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Today Live Gold News Update By https://www.mcxgoal.com/

Gold Down as Investors Continue Digesting Hawkish Powell Remarks

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Gold was down on Wednesday morning in Asia, with the dollar continuing its retreat from a 20-year high and countering pressure from stronger Treasury yields. Investors also digested the latest hawkish comments from U.S. Federal Reserve Chairman Jerome Powell. The dollar, which normally moves inversely to gold, edged up on Wednesday but extended its decline into a fourth day. Investors’ increased appetites for riskier bets also took the edge off the safe-haven greenback’s appeal. Powell on Tuesday pledged that the U.S. central bank would hike interest rates as needed to curb sky-high inflation that he said threatened the foundation of the economy.

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Today’s Copper News Update By https://www.mcxgoal.com/

Copper price may drop to Rs 720 per kg in FY23: Crisil

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Domestic copper prices, which had increased sharply over the past year, may drop gradually to average Rs 720-725 per kg in 2022-23, Crisil said on Thursday. The price of copper wire bars averaged Rs 738 per kg (ex-factory) in FY22, a 42 per cent rise year-on-year, with rates breaching Rs 800 per kg in March before retreating to Rs 790 per kg.

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