Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
FxWirePro: Daily Commodity Tracker - 21st March, 2022 
The Indian government bonds were little changed on Thursday, with traders focusing on Thursday's referendum on whether Britain will remain part of the European Union. Also, the yield on the benchmark 7.59 percent bond maturing in 2026 is likely to trade in a 7.45 to 7.50 percent range band today.
Meanwhile, the yield on the benchmark 10-year bonds, which moves inversely to its price hovered around 7.478 percent by 07:00 GMT.
Referendum voting has officially begun in the United Kingdom at 6:00 GMT, about half an hour ago. Voting will continue for next 15 hours and will end at 21:00 GMT with the result likely known around this time tomorrow (between 06:00 to 07:00 GMT). The market is not likely to move much throughout this period, however, there could occasional volatility spark due to low volume and position shifting.
Interestingly, in 1975 PM Harold Wilson called a referendum for the first time after considerable opposition rose from within the country on UK staying with the European Economic Community, the precursor of the EU. But, with 67 percent of the voters voted to remain in the EU, UK stayed in.
Last week, the Reserve Bank of India’s Governor Governor Raghuram told to the RBI staff that he will return to academia after his term with the RBI ends on 4th September.
Rajan, a former chief economist of the International Monetary Fund who is on leave from University of Chicago, took charge as the twenty-third Governor of the RBI in September 2013 after the rupee sank to a record low against the U.S. dollar, as foreign investors took hefty sums off emerging markets such as India at the first indication of a reversal in easy U.S. monetary policy.
The government will shortly announce a successor to Rajan, Finance Minister Arun Jaitley said on Saturday. The focus will soon shift to who will succeed Rajan as the central bank’s next chief.
Meanwhile, the Sensex rose 0.03 percent or 7.50 points to 26,773.87 and Nifty-50 futures trading higher 0.45 percent or 35.70 points at 8,238 by 07:00 GMT.
