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The rouble moved away from a more than three-month low against the dollar on Thursday, strengthening back past the 64 mark, with Russian markets still buffeted by geopolitics as the conflict in Ukraine continued. At 0730 GMT, the rouble was 1.2% stronger against the dollar at 63.68, pulling away from a low of 64.9275 hit on Wednesday, its weakest point since July 6. It had gained 0.5% to trade at 62.46 versus the euro. It Read More

Gold Price Today, Gold Price Outlook, Gold Price Forecast: The gold rate and silver rate in India fell on Wednesday on the back of weak global cues. On Multi Commodity Exchange, gold December futures were trading Rs 204 or 0.4 percent down at Rs 50,892 per 10 grams, as against the previous close of Rs 51,096. Silver December futures were ruling Rs 786 or 1.34 percent down at Rs 57,749 per kg. Globally, yellow metal prices Read More

WTI crude oil surged more than 16% towards $93 per bbl, the most since early March as OPEC+ agreed to cut production by 2 million barrels per day from November, in a move that threatens to squeeze supply further ahead of the winter season. That would be the biggest output cut since the start of the pandemic, though Saudi Arabia’s oil minister said the actual cut will likely be around 1 to 1.1 million barrels Read More

Indian rupee marked a fourth weekly decline in a row following the sharp surge in crude oil prices and foreign institutions turned net sellers after the delay of India’s bond inclusion in the JP Morgan Global Bond Index. Apart from the broad-based dollar strength, the key data released this week suggest the Indian economy is slowing while the US is still on strong footing. The interest rate differential, rebound in commodity prices, and surging deficit Read More

Concerns over tight oil supplies and soaring inflation have intensified after the OPEC+ group of nations announced its largest supply cut since 2020 ahead of European Union embargoes on Russian energy. The move has widened a diplomatic rift between the Saudi-backed bloc and Western nations, which worry higher energy prices will hurt the fragile global economy and hinder efforts to deprive Moscow of oil revenue following Russia’s invasion of Ukraine. Global crude futures jumped this Read More