Category: Beyond

Categories
Beyond

Rupee slips 3 paise to 92.43 against US dollar

Rupee weakened slightly on Wednesday morning, falling by 3 paise to 92.43 against the US dollar in early trade at the interbank foreign exchange market.

The rupee opened at 92.42 against the dollar and slipped marginally to 92.43 during the early session. Currency traders said the fall was mainly due to a stronger US dollar in global markets and continued outflows of foreign institutional investors (FIIs).

Market participants noted that foreign investors have been selling Indian equities in recent sessions, increasing demand for the US dollar. This has put pressure on the domestic currency. At the same time, global uncertainties and geopolitical tensions have also strengthened the dollar against several emerging market currencies, including the rupee.

Despite the weakness, the rupee’s decline was limited due to some supportive factors in the domestic market. Indian equity markets opened on a positive note, which helped prevent a sharper fall in the currency.

Another factor supporting the rupee was the slight easing of global crude oil prices. Since India imports a large portion of its oil requirements, lower crude prices reduce the country’s import bill and help support the domestic currency.

In the previous trading session, the rupee had settled at 92.40 against the US dollar after touching an intraday low of 92.47. The recent movement suggests that the currency is currently trading within a narrow range.

Also Read: Gold gains ₹1,58,090, silver trades at ₹2,75,100

Categories
Beyond

Gold gains ₹1,58,090, silver trades at ₹2,75,100

Gold prices in India remained largely steady on Wednesday, with only marginal increases across major cities, while silver witnessed a small uptick. Market participants are keeping a close watch on global geopolitical developments and the US Federal Reserve’s upcoming policy announcement, which could influence precious metal trends.

On the domestic front, 22‑carat gold traded between ₹1,58,090 and ₹1,58,100 per 10 grams in Delhi. Mumbai recorded a slightly higher range of ₹1,58,200 – ₹1,58,210. Prices for 24K gold ranged from ₹1,72,000 – ₹1,72,010 in Delhi and ₹1,72,120 – ₹1,72,130 in Mumbai. 18K gold hovered near ₹1,29,000 – ₹1,29,010 in Delhi and ₹1,29,100 – ₹1,29,110 in Mumbai.

Silver prices also saw a modest rise, trading between ₹2,75,100 – ₹2,75,200 per kilogram in Delhi, ₹2,75,150 – ₹2,75,250 in Mumbai, ₹2,75,050 – ₹2,75,150 in Kolkata, and ₹2,75,100 – ₹2,75,200 in Chennai.

Experts attribute these movements to a combination of factors. Geopolitical tensions in the Middle Eas,  including conflicts involving Israel, the US, and Iran, have kept safe-haven demand for gold and silver elevated. Meanwhile, crude oil prices crossing the $100 per barrel mark due to supply concerns in the Strait of Hormuz have added inflationary pressure, further supporting bullion.

Despite these drivers, gains were modest as investors remain cautious ahead of US monetary policy signals. Analysts note that higher interest rates could reduce the appeal of non-yielding assets like gold, while silver’s dual role as an industrial and investment metal makes it more sensitive to market sentiment.

Also Read: Sensex jumps to 76,300, Nifty rises above 23,700

Categories
Beyond

Japan releases emergency oil reserves

Japan has started releasing oil from its emergency reserves as rising tensions in the Middle East threaten global energy supplies. The decision comes amid fears that the ongoing war involving Iran could disrupt crude shipments and push fuel prices higher worldwide.

The Japanese government allowed oil refiners and trading companies to use part of their stockpiles after reducing the mandatory reserve requirement for private companies. The requirement was lowered from 70 days to 55 days, freeing up significant volumes of oil for immediate use.

Officials said the measure is intended to stabilise domestic fuel supplies and prevent shortages if imports are affected by the conflict. Japan relies heavily on imported oil, most of which comes from the Middle East.

The government is expected to release reserves in stages. Initially, part of the oil held by private companies will be made available to the market. Government-controlled reserves may also be released later if the supply situation worsens.

The move comes as concerns grow over disruptions to shipping routes in the region, particularly through the Strait of Hormuz. The narrow waterway is one of the world’s most important oil transit routes, with about one-fifth of global oil supply passing through it.

Any interruption to shipping in the strait could have serious consequences for global energy markets. Recent tensions and military activity in the region have already increased uncertainty about the safety of tanker movements.

Oil prices have surged amid the crisis, with markets reacting to fears of reduced supply. Several countries are closely monitoring the situation and considering measures to protect their energy security.

Energy experts say releasing strategic reserves can help reduce short-term supply pressure and calm markets. However, they warn that the step alone may not solve the problem if the conflict continues and transport routes remain unstable.

Japan maintains large emergency oil reserves specifically for situations such as natural disasters, supply disruptions or geopolitical crises. The current release is aimed at ensuring that industries, transport services and households continue to have stable access to fuel.

Also Read: Global oil prices jump over 2%

Categories
Beyond

Global oil prices jump over 2%

Global oil prices rose by more than 2% on Tuesday as growing tensions in the Middle East increased fears of disruptions to global energy supplies. Markets reacted to the ongoing conflict involving Iran and the risk it poses to oil shipments passing through the Strait of Hormuz, one of the world’s most important energy routes.

Benchmark crude prices moved sharply higher during trading. Brent crude climbed to around $102–$103 per barrel, while U.S. West Texas Intermediate (WTI) crude approached $96 per barrel. The increase reflects rising concerns among traders that the conflict could restrict oil exports from the Gulf region.

The Strait of Hormuz is a crucial shipping corridor connecting major oil-producing countries in the Middle East to global markets. Nearly one-fifth of the world’s oil supply normally moves through this narrow passage. Any disruption in the route can quickly affect global oil availability and push prices upward.

Recent developments in the region have heightened market anxiety. Reports of attacks targeting shipping and energy infrastructure near key Gulf oil hubs have raised fears that the conflict could expand and further disrupt supply chains. The situation has also slowed tanker movement in the area, creating uncertainty for exporters and buyers.

Some Gulf producers have already been affected by the disruption. Reduced shipments and logistical challenges have forced certain producers to scale back production temporarily. This has added to concerns that global oil supplies could tighten if the conflict continues.

Energy analysts say the situation remains highly uncertain and markets are reacting to the risk of further escalation. If tensions persist or shipping through the Strait of Hormuz remains restricted, oil prices could remain volatile in the coming weeks.

There are also discussions among major energy organizations about possible measures to stabilize the market. One option being considered is the release of oil from strategic reserves to offset potential supply shortages.

The Middle East plays a central role in global energy supply, and prolonged instability in the region can have wide economic impacts. Higher oil prices could increase fuel costs and add inflationary pressure in many countries.

Also Read: Rupee settles at 92.42 against US dollar

Categories
Beyond

Rupee settles at 92.42 against US dollar

Rupee declined against the US dollar in early trade on March 17 but later recovered some of the losses to end the day at 92.42 per dollar in the domestic foreign exchange market.

At the interbank forex market, the rupee opened around 92.35 against the US dollar and soon weakened further, falling 14 paise to 92.42 during the initial trading session. The early decline was mainly driven by global and domestic factors that continued to pressure the local currency.

Forex market participants said the fall in the rupee was influenced by rising global crude oil prices, which increase India’s import bill and often weaken the domestic currency. In addition, foreign institutional investors (FIIs) continued to pull funds out of Indian equities, adding further pressure on the rupee. A stronger US dollar in international markets also weighed on the Indian currency during the day’s trading.

Despite the early weakness, the rupee managed to recover some ground later in the session. The domestic currency eventually closed at 92.42 per dollar, about 4 paise stronger than the previous closing level of 92.46. Traders said the recovery helped limit the overall losses for the day.

Market experts noted that possible intervention by the Reserve Bank of India (RBI) through state-owned banks may have supported the rupee and prevented a sharper fall. The central bank often steps in to stabilise the currency when there is excessive volatility in the forex market.

Global developments also continue to influence the movement of the rupee. Geopolitical tensions in West Asia have pushed up crude oil prices in recent weeks, raising concerns for oil-importing countries like India. Higher oil prices typically increase demand for dollars, which can weaken the rupee.

Also Read: Gold at ₹1.57 lakh, Silver at ₹2.69 lakh

Categories
Beyond

Gold at ₹1.57 lakh, Silver at ₹2.69 lakh

Gold and silver prices in India witnessed a slight decline on March 17, with both precious metals slipping marginally in domestic markets. The fall comes amid mixed global cues, as investors remain cautious while monitoring geopolitical developments and economic signals influencing bullion prices.

According to market data, the price of 24-carat gold dipped by ₹10 to ₹1,57,410 per 10 grams, while 22-carat gold also fell by ₹10 to ₹1,44,290 per 10 grams. Meanwhile, silver prices declined by ₹100, bringing the rate down to ₹2,69,900 per kilogram. Despite the minor drop, prices continue to remain at relatively high levels and are moving within a narrow range in recent sessions.

City-wise rates show minor variations across major markets. In Delhi, 24-carat gold was priced at ₹1,57,560 per 10 grams, while 22-carat gold stood at ₹1,44,440 per 10 grams. In cities such as Mumbai, Kolkata, Bengaluru and Hyderabad, 24-carat gold was trading at ₹1,57,410 per 10 grams and 22-carat gold at ₹1,44,290 per 10 grams.

Prices in Chennai were comparatively higher than other metro cities. Here, 24-carat gold was quoted at ₹1,60,470 per 10 grams, while 22-carat gold stood at ₹1,47,090 per 10 grams. Silver in most cities was priced at ₹2,69,900 per kg, whereas in Chennai the metal was trading higher at ₹2,75,900 per kg.

Bullion markets continue to be influenced by global developments. Internationally, gold prices have been fluctuating amid changing economic conditions, currency movements and investor sentiment. A weaker US dollar has provided some support to gold prices, while concerns related to global economic trends and geopolitical tensions have kept markets cautious.

Also Read: Sensex rises 300+ points, Nifty nears 23,500

Categories
Beyond

Middle East tensions push aluminium prices higher

Escalating tensions in the Middle East have pushed global aluminium prices higher, raising concerns among manufacturers and traders about potential supply disruptions. The geopolitical situation has increased risks to key shipping routes and export channels, tightening the availability of the metal in international markets.

Aluminium prices on global exchanges have risen steadily in recent weeks. On the London Metal Exchange (LME), the metal is trading close to $3,450 per tonne, while prices in India have climbed past ₹340 per kilogram on the Multi Commodity Exchange (MCX). The price surge reflects a combination of supply worries and steady demand from sectors such as automobiles, construction, packaging and electronics.

The Middle East plays an important role in global aluminium production and exports. The region produces about 6.5 million tonnes of aluminium annually, much of which is shipped through strategic trade routes such as the Strait of Hormuz. Rising geopolitical tensions have raised fears that disruptions to these routes could affect shipments, with around 5 million tonnes of supply potentially exposed to risk if the situation worsens.

At the same time, global aluminium inventories have been shrinking. Stocks held in warehouses monitored by the London Metal Exchange have dropped to about 446,875 tonnes, marking one of the lowest levels in recent months. Limited expansion of smelting capacity and production constraints in major producing countries, including China, have also contributed to tighter supply.

Despite the recent spike linked to geopolitical tensions, aluminium prices had already been on an upward trend over the past year. Globally, prices have increased by roughly 25 per cent, while the Indian market has seen gains of more than 30 per cent. Since the beginning of the year, aluminium prices have risen by around 12 per cent, supported by improving industrial demand and broader strength in base metals.

Industry experts also highlight new technological developments that could further boost demand for aluminium in the long run. Researchers are exploring aluminium-based battery technologies, including aluminium-ion batteries, as potential alternatives for future energy storage systems.

Also Read: LPG crisis sparks illegal cylinder sales

Categories
Beyond

LPG crisis sparks illegal cylinder sales

Fears of a shortage of cooking gas have led to panic buying in many areas, giving rise to black-market sales of LPG cylinders at very high prices.

Reports show that some illegal sellers are charging up to ₹6,500 for an LPG cylinder. In other cases, people are paying between ₹3,500 and ₹4,000 just to refill a cylinder. This is much higher than the normal price, which is usually around ₹900 to ₹1,000.

Investigations have found that some dealers are illegally diverting cylinders from authorised supply chains and selling them secretly to customers who cannot get gas through regular channels. These illegal sellers often operate from small shops such as stove-repair centres or grocery stores. In some places, they refill cylinders in hidden setups to avoid being caught.

The problem has worsened because many people are worried about possible supply disruptions. India depends heavily on imported LPG, and concerns about global tensions and supply issues have caused people to book extra cylinders or store them at home. This sudden increase in demand has made it easier for black-market traders to take advantage of the situation.

Officials say selling LPG cylinders outside authorised distribution systems is illegal. It violates rules under the Essential Commodities Act and the Liquefied Petroleum Gas Regulation Order. Authorities have warned that strict action will be taken against those involved in hoarding or selling cylinders illegally.

Despite increased monitoring, black-market traders are still managing to operate by selling cylinders only to known customers or through personal contacts. This makes it harder for law-enforcement agencies to track them.

Meanwhile, government officials have urged people not to panic and avoid booking extra cylinders unnecessarily. They said steps are being taken to increase LPG production and ensure proper distribution.

Refineries have already increased LPG output, and authorities are trying to ensure that cooking gas reaches households and essential services first. Officials have also asked the public to report any suspected black-marketing so that action can be taken quickly.

Also Read: Ex-Uber CEO launches robotics startup Atoms

Categories
Beyond

IEA to release 400 mn barrels of oil

The International Energy Agency (IEA) has announced plans to release more than 400 million barrels of oil from emergency reserves into global markets in an effort to stabilise supplies and ease pressure on rising crude prices.

The decision comes at a time when the global oil market is facing significant uncertainty due to supply disruptions linked to escalating tensions in West Asia. These disruptions have particularly affected shipments through the Strait of Hormuz, one of the world’s most important oil transit routes through which a large share of global crude exports passes. Concerns over the safety of this route have pushed international oil prices sharply higher in recent weeks.

According to the Paris-based energy watchdog, IEA member countries have collectively committed about 411.9 million barrels of oil from their strategic reserves. Of this total, 271.7 million barrels will come from government-controlled reserves, while 116.6 million barrels will be supplied from industry stocks held under government obligations. Another 23.6 million barrels will be released from additional reserve sources.

The majority of the planned release, around 72 per cent, will consist of crude oil, while the remaining share will include refined petroleum products such as diesel and gasoline. The oil will be supplied in stages to ensure steady availability in the market.

The IEA stated that oil reserves from Asia and Oceania will begin entering the market immediately. Supplies from Europe and the Americas are expected to start flowing by the end of March, helping improve global availability of crude and fuel products.

IEA Executive Director Fatih Birol said the coordinated release is intended to counter one of the most serious disruptions to global oil supply in recent years. The move represents the largest emergency stock release coordinated by the IEA since the agency was established in 1974.

Energy analysts believe the additional supply could help calm volatile markets and moderate fuel prices in the short term. However, experts caution that the relief may be temporary if shipping disruptions in the Strait of Hormuz persist.

The IEA has previously coordinated similar emergency releases during major global crises, including the 1991 Gulf War, the 2011 Libya crisis, and the 2022 Russia-Ukraine conflict, when supply shocks threatened global energy stability.

Also Read: Gold at ₹1,59,650, Silver at ₹2,74,900

Categories
Beyond

Gold at ₹1,59,650, Silver at ₹2,74,900

Gold and silver prices in India saw a marginal decline on Monday, reflecting cautious sentiment in the bullion market amid global economic uncertainty. The slight drop comes as investors closely watch international developments, including movements in crude oil prices and expectations regarding interest rate decisions by the US Federal Reserve.

In the domestic market, the price of 24-carat gold slipped by ₹10 to ₹1,59,650 per 10 grams. Prices of 22-carat gold also registered a minor fall, mirroring the overall subdued trend in the precious metals segment. Despite the decline, the movement remained limited, suggesting a relatively stable market with only mild corrections.

Silver prices also followed a similar trend. The metal dropped by ₹100 to trade at ₹2,74,900 per kilogram in early trade. The small decline indicates that the silver market, like gold, is currently experiencing limited fluctuations rather than sharp price swings.

Market analysts say global factors are largely influencing the direction of bullion prices. Rising crude oil prices have raised concerns about inflation, which in turn affects expectations surrounding monetary policy in major economies. Investors are particularly focused on signals from the US Federal Reserve regarding future interest rate decisions.

When interest rates remain high, interest-bearing investments such as bonds become more attractive to investors. This typically reduces the appeal of non-yielding assets like gold, leading to pressure on prices in the short term.

At the same time, geopolitical tensions in the Middle East are adding uncertainty to global financial markets. Conflicts involving major global powers often increase demand for safe-haven assets like gold. However, the impact of such tensions is currently being balanced by concerns over interest rates and inflation.

Experts believe bullion prices may remain volatile in the coming days as global economic conditions continue to evolve. Investors are expected to monitor developments in international markets, energy prices, and central bank policies before making significant trading decisions.

Also Read: Sensex falls over 300 points, Nifty slips below 23,300