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Here’s why India’s gold demand rose 8% in Q4 despite soaring prices

Representational image Gold demand in the country surged 8 per cent annually to 136.6 tonne in the March quarter despite prices touching historic highs, according to the World Gold Council.   In its global report 'Gold Demand Trends Q1 2024' released on Tuesday, the World Gold Council (WGC) revealed that the gold demand in India [...] READ MORE

Gold price rally could cut India’s demand to four-year low -WGC

Gold bars are displayed at a gold jewellery shop in the northern Indian city of Chandigarh May 8, 2012. MUMBAI, April 30 (Reuters) - India's gold demand in the March quarter rose 8% from a year ago, but recent rallies in prices of the precious metal could cut its total consumption in 2024 to the [...] READ MORE

Japan reminds on FX readiness as data suggests $35 bln yen intervention

Japan's vice minister of finance for international affairs, Masato Kanda, poses for a photograph during an interview with Reuters at the Finance Ministry in Tokyo, Japan January 31, 2022. Summary Money market data points to yen intervention Japan PM, officials decline comment Yen steady around 157 per dollar TOKYO, April 30 (Reuters) - Japan stands [...] READ MORE

Fed rate cuts unlikely thanks to spending by rich Americans

FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. Since retiring two years ago, Joan Harris has upped her travel game.   Once or twice a [...] READ MORE

The Fed will only cut rates when it’s panicking over a recession and a market crash, Black Swan investor says

Investors should be wary of coming Fed rate cuts, Black Swan investor Mark Spitznagel warned. That's because the Fed is only cutting rates in response to a weakening economy, Spitznagel told Reuters last week. The US could see a recession and major stock crash before rates head lower, he predicted.   Rate cuts by the [...] READ MORE

Banks Pay Savers More to Stay Amid Steep Interest Rates

For America’s biggest banks, deposit costs are exceeding interest income.   That’s the first time that’s happened since the Federal Reserve began increasing rates two years ago, the Financial Times noted in a report Sunday (April 28) on the phenomenon.   Among the lenders in question is Wells Fargo, which paid almost $594 million more [...] READ MORE

BRICS: $260 billion in trade without a single dollar

As the American debt’s wild growth of more than 34,600 billion dollars continues to raise concerns, the BRICS deliver another blow to the greenback. China and Russia, two founding countries of the alliance, plan to conduct 260 billion dollars of trade without resorting to a single American dollar. Only Russian ruble, Chinese yuan, and a [...] READ MORE

29% of households have jobs but struggle to cover basic needs: They are ‘one emergency from poverty,’ one expert says

KEY POINTS The number of households that live above the poverty line but are barely scrapping by is ticking higher. Currently, nearly 40 million families are defined as ALICE, which stands for Asset Limited, Income Constrained, Employed. High inflation and higher interest rates have taken a hefty toll, and there is little relief in sight. [...] READ MORE

A modern gold rush is on, as people cash in on record-high prices

Oil Drops as Progress on Cease-Fire in Gaza Shrinks Risk Premium Whether you have some old jewelry or maybe some coins at home, you could benefit from today's sky-high gold and silver prices.   For instance, just four small, once-ounce gold coins are now worth almost $10,000.   And people are cashing in.   At [...] READ MORE