Author: MCX India

GJEPC asks banks to adopt its KYC databank to finance diamond trade

Mumbai: Gem & Jewellery Export Promotion Council (GJEPC), a nodal trade body sponsored by the commerce ministry, is pursuing banks to adopt its online know your-customer databank of 2,500 exporters as a means to mitigate risk and improve lenders’ perception of the trade rocked by the Rs 13,600-crore Nirav Modi-Mehul Choksi PNB scam. The matter […]

Gold Extends Gains As Dollar Slides To Three Week Low

COMEX Gold futures edged up further today after breaking above $ 1300 per ounce as the sentiments remained supported ahead of the US Federal Reserve’s monetary policy meet outcome tomorrow. The US dollar has been under stress recently and the dollar index fell to a three week low of 95.70 today. There is some speculation […]

Copper Soars Near One Week High

COMEX Copper futures soared further today, extending the recent uptrend to hit a one week high. Equities are holding up and the metal traders are focusing on media reports that China will cut value-added tax for manufacturing and other sectors from next month. COMEX Copper futures are currently trading at $ 2.94 per ounce, up […]

Economic Buzz: UK Sees Highest Employment Rate On Record

UK unemployment rate fell below 4% for the first time since 1975, according to official figures. The Office for National Statistics said the jobless rate was 3.9% in the three months to January, down from 4% at the end of 2018. The wages excluding bonuses rose by 3.4%, unchanged on the previous month. Unemployment fell […]