Latest news with #IshaanArora
Mint
18-07-2025
- Business
- Mint
ASIA RICE-Surplus supply, tepid demand push India rates to over two-year low
(Repeats without changes to text) Thai rates widen on increase in production costs Summer-autumn harvest in Mekong Delta peaking, trader says Bangladesh to import rice ahead of upcoming flood season July 17 (Reuters) - Indian rice prices fell to their lowest level in more than two years on subdued demand and surplus supplies, while Vietnamese rice exports to Africa and the Philippines remained steady. India's 5% broken parboiled variety was quoted at $377-$382 per ton, its lowest since early December 2022, and down from last week's $380-$385. Indian 5% broken white rice was priced at $373 to $378 per ton this week. "Overseas buyers have multiple options, everyone from Thailand, Vietnam, to India wants to sell their excess stocks, so buyers are trying hard to negotiate a lower price," said a New Delhi-based trader with a global trade house. Vietnam's 5% broken rice was offered at $380-$390 per metric ton, traders said. The price was $382 a week ago, according to the Vietnam Food Association. "Demand from the Philippines and Africa remains steady," a trader based in Ho Chi Minh City said. Preliminary shipping data showed 256,583 tons of rice is to be loaded at Ho Chi Minh City port in July, with most of the rice heading to the Philippines and Malaysia. Traders said the summer-autumn harvest in the Mekong Delta, the country's key rice growing area, was peaking. Thailand's 5% broken rice was quoted at $380-$385 per tonne, compared with last week's $380. Traders said prices slightly widened over the week due to an increase in the cost of rice production in the domestic market as international demand remains quiet. A Bangkok-based trader said new supply of rice will likely enter the market at the end of this month and early next month. "Many buyers are waiting for the new crop which could drive the price down," the trader added. Meanwhile, Bangladesh will import 400,000 metric tons of rice to strengthen food security ahead of the flood season, food ministry officials said. (Reporting by Ishaan Arora in Bengaluru, Rajendra Jadhav in Mumbai, Panu Wongcha-um in Bangkok, Ruma Paul in Dhaka, and Khanh Vu in Hanoi; Editing by Sahal Muhammed)
Zawya
01-07-2025
- Business
- Zawya
HSBC raises 2025 average gold price forecast to $3,215/oz
HSBC has raised its 2025 average gold price forecast to $3,215 per ounce from $3,015 an ounce previously, the bank said in a note on Tuesday, while also raising its 2026 price forecast to $3,125 an ounce from $2,915. The bank added that it sees year-end gold prices of $3,175 an ounce in 2025 and $3,025 an ounce in 2026. (Reporting by Ishaan Arora and Anushree Mukherjee in Bengaluru; Editing by Jan Harvey)
Yahoo
17-02-2025
- Business
- Yahoo
Gold gains on softer dollar, Trump tariff threats
By Ishaan Arora and Anjana Anil (Reuters) - Gold prices rose back above $2,900 per ounce on Monday, supported by a weaker dollar and fears of an impending trade war as U.S. President Donald Trump threatened reciprocal tariffs. Spot gold was up 0.6% at $2,900.44 as of 1134 GMT after hitting a record high of $2,942.70 last week. U.S. gold futures gained 0.4% to $2,912.10. The U.S. dollar hovered near a two-month low, making bullion less expensive for buyers holding other currencies. [USD/] "Gold is still benefiting from investors looking for safe-haven assets amid concerns of a tariffs and trade war," UBS analyst Giovanni Staunovo said. "We continue to see upside for gold, with the yellow metal expected to rise to $3,000, benefiting also from ongoing central bank demand." On Friday Trump kept alive his drumbeat of tariff threats, saying levies on automobiles would be coming as soon as April 2. It was the latest in a litany of trade actions he has unveiled since taking office for the second time. Meanwhile, U.S. Secretary of State Marco Rubio said on Sunday that Kyiv and Europe would be part of any "real negotiations" to end Moscow's war in Ukraine. "Progress in the ongoing Russia-Ukraine peace talks could dilute some of gold's year-to-date gains, though the precious metal still enjoys enough tailwinds to keep spot prices supported," said Exinity Group Chief Market Analyst Han Tan. Bullion is viewed as a traditional hedge against inflation and geopolitical uncertainties, but higher interest rates dull non-yielding bullion's appeal. Some Federal Reserve officials are set to speak later in the day, and market participants will be on the watch for any clues on the path for U.S. interest rates. The U.S. market is closed for the President's Day holiday. Spot silver rose 1% to $32.50 an ounce after hitting its highest level since October 31 on Friday. Platinum gained 0.4% to $983.20, and palladium climbed 2% to $980.50. Sign in to access your portfolio
