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Gold climbs Rs 330 to Rs 98,930/10 g amid strong global cues

New Delhi, Jun 2 (PTI) Gold prices climbed Rs 330 to Rs 98,930 per 10 grams in the national capital on Monday following a firm trend in the global markets, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity had closed at Rs 98,600 per 10 grams on Friday. Gold of 99.5 per cent purity appreciated by Rs 300 to Rs 98,400 per 10 grams (inclusive of all taxes). It had settled at Rs 98,100 per 10 grams in the previous market session. Additionally, silver prices rose by Rs 100 to Rs 1,00,100 per

RBI may go for ‘jumbo rate cut’ of 50 bps on Friday: SBI research

New Delhi, Jun 2 (PTI) The RBI (Reserve Bank of India) may go for a “jumbo rate cut” of 50 basis points on Friday to reinvigorate the credit cycle and counterbalance uncertainties, said SBI research report. RBI’s rate-setting panel Monetary Policy Committee (MPC) will start deliberations on the next bi-monthly monetary policy on June 4 and announce the decision on June 6 (Friday). The central bank reduced the key interest rate (repo) by 25 bps each in February and April, bringing it to 6 per cent. The six-member MPC, headed by RBI Governor Sanjay Malhotra, also decided to change the

Sensex, Nifty end lower as renewed global trade concerns weigh on sentiments

Mumbai, Jun 2 (PTI) Benchmark equity indices Sensex and Nifty on Monday ended marginally lower, following sluggish trends in global markets amid renewed global trade concerns. Besides, the Russian-Ukraine conflict, sharp jump in Brent crude oil prices and foreign fund outflows dented investors’ sentiment, experts noted. After tumbling 796.75 points or 0.97 per cent to 80,654.26 in intra-day trade, the 30-share BSE Sensex witnessed volatile trends and later ended 77.26 points or 0.09 per cent lower at 81,373.75. The NSE Nifty dipped 34.10 points or 0.14 per cent to settle at 24,716.60. During the day, it dropped 224.55 points or

Rupee rises 16 paise to settle at 85.39 against US dollar

Mumbai, Jun 2 (PTI) The rupee appreciated 16 paise to settle at 85.39 (provisional) against the US dollar on Monday, supported by a weak American currency and on expectations of a further reduction in key interest rate by the Reserve Bank. However, a sharp gain in the local unit was prevented due to volatile equity markets, outflow of foreign funds and higher crude oil prices, forex traders said. RBI’s Monetary Policy Committee (MPC) will begin the deliberations on its next bi-monthly policy on June 4 and the outcome is scheduled to be announced on June 6. At the interbank foreign

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