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Rupee continues to slip
Sep 21,2016

Rupee closed lower on Wednesday (21 September 2016) at 67.0150/0250 per dollar, versus its previous close of 67.0050/0150 per dollar.

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Mixed finish for bullions
Sep 21,2016

Bullion prices ended in a mixed mode on Tuesday, 20 September 2016 at Comex. Gold futures on Tuesday ended with a slight gain, but moved in a narrow trading range, as focus remained fixed on the dollars next move a day ahead of policy announcements from the U.S. Federal Reserve and Bank of Japan.

December gold picked up 40 cents to settle at $1,318.20 an ounce. The metal closed 0.6% higher on Monday. December silver fell 1.3 cents, or less than 0.1%, to $19.277 an ounce on Tuesday.

The ICE U.S. dollar index, a measure of the greenback against six currencies, was up 0.2% and U.S. stocks traded modesty higher, drawing some investor attention away from gold.

The U.S. Dollar Index also enjoyed a modest bid as participants eyed the potential for a policy divergence trade. The Bank of Japan is scheduled to release its latest policy decision and a comprehensive assessment of its monetary policy this evening. It remains unclear how the central bank will proceed, but reports indicated earlier in the week that the BoJ may favor expanding its negative interest rate policy. The central bank will release its policy decision around 23:00 ET. Higher U.S. rates, or lower Japanese rates, are seen as dollar-supportive. That could undermine pricing for gold priced in greenbacks.

A rising-rate climate can also dull the appeal of gold, which doesnt offer a yield. But the Fed picture isnt that clear-cut. Signs of accelerating inflation could prompt the Fed to move to raise rates more aggressively, and sooner versus later.

Among economic data expected at Wall Street, Housing starts for August came in at a seasonally adjusted rate of 1.142 million (consensus 1.186 million) while building permits fell to 1.139 million (consensus 1.160 million) due entirely to a 7.2% decline in permits for multi-unit dwellings. The data follows yesterdays above-consensus reading of the NAHB Housing Market Index for September.

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Rupee sops
Sep 20,2016

Rupee continued its losing streak on Tuesday (20 September 2016) to close at 67.0050/0150 per dollar, versus its previous close of 66.9575/9675 per dollar.

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Rupee firm
Sep 19,2016

Rupee closed higher at 66.9575/9675 per dollar on Monday (19 September 2016), versus its previous close of 67.08/09 per dollar last Friday.

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Gold at lowest levels in three months
Sep 19,2016

Bullion prices ended lower at Comex on Friday, 16 September 2016. Gold futures finished at their lowest level in almost three months on Friday, logging a seventh drop in eight sessions to finish the week with a nearly 2% loss as the U.S. dollar climbed sharply in the run up to key central bank policy meetings next week.A report on inflation muddied the short-term fate for U.S. interest rates ahead of separate meetings of the Federal Reserve and Bank of Japan. Attention was fixed on inflation data and any implications it has for Fed decision-making. Quadruple witching, when certain futures and options expire at the same time, added volatility to the trading session, prompting prices to end closer to the days lows.

December gold fell $7.80, or 0.6%, to $1,310.20 an ounce. Prices saw the lowest settlement since June 23 and lost 1.8% for the week. December silver also fell by 17.9 cents, or 0.9%, to $18.862 an ounce, down around 2.6% for the week.

Economic data at Wall Street on Friday showed that the U.S. Consumer Price Index rose 0.2% in August, outpacing a forecast for 0.1% advance. Excluding the volatile food and energy categories, so-called core consumer prices climbed 0.3%. Consumer inflation is firming (as is producer price inflation) and there is some data-based rationalization in the core CPI rate for the Fed to raise the fed funds rate.

Both central banks are eyeing divergent directions for their respective monetary policies, when their policy-setting committees separately convene Sept. 20-21. Their actions, or simply their commentary, could influence their currencies and dollar-priced assets like metals.

Separately, the preliminary reading of the University of Michigan Consumer Sentiment Survey for September was unchanged from the final August reading, holding at 89.8.

The dollar has strengthened in response to the higher-than-expected consumer price inflation, prompting gold to drift lower. The ICE U.S. Dollar Index extended its gain after the inflation data, and traded 0.8% higher as gold futures settled. Higher rates tend to lift the dollar, dulling the appeal of greenback-priced assets including precious metals. At the same time, signs of deepening inflation risks could revive demand for gold as a hedging alternative to inflations erosive effects on other assets.

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Bullions drop again
Sep 16,2016

Bullion prices ended lower on Thursday, 15 September 2016. Gold prices dropped to mark a sixth loss in seven sessions as investors sifted through the latest deluge of U.S. economic data in the run up to next weeks meeting of the Federal Reserve. A deluge of macroeconomic reports drew into focus the near-term picture for interest rate-sensitive trading in currencies and metals. Both the Federal Reserve and the Bank of Japan are slated to hold policy meetings next week, which could influence the buck and dollar-priced assets like metals.

December gold fell $8.10, or 0.6%, to settle at $1,318 an ouncen++the lowest level in two weeks.

December silver fell 2.5 cents, or 0.1%, to $19.041 an ounce.

A broad index for the greenback switched between gains and losses on Thursday. The buck was slightly weaker versus the yen. It gained ground against the U.K.s sterling after the Bank of England left rates and bond-buying untouched but cracked the door open for a future rate cut.

The flurry of economic reports Thursday included a closely watched snapshot of retail sales. Sales at U.S. retailers fell 0.3% in August and declined for the first time in five months. U.S. producer prices were flat in August, while regional manufacturing gauges measuring conditions in the New York area and Philadelphia both showed improvement. Economic data can sway the Feds decisions on interest rates.

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Rupee flutters on devaluation talk
Sep 15,2016

Rupee went down to close at 67.0175/0275 per dollar on Thursday (15 September 2016) after a Ministry of Commerce hinted at devaluation of rupee. However the Finance Ministry has declined such an idea. Earlier rupee closed at 66.90/92 per dollar on Wednesday.

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Precious metals end higher
Sep 15,2016

Bullion prices ended higher at Comex on Wednesday, 14 September 2016 at Comex. Gold futures settled higher on Wednesday, as support from a retreat in the U.S. dollar prompted prices to snap a five-day slide. But investors remained wary ahead of next weeks meetings for the U.S. Federal Reserve and Bank of Japan that may yield changes to monetary policy.

December gold rose $2.40, or 0.2%, to settle at $1,326.10 an ounce. December silver rose 9.1 cents, or 0.5%, to $19.066 an ounce.

Prices edged down on Tuesday to finish at their lowest level in nearly two weeks as a strengthening U.S. dollar pressured gold. But a broad index for the greenback on Wednesday traded lower as gold prices settled, with global markets readying for key interest-rate meetings slated for next week. The Feds policy announcement is due at the end of its two-day meeting next Wednesday and the BOJ meets during the same period.

Comments from Fed officials have also managed to rattle the gold market. Fed Gov. Lael Brainard on Monday struck a dovish monetary policy tone, saying the central bank needed to be prudent in considering future rate rises. Brainards comments were the last from a Fed official ahead of the U.S. central banks own policy meeting next week.

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Rupee marches forward
Sep 14,2016

Rupee closed higher on Wednesday (14 September 2016) at 66.90/92 per dollar, versus its previous close of 67.14/15 per dollar.

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Precious metals turn dull
Sep 14,2016

Bullion prices ended lower at Comex on Tuesday, 13 September 2016.Gold futures failed to hold on to earlier gains on Tuesday as pressure from strength in the U.S. dollar prompted prices to extend their losing streak to a fifth session in a row. Some dovish Federal Reserve comments on Monday had helped to cool expectations for an interest-rate hike as soon as next week, but the greenback managed to post gains on Tuesday ahead of next weeks Fed policy meeting.

On Tuesday, December gold fell $1.90, or 0.1%, to settle at $1,323.70 an ounce.

December silver fell 2.5 cents, or 0.1%, to $18.975 an ouncen++also its lowest settlement since the start of this month.

Fed Gov. Lael Brainard on Monday struck a dovish tone, saying the central bank needed to be prudent in considering future rate rises. Her comments hit just minutes before golds settlement, keeping prices for the metal off the days lows. Financial markets had braced for potential signals from Brainard for an imminent hike, especially after hawkish-leaning chatter from her colleagues in recent days.

On Tuesday, the ICE U.S. Dollar Index rose by 0.4%, while U.S. equities traded lower after a rally on Monday.

A loose monetary-policy stance is positive news for gold bulls as the metal, which doesnt pay interest, is typically more appealing in a low-rate environment. Conversely, indications for rising rates tend to pressure gold prices. U.S. currency weakness is also a boon for dollar-pegged assets including precious metals, making them relatively cheaper to buyers using other currencies.

Todays economic data at Wall Street was limited to the Treasury Budget for August. The Treasury Budget for August showed a deficit of $107.1 billion versus a deficit of $64.4 billion in August 2015. The Treasury Budget data is not seasonally adjusted, so the August deficit cannot be compared to the $112.8 billion deficit registered in July. Total receipts in August were $231.3 billion while total outlays were $338.4 billion. Receipts were $20.5 billion more than receipts in August 2015. Total outlays, meanwhile, were $63.2 billion more than the same period a year ago. The 12-month deficit widened to $529.9 billion from $487.2 billion in July.

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Precious metals rally
Sep 07,2016

Bullion prices rallied on Tuesday, 06 September 2016 to log their highest settlement in nearly three weeks as a fall in the U.S. service-sector index to its weakest level in over six years appeared to diminish the likelihood of a U.S. interest-rate hike this month, fueling a drop in the dollar.

December gold jumped $27.30, or 2.1%, to settle at $1,354 an ounce. December silver soared higher by 77.2 cents, or 4%, to $20.138 an ounce. Gold prices last week had eked out a weekly gain of less than 0.1%, but lost 3.4% for the month of August, the first monthly loss since May.

The ICE U.S. Dollar Index, a measure of the greenback against a basket of six rival currencies, was down 1.1% as gold prices settled. The greenback and dollar-denominated precious-metals prices tend to move inversely.

The Institute for Supply Management said Tuesday that its nonmanufacturing index fell to 51.4% last month from 55.5% in July. That was the weakest showing since February 2010.

The key takeaway from the ISM report is that it appears as if both the manufacturing sector and the non-manufacturing sector experienced a noticeable slowing of activity in August. U.S. employment data released last Friday had already shown slower overall job growth in August and an unemployment rate holding at 4.9%.

The debate over the speed and aggressiveness of Fed interest-rate changes has been pinned to each economic release but the payrolls report carried additional weight for financial markets. Prospects for higher interest rates can boost the dollar and dull the appeal of greenbak-priced gold. Rising rates also can turn off investors from precious metals, which dont bear a yield.

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Rupee gains moderately
Sep 01,2016

Rupee closed with moderate gains on Thursday (01 September 2016) at 66.95/96 per dollar, versus its previous close of 66.97/98 per dollar.

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Rupee plunges on dollars strength
Aug 29,2016

Rupee closed lower on Monday (29 August 2016) at 67.1660/1860 per dollar, versus its previous close of 67.0575/0675 per dollar last Friday.

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Modest gains for bullions
Aug 29,2016

Bullion prices settled modestly higher on Friday, 26 August 2016 paring earlier gains, as traders eyed moves in the dollar following comments from two top Federal Reserve officials that hinted at a potential U.S. interest-rate hike as early as next month.

December gold tacked on $1.30, or 0.1%, to settle at $1,325.90 an ounce Friday. It had eased back from earlier highs above $1,344 that were hit as Yellen spoke and the U.S. ICE Dollar Index dropped. Gold futures were down about 1.5% for the week, the biggest weekly decline since the week ended 15 July.

December silver rose 13 cents, or 0.7%, to $18.745 an ounce, leaving the white metal with a 3.6% weekly drop.

The dollar saw volatile trading after Federal Reserve Chairwoman Janet Yellens speech at the Kansas City Feds annual economic symposium at Jackson Hole, Wyo. She said the case for an increase in the federal-funds rate had strengthened in recent months, but would remain dependent on what incoming data say about the U.S. economy. Chair Yellen indicated that the case for a rate hike had improved in recent months, but she also acknowledged that monetary policy is not on a preset course.

Following the comments, gold prices rallied $20 an ounce or more when the greenback began to drop versus other major currencies.

But the dollar then turned decidedly higher after Fed Vice Chairman Stanley Fischer, said Yellens speech was n++consistentn++ with the possibility of two rate increases this year. Fischer, however, also said that the August jobs report will influence the central banks rate decision, echoing Yellens emphasis on the importance of incoming economic data.

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Rupee dips
Aug 24,2016

Rupee sinked to close at 67.1050/1150 per dollar on Wednesday (24 August 2016), versus its previous close of 67.0600/0650 per dollar.

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