Singapore: Gold fell for an eighth straight session on Monday to its weakest level in over a month, as fears that the US Federal Reserve may wind back its economic stimulus programme hurt the metal's appeal as a hedge against inflation.
Investors have been dumping gold, which is down 20 per cent so far this year, as stocks and the dollar continue to outperform. If gold closes in the red on Monday, it would match the metal's longest losing streak since March 2009.
"Investors are very bearish at the moment," said Yuichi Ikemizu, branch manager for Standard Bank in Tokyo. "The stock market and the dollar are quite strong. It's a natural move for investors to switch their money from commodities to equities."
Data showed Americans felt better about their economic and financial prospects in early May, with consumer sentiment at its highest in nearly six years, while a gauge of future economic activity rose in April to a near five-year high....
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11:30 AM, May 20, 2013
From July, more than 300 essential medicines will cost 20 to 25 per cent less, as the new national pricing policy comes into effect. How will this affect us and why are some calling it an eyewash? ...
08:46 PM, May 17, 2013
Beijing: Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices. A consensus had been reached among top leaders that reforms would be the only way to put the world's second-largest economy on a more sustainable footing, said the sources, who are...
06:30 AM, May 17, 2013
New Delhi: Rolling down gold prices dropped to one-month low by losing Rs 500 to Rs 26,800 per 10 grams in the national capital today on heavy selling by stockists driven by weak global trend. This fall was in continuation to a steep fall of Rs 600 on Thursday to hit a level last seen on April 17, after the metal tumbled in overseas markets driven by reports investors cutting...
04:59 PM, May 16, 2013
London: Gold fell for the fifth straight session on Wednesday, hitting a three-week low as the dollar strengthened to a six-week high versus the euro after weak euro zone data. While gold has recovered around 7 per cent from a two-year trough of $1.321.35 an ounce hit in mid-April, its safe-haven appeal has been battered by record-high US equities and signs of an improving US economy. Spot gold fell 0.8...
05:10 PM, May 15, 2013
New Delhi: Oil Ministry's proposal for an across-the-board near doubling of natural gas prices has been rejected by the Cabinet Secretariat saying a ministerial panel headed by Defence Minister AK Antony did not have powers to do so. The Ministry had sent a draft proposal for the consideration of the Empowered Group of Ministers (EGoM) to price all domestically produced natural gas - be of state-run ONGC or private sector...
04:18 PM, May 15, 2013
Jaipur: Soaring petrol prices have forced the Army to look for other options in the SUV variant and it started summer trials of Mahindra Scorpio and Tata Safari in Thar desert in Rajasthan on Monday. The vehicles are being driven by Army drivers to test their endurance, fuel consumption, temperature, cross country drive performance with and without load, power-to-wheel ratio among other factors, Army sources said. Two variants of Mahindra...
10:50 PM, May 13, 2013
New Delhi: Housing prices have increased by an average 66 per cent in Mumbai over the last four years on account of steady demand and rising input cost, according to property consultant Jones Lang LaSalle (JLL). The increase has been even higher at 70 per cent in Thane and 74 per cent in Navi Mumbai. "The cumulative price escalation figures for Mumbai, Thane and Navi Mumbai represent the highest among...
05:05 PM, May 13, 2013
New Delhi: After better than expected industrial production numbers, which came at 2.5 per cent for the month of March, inflation has also hit a 13-month low. Consumer Price Index for the month of April is at 9.39 per cent against 10.39 per cent in March. Rural inflation was also seen going down at 9.16 per cent as compared to 10.41 per cent in March. Food prices for consumers rose...
12:40 PM, May 13, 2013
The diesel price was hiked by 90 paise on Friday. ...
09:22 PM, May 11, 2013
Mumbai: The ruling Democratic Front constituent Nationalist Congress Party on Thursday attacked the senior alliance partner Congress over the high prices of flats to be allotted by the government . In a statement, NCP spokesperson Nawab Malik said that the Maharashtra Housing and Area Development Authority (MHADA) appeared to be in a race with private builders by charging exorbitant prices for its tenements, forgetting its primary objective of providing affordable...
04:39 AM, May 03, 2013
New Delhi: Jet fuel prices were on Wednesday cut by 5.3 per cent, the second steep reduction in rates in one month. Aviation Turbine Fuel, or ATF, price at Delhi was cut by Rs 3,545.94 per kilolitre (kl), or 5.35 per cent, to Rs 62,649.95 per kl, according to Indian Oil Corp, the nation's largest fuel retailer. The reduction in rate, made possible due to declining international oil prices, came...
09:17 PM, May 01, 2013
New Delhi: The price of non-subsidised LPG cylinders was cut by Rs 54 per bottle on Tuesday. The move came just hours after petrol price was slashed by Rs 3 per litre, effective from midnight. On April 1, the price of non-subsidised cooking gas was reduced by Rs 3 per cylinder in line with fall in international rates. The government had in September 2012 fixed a quota of six subsidised...
11:35 PM, Apr 30, 2013
Catch the day's top stories with Rajdeep Sardesai on India @ 9. ...
10:54 PM, Apr 30, 2013
New Delhi: In a welcome relief, the petrol price was slashed by Rs 3 on Tuesday evening, effective from midnight. The petrol price was slashed as crude oil became cheaper in international market. Earlier reports had suggested that the petrol prices may be slashed by up to Rs 2 effective from May 1. Following are the revised prices of petrol in four metros, effective from midnight. Delhi Rs 63.09, Kolkata...
07:49 PM, Apr 30, 2013
New Delhi: Oil companies may slash petrol prices by up to Rs 2 per litre from May 1, sources said on Monday. The sources said that the clarity on the monthly revision of petrol prices was expected on Tuesday. Petrol price were last cut by Rs 1 per litre on April 15, the third reduction in a month. Earlier in April, the price was reduced by 85 paise per litre....
05:53 PM, Apr 29, 2013
New Delhi: Tracking a firming trend overseas as investors increased physical purchases, gold prices rose by 0.25 per cent to Rs 26,429 per 10 gram in futures trading on Tuesday. Besides covering-up of short positions by speculators fearing further rise, firm demand in the domestic spot markets also influenced gold prices. At the Multi Commodity Exchange, metal for delivery in June contracts gained Rs 63, or 0.25 per cent, to...
12:15 PM, Apr 23, 2013
New Delhi: Taking positive cues from the global market and rising physical demand in spot markets at prevailing levels, gold continued its recovery, rising by nearly one per cent to Rs 26,069 per 10 gm in futures trade on Saturday. Besides, covering-up by speculators who had created huge short positions, also helped gold to trade higher at futures trade. At the Multi Commodity Exchange, the most-active delivery in June contracts...
04:30 PM, Apr 20, 2013
Mumbai: Gold futures in India, which hit the lowest level in more than 18 months on Tuesday, may stage a recovery as key technical indicators point to the yellow metal entering oversold territory, according to analysts. Gold in India, the world's biggest buyer of the metal, has shed 21 per cent from the record high of Rs 32,464 for 10 grams struck in November, spreading panic among investors and importers....
03:10 PM, Apr 16, 2013
Singapore: Gold plunged to a more than two-year low on Tuesday, extending a brutal sell-off that is likely to persist amid fears over central bank sales and global growth, while investors frustrated by the metal's lacklustre performance dumped their holdings. Bullion posted its biggest ever daily drop in dollar terms in the previous session and is now down about 20 per cent so far this year, after stellar gains over...
09:00 AM, Apr 16, 2013
