Weekly Commodity Podcast With Ravindra Rao | 29th May 2023
Kotak Market Mantra por Kotak Securities
Notas del episodio
Highlights of this week's Commodity Podcast:
• Pending US debt ceiling deal, serious concerns about pace of Chinese economic rebound coupled with uncertainty regarding Fed rate outlook, all limited global risk appetite this week
• Dollar closed the week near two months high at 104.2 as Core PCE price index, Fed’s preferred inflation gauge, rose 0.4% in April compared to the previous month, higher than expected 0.3%, it climbed 4.4% yoy
• COMEX Gold slipped to two months low of $1936/oz and closed 1.7% lower, its third weekly loss as higher treasury yields outweighed haven bids owing to the US debt crisis. Stronger dollar, despite a serious threat of a catastrophic default as soon as June 1, added to the weakness. Silver too extended losses this week and closed nearly 3% lower in line with sharp decline in both gold and industria ...