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The US March seasonally adjusted CPI and core CPI month-on-month rate, the unadjusted CPI and core CPI year-on-year rate, and Canadas March employment figures will be released in ten minutes.Pakistani media confirmed that an Iranian delegation has arrived for negotiations, with key talks between Iran and the United States scheduled for tomorrow.On April 10th, Federal Reserve official Daly stated that the U.S. already had work to do to address inflation before the oil price shock, and now that work simply needs to take longer. If the Iranian conflict is resolved quickly and oil prices fall, a rate cut is "not impossible"; however, if inflation remains higher than expected for an extended period, the Fed will remain on the sidelines until it is confident that the inflation problem has been resolved. She believes that the likelihood of a rate hike is lower than a rate cut or maintaining the current rate. Daly pointed out that persistently high oil prices will mean higher inflation, but will also affect economic growth. She has already seen higher prices transmitted into the economy, with people reducing travel due to concerns about rising costs. However, she emphasized that there is no fundamental price increase at present. She believes it is necessary to observe how the conflict develops and how businesses pass on price increases. She pointed out that the real question is whether the ceasefire can be sustained; if it can, then the CPI data is irrelevant; high inflation data itself will not surprise anyone. She stressed that reducing the inflation rate to 2% is crucial, but doing so at the expense of employment would plunge households into hardship. Currently, the risks to the Fed achieving its full employment and inflation targets are roughly balanced.Federal Reserves Daly: High inflation data will not surprise anyone.Federal Reserves Daly: The real question is whether the ceasefire can last. If it can, then the CPI data is irrelevant.

Gold Prices Remain at Rs 54,480 While Silver Prices Rise Rs 1,200

Skylar Williams

Dec 29, 2022 11:11

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In early trade on Wednesday, the price of gold remained steady, with ten kilos of the yellow metal (24-karat) trading for Rs 54,480. In contrast, silver prices increased by Rs 1,200, and a kilogram of the precious metal now costs Rs 72,300.


According to the website GoodReturns, ten grams of 22-karat gold cost Rs 49,950 each gram.


10 grams of 24-karat and 22-karat gold are sold for Rs 54,480 and Rs 49,950 in Mumbai, Kolkata, and Hyderabad, respectively.


10 grams of 24-karat and 22-karat gold are priced at Rs 54,630 and Rs 50,100 in Delhi, respectively. In Chennai, the price of 10 grams of 24-karat and 22-karat gold is Rs 55,520 and Rs 50,900, respectively.


Gold prices declined on Wednesday as a result of a strengthening U.S. dollar, having increased by 2% in the previous session due to China's move to further relax COVID-19 restrictions.


SPDR Gold Trust, the largest gold-backed exchange-traded fund in the world, said Tuesday that its holdings increased by 0.6% to 918.51 tonnes.


According to industry insiders, the price of gold in Egypt has reached all-time highs as worried depositors seek safety from a collapsing currency and as some enterprises export bullion to obtain limited dollars to cover imports.


In Delhi, Mumbai, and Kolkata, 1 kilogram of silver is now trading for Rs 72,300, whilst in Chennai, 1 kilogram of silver sells for Rs 74,200.


Spot silver slid 0.4% to $23.95, platinum fell 0.5% to $1,015.17, and palladium decreased 0.5% to $1,820.88.

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