Asian shares held firm on Thursday after Federal Reserve Chair Jerome Powell said the US economy was 'still a ways off' from levels the central bank wanted to see before tapering its monetary support
The US Federal Reserve said that the Covid-19 pandemic continues to weigh on the American economy and the labour market, reiterating the central bank will maintain its ultra-loose monetary policy
Market benchmarks in Shanghai, Tokyo, Hong Kong and Seoul retreated. Sydney gained.
Gold prices slipped on Thursday, weighed down by a stronger dollar after minutes from the US Federal Reserve's latest meeting highlighted inflationary pressures
Inflation is showing signs of stickiness, but it is only a "transitory hump" that should moderate in the third quarter, he said.
Federal Reserve officials last month felt substantial further progress on the US economic recovery "was generally seen as not having yet been met"
The dollar index, which measures the greenback against six rivals, held its ground at 92.702, little changed from Wednesday, when it touched 92.844 for the first time since April 5
US Treasuries prices maintained gains on Wednesday, holding down yields, and two stock indexes notched record highs
Spot gold rose 0.32 per cent to $1,801.55 per ounce by 9.10 pm IST, after hitting its highest since June 17 at $1,814.78 on Tuesday
The Fed isn't obliged to join China and other central banks in the craze to issue an official electronic currency. Private equivalents may do the job better
Markets are nervous about riskier assets before the release of the June policy minutes
Spot gold was up 0.1% at $1,797.84 per ounce, as of 0500 GMT, after hitting its highest since June 17 at $1,814.78 on Tuesday
A majority of analysts in Reuters polls, however, were split on the duration of the greenback's bullish trend and forecast its allure to fade in a year.
The dollar rose to a 2-1/2-month peak on Wednesday, posting its biggest monthly rise since November 2016, supported by a surprisingly hawkish shift in the US Federal Reserve's rate outlook
The overall economic and market set up is conducive for the mid-market segment to continue doing well, he said
Gold prices eased on Tuesday, as a firmer dollar made bullion expensive for holders of other currencies
A significant global bond market correction is likely in the next three months as central bankers eye the exit door from pandemic emergency policy, according to a Reuters poll of strategists
Manglunia tells Puneet Wadhwa that based on risk appetite, there is a lot of value in select names in 'AA' category and below, which offer excellent carry even in the face of threat of rising rates
Spot gold was down 0.1% at $1,776.20 per ounce by 0709 GMT
Investors have been struggling to interpret signals from the Federal Reserve about how hot it is willing to let inflation run before it begins unwinding pandemic-era monetary stimulus