Indian bond yields surge as government borrowing balloons

India reports record daily jump of 62,538 COVID-19 cases, takes total to 2.03 million

Political News Safe-haven

By Administrator_India

Capital Sands

 

India on Friday reported a record daily jump of 62,538 coronavirus infections, taking the country’s total to 2.03 million, the health ministry said.

The country became the third nation to record more than 2 million cases of the novel coronavirus, behind the United States and Brazil, as infections spread further to smaller towns and rural areas.

Infections are spreading to the countryside, where health infrastructure is rickety.

Gold hit a record high of $2,075.2 per ounce and last stood at $2,064. Silver has been ballistic in recent weeks and hit a seven-year high of $29.8384 per ounce, having gained 60% so far this quarter.

The euro fell 0.3% to $1.1838 while the Australian dollar shed 0.35% to $0.7214. The Chinese yuan eased 0.2% to 6.9670 per dollar.

Still, many traders expect the dollar to weaken further.

Oil prices were little changed, with Brent futures down 0.1% at $45.04 per barrel.

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