Economy

Gold heads for first weekly rise in five on dollar weakness

Spot gold was up 0.5% to $1,844.58 per ounce by 10:56 a.m. ET (1556 GMT) after hitting its highest since Feb. 15 earlier in the session. Prices have risen about 1.9% so far this week. U.S. gold futures rose similarly to $1,850.10

Oil prices down after report on UAE debating OPEC exit

Brent crude futures were down 71 cents, or 0.8%, at $84.04 a barrel by 1456 GMT. U.S. West Texas Intermediate (WTI) crude futures dipped 57 cents, or 0.7%, to $77.59. Both benchmarks had dropped more than $2 earlier.

India's forex reserves fall $325 million to $560.94 billion

In the previous reporting week, the overall reserves had declined $5.68 billion to $561.267 billion.

G20 Summit: Modi urges foreign ministers to not let difficult issues block others

Addressing the G20 foreign ministers ahead of their meeting in Delhi, the prime minister hinted that discussions around the Russia-Ukraine war should not derail the rest of the agenda of the summit

Spring cut short: Warmer days ahead for India but no heatwave likely in March

Temperatures are likely to settle above normal from March to May as a whole for most parts of India, barring southern parts of the country, says IMD.

U.S. stocks, Treasuries dip as inflation worries outweigh China rebound

China's official manufacturing purchasing managers' index (PMI) rose to 52.6 last month from 50.1 in January and was well ahead of an analyst forecast for 50.5, giving investors hope that China's recovery can offset a global slowdown.

GST collection in Himachal Pradesh rises by 25% in February

The GST collection in the current financial year so far is Rs 4,933 crore, which is 21 per cent more than the previous year, the release said.

Gold faces worst month since June 2021 as rate-hike fears dominate

Gold prices touched their highest since April 2022 in early February, but soon reversed course. Bullion has fallen more than 5% so far this month after strong economic data boosted expectations of more rate hikes.

IMD: India to witness above-normal temperatures from March-May

"Except peninsular parts, all parts are likely to have above normal temperature," the Indian meteorological department said.

Bill Gates calls on RBI Governor; discusses financial inclusion, microfinance

Billionaire businessman Gates is also engaged in large-scale philanthropy activities.

Shares rise as the dollar takes a breather from rate-driven rally

U.S. manufacturing and services data, as well as a raft of euro zone inflation figures are going to be instrumental in shaping investor expectations for March's central bank meetings.

Gold plunge Rs 185; silver plummets Rs 798

The yellow metal had ended at Rs 55,705 per 10 grams in the previous trade.

Global stocks fall, U.S. yields rise after strong economic data

Commerce Department data showed that consumer spending, which accounts for two-thirds of U.S. economy activity, rose by 1.8% in January, the largest increase in nearly two years and exceeding analyst estimates, according to a Reuters poll.

Oil up in choppy trade; U.S. inventories up but Russia cuts supply

Brent crude futures were up 54 cents, or 0.7%, at $82.75 a barrel by 11:31 EST (1631 GMT). West Texas Intermediate U.S. crude futures (WTI) gained 57 cents, or 0.8%, at $75.96. Earlier, both fell by more than $1 a barrel.

India's image today is that of country ready to go to any extent to protect its national security: Jaishankar

He also cited a top International Monetary Fund official about 15 per cent of growth this year coming from India, and said India is "15 per cent of the solution" the G20 group of countries is looking for in terms of economic growth.

Pakistan faces the abyss again. Debate rages on who should pay

The price of baby formula is up 15 percent in a month. Thousands of food containers are stuck at ports as the government curbs imports to preserve its last $3 billion in foreign currency

Global shares, U.S. Treasury yields fall ahead of Fed minutes

The Fed minutes from the Jan. 31-Feb.1 meeting are set to be published at 2 pm ET, and will give traders some detail into the debate over how much further interest rates may need to be hiked to curb inflation.

Gold steadies as focus turns to U.S. Fed minutes

Spot gold was steady at $1,833.30 per ounce, as of 1053 GMT. U.S. gold futures were flat at $1,842.50.

Oil falls on fuel demand woes ahead of U.S. Fed comments

Brent crude futures for April delivery fell $1.13, or 1.36%, to $81.92 a barrel by 1025 GMT. West Texas Intermediate (WTI) crude futures for April dropped by $1.18, or 1.55%, to $75.18 a barrel.

Global shares follow Wall Street lower in rate hike fears

France's CAC 40 slipped nearly 0.8% in early trading to 7,252.50. Germany's DAX fell 0.7% to 15,290.37. Britain's FTSE 100 dropped 0.9% to 7,902.44. The futures for the Dow Jones Industrial Average and S&P 500 edged 0.1% higher.

Zinc futures down on muted demand

On the Multi Commodity Exchange, zinc contracts for February delivery traded lower by Rs 1.20 or 0.44 per cent at Rs 273.40 per kg in 1,060 lots.

Dollar hovers near six-week high as economies strengthen

Survey data released on Tuesday showed U.S. business activity unexpectedly rebounded in February to reach its highest in eight months. In the euro zone, a survey-based gauge of activity also surged, hitting a nine-month high.

India must have contingency plan in place as El Niño threat looms: Experts

NITI Aayog believes Indian agriculture is quite resilient now to such shocks and the share of the crop which is affected by rainfall is declining steadily