Gold price is trading within a narrow range on Wednesday, following nearly 3% drop in past two days, which cracked psychological $2300 support, but failed to sustain break lower, contained by daily Kijun-sen ($2289) Tuesday’s action formed a hammer candlestick, generating an initial signal of reversal of the limited pullback which could be for now described as a healthy…

Posted on by Raj Gaurav Rai

Gold price is trading within a narrow range on Wednesday, following nearly 3% drop in past two days, which cracked psychological $2300 support, but failed to sustain break lower, contained by daily Kijun-sen ($2289) Tuesday’s action formed a hammer candlestick, generating an initial signal of reversal of the limited pullback which could be for now described as a healthy…

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S&P raises India outlook to ‘positive’ ahead of Lok Sabha poll results* In a rare move, S&P Global Ratings on Wednesday raised its outlook for India to ‘positive’ from ‘stable’ while affirming the lowest investment grade sovereign credit rating (BBB-) ahead of the general election results due on June 4. In a post on X, Union Finance Minister Nirmala Sitharaman said that S&P Global Ratings’ decision reflects the country’s solid growth performance and a promising economic outlook for the coming years. “It has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive & visionary leadership,” she said. This is the first outlook revision for the country by S&P, part of the so-called ‘Big Three’ credit ratings agencies, since September 2014. The other two ratings agencies, Fitch and Moody’s, have a ‘stable’ outlook for India with the lowest investment grade sovereign rating.* Global market action* Dow Jones – Down by 0.72% or 275.45 points FTSE – Down by 0.86% or 71.11 points CAC – Down by 1.52% or 122.77 points DAX – Down by 1.10% or 204.58 points Gift Nifty – Down by 0.32% or 73.00 points S&P raises India outlook to ‘positive’ ahead of Lok Sabha poll results* In a rare move, S&P Global Ratings on Wednesday raised its outlook for India to ‘positive’ from ‘stable’ while affirming the lowest investment grade sovereign credit rating (BBB-) ahead of the general election results due on June 4. In a post on X, Union Finance Minister Nirmala Sitharaman said that S&P Global Ratings’ decision reflects the country’s solid growth performance and a promising economic outlook for the coming years. “It has been possible due to the series of macroeconomic reforms undertaken since 2014, along with substantial outlay for capex, fiscal discipline, and decisive & visionary leadership,” she said. This is the first outlook revision for the country by S&P, part of the so-called ‘Big Three’ credit ratings agencies, since September 2014. The other two ratings agencies, Fitch and Moody’s, have a ‘stable’ outlook for India with the lowest investment grade sovereign rating.* Global market action* Dow Jones – Down by 0.72% or 275.45 points FTSE – Down by 0.86% or 71.11 points CAC – Down by 1.52% or 122.77 points DAX – Down by 1.10% or 204.58 points Gift Nifty – Down by 0.32% or 73.00 points

S&P raises India outlook to 'positive' ahead of Lok Sabha poll results*In a rare move, S&P Global Ratings on Wednesday raised its outlook for India […]