2 weeks Ago By Ananya Chaudhuri
Gold prices hit record high for a second day in a row on Tuesday as investors drop the dollar index and US treasury yields on fears that US President Donald Trump may fire Federal Reserve Chair Jerome Powell. The Bloomberg spot gold rose 0.91% to a record high of $3,455.
09 an ounce. It was trading 0.68% higher at $3,447.
37 an ounce as of 7:36 a.m. Most share indices in Asia-Pacific region were trading lower Tuesday morning, tracking overnight losses on Wall Street as worries for the independence of US Federal Reserve weighed on investors' minds.
US President Donald Trump in post in Truth social media said the US economy will head for recession unless the US central bank hurries to cut interest rate. The Nikkei 225 and S&P ASX 200 were trading 0.10% and 0.
12% down, respectively. The KOSPI was trading 0.11% higher as of 7:26 a.
m. US share indices ended sharply lower on Monday after US President Donald Trump amplified criticism of Federal Reserve Chair Jerome Powell. This raised serious concern over the central bank's independence, which is essential to maintain stability in the country's financial landscape.
The Dow Jones Industrial Average and S&P 500 ended 2.48% and 2.36% down, respectively.
The Nasdaq Composite ended 2.55% down. The GIFT Nifty was trading higher in early trade Tuesday, which indicates that the benchmark indices may open higher.
Coal India Ltd., One 97 Communication Ltd., Tata Steel Ltd.
, and Vedanta Ltd. share prices may react due to news flow overnight. The GIFT Nifty was trading 0.
06% or 14 points higher at 24,102.50 as of 6:48 a.m.
The benchmark equity indices gained for the fourth consecutive session on Monday and closed at their highest since early January. The NSE Nifty 50 closed 273.9 points, or 1.
15% higher at 24,125.55, while the BSE Sensex ended 855.3 points, or 1.
09% up at 79,408.5, the highest since Jan. 3.
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