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Major non-farm commodities to take guidance from Dollar in new Samvat

Strengthening of the dollar the past few quarters has pushed investors to sell risky assets and shift to the greenback and oil

samvat, stock market, diwali, hindu calendar
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Rajesh Bhayani Mumbai
All major non-agri commodities in Samvat 2079 are expected to take guidance from the dollar, and their prices will move accordingly.

The strengthening of the dollar for the past few quarters has pushed investors to shift to the American currency and oil while selling other risky assets.

A rising interest rate, along with inflationary pressure, was the major trigger.

These traditionally are considered not good for commodities.

Gold is considered the best hedge against inflation except when the dollar strengthens.

In the just concluded Samvat, the dollar index was up 19.3 per cent but the rupee depreciated only 10 per cent against the dollar. But

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First Published: Oct 25 2022 | 6:09 AM IST

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