Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more
Gold recorded its worst weekly slump this year in the week ending May 24 on hawkish FOMC minutes and robust US PMIs. Now, markets largely look for just one rate cut this year as traders readjust their rate expectations in the wake of the US data and the Fed’s stance. Spot gold closed with a … Read more
Spot gold rallied sharply on Friday as traders looked past hotter than expected US inflation data to focus on possible rate cuts as the US economy, going by recent key macroeconomic data, is weakening. Spot gold closed with a gain of 1.55% at $2414 Friday. The yellow metal was up around 2.30% on the week. … Read more
US manufacturing activity expanded at the fastest pace since September 2022, powered by stronger orders growth and suggesting producers are breaking out of an extended slump. The S&P Global flash February purchasing managers index advanced to 51.5 from 50.7. Readings greater than 50 indicate expansion and, while only modest, the gauge has shown growth in … Read more
Great news for the Indian economy! According to S&P Global Ratings, India is projected to become the world’s third largest economy by 2030. The rating agency predicts that India’s GDP growth will reach 7% in the fiscal year 2026-27. In its Global Credit Outlook 2024, S&P forecasts a GDP growth of 6.4% in the fiscal … Read more