldwide.' *Poster 2-4 are results from investigator-initiated trials (IITs) About Mazdutide (IBI362) Innovent entered into an exclusive license agreement with Eli Lilly and Company (Lilly) for the development and potential commercialization of mazdutide, a GLP-1R and GCGR dual agonist, in China. As a mammalian oxyntomodulin (OXM) analogue, mazdutide may offer additional benefits beyond those of GLP-1 receptor agonists—such as promoting insulin secretion, lowering blood glucose and reducing body weight—by also activating the glucagon receptor to increase energy expenditure and improve hepatic fat metabolism. Mazdutide has demonstrated excellent weight loss and glucose-lowering effects in clinical studies. It has also shown benefits in reducing waist circumference, blood lipids, blood pressure, blood uric acid, liver enzymes, and liver fat content, as well as improving insulin sensitivity. Currently, Mazdutide has two NDAs accepted for review by NMPA, including for: Mazdutide is currently being evaluated in seven Phase 3 clinical studies, including: Among these, GLORY-1, DREAMS-1, and DREAMS-2 have already met their primary endpoints and the other four studies are currently ongoing. In addition, several new clinical studies of mazdutide are initiated or planned, including: About Innovent Innovent is a leading biopharmaceutical company founded in 2011 with the mission to empower patients worldwide with affordable, high-quality biopharmaceuticals. The company discovers, develops, manufactures and commercializes innovative medicines that target some of the most intractable diseases. Its pioneering therapies treat cancer, cardiovascular and metabolic, autoimmune and eye diseases. Innovent has launched [15/16] products in the market. It has [3/2] new drug applications under regulatory review, 4 assets in Phase 3 or pivotal clinical trials and 15 more molecules in early clinical stage. Innovent partners with over 30 global healthcare companies, including Eli Lilly, Sanofi, Incyte, LG Chem and MD Anderson Cancer Center. Guided by the motto, 'Start with Integrity, Succeed through Action,' Innovent maintains the highest standard of industry practices and works collaboratively to advance the biopharmaceutical industry so that first-rate pharmaceutical drugs can become widely accessible. For more information, visit or follow Innovent on Facebook and LinkedIn. Statement: Innovent does not recommend the use of any unapproved drug (s)/indication (s). Forward-looking statement This news release may contain certain forward-looking statements that are, by their nature, subject to significant risks and uncertainties. The words 'anticipate', 'believe', 'estimate', 'expect', 'intend' and similar expressions, as they relate to Innovent Biologics ('Innovent'), are intended to identify certain of such forward-looking statements. The Company does not intend to update these forward-looking statements regularly. These forward-looking statements are based on the existing beliefs, assumptions, expectations, estimates, projections and understandings of the management of the Company with respect to future events at the time these statements are made. These statements are not a guarantee of future developments and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control and are difficult to predict. Consequently, actual results may differ materially from information contained in the forward-looking statements as a result of future changes or developments in our business, the Company's competitive environment and political, economic, legal and social conditions. The Company, the Directors and the employees of the Company assume (a) no obligation to correct or update the forward-looking statements contained in this site; and (b) no liability in the event that any of the forward-looking statements does not materialise or turn out to be incorrect. View original content: SOURCE Innovent Biologics
Yahoo
an hour ago
- Yahoo
Fed governor breaks ranks and says rate cuts could resume next month to prevent further cracks in the job market
Christopher Waller, a potential Fed chair successor to Jerome Powell, said rates could come down as soon as July. The Fed voted unanimously on Wednesday to continue its wait-and-see strategy ahead of expected tariff-fueled inflation this summer. Initial jobless claims data reflects a weaker labor market, but not one that should warrant an immediate rate reduction, economists say. Federal Reserve Governor Christopher Waller said Friday that economic data could justify lower interest rates as early as next month, waiving off concerns of tariff-fueled price spikes and pointing to concerns about recent labor market data. In a CNBC TV interview on Friday, he said policymakers should look past short-term tariff effects on inflation and focus on the underlying trend, which he said has been favorable in recent months. 'I label these 'good news' rate cuts when inflation comes down to target. We can actually bring rates down. I've been saying this since about November of '23,' Waller explained. 'So I think we're in that position. We could do this and as early as July.' In fact, inflation, the unemployment rate, and GDP growth are running at or near the Fed's long-run targets, but rates are 1.25-1.50 percentage points above the so-called neutral rate, he pointed out, adding that cuts could come gradually with flexibility to pause if necessary. Still, he warned that the labor market is OK but isn't as strong as it was in 2022, noting a 25-year high in the unemployment rate for college graduate and slower job creation. 'If you're starting to worry about the downside risk to the labor market, move now, don't wait,' Waller, a possible contender to replace Fed Chair Jerome Powell when his term ends in May 2026, said in the CNBC interview. The comments come two days after the Federal Open Market Committee (FOMC) unanimously voted to keep its key borrowing rate targeted in a range between 4.25%-4.5%, which has been held since December. The committee reported 'somewhat elevated' inflation and a 'solid' labor market in a June 18 press release. That drew the ire of President Donald Trump, who called Powell a 'Total and Complete Moron' on Truth Social for holding interest rates steady and thinks the benchmark rate should be 2.5 percentage points below the current level. While the Fed remains upbeat about the job market, other indicators point to weakness. The four-week moving average of initial jobless claims is the highest it's been since August 2023, per this week's Department of Labor report. Challenger's May job-cut report recorded a 47% year-over-year increase in layoff intentions, the largest plans coming from the service, retail and tech industries. A monthly survey by the Federal Reserve Bank of Philadelphia that tracks manufacturing business activity in the mid-Atlantic region recorded overall decreases in employment in June, with its employment index falling to its lowest reading since May 2020. The index held its May value, missing economists' expectations of a slight increase in business activity. The National Federation of Independent Business' May jobs report found that 34% of small business owners reported job openings they could not fill in May, unchanged from April, and the lowest since January 2021. As the Fed maintains a wait-and-see strategy in anticipation of tariff-fueled inflation, economists are split on how the Fed might navigate the country's economic uncertainty—and how to interpret recent data suggesting a weakening job market. None of the economists contacted by Fortune see a rate cut in July. 'The FOMC's forecast of continued low unemployment is wishful thinking,' Pantheon Macroeconomics Chief U.S. Economist Samuel Tombs and Senior U.S. Economist Oliver Allen wrote in a June 20 report. 'We think the Committee again is unduly sanguine about the outlook for the unemployment rate.' Tombs and Allen of Pantheon Macroeconomics expect the unemployment rate to rise from 4.2% to 4.6% in the third quarter, and to 4.8% in the fourth, which exceeds the 4.5% median FOMC forecast. 'Pressure on the labor market will grow as the tariff shock works its way through the economy,' Allen said in a data note. Consumers haven't yet experienced the full effects of price increases due to tariffs, and economists say this will happen in the summer. '[Economic activity] was artificially boosted early in 2025 as businesses and consumers rushed to front-load purchases ahead of anticipated trade restrictions,' EY-Parthenon Chief Economist Gregory Daco told Fortune in an email. Daco expects the ripple effects of higher tariffs will be seen in the months to come, 'stoking inflationary pressures, weakening labor market conditions, compressing profit margins, restraining capital expenditures, and curbing household demand.' He expects consumer spending and business investment to decelerate significantly, and for the culmination of tariff effects on the economy to slow GDP growth to a near-stall speed, with output rising 0.8% year-over-year by the fourth quarter. The anticipation of summer inflation pressures has economists weighing when the Fed will cut rates, especially if job market data continues to concern them. Deputy Chief Economist at Oxford Economics Michael Pearce believes the recent initial jobless claims numbers show a gradual softening in the labor market, he told Fortune in an email. 'Even so, with inflation risks looming, we do not think the economy is weakening by enough to force the Federal Reserve into rate cuts in the coming months,' Pearce wrote. Jobless claims for federal workers remain low to February levels, Pearce added. Recent court rulings have the economist forecasting the timing of federal worker layoffs into later this year. But, not everyone sees the recent initial claims data as a bellwether for a job market slowdown. 'What I see is a labor market that has held up in the face of exceptional policy uncertainty and economic uncertainty,' Morning Consult Chief Economist John Leer told Fortune. The data collection and analytics company surveys 10,000 people every week to determine if they lost pay or income and collects data from a 'standardized version of the household survey' used to calculate the unemployment rate. From their numbers, Leer said he doesn't see evidence of significant weakening in the job market. 'Businesses are very hesitant to prematurely fire or lay off workers when potentially there's money to be made from keeping workers on payroll and selling more and having higher revenue as a result,' Leer said. As for potential tariff effects on the labor market, Leer said it can take up to two years for small businesses his company works with to feel any elevated input costs that come with the import taxes. 'You will see a continual sort of trickling in of higher prices over time, as companies wind down all of their excess inventories and have to rely on imports to a greater extent,' he said. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Why Shares in Rare Earth Company MP Materials Surged Again This Week
Despite near-term challenges, the market is feeling optimistic about MP Materials' long-term growth prospects. It's a speculative stock, as a relatively small number of people will make the key decisions guiding its future. 10 stocks we like better than MP Materials › Very few companies demonstrate the complexity of the current trade conflict and the strategic necessity of securing rare earth materials for the U.S. more effectively than MP Materials (NYSE: MP), and its share price action this week, up 21.8% at the time of writing, underscores this point. Management describes the company as being "America's rare earth magnetics champion," as it is "America's only fully integrated rare earth producer." However, as fellow writer Rich Smith notes, Shenghe Resources (a majority-owned subsidiary of China's Shenghe Resources Holding Company) was a major customer of MP Materials, and the company that MP Materials "sells the vast majority of its rare earth concentrate" to, according to its SEC filings. Moreover, in mid-April, MP Materials said it had "ceased shipments of rare earth concentrate to China" due to China's tariffs and the issue of selling critical materials not being "aligned with America's national interest." As such, the trade conflict is a near-term negative for MP Materials. That said, and as management consistently argues, the company's real growth opportunity lies in being part of the U.S. developing its own rare earth supply chain. It's a point reiterated by CEO James Litinsky on a recent earnings call: "What is now abundantly clear is that the United States must urgently accelerate its full-scale domestic rare earth magnetic supply chain." As such, when speculation rises that the administration is working to secure funding for the company, the stock is likely to perform well, as it did this week. It's an interesting situation, but with so much uncertainty surrounding the company's direction, it's challenging to argue that retail investors have any kind of advantage in investing in the stock. Before you buy stock in MP Materials, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and MP Materials wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $659,171!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $891,722!* Now, it's worth noting Stock Advisor's total average return is 995% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Lee Samaha has no position in any of the stocks mentioned. The Motley Fool recommends MP Materials. The Motley Fool has a disclosure policy. Why Shares in Rare Earth Company MP Materials Surged Again This Week was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
