Lack easing US Treasury yeild, while investors remain cautious ahead of Fed policy meeting scheduled to be held later today. Rising crude oil price, currently trading near $75/Barrel limited the gains. Investors are also cautious ahead of the US Federal Reserve's two-day monetary policy meeting, which begins on Tuesday.The 5.63%-2026 bond, the most traded gilts in volume, traded at Rs 99.7200 or 5.6964% yield, compared to Rs 99.7200 or 5.6964% yield at open on Wednesday
Weak greenback and IPO-related inflows, but Fed policy stance is expected to be hawkish and this limited the fal of the currency pair."Rupee tracking dollar weakness and IPO-related inflows."dollar/rupee traded at Rs 74.45/$1 compared with Rs 74.43/$1 at open Wednesday versus Rs 74.46/$1 at close on Tuesday. Dollar/rupee to trade in Rs 74.30-72.70/$1 range today.
On Multi Commodity Exchange, gold August futures were up Rs 62 or 0.13 per cent at Rs 47,635 per 10 gram, while silver September futures jumped Rs 236 or 0.4 per cent to Rs 66,292 per kg. In the previous session, gold futures ended at Rs 47,573, and silver at Rs 66,056. Globally, yellow metal was flat on Wednesday, holding near the key psychological level of $1,800 per ounce, as investors await the US Federal Reserve’s meeting for hints on policy tapering plans. Spot gold was flat at $1,798.75