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Gold declines Rs 612 on strong dollar, weak global cues after US Fed rate cut

New Delhi, Sep 18 (PTI) Gold prices declined Rs 612 to Rs 1,09,210 per 10 grams in domestic futures trade on Thursday as speculators cut positions following a firm recovery in the dollar after the US Federal Reserve’s cautious policy stance dampened bullion’s rally. On the Multi Commodity Exchange (MCX), gold futures for October delivery depreciated Rs 612 or 0.56 per cent to Rs 1,09,210 per 10 grams. The December contract also diminished Rs 566 or 0.51 per cent to Rs 1,10,300 per 10 grams. Silver prices weakened too. The white metal futures for December delivery slipped Rs 604 or

US Fed’s rate cut by 25 basis points comes with caveats, leaving investors lukewarm

NEW YORK, Sept 18 (Reuters) – Investors look set to face a volatile few months ahead after the Federal Reserve resumed interest rate cuts and opened the door to further easing but tempered its message with warnings of sticky inflation, sowing doubt over the pace of future policy adjustments. Some investors are now less certain that a rapid shift to lower borrowing costs will materialize, potentially dampening optimism that stocks and bonds would get a strong lift from easier policy. Adding to the uncertainty was a wide variety of views within the Fed on the future path of rates. “We’ve

Rupee falls 16 paise to 88.01 against US dollar in early trade

Mumbai, Sep 18 (PTI) The rupee depreciated 16 paise to 88.01 against the US dollar in early trade on Thursday, as traders assessed the US FED outlook following a rate cut. The US FED reduced rates by a quarter point as expected and indicated that it will steadily lower borrowing costs for the rest of the year. At the interbank foreign exchange market, the rupee opened at 87.93, then lost ground and touched an early low of 88.01 against the US dollar, registering a decline of 16 paise over its previous close. On Wednesday, the rupee appreciated 24 paise to

Stock markets surge in early trade on buying in IT counters after US Fed rate cut

Mumbai, Sep 18 (PTI) Benchmark indices Sensex and Nifty started the trade on a buoyant note on Thursday propelled by buying in IT stocks after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reduction this year. The 30-share BSE Sensex rallied 447.5 points to 83,141.21 in early trade. The 50-share NSE Nifty climbed 118.7 points to 25,448.95. From the Sensex firms, Infosys, HCL Tech, Tech Mahindra, HDFC Bank, Sun Pharma and Tata Motors were among the major gainers. However, Bajaj Finance, Tata Steel, UltraTech Cement and Kotak

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