Gold buyers piling into exchange-traded funds are taking a pessimistic view of the US Federal Reserve’s ability to cool decades-high inflation without hurting the economy.
The possibility of a de facto EU embargo on Russian gas and threat of some curbs on crude in Europe’s next sanctions package bolstered both commodities.
Gold and various other commodities have fallen from recent highs. Concerns remain over threat of an inflationary shock to global economy as Federal Reserve prepares to raise interest rates.
Bullion is extending gains after posting biggest weekly advance since July 2020 amid concerns that the penalties against Russia could dim global growth & further stoke inflation.
Gold is holding above $1,800 an ounce after dropping for the first time in three years in 2021 as central banks globally started dialing back on pandemic-era stimulus.
Along with crash in value of UST and Luna coins, Indian market for crypto assets also reeling under strict control imposed by government, with the imposition of TDS on all crypto transactions.
Doval's comments came at 4th Regional Security Dialogue on Afghanistan attended by national security advisors from Tajikistan, India, Russia, Kazakhstan, Uzbekistan, Iran, Kyrgyzstan & China.
Global order is in flux, and India is being wooed by all. It opens up economic, strategic & military possibilities unimaginable till recently. It is for India to take this opportunity.