New Delhi: Gold in the national capital on Thursday rallied by Rs 382 to Rs 46,992 per 10 gram amid a jump in international precious metal prices, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 46,610 per 10 gram. Likewise, silver also jumped Rs 1,280 to Rs 66,274
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The U.S. economy rose at a disappointing rate in the second quarter, the Commerce Department reported Thursday in a sign that the U.S. has escaped the shackles of the Covid-19 pandemic but still has more work to do. Gross domestic product, a measure of all goods and services produced during the April-to-June period, accelerated 6.5%
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Dollar’s decline continues and accelerates a little in early US session after weak economic data. Gold is also accelerating upwards, in tandem with the greenback’s movements. Yen is following as second worst for now, following recovery in European stocks and US futures. Commodity currencies and Sterling are currently the stronger ones for today. Technically, immediate
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Highlights of the first look at Q2 GDP Q1 was +6.4% annualized Personal consumption +11.8% GDP price index +5.7% vs +5.4% expected Core PCE +6.1% vs +5.9% expected 2020 GDP revised to -3.4% from -3.5% GDP final sales +7.7% Details: Inventories cut 1.13 pp from GDP vs -2.67 pp in Q1 Business investment +8.0% vs
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FX Strategists at UOB Group noted the upside momentum in EUR/USD is expected to meet solid resistance in the vicinity of 1.1900. Key Quotes 24-hour view: “We highlighted yesterday that ‘there is room for the advance in EUR to extend but it is unlikely to challenge the major resistance at 1.1860’. EUR subsequently dropped briefly
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Dollar drops broadly overnight and stays weak, even though Fed acknowledged that progress has already been made in the economy. Uncertainty in the risk markets is keeping Aussie soft too. But Canadian Dollar is apparently rebounding with resilience in oil prices. Sterling is also strong with Swiss Franc while Euro under performs them. Focus will
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