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Gold plunges Rs 460 on weak global cues, fall in demand

Gold plunges Rs 460 on weak global cues, fall in demand

He said recent developments would be taken into account when Fed officials make their new projections.

Losses in industrial and health care stocks are pulling major US indexes lower in morning trading on Wall Street. The S&P 500 lost 36.16 points, or 1.33 percent, to 2,677.67 and the Nasdaq Composite dropped 92.45 points, or 1.27 percent, to 7,180.56. But stocks mounted a huge rebound, clawing back almost three-quarters of its price correction, after initial Fed fears briefly abated. S&P 500 futures were up 0.2 percent at 2,719.

Chain store sales data will be reported today. The jobless claims decreased by 22,000 in February from the previous month, compared to the expected fall of 15,000. Against the yen, the dollar fell 0.2% on the day to 107.14 yen after the Bank of Japan on Wednesday trimmed the amount of super-long Japanese government bonds (JGBs) it offered to buy at its regular debt buying.operation.

Markit Economics' Purchasing Managers' Manufacturing Index for February will be revealed at 9.45 am ET. The consensus is for 58.6, down from 59.1 a month ago.

A January report on construction spending was unchanged. Adjusted for inflation, personal spending declined 0.1 percent from the prior month.

USA stocks earlier this month suffered their first 10% drop in two years.

Federal Reserve Bank of New York President William Dudley will deliver "Remarks on Trade and Globalization" at a Central Bank of Brazil event in Sao Paulo, Brazil, with audience Q&A at 11.00 am ET. "His confirmation calmed the markets as the Fed is expected to continue its strategy of making data-driven decisions". And only the Fed increases the supply of money. The M2 weekly change was a deficit of $10.0 billion.

"If you were to go to four, 25-basis-point rate hikes I think it would still be gradual", Dudley said, according to a Reuters report.

PSG confirm Neymar has fractured metatarsal
On Sunday, Emery had voiced his hopes that the world's most expensive player would make it back in time for the blockbuster clash. Before that, PSG plays Marseille in the French Cup quarterfinals on Wednesday, and is at Troyes in the league on Saturday.

Fortnite: Battle Royale Servers Goes Down For Maintenance
The update should make things far more responsive, and the changes are due to come to Save the World mode at a later date. As was previously teased, the theme will be space for Season 3, so several of the skins feature astronaut-esque designs.

Apple Said To Buy Cobalt Directly From Miners
While those devices use about eight grams of refined cobalt, the battery for an electric auto requires over 1,000 times more. BMW is also close to securing a 10-year supply deal with an unnamed supplier in February.

Yet not even a weaker than forecast barrage of economic stats could pull the dollar from its recent highs. Group revenue amounted to 65.21 billion euros, up 20.7 percent from 54.03 billion euros past year.

The new Fed Chief replied: "It seems that the markets were generally orderly throughout nearly all of that time".

Crude oil fell more than 1.0 percent, hitting two-week lows on pressure from a strong USA dollar and worries that surging US crude output might thwart efforts by the Organization of the Petroleum Exporting Countries to drain global supply.

Economic data away from the U.S. has also been showing signs of plateauing a little, with data out of Japan and China earlier this week also on the weak side, which brings us into March and the latest survey data drop from the manufacturing sector and the latest PMI's for February. Hong Kong's Hang Seng index finished up 191.26 points or 0.62 percent at 31,035.

On Wall Street, the Dow Jones Industrial Average closed down 420.22 points, or 1.68 percent, to 24,608.98.

The immediate reaction in the bond market was to send Treasury yields higher, and the yield on the 10-year note climbed to 2.90 percent from 2.86 percent late Monday.

European shares are trading mostly down.

Arun Khurana, head of treasury, IndusInd Bank, however, said, "The PNB issue is not impacting the level of the rupee it is a host of other factors like the rise in the United States treasury yields and the revival in the U.S. economy which is strengthening the dollar across geographies". The euro fell to $1.2197 from $1.2202.

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