Weekly Financial News

Taking cues from the international prices, MCX December gold futures opened in the green and were trading at Rs 61105 per 10 gram, up by Rs 33 or 0.05% from the Thursday closing price. Meanwhile, the December Silver futures were trading at Rs 72,934 per kg, higher by Rs 36 or 0.05%. On Comex, Gold futures were trading at $1,993.60 per troy ounce on Friday, up by $0.80 or 0.04% while Silver futures were trading at $23.720, higher by 0.032 or 0.14%. The dollar index was trading at 103.83 against a basket of top six currencies, down by $0.09 or 0.09% though the bias was negative. The December Gold futures ended at Rs 61,018 on Wednesday, down 207 or 0.34% while the December Silver futures settled at Rs 72,781, lower by Rs 523 or 0.71%. Gold futures on the MCX have gained by 0.28% or Rs 170 per 10 gram on the month-to-date basis, Analyst Anuj Gupta, Head Commodity & Currency, HDFC Securities informed.

The average long-term U.S. mortgage rate fell for the fourth time in as many weeks, more positive news for prospective homebuyers who have been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale

WASHINGTON (Reuters) — The number of Americans filing new claims for unemployment benefits fell more than expected last week, but that likely does not change the view that the labor market is slowing amid higher interest rates.

The past week brought several new major developments on the crypto regulation front. The SEC sued a major crypto exchange, IOSCO developed new international standards, Turkey pushed ahead with licensing requirements, Canada’s OSFI moved to refine industry rules, and NYDFS tightened token listing and delisting policies.

The S&P 500 (SPX) continued to rally last week as risk assets have surged since yields on U.S. Treasuries started to drop in late October. The index closed 2.2% higher last week to secure the first close above 4,500 since August.

The S&P 500 (SPX) continued to rally last week as risk assets have surged since yields on U.S. Treasuries started to drop in late October. The index closed 2.2% higher last week to secure the first close above 4,500 since August.

In recent developments within the NFT ecosystem, a consistent growth pattern has emerged, as reported by Nansen, a blockchain analytics platform. Over a five-week period, the NFT market has seen a robust increase in trading volumes, particularly in Ethereum (ETH) transactions. The upward trajectory commenced in the week closing on October 9th, with NFT sales amounting to 29,704 ETH. By the week ending November 6th, this figure nearly doubled to 68,342 ETH.

BSE Sensex logged its third successive weekly gain, supported by a surge in information technology (IT) stocks on easing global interest rate outlooks with strong US markets. On the stock-specific front, 45 smallcap stocks logged gains in the range of 15 per cent - 50 per cent last week, outperforming the index. Sharda Motor, RattanIndia Power, Orient Green Power, MSP Steel & Power, 63 Moons Tech, Titagarh Railsystems, Tata Investment, Nesco, Varrox Engineering, Dilip Buildcon, Antony Waste Handling, GE Power India, DB Realty, KPI Green Energy, Jain Irrigation, DCX Systems, IFB Industries, SMC Global, Solar Industries are among the smallcaps that logged a double-digit rise in their share prices last week.

Almost 100 companies in the smallcap segment gave double-digit returns of up to 41% in the week ended November 18, data analysed by ETMarkets showed. While the benchmark Sensex clocked 1.4% gains on a week-on-week basis, the week was a volatile one, as the index fell in two out of the four trading sessions. However, the S&P BSE Midcap and Smallcap indices have outperformed Sensex, gaining more than 2% and 3%, respectively.

₹6,252 per bbl, having swung between ₹6,070 and ₹6,261 per bbl during the session so far, against a previous close of ₹6,026 per barrel. -Oil's decline this week was mainly triggered by a steep rise in US crude inventories and production sustaining at record levels, while signs of thawing demand in China also triggered concerns.

By Herbert Lash and Iain Withers

Investing.com — U.S. stocks were falling early Friday after earnings reports from major retailers beat expectations but set a cautious tone heading into holiday sales season.

U.S. Treasury funds recorded their first outflow since February in the week to Wednesday, as global investors shed $1 billion of the government bonds and piled into stocks, according to Bank of America and data provider EPFR on Friday.

funding climate for Indian technology startups deteriorated year-over-year, with $29.7 million deployed across 6 funding rounds in the week from November 13 to 17. In the comparable week in 2022, startups had raised $189 million across 34 funding rounds. The deals in the 2023 week averaged at about $4.95 million per deal, versus $5.6 million per deal in 2022.

Investing.com — The U.S. dollar edged higher in early European trade Friday, but was heading for a sharp weekly loss after cooling inflation spurred growing bets that the Federal Reserve has completed its series of rate hikes.

Investing.com-- Most Asian currencies moved little on Friday after strong gains earlier this week, while the dollar headed for a sharp weekly fall as weak labor market data fueled more bets that the Federal Reserve will trim interest rates by mid-2024. 

Gold prices rose slightly on Friday, on track for their first weekly gain in three, as investors grew confident that the U.S. Federal Reserve is done raising interest rates, sending the dollar and Treasury yields lower. FUNDAMENTALS * Spot gold was up 0.2% at $1,984.26 per ounce, as of 0059 GMT, after hitting its highest since Nov.

Federal Reserve is done raising rates leaving the greenback headed for a weekly loss. A slew of weaker-than-expected U.S. economic data released this week, led by a slowdown in inflation, has reinforced market expectations that the Fed has reached the end of its aggressive monetary tightening cycle, with focus now on when the first rate cuts could begin. Market pricing shows just a 0.3% chance of another rate hike in December, as compared to a roughly 15% chance a week ago, with a 35% chance that the U.S.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.4% from a two-month high, but still up 3.1% so far for the week in its best performance since July. Both Brent and U.S. crude slid almost 5% on Thursday to four-month lows in a move that was blamed on economic and supply concerns, though technical selling likely played a part when the $80 bulwark broke.

By Wayne Cole

The average rate on the benchmark 30-year home loan fell for the third week in a row, welcome news for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale