Forex
Silver Soars as Middle East Tensions and Weaker US Data Fuel Safe-Haven Buying
Silver prices rose by 2.73% to settle at Rs 243,243 as investors sought safe-havens amidst escalating Middle East tensions and weaker US economic data.
The US Treasury announced plans to double repurchases of long-term debt after the national debt reached its highest level since 2007, influencing bond-market conditions.
The Federal Reserve's July meeting minutes revealed that some policymakers favored raising interest rates this year to prevent stronger inflationary pressure later, but it did little to boost the US dollar.
US retail sales fell sharply in July, missing expectations of a 0.1% increase, and the University of Michigan consumer sentiment index declined to 51 in early August from 55.2 in July.