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Chennai, The weakness in the US dollar and the likelihood of the <keyword id="17592927" type="General" weightage="80" keywordseo="US-Federal-Reserve" source="AI-Generative">US Federal Reserve</keyword> hitting the pause button on interest rate hike made gold attractive, said an analyst. "Markets now see a 77.2 per cent chance of rates remaining unchanged in the June meeting (of US Federal Reserve). Meanwhile, dollar index and bond yields retreated from their recent peak, dollar index was down by 0.73 per cent and settled at 103.56 level in the previous session. Weakness in US dollar and expectation of a pause in the US Federal reserve policy tightening campaign boosted precious metals' appeal," said Saumil Gandhi, Senior Analyst, Commodities, HDFC Securities Ltd. He said the Comex Spot <keyword id="35271" type="General" weightage="20" keywordseo="gold-price" source="Orion">gold price</keyword>s traded up on Friday, with spot gold price trading higher by 0.06 per cent at $1978.80 per ounce. While Gold August futures contract at MCX was trading up by 0.05 per cent at Rs 60,250 per 10 grams by noon. "Gold prices advanced in Asian trading hours on Friday. Yellow metal rallied as sentiments improved after dovish comments from Philadelphia Federal Reserve President Patrick Harker argued that US central bankers should not raise <keyword id="17592929" type="General" weightage="80" keywordseo="interest-rates" source="AI-Generative">interest rates</keyword> at their next meeting even though high inflation is coming down at a 'disappointingly slow' pace," Gandhi said. Comex spot gold is likely to find buyers in the range of $1965/$1950 per ounce and while $1995/$2009 per ounce is the resistance for the day. MCX Gold August future likely to find support at Rs 60,080/59,700 per 10 gram and resistance at Rs 60,580/60,750 per 10 grams, he said. With regional US banks showing signs of stability, inflation still running hot and the debt deal coming through, the US Federal Reserve may choose to raise rates in June, which will be negative for gold in the near term, said Quantum AMC in a report authored by Chirag Mehta, CIO &amp; Ghazal Jain, Fund Manager. According to Quantum AMC, if the US Fed does pause in June, whether the pause will be extended or temporary will depend on whether or not prices remain on a sustained downward path. A pause would be positive for gold prices. Over the medium term, the economic headroom for the Fed to keep raising rates is limited. Markets are still expecting the Federal Reserve to cut rates later this year. A rate cut will be preceded by deteriorating economic conditions or financial instability, making the investment case for holding portfolio diversifiers like gold strong, the Quantum AMC report said. Investors can use the current consolidation in prices to accumulate gold and build their long-term allocation, the report notes. --IANS vj/vd

Attractiveness of gold depends on US Fed's moves, say analysts

A roller-coaster ride may have fewer ups and downs than what the gold market has had in 2022, industry experts said while looking back at the year that is set to end soon. "A roller-coaster ride has less ups and downs than what the bullion market had in the year 2022. Both the metals, <keyword id="508294" type="General" weightage="100" keywordseo="gold-and-silver" source="Orion">Gold and Silver</keyword>, kept the market participants on edge," <keyword id="377165" type="General" weightage="50" keywordseo="navneet-damani" source="Orion">Navneet Damani</keyword>, Senior Vice-President of Currency &amp; Commodity, Motilal Oswal Financial Services, said. According to <keyword id="630853" type="General" weightage="80" keywordseo="damani" source="Orion">Damani</keyword>, the Comex Gold has made a high of about $1,935 and a low of about $1,630, while silver on other hand made a high of about $25 and a low of about $18. There are a few factors which triggered volatility in the market like, a move in the Dollar Index and yields, aggressive monetary policy stance from major central banks, rising inflationary concern and geo-political tension, which led to this volatility. Concurring with him are Chirag Mehta, CIO and Ghazal Jain, Fund Manager- Alternative Investments, <keyword id="594214" type="General" weightage="80" keywordseo="quantum-amc" source="Orion">Quantum AMC</keyword> who said in a report: "Gold prices approached an all-time high of around $2,070 in March on the back of risk aversion triggered by the Russia-Ukraine war. But later, as the geopolitical risk premium waned coupled with the Federal Reserve's tightening spree to combat sky-high inflation, prices faced heavy downside pressure." Pointing out the repo rate hikes by the Reserve Bank of India (RBI) and the <keyword id="6356435" type="General" weightage="50" keywordseo="us-federal-reserve" source="Orion">US Federal Reserve</keyword>, the two experts said the action resulted in the flight of money from risky assets to the US dollar as the real interest rates (indicated by US 10Y Treasury Inflation Protected Securities) turned positive for the first time in two years in May 2022. "This led to a sell-off in gold taking prices down to a two-and-a-half-year low of $1,614. However, as inflation started to moderate sequentially in Q4 2022, investors started anticipating a less aggressive <keyword id="45672" type="General" weightage="80" keywordseo="fed" source="Orion">Fed</keyword> in 2023, and the dollar came under pressure helping gold prices to scale back up," the Quantum AMC report said. "Stepping into 2023, we can't be sure if this reaction is justified given that inflation in the US remains well above the Fed's two per cent target, and the Fed has made it clear that while the pace of rate hikes could slow down from here on, but the slower pace does not mean lower rates which the markets had started anticipating," the Quantum AMC officials said. According to the Quantum AMC report, there can be another 50-75 basis points hike in the first half of 2023 by the US Fed which in turn could result in bouts of volatility in both risk assets and gold as real rates rise in an environment of cooling inflation and higher nominal rates. Damani said the gold's domestic story is quite different, as even after such macro happenings there was not a great on the MCX, amidst factors like sharp depreciation in the rupee coupled with a hike in basic customs duty by five per cent on gold. He said 2022 has definitely given a boost in market participants' confidence as to gold and silver. Along with Russia-Ukraine tensions, inflationary concerns and the Covid scare in China, market participants will also carry the baggage regarding slower global growth into the next year, Damani said. "Going ahead, market participants will keenly focus on the monetary policy stance of major central bankers. A move in the Dollar Index and Yields will also be watched by the market. The gold/silver ratio has also fallen from the recent peak of about 97 to about 75, supporting the move in silver. And also apart from safe-haven bets, advancement in green technology and increase in industrial demand could continue to support silver prices," Damani remarked. According to him, there seems some signs of exhaustion in gold and silver and dips could be used as buying opportunities for any medium-to-long-term investor for the target of Rs 58,000 in gold and Rs 73,000 followed by 82,000 in silver. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/homebuyer-affordability-declines-in-2022-but-still-better-than-pre-pandemic-2019-level-says-knight-frank-india/articleshow/96597187.cms">Homebuyer affordability declines in 2022 but still better than pre-pandemic 2019 level, says Knight Frank India</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/coals-and-other-unapproved-fuels-to-be-banned-across-ncr-from-january-1/articleshow/96575746.cms">Coals and other unapproved fuels to be banned across NCR from January 1</a>

Gold & silver markets most likely to see signs of exhaustion in 2023

<ul><li>Reaching 3.2 million users, the campaign detects users’ eye blinks accurately while they engage with the ad</li><li>The campaign was run programmatically through Amnet, Dentsu’s programmatic buying and audience management solution. </li></ul> <keyword id="4747401" type="PERSON" weightage="20" keywordseo="mCanvas">mCanvas</keyword>, the experiential storytelling ad platform for small screens, and <keyword id="2805202" type="PERSON" weightage="20" keywordseo="Dentsu-Webchutney">Dentsu Webchutney</keyword>, co-created an interactive mobile-led ad campaign for <keyword id="7682029" type="UNKNOWN" weightage="20" keywordseo="asus-zenbook-pro-duo">ASUS Zenbook Pro Duo</keyword>. The campaign was run programmatically through Amnet, Dentsu’s programmatic buying and audience management solution. Using real-time eye-blink detection technology, a novel innovation in the rich-media industry, the ad campaign is getting users to effectively engage with the brand. ASUS’ campaign objective was to promote the Zenbook Pro Duo – India’s first dual-screen laptop. The product features a regular 14-inch full HD display, along with a secondary touchscreen 12.6-inch display called ScreenPad Plus, that supports stylus input and is positioned above the keyboard. The eye-catching product is a disruption in the industry, resulting in the need to create an equally disruptive ad campaign using innovative technology. Conceptualised by mCanvas and Denstu Webchutney, the ad creative opens to the copy ‘The laptop of tomorrow is just a blink away’, encouraging users to tap the below ‘Explore’ button. The ad then prompts users to blink their eyes to reveal the new laptop. Using real-time eye-blink detection technology, the Zenbook Pro Duo then fades in along with its features of the product. A ‘Know More’ CTA at the bottom directs users to the brand’s landing page for more information. Reaching over 3.2 million users, the campaign is witnessing an impressive 1.2% click-through rate, which is over 6 times the 0.20% industry average for mobile banners. Users are spending over 9 seconds, on average, engaging with the creative and saw 10% users visiting the landing page to know more about the product or make a purchase. Paramjeet Singh Mehta, Marketing Head PC &amp; Gaming, ASUS India said “We were on the lookout for a creative that did justice to the high-end Zenbook. Thanks to Dentsu Webchutney and mCanvas, we could provide users with an avant-garde ad to actively engage users and boost their interest in the product.” Chirag Chandiramani, Associate Media Director, Dentsu Webchutney said, “Considering the eye-catching features of the ASUS Zenbook Pro Duo, it was imperative to amalgamate media and creativity to come up with a clutter-breaking tech innovation, to engage with the audience. The idea was to innovate and involve the right audience, for which we also leveraged our programmatic prowess, which led to buying and targeting efficiencies as well.” Speaking on the programmatic solution, Abhishek Hundekari, Programmatic Lead, Amnet India said, “Brands are increasingly adopting a data-driven approach to run their ads. ASUS’ rich-media programmatic ad not only intelligently targeted the right users, but also provided them with an elevated ad experience.” Commenting on the technology used, Vishal Rupani, Co-founder &amp; CEO, mCanvas concluded, “We know that brands want to engage their users. We also know that there’s a multiplicity of brands that are employing interactive ad formats to break through the noise on the digital space. So, what sets ASUS’ campaign apart from the rest? The real-time eye-blink detection technology used in the ad intuitively encouraged users to interact with the brand, elevating the overall ad experience.”

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Attractiveness of gold depends on US Fed's moves, say analysts

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Gold & silver markets most likely to see signs of exhaustion in 2023

IANS

ASUS gets thousands of users to blink to reveal its latest Dual-Screen Laptop

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