Sayantan Sarkar

3 weeks ago | invezz.com | Sayantan Sarkar

In a surprise move, the Reserve Bank of India slashed policy rates beyond market expectations and shifted its policy stance from accommodative to neutral. ING Group suggests the RBI’s current action indicates a likely pause in policy adjustments. However, the possibility of future easing remains open, contingent on potential declines in either growth or inflation. The Reserve Bank of India (RBI) has significantly lowered the repo rate by 50 basis points (bps) to 5.5%, exceeding market expectations.

3 weeks ago | invezz.com | Sayantan Sarkar

In May, the UN’s Food and Agriculture Organization reported a decrease in global food commodity prices. This decline was primarily due to significant price reductions in cereals, sugar, and vegetable oils. Last month, the FAO Food Price Index stood at 127.7 points, a slight decrease of 0.8% or 1.0 points from April.

3 weeks ago | invezz.com | Sayantan Sarkar

US aluminium tariffs threaten to trigger a critical shortage of aluminium scrap in Europe, jeopardising secondary production. European Aluminium had also cautioned that increased US tariffs on aluminum might trigger a scarcity of aluminum scrap in Europe, a crucial element for secondary production. This potential shortfall arises because scrap, being less affected by tariffs, is driving a change in US demand.

3 weeks ago | invezz.com | Sayantan Sarkar

Gold prices rose on Friday as weak economic data from the US increased safe-haven demand among investors. Prices were also set for a weekly increase. Investors are also waiting for the release of the US nonfarm payrolls (NFP) data later in the day. At the time of writing, the most-active gold contract on COMEX was at $3,393.35 an ounce, up 0.6% from the previous close. Among other precious metals, silver prices continued to rise on Friday after hitting an over 13-year high in the previous session.

3 weeks ago | invezz.com | Sayantan Sarkar

Silver prices have breached the psychological barrier of $35 per ounce and have hit an over 13-year high on Thursday. “Risk appetite in the general marketplace is still shaky, which continues to produce safe-haven buying of gold and silver,” Jim Wyckoff, senior market analyst at Kitco said in a report. At the time of writing, the July silver contract on COMEX was at $36.128 per ounce, up 4.3% from the previous close.