Silver Steady Near Record High On Rate-Cut Bets And Tight Supply
Silver steadied near a record after rallying about 17% over the previous seven sessions as traders piled into bets for lower interest rates, while the market faced ongoing supply tightness. Gold was flat.
Investors are wagering that a new Federal Reserve chair and the release of delayed US economic data this month will support President Donald Trump’s calls for monetary easing. The recent gains in precious metals reflect the potential for cuts to gather pace after Jerome Powell’s term ends in May.
Read the full Bloomberg article here.
Stocks To Watch Today: IRFC, Motilal Oswal, HDFC Life Insurance, Vodafone Idea, Canara Bank
Indian Railway Finance Corp Ltd., Motilal Oswal Financial Services Ltd., HDFC Life Insurance Ltd., Canara Bank Ltd. and Vodafone Idea Ltd. are some of the stocks to watch on Tuesday.
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Stock Market LIVE: Gold Prices Steady, Spot Silver Holds Near Record High
VGold prices in India saw a minor decline to Rs 1,29,770 and silver was down at Rs 1,81,400 on Wednesday, according to the India Bullion Association as of 6:50 a.m. However, silver in the spot market rose near its record high as traders expect lower interest rates while market faced ongoing supply tightness.
Asia Markets LIVE: Japan's Nikkei 225 And South Korea' KOSPI Rise As Risk-On Sentiment Revives
Markets in Japan, South Korea, and Australia advanced on Wednesday morning tracking overnight modest gains on Wall Street. US stocks rose as risk-on sentiment revived after cryptocurrency recovered above $90,000 level.
The Nikkei 225 and KOSPI were trading 0.79% and 1.10% higher, respectively as of 6:53 a.m.
LIVE: GIFT Nifty Implies Slight Negative Open; Hind Copper, IRFC, Vodafone Idea Shares In Focus
The GIFT Nifty was trading 0.06% or 16.50 points lower at 26,190 as of 2:44 a.m., which implied a slight lower open for the NSE Nifty 50 index.
Traders will keep an eye on Hindustan Copper Ltd., Indian Railway Finance Corp Ltd., Vodafone Idea Ltd. and Chalet Hotels Ltd. share prices.
The benchmark indices fell for the third straight day on Tuesday. The Nifty closed 0.55% lower at 26,032.20, whereas the Sensex closed 0.59% lower at 85,138.27.
Profit-booking in private banks weighed on the indices, overshadowing Monday's record intraday highs.
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