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Gold futures rebound to Rs 1.48 lakh/10g after early slump; silver extends losses

New Delhi, Feb 2 (PTI) Gold prices recovered to Rs 1.48 lakh per 10 grams in futures trade on Monday after an early sharp fall that triggered the lower circuit level, while silver extended losses to witness heavy selling for the third consecutive day. On the Multi Commodity Exchange (MCX), gold futures for April delivery opened on a weak note and plunged Rs 10,688, or 7.2 per cent, to hit a low of Rs 1,37,065 per 10 grams during early trade. Later, the metal rebounded strongly, erasing all of its losses to trade higher by Rs 259, or 0.18 per

Row erupts in Lok Sabha as Rahul seeks to quote from ‘memoir’ of Gen Naravane

New Delhi, Feb 2 (PTI) A row erupted in the Lok Sabha on Monday after the Leader of the Opposition, Rahul Gandhi, sought to quote from what he said was the memoir of former Army chief M M Naravane, with Defence Minister Rajnath Singh and Home Minister Amit Shah objecting on the grounds that the book has not yet been published. As Gandhi rose to speak on the Motion of Thanks to the president’s address and began quoting from the book, Singh asked him to clarify whether the book had been published or not. The Congress leader insisted that the

Why Trump’s new pick for Fed chair hit gold and silver markets – for good reasons

Sydney, Feb 2 (The Conversation) After months of speculation, US President Donald Trump confirmed he will be nominating Kevin Warsh as the next chair of the US Federal Reserve. The appointment has been closely watched in the context of Trump’s ongoing conflict with the Fed and its current chairman Jerome Powell. The immediate reaction to the announcement was a significant crash in gold and silver markets. After months of record highs and stretched valuations, spot prices for gold and silver dropped 9% and 28% respectively after the announcement. The US stock market also fell, with major indexes all reporting modest

RBI shores up rupee after budget underwhelms investors

MUMBAI, Feb 2 (Reuters) – The RBI’s interventions helped boost the rupee away from record low levels on Monday, a day after the announcement of the country’s federal budget, which left sovereign government bonds reeling and equities on tenterhooks. The rupee appeared on course to open near its all-time low of 91.9875 per dollar, but the Reserve Bank of India’s intervention helped shore it up to 91.60, a gain of 0.4% from its closing level on Friday. India pushed manufacturing to the forefront of its budget but stopped short of the bold reforms sought by investors to boost investment amid

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