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The Hindu
11 hours ago
- Business
- The Hindu
Rupee rises 14 paise to close at 86.59 against U.S. dollar
The Rupee appreciated by 14 paise to close at 86.59 (provisional) against the U.S. dollar on Friday (June 20, 2025) aided by a fall in global crude oil prices and a weakening greenback. A strong show in the domestic equity markets and FII inflows further supported the local unit, according to forex traders. At the interbank foreign exchange, the Rupee opened at 86.65 against the U.S. dollar and traded in a narrow range of 86.55-86.67 before settling at 86.59 (provisional), up 14 paise. The Rupee had lost 30 paise to close at an over two-month low of 86.73 against the dollar on Thursday (June 19, 2025), logging a combined loss of 69 paise during the past three sessions. "The Rupee eased today (June 20, 2025) but declined a little more than 1% this month so far, with a large portion of its decline occurring after Israel attacked targets in Iran last Friday(June 13, 2025). The attacks also raised concerns about disruption of global oil prices, sending Brent crude oil futures to a five-month peak around $79 per barrel," Maneesh Sharma, AVP-Commodities & Currencies, Anand Rathi Shares and Stock Brokers, said. "The local currency ... was comforted by a dip in oil prices after the White House said President Donald Trump will decide in the next two weeks whether the U.S. will get involved in the Israel-Iran war," Mr. Sharma said. Meanwhile, expectation that HDB Financial IPO is likely to witness significant inflows is seen as positive for the Rupee as broad range of 86.20-86.70 may persist during start of the next week, he added. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.30% lower at 98.60. In the domestic equity market, the 30-share BSE Sensex jumped 1,046.30 points to settle at 82,408.17, while Nifty surged 319.15 points to 25,112.40. Brent crude, the global oil benchmark, declined 2.36% to $76.99 per barrel in futures trade. Foreign institutional investors (FIIs) purchased equities worth ₹934.62 crore on a net basis on Thursday (June 20, 2025), according to exchange data.
Time of India
3 days ago
- Business
- Time of India
Gold price prediction today 24 karat India: Where is gold rate headed amidst Iran-Israel tensions? Here's the outlook
24 Karat gold price could remain subdued in the near term amid lack of fresh demand cues in global markets. (AI image) Gold price prediction today: Gold rates have been in focus for the last few days due to increased safe haven demand amidst the escalating Iran-Israel conflict. All eyes this week will be on the US Federal Reserve's commentary on rate cut possibility. Gold prices are expected to remain volatile in the near future. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold prices ended the last week with gains amid escalating Middle-East tensions & rising bets of a Federal Reserve (Fed) rate cut. Investors ignored the upbeat US economic data released last week as geopolitical tensions remained the major focus of the current week. In other news, due to a combination of central bank gold buying & surging price of gold, the yellow metal overtook the euro as the world's number two reserve asset as gold made up 19.6 percent of global reserves, with the Euro accounting for 15.9 percent. The survey carried out by World Gold Council expected 95% of respondents believing that global central bank gold reserves to increase over the next 12 months as a record 43% of respondents also believe that their own gold reserves will also increase over the same period and none anticipate a decline in gold holdings. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Godrej Majesty | Luxurious 3 & 4 BHK Homes at ₹2.39 Cr* Godrej Majesty Learn More Undo In China, the recent US-China trade truce still faced challenges as military-use rare earth exports were unresolved. This remained after China refused to approve exports of specific rare earth metals used in US weapon systems, maintaining a chokepoint in the global supply chain. Focus this week to remain on any escalation in the middle east crisis, along with global central banks including US monetary policy meetings. The Bank of Japan had foregone another interest rate hike this year due to uncertainty over US tariff policy. However, all eyes remain on the June 18 Fed meeting, where the dot plot and Powell's tone may define gold's path for the rest of 2025. US Policymakers are expected to monitor inflation through the coming months till September before considering any moves. Overall Markets continue to price in two rate cuts later this year, likely in the second half. On the other hand, traders may also closely monitor further rise in Oil prices which may keep Indian rupee under pressure keeping domestic prices elevated in near sessions. For Gold, a breach of all time high levels in spot markets cannot be completely ruled out in the coming week while volatility & profit booking moves could also persist at higher levels. On the lower side a resistance turned support around $ 3360 per oz remains critical on a weekly basis, a sustainable breach below which only prices could drift lower towards $ 3280-3250 levels in Spot. Gold Price Weekly View: Volatile (1 – 2 Weeks) Broad trading range on MCX futures (Aug CMP Rs 99,385) remains around Rs 97,200 - 1,02,500 per 10 gm Meanwhile Silver is expected to trade with a positive bias as it may test Rs 1,10,000 - 1,13,000 per Kg on MCX (Aug) futures contract on the higher side in 1 - 2 weeks perspective. Gold rate in India has seen a notable decrease across all purities and quantities in the last few days as higher prices have continued to dampen physical demand in India especially for jewellery. 24 Karat gold price could remain subdued in the near term amid lack of fresh demand cues in global markets. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
11-06-2025
- Business
- Time of India
Gold price prediction today: Gold rate may see limited upside; time to buy silver? Here's the outlook
Gold price prediction: Silver looks set to outperform gold in the current year. (AI image) Gold price prediction today: Gold rate is expected to see a limited upside in the short-term, feel analysts. As global trade tensions show signs of easing with progress on US-China trade deal talks, the safe haven appeal of gold is not as strong right now. What should investors do? What is the gold price outlook for the coming days and should investors shift focus on silver? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold prices ended last week with marginal gains (weekly close $ 3310) despite prices soaring to above $ 3400 per oz earlier in last week in Spot as steady macro cues from US along with ease in trade tensions between US & China weighed on sentiments and limited its upside trajectory. US President Donald Trump announced that Chinese President Xi Jinping has agreed to resume the export of rare earth minerals and magnets to the United States. The statement was made aboard Air Force One, as reported by Reuters, highlighting a potential easing of trade tensions between the two economic giants. The US had also indicated it may soften certain restrictions on technology exports in exchange for the same. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Tìm hiểu thêm Undo Modest US jobs growth in May lifted the dollar marginally last week. Nonfarm Payrolls (NFP) in the United States (US) climbed as came in stronger than the market expectation as Federal Fund Futures pointed to a larger chance that the US Federal Reserve (Fed) may keep its benchmark interest rate steady at its next two monetary policy meetings. In other news, China's central bank expanded its gold reserves for a seventh straight month in May, furthering its bid to diversify holdings despite ongoing price fluctuations. The People's Bank of China added 60,000 troy ounces of the metal to its reserves last month, taking the total to 73.83 million fine troy ounces, according to data released Saturday. However the same indicated a slowdown in pace of accumulation by the central bank which did not bring in any substantial hike in prices during the start of the current week. Gold Price Outlook Traders to closely monitor US CPI (May) and PPI (May) data as any unexpected surprise in readings could lead to indications of delayed rate hike keeping sentiments muted. Market attention also remains fixed on the London discussions, where US and Chinese officials have indicated progress in trade deal. Meanwhile Silver, witnessing a breakout to 13 year highs last week had finally started to join the rally that gold started months ago. More than 8% move seen in silver prices since last week were on account of safe haven demand, due to escalating geopolitics on the Russia-Ukraine front combined with trade uncertainties and also driven by Industrial demand. Gold Price Weekly View: Cautious Upside (1 – 2 Weeks) We continue to expect limited upside in Gold for a short term perspective as any spike towards $3360 - 3390 per oz in Spot (CMP $3330 per oz) still remains a selling opportunity for the yellow metal. On MCX Aug futures (CMP Rs. 97,075/10 gm) prices could trade in a broad range of Rs 98,500 – 95,000 per 10 gm for the coming week. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs 1,04,500 – 1,09,000 per kg. in July futures contract as a combined Sell gold/Buy silver strategy could remain favourable on short to medium term perspective. Also silver looks set to outperform gold in the current year as we expect silver to continue to rise in the range of $ 38.70 - 41.50 per oz in International spot markets (CMP $ 36.65 per oz) in the current year. This translates to a level of Rs 1,15,000 – 1,23,000 per kg. in the MCX futures market in 2025 providing further returns of almost 15 – 20% from current levels. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
04-06-2025
- Business
- Time of India
Gold price prediction today: Why gold rate may remain volatile this week & should you sell or buy?
Gold price prediction: This week will remain volatile and set tone in terms of new direction in prices. (AI image) Gold price prediction today: Gold prices ended the last week down and also continued to consolidate during the entire May month below record highs touched in April. Meanwhile, spikes seen in prices in recent sessions were only on account of geopolitical developments involving Russia & Ukraine as Ukraine carried out its biggest strike on record hitting almost $7bn worth of Russian military planes. Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: The yellow metal jumped almost 2% yesterday while Silver prices were boosted by 5 % due to augmented safe haven flows. On the global trade front, US President Donald Trump lashed out at China over the weekend and accused the latter of violating a preliminary tariff agreement, reviving fears of a trade war between the world's two largest economies. Trump also announced to double tariffs on steel imports from 25 % to 50 % while reportedly urging countries to present the most favourable trade by Wednesday in an effort to speed up discussions before reciprocal tariffs come into effect on July 8. This also kept the dollar upside limited, keeping it below 100 since last week. Bullion prices remained also up following Federal Reserve (Fed) Governor Christopher Waller's slightly dovish approach, saying that rate cuts remain possible later this year. However, he warned that policymakers are mainly focused on controlling inflation. Gold Price Outlook This week to remain volatile and set tone in terms of new direction in prices Overall bias for bullion still suggests limited upside for the current week as June tends to be the weakest season of the year for Gold Miners & stocks in terms of seasonal approach, leaving waning interest in markets. Meanwhile volatility could also remain high as US Fed members continue to stick to easing bias but rate cut probabilities stay delayed only after September month. Adding to these concerns, any further escalation in Russia Ukraine conflict, with any retaliatory response from Russia warrants caution for the USD bulls and may lead to volatility in bullion prices. Traders also look forward to the release of several macro cues including US JOLTS Job Openings along with speeches by influential FOMC members. The major focus, however, will remain on the US monthly employment details, or the Nonfarm Payrolls (NFP) report due on Friday amid steady payrolls may confirm delayed rate cut for the year. Gold Price Weekly View: Highly Volatile (Duration 1 – 2 weeks) Strategy: We expect limited upside in Gold for the coming week as any volatile spike towards $3420 - 3450 per oz in Spot (CMP $3358 per oz) remains a selling opportunity on a weekly basis. On MCX Aug futures (CMP Rs. 97,785 per 10 gm) prices could trade in a broad range of Rs. 99,850 – 93,980 per 10 gm for a duration of 10 – 15 trading days. MCX Silver is expected to remain steady as compared to Gold while may trade in a broad range of Rs, 98,700 – 1,03,500 per Kg. (CMP Rs. 1,00,630 per Kg.) in July futures contract. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
21-05-2025
- Business
- Time of India
Gold price prediction today: Will gold rate go below Rs 90,000 & should you buy or sell?
Gold turned volatile last week as it plunged by almost 3% to a low of $ 3120 per Oz in spot before recovering. (AI image) Gold price prediction today: Gold rate has been fluctuating amidst global turmoil and uncertainty regarding Donald Trump's trade policies, the recent US credit rating downgrade . Till a few weeks ago gold prices were touching lifetime highs, but have since then retreated. So what's the gold price outlook for this week, and what should investors do if gold prices drop further? Maneesh Sharma, AVP - Commodities & Currencies, Anand Rathi Shares and Stock Brokers shares his views and recommendations: Gold Price Trends Gold turned volatile last week as it plunged by almost 3% to a low of $ 3120 per Oz in spot before recovering and closing above $ 3200 per oz on a weekly basis. A preliminary US-China trade agreement included tariff reductions as Washington lowered duties on Chinese goods from 145% to 30%, while Beijing planned to cut tariffs on US imports from 125% to 10% that weighed on sentiments. On the other softer macro cues continued to paint a mixed picture with US consumer sentiments showing second lowest reading on record lifting the sentiments towards the end of the week. Meanwhile Moody's recently downgraded the US credit rating by one notch from Aaa to Aa1, citing escalating debt levels and a growing burden from interest payments. This move followed previous downgrades by Fitch Ratings in 2023 and Standard & Poor's in 2011. Moody's now forecasts US federal debt to soaring to approximately 134% of GDP by 2035, up from 98% in 2023, with the federal deficit expected to widen to nearly 9% of GDP. This is attributed to higher debt servicing costs, increased entitlement spending, and falling tax revenues. Geopolitical tensions showed no signs of abatement as Trump declared on social media for Ukraine & Russia to immediately start negotiations toward a ceasefire but without the US. Sanctions threat, no demand for a time-line, and no pressure on the Russian leader indicated the ceasefire talks may not see a solution anytime soon. Gold Price Prediction & Outlook Rising concerns over the US economic outlook & fiscal health have aided sentiments so far during the current week. Meanwhile disappointing US economic indicators had also reinforced expectations of further rate cuts by the Federal Reserve later this year. However, focus for the current week remains on a slew of Fed speakers which could throw fresh direction on the trajectory of rate cuts during the year as CME tool still shows only 55 bp easing towards year end. Two Federal Reserve officials, including New York Fed chief John Williams, had suggested policymakers may not be ready to lower interest rates before September as they confront a murky economic outlook. Overall $ 3,150-3,080 support zone in spot remains crucial in coming days while technical trend remains sideways to slight upside for the current week with profit booking moves may continue at higher levels while buying interest to also persist around the support zone. Gold Weekly View: Sideways On MCX June futures Gold (CMP Rs. 93,530 per 10 gm) is expected to trade in a broad range of Rs 89,500 – 95,800 on weekly basis. One may initiate a sell strategy only below a close below Rs 92,300 with downside seen up to Rs 91,000 - 89,500. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
