News
Silver Price Forecast: XAG/USD gains traction above $32.00 on trade war concerns
Rising concerns about trade tension and potential retaliatory measures by Trump support the silver price.
Fed’s Powell emphasized that the central bank is in no rush to cut rates and there has been great progress on inflation. Silver price (XAG/USD) edges higher to $32.25 during the Asian trading hours on Thursday. Trade war concerns drive the safe-haven demand, supporting the white metal. Traders await the US weekly Initial Jobless Claims and Producer Price Index (PPI), which are due later on Thursday.
US President Donald Trump on Monday imposed a 25% tariff on all steel and aluminum imports into the United States (US) with no exceptions or exemptions. The White House said late Wednesday that Trump could announce his reciprocal tariff plan on Thursday.
Trump recently said he planned to slap reciprocal tariffs on “every country” that imposes import duties on the United States. The concerns about the trade war tensions could further support the Silver price.
Data released on Wednesday showed that the US consumer prices rose more than economists expected in January, raising the possibility that the Federal Reserve (Fed) will hold interest rates higher for longer as it battles to bring down price pressures. Fed Chair Jerome Powell noted the latest inflation data showed that while the US central bank has made substantial progress toward taming inflation, there is still more work to do. The higher for longer Fed rate narrative could lift the Greenback and weigh on the USD-denominated commodity price.
National News
Deepa Jewellers IPO Subscribed 43x
Bids From Non-Institutional Investors Spearheaded The Rally, Oversubscribing Their Reserved Allotment By Nearly 106 Times.
Massive Demand: Deepa Jewellers’ Rs 460-crore ($55M) public offer closed 43 times oversubscribed on its final day of bidding.
Non-Institutional Lead: Bids from non-institutional investors spearheaded the rally, oversubscribing their reserved allotment by nearly 106 times.
Anchor Backing: The company secured Rs 138 crore from marquee anchor investors, including Motilal Oswal Finvest and WhiteOak CapitalMutual Fund, prior to the mlaunch.
Market Debut: Shares of the B2B gold supplier are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 8.
Gold jewellery supplier Deepa Jewellers saw massive investor appetite for its initial public offering, finishing its final day of book-building nearly 43 times oversubscribed on Thursday.
According to National Stock Exchange (NSE) data, the Rs 460-crore public issue received bids for more than 78.9 crore shares against an available pool of 1.85 crore shares.
The issue carried a price band of Rs 168 to Rs 177 per share, valuing the company at an estimated market capitalization of roughly Rs 1,700 crore at the upper end of the range. The offering comprised a fresh issue of equity shares worth up to Rs 250 crore alongside an offer-for-sale (OFS) of more than 1.18 crore shares.
Ahead of the public rollout, the Telangana-based company raised Rs 138 crore from prominent anchor investors, drawing capital from domestic heavyweights like Motilal Oswal Finvest and WhiteOak Capital Mutual Fund.
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